Eltero Financial Logo


Home / FAQ

Questions We’ve Been Asked…


We don’t sell products.  We don’t have sales targets.  We don’t get awarded fancy trips because we’re in the top 10% in sales at our firm. 

We just help people like you set and achieve whatever financial goals they have, like buying a house or second property, putting your kids through school, or saving for and spending in retirement.  Your targets are our targets= Aligned.

Canada has some of the most expensive investment-related fees in the world.  According to Morningstar, the average mutual funds fee in Canada is 2.25% of the value of your investment annually.  The average fee Canadians pay for financial planning advice is between 1.75% - 2.25% of the value of your investments.

We charge a flat advisory fee that works out to less than 1% of our clients’ investment portfolio values.  I know.  You must be wondering: how can we charge such a low fee and still offer more personalized service than a typical, large financial institution? 

Well, we have access to the latest financial industry tech stack which makes us very cost-efficient.  And we don’t have the overhead of a bloated management structure or offer high-cost sales awards, so we pass these cost-savings onto our clients.   

We understand that there might be people who could benefit greatly from our services, but our standard services do not fit their current budget.  We encourage those people to email us to let us know about your situation so that we can discuss and help where possible.

No.  We need to get to know each other before we can determine if we can work together.  And this initial consultation is without obligation or commitment.  If we decide to work together, we will provide you with a written quote for your review and signature, and go from there.

David received his Certified Financial Planner designation (CFP) in 2009. He also received the Canadian Investment Manager (CIM) and was awarded the Fellow of the Canadian Securities Institute (FCSI). He has taken too many courses and seminars over his career to list.

Clients come to us because they want to achieve their financial goals.  They grew tired of hearing the same old industry jargon and excuses from their previous advisor or financial institution. 

We don’t receive any commissions or kickbacks from any of the advice we give.  You pay us a flat fee and that is the only financial incentive we have.  You can feel more confident knowing you’re getting unbiased and objective advice. 

We have professional incentives to see you set and achieve your goals:  A) because we enjoy what we do and the clients we work with, and B) when we do a good job for our clients, they recommend us to their friends.

We don’t have minimums.  We feel everyone can benefit from personalized financial planning, so we charge a flat advisory fee for our services.

Actually, we don’t handle your investments at all.  Part of our planning process assesses your financial goals and then determines your ability, willingness, and need to take investment risk.  We can then recommend you to a low-cost professional investment manager.  We will be with you every step of the way with ongoing monitoring and assessing of the investment manager to ensure their strategy continues to match what you want and need.

And if you’re a DIY investor, we can recommend asset mix adjustments, so your portfolio lines up with your financial goals.

Yes, we do.  We’ve worked with clients across Canada.  If you’re comfortable with video, phone, email and text communication, then we can work together.

Ok.  This might be our only bias.  A great financial advisor is a combination accountability partner and coach.  As the name suggests, an accountability partner will hold you accountable to follow planning steps which can help you move faster and more confidently toward your goals.  And everyone can benefit from quality coaching.  If you are unsure how to achieve your goals, working with a professional coach will greatly improve your chances of success.

Tom Brady, Michael Jordan, and Wayne Gretzky all had coaches.  And look how they turned out!  

Our process begins with getting to know you and understanding what you are hoping to achieve for you and your family.  A lot of people are overwhelmed with goal setting because they’re not sure what they want, or they don’t want to fail.  So, they never start.  Procrastination is the thief of time and time is your greatest asset. 

Or people settle on generic goals that don’t excite them.  We want you to think big picture and let us worry about determining the steps on how to get there. 

We will work with you to ensure your investment plan, your tax plan, your cash flow plan, retirement plan, insurance plan, gifting plan, and estate plan are all pulling in the same direction.  Everyone prioritizes these sub-plans differently.  We work on all these areas in the order that suits your goals, but they all will be addressed and optimized for you.

A financial plan is a document that should illustrate your current net worth, your current and projected cash flows and tell you whether you have enough resources to fund a future goal.

But life is ever-changing so this document can get stale quickly.  And too often our industry will use these financial plans as tools for them to sell more products to clients.

Our focus is on financial planning – a dynamic process that constantly seeks opportunities and avoids obstacles that will get you closer to your goals.  If the planning is done well, you don’t need to buy a product to solve problems.  And that keeps more money in your pocket for you to achieve bigger goals. 

We’re in the helping business.  If you feel you have everything looked after and only have a few general questions, give us a call, or send us an email.  We don’t charge for general help.

We are hesitant, however, to give specific advice without doing our due diligence into your unique situation.  Kind of like a doctor not prescribing you medication without knowing your health history and the other medications you’re taking.

See Services {link}

There are over 90,000 people in Canada calling themselves financial advisors of some sort.  Literally, over 99.7% of them work for a financial institution that sells products. 

We’re not saying they’re all only motivated to sell you products, but we feel that by only being compensated by the fees clients pay us and not receiving any other commission, we are able to avoid the temptation of biasing our advice for financial incentives.  So, that’s pretty different. 

We don’t know what your investment adviser or accountant is or isn’t doing.

We know our strength is in understanding your goals.  We can then take that understanding and leverage our experience and knowledge of being in this industry for over 20 years and having had 1000’s of planning discussions with clients, to provide you with a meaningful map to achieve your financial goals.  And we will help you follow that map every step of the way.

We work with many of our client’s accountants and lawyers to implement parts of the plan.  We help our clients to build a strong, supportive team that includes relationships with accountants, lawyers, and mortgage and insurance professionals. 

Investment advisers tend to focus on investments only.  We feel investments are an important part of your picture, but there are many more components that go into achieving your financial goals, such as planning for tax, cash flow, retirement, insurance, gifting, mortgage debt, estate planning, etc. 

We think “Eltero” means elephant in Samoan.  So that’s cool.

But David chose the name because that’s the name of the neighbourhood he grew up in Bishop’s Falls, NL. 

When David thinks back to his childhood, he remembers the great times making the most of what he and his friends had, and not spending so much time worrying about what they didn’t have.  Every day was a fun adventure.

We want our clients’ lives to be as enjoyable and stress-free as those memories of simpler times David has of growing up in rural Newfoundland.  We believe great financial planning can help you enjoy and optimize everything that you have.

It’s time you invested in yourself.

What is “Experience First Planning”?

How is client success affected by having tangible goals?

How do clients react to your approach to financial planning?

Would you agree that most Canadians looking at retirement don’t feel retirement is about them?