Frequently Asked Questions

1. How is First Oak Financial compensated?

1. For planning work, we work on a fee-for-service basis – our current hourly rate is $225. Our quotes are fully transparent: we outline the amount of time we will spend on a plan, multiplied by the hourly rate. Our clients sign an Engagement Agreement that outlines exactly what the cost will be and what the planning work will produce (deliverables); there are no hidden fees or surprise billings. At the conclusion of the agreed upon work, our ongoing involvement is at the discretion of the client; there are no contracts or annual fees. We encourage our fee-for-service clients to schedule periodic reviews but there is no obligation to do so.
2. When we set up our clients with financial products such as life insurance, we receive a commission directly from the insurance company for which we place our client’s business with. For example, when we implement a life insurance policy for our client, the insurance company pays us a commission – there is no exchange of money between the client and us. This is a broker arrangement, as we have access to over 20 different insurance companies and will base our recommendation solely on the best fit for our client. We adhere to a strict code of conduct with FP Canada and always act in the best interests of our clients.

2. What is the initial process when contacting First Oak Financial?

When reaching out to us, you will be contacted within 2 business days (often sooner) by First Oak’s owner and Certified Financial Planner, Jeff Graham. We offer a 30-minute complimentary consultation, which allows us to get to know one another and determine if there might be a fit to work together. This is a no-obligation meeting. From there, the next steps will depend on what the client is looking for.

You can book meetings directly with Jeff Graham by clicking HERE.

3. What does a Certified Financial Planner do?

Certified Financial Planners (“CFP”) have expertise in the following six components: insurance, investments, tax planning, estate planning, retirement planning and financial management. First Oak’s owner, Jeff Graham, holds both the CFP and Chartered Life Underwriter (“CLU”) designations, so he has expertise in the above areas as well as using life insurance as a tax-and-legacy planning mechanism, particularly within privately-owned Canadian corporations.

We work in a very flexible capacity. We have clients who use our services to implement their life insurance, other clients who came to us for retirement planning, and everything else in between. Simply put, we offer our help where it is needed, and allow our clients to communicate the areas in which they want us to focus. We do not require a client to invest with us in order to oversee their insurance, for example. If our clients ask us for something that we are not equipped to handle, we will introduce them to someone who can help them.

4. Which insurance companies do you work with?

We are contracted with many of the top insurance companies in Canada, such as Canada Life, BMO Insurance, RBC Insurance, Empire Life, Industrial Alliance, Beneva, Equitable Life, Sunlife, Manulife, and many others. We also offer our clients non-traditional insurers like Humania and Canada Protection Plan.

5. What types of insurance do you offer?

For individuals and families, we offer life insurance, critical illness insurance, long-term care insurance, income replacement insurance, personal health insurance and travel insurance. For business owners and businesses, many of the same insurances apply, as well as corporately-owned life insurance, key person insurance, group benefit plans, shared ownership plans, business overhead expense coverage, and health spending accounts (“HSA”), among others.

6. What are some of the investments you offer?

Accounts: RRSP, TFSA, RRIF, Non-Registered, RESP, Spousal RRIF, Individual Pension Plans (“IPP”), locked-in pension plans, First Home Savings Account (FHSA), term and life annuities, and the Advanced Life Deferred Annuity.

Investment products: Guaranteed Investment Funds, Annuities, GICs, Exchange-Traded Funds (“ETF”).

7. What is the best way to get in contact with you?

By phone at (604) 363-7549, by email at info@firstoakfinancial.ca, or book a meeting directly with Jeff Graham, First Oak’s owner, by clicking HERE.