Finding the shortest and safest route to any of your dreams requires planning and only with a carefully thought out financial plan can you be sure to make the most of your resources and to protect against risks along the way. At Worby Wealth Management, Chris will do his best to help you achieve those dreams with a plan that is tailored to your specific needs and based on your individual situation.

1. Communication. 

During the 2008 liquidity crisis, I gained a few extra clients because I was actively in contact with my existing clients and other advisors were not in contact with theirs. The fact is that I, like all the others, did not know what was happening or why – a 50% drop over 2 months will have that effect on you! – but that didn’t keep me from calling and having appointments. I may not have had answers, but it was still my job to provide them access to whatever information was available.

2. Pro-activity. 

This one goes a bit hand in hand with the first one but I can’t tell you how often I’ve heard this, “he calls me at RRSP time and I go write him a cheque and don’t hear from him for a year.” Who is the client in this scenario?! One trick I use for this one is to sometimes book our next appointment at the end of this one – even if it’s going to be 6 months down the line. It keeps us all accountable to meet regularly.

3. Interest. 

I often joke that “you don’t have to be a nerd but you do have to hire one” because the reading I do and enjoy and look forward to would put the average person to sleep in about 3.7 seconds! I like people, I like math, I like psychology, I like markets – I like what I do. I don’t do it because I have to; I do it because I want to. If you are working with someone who has to do something, you know it and you also know mediocrity is the usual companion.

4. Relationship. 

Personally, I don’t get a lot of utility out of a transactional relationship. I like to get to know my clients and I like them to know me. I am a little quirky (aren’t we all) and I like other people’s quirks. I enjoy the eccentricities that make people unique and if we are dealing with transactions – “My guy calls me at RRSP time and I don’t talk to him for a year” – I don’t get a lot of personal reward from that. It makes our work together more personal, I can understand people’s goals better and I can advise them better.

5. Competence. 

This one is difficult to assess in an hour or two of meeting someone however, I think it is fair to ask a new advisor about wins and losses. “Tell me about 3 recommendations you’re proud of and 3 that you aren’t.” There is no possible way that everyone bats 1000 when it comes to recommendations based on the stock market but if someone isn’t willing to discuss it with you, that’s a red flag. This also leads to a talk about investment discipline – and that’s where competence truly lies.

I don’t think it’s out of line to treat a new advisor kind of like they are interviewing for a job. I often think of myself as a household’s Chief Financial Officer – you are the CEO; you’re the one making decisions and ultimately responsible. But within the realm of investments and money management services, I give recommendations for my client's consideration.

Call Chris Worby at (306) 757-4747 ext 226 or on his Cell: (306) 737-2909. Check out his listing on the Regina Directory in the REGINA FINANCIAL SERVICES category. Chris Worby is a Trusted REGINA FINANCIAL ADVISOR EXPERT

Some of the services that Worby Wealth Management can help you with: 

• Insurance Advice
• Investments
• Wealth Management Services
• Pay Less Tax With Tax Planning 
• Become Mortgage-Free Faster With Financial Education 
• Estate Planning 
• Retirement Planning 

TRUSTED REGINA FINANCIAL ADVISOR Chris Worby from Worby Wealth Management helps you live your dream!

Benefits of working with a qualified licensed builder:

There are many benefits of working with a qualified, licensed builder when building a new home. It’s safe to say that building a new home – possibly one of the biggest investments you’ll make in your life – is one place that you want to be very careful about cutting corners.

It’s true that the economic downturn has caused just about everyone to look for ways to save money. Whether it’s haggling for the best deal or even coupon clipping, there may be ways to save money with anything you buy.

But what if you are planning to build a home? Should you just go for the best price, even if it involves you building the home yourself as an “owner-builder” or using an unlicensed contractor to run the job? Even though many people are shocked by the estimated costs for constructing a new home, using an unlicensed contractor or taking on the role of an owner-builder just because it’s the “best price” can prove to be both challenging and costly for the owner.

Licensing rules and requirements vary by province, and primarily are designed to protect consumers. In many provinces contractors must prove that they are qualified to do the work and even may undergo testing, fingerprinting, financial bonding requirements and criminal background checks before they are able to be licensed. Provinces vary as to the extent that general contractors must be licensed, and sometimes licenses only are required for certain specialty trades like electricians and plumbers. Many people debate the value of a license in provinces with lax (or no) enforcement and low standards, and in some places can rightfully claim that the license basically is a tax.

