financial management

A Client Story – Retired Businessman Hires Financial Concierge

A Client Story – Retired Businessman Hires Financial Concierge

A Client Story

John, a lifelong businessman, exclusively handled the family finances. Dealing with congestive heart failure, shortness of breath, signs of dementia, chronic pain and depression, the formerly astute businessman, was simply not feeling well and neglecting his personal or business affairs.

His long-time lawyer, accountant and business partners had been noticing for a while that he wasn’t on top of things like he always was. Their gentle reminders to him were acknowledged but not executed.He and his wife had their Power of Attorney drafted as instructed but a year later, when needing to activate Power of Attorney, it was still in draft form, not signed.

Missed payments, overpayment of credit cards and phone bills, stale-dated dividend cheques, partnerships and long-time company needing to be wrapped up.

Knowing his wife had never been involved in the family finances, John asked for help from Financial Concierge.

We got involved and:

    • organized all paperwork and important documents into a Family Playbook™
    • went through piles of mail to troubleshoot issues
    • filed bills and documents into his existing filing system
    • had stale dated cheques re-issued & set up direct deposit of future dividend payments
    • called credit card company and had the large overpayment sent to their bank account
    • consolidated gas and electricity bill saving fees and confusion
    • cancelled an air filter program he was being billed for but no longer using
    • set up online accounts for cell phones, utilities, banking
  • provided information to his accountant to proceed with winding up John’s company
  • collected & organized all personal tax receipts & delivered to his accountant for tax preparation
  • contacted a driving service to take him to medical appointments in the city

This type of situation is not uncommon. As you get older and have to deal with health issues, it’s a smart move to bring in assistance and let someone else handle it for once.

Jill Chambers, the President of Financial Concierge, says, “We are dedicated to providing assistance to and supporting our seniors in Canada. We see a growing gap in society as the ‘sandwiched’ generation struggles with taking care of their children, paying their own bills, and looking after their aging parents. We step in to fill those gaps and take care of the organization and administration of day-to-day issues so you and your family can concentrate on enjoying your time together.”

If you think you could use the help of Financial Concierge, book a consultation with us today!

Posted by Jill Chambers in Money Management, Newsletter