AdviceCafé: Brewing Affordable Financial Advice for Canadians
What is it?
AdviceCafé is a place where anyone can grab a cup of unbiased financial advice without worrying about being sold a financial product. AdviceCafé is comfortable, cozy, and non-judgmental and 100% online! We park all our financial biases at the door and we invite members to do the same!
This advice-only offering is available for the small annual fee of $249 +tx, to anyone who’s looking for general financial advice so they can get more life from their money. It takes as little as 10-20 minutes to get started, and you could be making meaningful financial change within 30 days.
No product sales. No commissions. No pressure.
What are some typical topics we help members with?
Cash Flow & Debt Management
- Behaviour-based cash flow management concepts
- Understanding the cost of debt including mortgages, new purchases, and re-financing
- Debt management concepts
Financial & Retirement Planning
- Understanding and building your credit
- Understanding different types of investments and how various account types work (RRSPs, TFSA, FHSA, LIRA)
- The differences between Defined Contribution and Defined Benefit Pension plans
- How to stay on top of your estate planning, wills, power of attorney, and health directives
Benefits & Insurance
- How life insurance, critical illness and disability insurance work
- Making the most of your employee benefits plans, coverage and claims
What about working with my existing financial advisor?
AdviceCafé doesn’t replace your relationship with your existing advisor or institution. You can take what you learn by working with one of our advisors and apply it with an existing financial professional, or use it to manage things on your own.
How does it work?
When you sign up to be a member of AdviceCafé you are immediately provided with unlimited access to the following:
Live Support & Personalized Financial Tools
LIVE AdviceChat (8am-8pm Central Time) to ask any financial question. Automated responses cover common inquiries, while our experts handle more complex issues.
Winton App helps you build a comprehensive financial profile so the professional assigned to your case can better understand your current financial situation and provide tailored advice.
Digital Resources & Learning
- SideDrawer App offers secure document storage with 256-bit encryption (higher than many banks), file sharing, and seamless collaboration with other professionals, ensuring privacy and efficiency.
- The Morning Brew is a monthly digital e-newsletter from AdviceCafé, packed with timely and informative financial topics to keep you updated.
- AdviceCafé Financial Learning Library offers a variety of action-based, interactive eLearning courses and videos, helping you gain the knowledge to become more financially aware and confident.
Member Benefits & Exclusive Services
- 15% Discount on all a la carte services, including comprehensive financial planning for individuals, families, and business owners, audits (investment portfolios, insurance, mortgages), legal services (wills, POA, estate planning), and CRA tax preparation (personal and corporate).
- Exclusive Access to AdviceCafé-branded merchandise as an added perk for being part of our community.
No product sales. No commissions. No pressure.
What is the AdviceCafé App?
An initial consultation (virtual) is set right away, and the client must complete their profile prior to that session. Their advisor will answer any questions and review their current finances, all while making suggestions and providing practical, non-product related advice such as:
- Implementing behaviour-based spending strategies
- Easy to execute debt management tips
- How their credit score works
- Concepts to help save for important short-term goals, not just long-term goals like retirement
- How to free up cash flow to fund financial goals
- How to determine an accurate retirement income goal
- How to pay off debt more efficiently
- How much to save for emergencies, short term goals, and the future
- How to model health financial behavior in their family
The advisor will also recommend specific included financial eLearning materials they can access to enhance their understanding and implementation of the advice. Advisors providing AdviceCafé services will not sell individuals financial products of any kind to clients.