However, when licensing is a requirement in your province, working with a licensed builder at least can give you some peace of mind by knowing that the builder has been vetted to meet your provinces’s requirements and is serious about both its profession and its public image. In addition, hiring a licensed contractor sometimes may provide additional protection for you that is not available to those who use an unlicensed contractor. For example, in some provinces a home owner may file a complaint against their contractor’s license if they have a claim about their home or the consumer may even be eligible to apply for money from a recovery fund that can help them have work corrected or their home completed.

On the other hand, there are an infinite number of stories about the nightmares of unlicensed “illegal” contractors that fail to build a home properly and just disappear after being paid a down payment. You should ask yourself: Why is this contractor not licensed if it is required in your province? It certainly could be a problem if the builder lost his license for bad acts or otherwise is just willing to skirt legal requirements while building your home.

The wall sitting on the top of the ICG foundation is not straight. From the back corner forward, the wall changes positions.

In addition, being an owner-builder or using an unlicensed contractor can shift much of the responsibility and risk to you as the owner. Indeed you may be sued and personally liable if proper insurance is not in place and there is an accident on the job, and you likely will be taking on a larger role in managing the overall job.

So if you are considering being an owner-builder or saving money by hiring an illegal contractor, think again. Here are some of the benefits that you can expect from having a general contractor (and make it one with a proper license, when required) to supervise the entire project and build your home for you:

1. A general contractor will contract with, manage, coordinate and supervise a project that involves multiple trades as subcontractors (and can do so when properly licensed; in some plaaces, it is illegal for the builder to contract with you and subcontractors for the job unless licensed);
2. Working with a general contractor can save you time, as the job can be handled more efficiently and by someone experienced with construction schedules and awareness of the project’s “critical path” needs;
3. An experienced general contractor will have a network of connections that benefit you – whether they are the best subcontractors for the task, or knowing how to reach the inspector quickly so you can keep the project moving;
4. You likely will see cost savings with a builder evaluating multiple bids from subcontractors and getting the benefit of discounted contractor rates with suppliers;
5. A good, licensed builder is experienced with processing permits and inspections (and a license typically is required for the builder to pull permits in its name), and will know up front what needs to be done to meet code requirements;
6. You usually get better construction loan terms and options from banks if you are working with a licensed general contractor;
7. A licensed builder should carry all the insurance coverage needed (you still should confirm first for any builder), and will manage insurance coverage by subcontractors too; this means that the builder, not you, will be considered responsible for the risks and liabilities associated with the job;
8. A licensed builder can provide a contractual warranty to you for the home and its integrity; plus, commercial home warranty companies typically only provide coverage when the home is built by a licensed builder;
9. In general, a quality home built by an experienced contractor should need less maintenance and fewer repairs during its lifetime; a quality home has better resale value and is likely to hold its value longer.

The wall is hanging off the ICF foundation.

Chances are, hiring an experienced general contractor that is properly licensed can save you a lot of headaches, time and money when building your new home. However, like any licensed profession (whether it’s doctors, lawyers or builders), a license alone does not mean that they will do a quality job and be good at what they do. As we’ve described before there are many things to evaluate when hiring a builder, so you still should do your research, check references and make sure you have seen some of their finished projects in person.

Home Insurance

Whether you live in your own home, a condo or are renting, you need to know you’re covered in case the unexpected happens. Conexus Insurance representatives can help secure your peace of mind. Our insurance professionals will meet with you to discuss your needs, to ensure you have an insurance package that works for you.

Home Insurance - If you own your home, you not only need to protect the building, but also your valuables inside. Although you may not want to think about it, the unexpected such as fires, vandalism or theft can happen.

A home insurance policy will ensure your property and all your belongings are covered. Coverage also includes protection from liability for accidents to people who may be on your property. A home, condo or tenant policy will make sure you’re covered.

Not all home policies are created equally, or priced the same. They are designed to meet each individual’s needs. Make sure you’re covered! Contact an Insurance Representative today for your free quote!  

 Trusted Regina’s Financial experts share a tip on client defections: 

Client defections to speed up!

“There are a lot of advisors who don’t keep up with their clients and wait for them to call instead of being proactive and keeping up regularly,” she said. “If my client mentions something about taking a trip at a specific time, I’ll often call them just to find out how it went. It lets them know I care, that I’m thinking about them and it’s led to more referrals while keeping my attrition rates low.”

A survey of client attrition rates for 2014 may, in fact, represent a turning point for the industry as it prepares for fallout from regulatory change.

Currently, Canada’s top financial advisors have a one per cent attrition rate while the average for Canadian advisors as a whole is closer to 10 per cent, according to Maximizer Services Inc., based in Vancouver B.C.

But CRM2 is expected to change that, with many transactional advisors anticipating client defections will double post CRM2’s full implementation.

