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A question sometimes asked in the media is exactly what is the role of a financial professional and how do they help the client meet their life goals and dreams. Why do you even need to engage the services of a planner or advisor when so much information is already available for free on the internet and elsewhere?

Statistics Canada reported in 2007 that most eldercare (75%) was provided by those between 45 and 64 years of age. These Canadians, often called the sandwich generation, are increasingly finding themselves spending their own savings to care for their elderly parents, while giving money to their kids for university and trying to save for themselves.

A 2012 BMO survey confirmed that 7 out of 10 caregivers were providing some sort of financial assistance to parents or aging relatives, and half of these caregivers reported they had to adjust their own retirement plans as a result.