First Financial Planner Meeting: What to Bring in 2025

A couple earning $130,000 a year can feel “comfortable” right up until the moment interest rates, mortgage renewal math, and daycare costs collide. That’s why the first meeting with a financial planner is usually less about picking investments and more about getting your whole financial life organized—fast.

In late 2025, the high-interest rate environment has made small decisions expensive. A 1–2% difference on a mortgage renewal or a line of credit balance isn’t trivia anymore; it’s hundreds of dollars a month. The good news: your first planner meeting can pay for itself quickly—if you show up prepared.

This guide is built for Canadians booking that first appointment (often in their 30s, often juggling a mortgage, rising costs, and competing goals). It’s practical, it’s specific, and it’s designed for the “Interest Rates, Banking & Personal Finance” reality we’re living in.

Start with one decision: what you want this meeting to solve

The best first financial planner meeting isn’t a data dump—it’s a problem-solving session. Your planner can only help if you’re clear on what “better” looks like.

Before you gather documents, write down three outcomes you’d be happy to leave with. Examples:

• “We want to know if we should prioritize RRSP vs TFSA in 2026.”
• “We’re renewing our mortgage in 9 months—what’s our best mortgage strategy?”
• “We need a plan to eliminate high-interest debt without pausing retirement saving.”
• “We want to start an RESP but don’t want to overcommit cash flow.”

If you’re a household around $130,000, you’re usually in the zone where cash flow looks okay on paper—but one rate reset, one parental leave, or one unexpected home repair can expose weak spots. A planner’s job is to find those weak spots early.

A simple goals worksheet (10 minutes)

Bring a one-page note that answers:

1. What are we optimizing for right now? (Lower stress? Faster home payoff? Retirement? Flexibility?)
2. What’s coming in the next 24 months? (Mortgage renewal, mat/parental leave, move, wedding, car purchase)
3. What keeps us up at night financially?

That one page will shape the entire meeting.

Bring the right documents (and skip the noise)

A planner doesn’t need every receipt you’ve ever kept. They do need an accurate snapshot of your income, spending, debts, assets, and insurance—especially with borrowing costs still elevated.

Here’s what to bring (digital is fine).

Income and tax: prove the cash flow

Income drives everything: your mortgage options, debt payoff pace, and how much room you actually have for RRSP/TFSA contributions.

Bring:

• Your last two pay stubs (each spouse/partner)
• Your most recent Notice of Assessment (and ideally last year’s too)
• Any details on bonuses, commissions, RSUs, or side income
• If you’re self-employed: last 2 years of business and personal tax filings + year-to-date income

Why planners care in 2025: tax planning is often the easiest “instant win.” For many dual-income households, the RRSP vs TFSA decision changes once you factor in marginal tax brackets, childcare deductions, and benefit impacts.

Banking and spending: show the real monthly baseline

Most people underestimate spending by 15–30% because they forget annual and semi-annual bills.

Bring:

• Last 3 months of chequing and savings statements
• Last 3 months of credit card statements (all cards)
• A list of “lumpy” expenses: property tax, insurance premiums, kids’ activities, gifts, travel

A planner can’t build a debt-payoff plan if your “monthly surplus” is imaginary.

Debt details: interest rate is the headline

In a high-rate cycle, your interest rates are not background info—they’re the main character.

Bring statements for:

• Mortgage (balance, rate type, term end date, payment, amortization)
• HELOC and personal lines of credit (rate, payment, limit)
• Credit cards (rate, balance)
• Student loans, car loans

Also bring:

• Your mortgage renewal date and any renewal letters you’ve received
• If you’re variable: the current rate and payment structure (fixed payment vs adjustable)

A prepared planner will quickly identify whether you should:

• Make prepayments vs invest
• Convert variable to fixed (or not)
• Blend/extend
• Refinance to consolidate high-interest debt

Investments: a clean inventory beats perfect performance charts

Bring the most recent statements for:

• RRSPs, TFSAs, RESPs
• Work pension (DB or DC plan details)
• Non-registered investments
• Employer matching details

And include:

• Your contribution room (TFSA and RRSP, if you know it)
• Any group benefits investing options
• Fees if you can find them (MERs, account fees)

Your planner is looking for overlap, hidden concentration risk (too much in one sector), and whether your portfolio matches your time horizon—especially if you’re also carrying high-interest debt.

Insurance and estate basics: the boring stuff that prevents disasters

This is where many first meetings fall apart because people “mean to look it up.” Bring it.

• Life insurance policies (term/permanent, coverage amounts, premiums)
• Disability and critical illness coverage (especially through work)
• Home and auto insurance (optional, but useful for budgeting)
• Wills and powers of attorney (or note that you don’t have them)

If you have kids or a mortgage, disability insurance often matters more than life insurance because income loss is the fastest route to financial crisis.