“There will be a lot of unhappy clients out there once they realized the truth about their accounts and how much fees they’re paying to some of these advisors,”  “I think that we’ll see the attrition rate get much higher when CRM2 finally kicks in.”

Top advisors and their commitment to using advanced technology as well as those who previously anticipated CRM changes and engaged clients in difficult conversations are most likely to maintain low attrition rates.

The study also found that 69 per cent of advisors had an attrition rate of five per cent or less if they were previously using a strong customer relations management system.

Using DayLite or Symantec has helped to build her business because she is able to keep up with clients regularly. The Important thing, she says, is to be proactive for their needs, and not reactive to their demands.

 Trusted Regina’s Finance Experts -  give them a call to see how they can work for you!

Finding the shortest and safest route to any of your dreams requires planning and only with a carefully thought out financial plan can you be sure to make the most of your resources and to protect against risks along the way. At Worby Wealth Management, Chris will do his best to help you achieve those dreams with a financial plan that is tailored to your specific needs and based on your individual situation.

Let TRUSTED REGINA's FINANCIAL ADVISOR Chris Worby from Worby Wealth Management help you live your dream!

Here Chris Shares A Tip About Too Much Stuff:

Too Much Stuff? What to keep…

If you’re like me, you find yourself with stuff – lots of stuff – all over the place. In a lifetime, we accumulate and accumulate and it’s hard to know what to throw out.

By no means exhaustive, this article has some good ways to catalogue stuff and may give you some ideas on how to keep your stuff sorted.

The following is an entertaining article:

George Carlin and the new retirement minimalism

It is finally spring. Among the rituals of spring is spring cleaning. 

Comedian and colorful social observer George Carlin described a house as "just a place to keep your stuff while you go out and get more stuff.” Spring-cleaning is an opportunity to sort that stuff — making the option of downsizing possible, ageing-in-place easier, or simply helping family members make sense out of all that “stuff” you have accumulated for decades. 

Over an adult lifetime, you collect your stuff, family stuff and legal stuff. Here are some ideas on what to do with it. 

Your stuff is everything under your roof. However, as you approach retirement, or may already be in retirement, that stuff makes life and future housing choices more difficult. The more you have, the more there is to maintain, clean and organize. A house full of furniture that was once the home of a family of five, but now only has two, makes the decision to downsize difficult. Moreover, should something happen to one member of a couple, a home's contents can be a near-insurmountable burden to manage and ultimately sort out. A new ritual of retirement may be the adoption of new retirement minimalism — eliminating items that are in the house because ... well because they have always been there. Even if you don't want to downsize to another home, consider what you can downsize while staying in the home you are in. 

Family stuff used to include furniture, glassware, tableware and a long list of family artifacts such as great grandfather Joe's steamer trunk. Lifestyles have changed and keeping and handing down family “things” has become less important. Just consider the fact that the children of the baby boomers — the millennials — aren't following the same life course timetable or preferences of previous generations. They are marrying later in life. Choosing to have fewer or no children. Moreover, the homes they are choosing, many in urban areas, are smaller. Consequently, mom's dining room set doesn't have a place to go and, even if your children have a need for a crib, chances are the one in your attic it is out of style or painted with something that has been, or will be determined to be hazardous. 

Family stuff today is about memories that can neither be bought nor replaced. Photos across the generations that are annotated identify who is in the photo and their relationship to children and grandchildren. Family videos that have been copied to the most current medium — no your VHS player isn't worth keeping. Even your own audio stories are recorded to memorialize family history. All of these items can be safely kept in the cloud, occupy little space, accessed by everyone while preserving generations of memories. 

Legal stuff includes important documents that you and your family need access to for managing legal, financial and health matters that will become more critical as you age. The list can be long but includes legal and financial records for real estate, wills, health proxies, medical orders and desired intentions, insurance policies, inventories and the assessed value of the insured property, investment records, bank account locations, etc. These documents, along with an up-to-date list of contacts for attorneys, financial advisers, accountants, physicians should be organized, discussed with selected family and friends, and copies maintained in the home as well as with the appropriate professional, e.g., a lawyer that assisted with will writing. 

Like spring itself, life after work is an opportunity to start new. Retirement spring-cleaning through all that stuff makes considering alternative housing options possible, simplifies life in older age, and can be an invaluable gift to loved ones. 

Warning: May contain offensive language. 

Check out his listing on the Regina Directory in the REGINA FINANCIAL SERVICES category. 

• Insurance Advice
• Investments
• Wealth Management Services
• Pay Less Tax With Tax Planning 
• Become Mortgage-Free Faster With Financial Education 
• Estate Planning 
• Retirement Planning 

TRUSTED REGINA FINANCIAL ADVISOR Chris Worby from Worby Wealth Management helps you live your dream!