A Letter from Financial Advisor Richard Dri

My blog has been a vehicle to teach readers the importance of financial planning and investment management.

This week, I have a favour to ask…

When I started my practice almost 30 years ago, I had a dual mission which still guides me:

Help clients make better financial planning decisions by deliberately addressing all financial planning topics, such retirement planning, tax minimization strategies, risk analyses, estate consideration and many other personal goals.
Prudently maximize the investment returns of every dollar we are asked to manage.

Trust me when I say it has not always been an easy job! But I love the challenge and, even more, the relationships with my clients.

Today, I’m very happy to report that almost 100% of our clients have a financial plan that addresses their financial goals and is updated at regular intervals.

In addition, we remain current with all financial planning topics and offer recommendations as developments occur.

For example, we recently asked clients to name a designated beneficiary for their TFSAs and back-up beneficiaries for their RRSPs. This allows funds to be transferred, on death of the account owner, to the named beneficiary without probate fees.

This suggestion could save clients as much as 1.5% of the value of the assets passed to the next generation (i.e. a TFSA of $100,000 could have a probate fee of $1,500).

It’s in my nature to not rest until every single client and family has a realistic plan for achieving all of their financial goals.

Regarding my second mission, I’m very proud of the long-term investment performance of my proprietary Canadian dividend growth model.

As of May 4, 2021, the investment model that serves as the foundation of many investment plans had a 10-year compounded annual rate of return of 12.7% versus its benchmark, the S&P/TSX, which had an equivalent return of 6.4% (as per Morningstar/CPMS).

In other words, $100,000 invested in May 2011 in the Richard Dri Canadian Dividend Growth model would now be worth $324,732 versus $185,958 in the S&P/TSX index (before fees, taxes and dividends reinvested).

Did the strategy underperform at times?

It sure did… But clients who followed all the buy/sells and stayed invested were very well rewarded.

Last, I would also like to mention the incredible team that has been assembled over the years.

Lora Shapiro and Ashley Land share the responsibility of conducting client reviews on a regular basis and offering pertinent recommendations. You could not find a more professional and dedicated duo.

Grace Gomes handles all client administration, such as new account applications, address changes, tax slips, and so on.

And I would be remiss if I did not mention the great support that clients receive from Scotia Wealth Management and Scotiabank. This includes assistance with wills, lines of credits, mortgages and basic banking services.

In summary, we have helped clients like you make better financial decisions, and so I feel comfortable in asking you for a personal favour.

Can you kindly introduce us to your friends and family members who could benefit from our services?

Maybe it’s a friend who manages their own money but doesn’t have a financial plan and isn’t sure whether they have enough to retire or if they are maximizing tax-deferred investments such as RRSPs, TFSAs, RESPs and so on.

Maybe it’s a colleague who has complained about the lack of contact from their advisor.

Maybe it’s a neighbour who is newly widowed or divorced and needs guidance with the numerous financial decisions.

Maybe it’s a relative who has complained about the investment returns of their portfolio.

Maybe it a co-worker who’s nearing retirement or facing involuntary retirement and has pension questions.

If you know someone who might fit the above criteria, I kindly ask for an introduction.

How?

Simply send me and your contact an introductory email. I will follow up with a phone call and, together, we will decide if they are a good fit for our services.

If one of your referrals becomes a client, I will make you two promises:

They will receive the same level of service you receive. Trust me when I say, “We will not embarrass you.”
We ensure that all personal and financial information obtained during our meetings will be kept completely confidential.

As always, it an honour to be your financial advisors. We would humbled if you introduced us to your friends or family members who might need our service.

The process of finding a financial advisor can be overwhelming. It is our job to make that process simpler and easier.

Dri Financial Group’s proprietary Wealth Navigator Process is designed with you in mind.

Its structured framework helps you make an informed decision and feel confident in our team and management practices before we get started.

We offer you a range of services from creating bespoke financial plans and providing investment advice to helping you take advantage of our investment models. If you would like more information on the Wealth Navigator Process or our team, call me any time at 416.355.6370 or email me at richard.dri@scotiawealth.com.
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Beyond helping you manage your finances, we take pride in motivating, educating and helping you expand your financial literacy. We are here to answer any questions you have and to help you feel in control of your financial destiny.

If you are ready to dive deeper into your financial literacy journey, we have a wide range of free tools and educational resources available.