Prepare for the interest-rate conversation (it’s not just your mortgage)

Interest rates affect more than your renewal. They change what “smart” looks like across your whole plan.

A strong first meeting should include a clear rate-sensitive analysis in plain language:

Mortgage renewal: run three scenarios

Ask your planner to model:

1. Rates stay roughly flat for the next 12–24 months
2. Rates drop modestly, and you can refinance or renew lower
3. Rates rise again, and your cash flow tightens

Bring your current payment and ask: “At renewal, what payment would put us at risk?” That’s the number you plan around.

Debt vs investing: pick an honest hurdle rate

A practical rule: if you’re paying high interest (common on credit cards and some unsecured LOCs), paying it off is usually the cleanest guaranteed “return.”

But mortgages and low-rate student loans can be more nuanced.

Ask your planner:

• “What after-tax return would we need to beat paying this down?”
• “What’s the priority order for extra dollars: emergency fund, debt prepayment, TFSA, RRSP?”

A household income of $130,000 often sits in a spot where RRSP contributions can produce meaningful tax refunds—but only if cash flow is stable and high-interest debt is controlled.

Savings accounts and GIC ladders: make idle cash work

If you’re holding a big cash balance “just in case,” your planner should help you split it into buckets:

• Emergency fund (liquid, boring, accessible)
• Near-term goals (often a high-interest savings account or short GIC)
• Long-term investing (TFSA/RRSP/non-registered based on the plan)

You’re not trying to “time” Bank of Canada decisions. You’re trying to stop cash from sitting in a zero-intent limbo.

Know how your planner gets paid (and what you’re buying)

The first meeting is also a screening interview. You’re hiring someone to influence decisions that can cost (or save) you tens of thousands over time.

Ask directly:

• “Are you fee-only, fee-for-service, or do you earn commissions?”
• “What will the full plan include—cash flow, taxes, insurance, retirement projections, mortgage guidance?”
• “How do you handle conflicts of interest?”
• “What do ongoing reviews cost, and what do I get for that?”

My opinion: clarity beats charisma. If you leave unsure how they’re compensated, you’re starting the relationship in a fog.

Bring a few numbers your planner will ask for anyway

Write these down before the meeting:

• Current balances: mortgage, LOC, credit cards, savings, investments
• Monthly housing costs (mortgage/rent, property tax, insurance, condo fees)
• Childcare costs
• Any planned big expenses in the next 2 years

It’s not about perfection. It’s about avoiding an hour of “I’ll check later.”

Questions to ask in your first financial planner meeting

A first meeting should end with decisions or at least a clear next-step list. These questions help force that.

Cash flow and debt

• “What’s the simplest plan to create an extra $500–$1,000/month surplus?”
• “Which debt do we attack first, and why?”
• “Should we consolidate, refinance, or keep debts separate?”

Mortgage strategy

• “Given our renewal timeline, what should we do in the next 90 days?”
• “How much prepayment makes sense without sacrificing other goals?”

Savings and investing (RRSP/TFSA)

• “Based on our income and benefits, what’s the right split between RRSP and TFSA next year?”
• “What asset mix fits our risk tolerance—and what would make us change it?”

Protection and planning

• “Are we underinsured for disability or life insurance?”
• “If one of us couldn’t work for 6 months, what breaks first?”

A good planner doesn’t just answer questions. They surface the questions you didn’t think to ask.

A realistic prep checklist (use this the week before)

If you only do one thing, do this. Put everything in a single folder.

1. Pay stubs + last 2 Notices of Assessment
2. Mortgage statement + renewal date + any renewal offers
3. LOC/credit card statements + interest rates
4. Investment statements (RRSP/TFSA/RESP/pension)
5. 3 months of bank + credit card statements
6. Insurance summaries (life/disability/critical illness)
7. One-page goals worksheet (top 3 priorities)

If you’re missing items, don’t cancel. Bring what you have and tell the planner what’s outstanding.

What happens after the meeting (and how to get value fast)

Most households don’t need a 60-page plan to make progress. They need a few smart moves executed in the right order.

Within two weeks of your first meeting, you should have:

• A clear cash flow number (what you can save/invest/pay down monthly)
• A debt payoff strategy that reflects today’s interest rates
• A mortgage renewal action list (dates, options, tradeoffs)
• A specific RRSP/TFSA contribution plan tied to your income and tax picture

This post is part of our Interest Rates, Banking & Personal Finance series for a reason: the most expensive financial mistakes right now are the boring ones—renewing blindly, carrying high-interest balances too long, or parking cash without a plan.

If you’re booking your first financial planner meeting in 2025, what’s the one number you want to understand better before you walk in: your true monthly surplus, your renewal payment risk, or your debt interest cost?