The Financial Details panel collects essential personal details about the account holder, such as Breakdown of income sources and net worth, including Optimize and external assets. This information is critical for identity verification, compliance, and client communication.
If the client’s details already exist within the CRM, the information in this panel will auto-populate. You must still open the panel to review, verify accuracy, and click Save to mark it complete.
Filling Out the Annual Income Details
Enter the client's annual income details into the provided fields:
- Employment Income: Enter the income received from full-time or part-time employment.
- Disability or employment insurance: If the client receives disability or employment insurance please enter the amount.
- Company Pension: Enter the company pensions. This amount should not include any amount received from government pensions, such as the Canada Pension Plan or Old Age Security.
- Canada Pension Plan (CPP): Enter the income received from CPP. Annual payments are typically approx. $9,000 and generally not greater than $16,000.
- Old Age Security (OAS): Enter the income received from OAS. Annual payments are typically approx. $6,000 and generally not greater than $8,500.
- Withdrawals from Bank Accounts: Enter the income received from withdrawals made from a bank account with monies held outside of the client's investment accounts.
- Withdrawals from Investment Accounts: Enter the income received from withdrawals made from the client's investment accounts. *For clients with an an Employment Status of 'Retired', please include the amount which the Client currently withdraws directly from their Investment Accounts for the purposes of Funding their Retirement Needs.*
- Other Income: Enter income received from other sources not listed above. (E.g., Rental property Income, Spousal Support, Draw of Dividends)
- Source of Other Income: If the Client receives 'Other Income', please note the types of 'Other Income' as applicable by specifying one or more of the following in the 'Source of Other Income' Field and whether All of the 'Other Income' is derived from that 'Source of Other Income' or a certain amount is derived from that 'Source of Other Income.
- Total Annual Income: Enter the total annual income.
Note: If the client has no income in a particular field, please input 0 instead of leaving it blank.
Filling Out the Net Worth Details
Enter the client's net worth details into the provided fields:
- Cash: Enter the cash held in bank accounts or equivalents.
- Registered Investments at Optimize: 'Registered Investments' refers to the amounts which the Client holds across all their registered accounts at Optimize such as their RRSP, RRIF, TFSA, RESP, RDSP, LRSP, LIRA, LIF and FHSA, or the total market value of Registered Investments being transferred to Optimize for New Clients.
- Non-Registered Investments at Optimize: Enter the amounts invested in Stocks, Mutual Funds, GICs , or other financial securities in non-registered accounts. Please note that if there are any Cash Account(s) held in joint name with their Spouse or someone else at Optimize, only the amount accounted for in their share should be reported (e.g. 50% of the Cash Account if held jointly with their Spouse).
- Fixed Assets: Enter the fair market value of all properties owned by the client. 'Fixed Assets' refers to the total amount which the Client holds across all Real Estate holdings such as their principal residence, cottage and rental properties.
- Mortgages: Enter the amount of mortgages that the client has.
- Lines of Credit: Enter the lines of credit amount that the client has.
- Personal Loans and Credit Card Balances: Enter the personal loans and credit card balances that the client has.
- Assets at other Financial Institutions: Indicate whether the client has assets held outside of Optimize.
- Total Net Worth: Enter the total net worth.
Note: If the client has no income in a particular field, please input 0 instead of leaving it blank.
Saving the Panel
After completing all required fields:
- Click Save to lock in the provided details.
- The panel status will update from Incomplete (yellow) to Complete (green) upon successful saving.
Example of Completed Financial Details Panel
