First Financial Planner Meeting: What to Bring (2025)

One of the most expensive money mistakes isn’t picking the “wrong” investment—it’s walking into a first financial planner meeting with half the story. When interest rates swing, mortgage renewals get tense, and prices keep nibbling at your budget, missing details leads to fuzzy advice.

If you’re a couple in your 30s with a household income around $130,000 (a common scenario planners see), you’re probably juggling a lot at once: retirement savings, maybe kids soon (or already), debt decisions, and the nagging sense that you should have a plan—just not sure where to start. The reality? Preparation is simpler than most people think, and it pays off immediately.

This post is part of our Interest Rates, Banking & Personal Finance series, so we’ll frame everything through today’s reality: rate uncertainty, expensive borrowing, and the need for a plan that holds up even if the Bank of Canada shifts direction again.

What a first financial planner meeting is really for

The first meeting isn’t about being judged. It’s about getting a clear “map” of your finances so a professional can spot what matters, what doesn’t, and where you’re leaking money (or taking risks you didn’t realize you were taking).

A good first meeting typically aims to:

• Clarify goals and timelines (home purchase, kids, career change, early retirement, sabbatical)
• Identify cash-flow pressure points (high-interest debt, variable-rate exposure, inconsistent spending)
• Review your balance sheet (what you own vs. what you owe)
• Set the scope: a one-time plan, ongoing advice, or targeted help (mortgage renewal, debt payoff, investing)

A strong plan doesn’t predict interest rates. It builds a household that can handle rate changes.

If you leave the meeting with three things—your next best action, a short list of priorities, and clarity on trade-offs—that’s a win.

Your pre-meeting checklist: documents to bring (and why)

Bring documents that explain your income, debts, spending, and savings. Not because planners love paperwork, but because numbers end arguments and prevent guesswork.

Income: prove the cash coming in

Bring the most recent:

• Pay stubs for both partners (or last 2–3 if income varies)
• Last year’s tax returns and notices of assessment
• Bonus/commission details if applicable
• If self-employed: last 12 months of business revenue/expense summary plus last 2 years of tax filings

Why it matters right now: in a higher-rate environment, borrowing capacity and savings rates are sensitive to income stability. A planner can also flag tax planning opportunities (RRSP vs TFSA vs corporate considerations) once they see how you’re paid.

Spending: show where the money actually goes

Pick one of these approaches:

1. 90-day bank/credit card statements (most realistic), or
2. A simple monthly budget you’ve been using, or
3. A spending export from your banking app

Include:

• Chequing and savings account statements
• Credit card statements (all cards)
• Any “buy now, pay later” balances

Why it matters: your budget is the engine of every other decision—debt payoff, investing, mortgage options, and even insurance needs. Planners can’t optimize what they can’t see.

Debt: list balances, rates, and renewal dates

Bring statements for:

• Mortgage (balance, rate type, term end date, payment, amortization)
• HELOC (balance and interest rate)
• Car loans
• Student loans
• Credit cards
• Personal loans

Also bring your credit score if you have it handy, but don’t stress if you don’t.

Why it matters in the Interest Rates series context: debt strategy is rate strategy. If you’re sitting on 19% credit card debt while also investing, most households should reverse that order. And if you have variable-rate exposure, your “plan” needs a buffer.

Investments: bring the whole picture, not just the “fun” accounts

Gather:

• RRSP, TFSA, FHSA, RESP statements
• Employer pension details (DB/DC, matching formulas)
• Non-registered investment account statements
• Any robo-advisor or brokerage holdings list

If possible, include:

• Current asset mix (stocks/bonds/cash)
• Fees (MERs, account fees, advisory fees)
• Contribution history (how much and how often)

Why it matters: in choppy markets and shifting rates, portfolios often drift into a risk level people didn’t intend. The planner’s job is to align investments with your real timeline and capacity for volatility—not your mood.

Insurance & estate basics: the unglamorous stuff that protects the plan

Bring what you have:

• Life insurance policies (term/permanent, coverage amounts, premiums)
• Disability insurance details
• Group benefits summary from employers
• Wills and powers of attorney (if you have them)

Why it matters: debt + dependents + no insurance is a fragile setup. Even if you’re “young and healthy,” disability risk is usually the bigger blind spot than life insurance.

The questions you should ask (so you can tell if the planner is good)

A first financial planner meeting is also an interview. You’re hiring someone to help you make decisions that can affect decades of your life.

Ask how they get paid—then get specific

You want a plain-language answer. Common structures:

• Fee-only / fee-for-service (you pay for a plan or hourly advice)
• Assets under management (AUM) (they manage investments and charge a %)
• Commission-based (they earn from selling products; may create conflicts)

Ask:

• “What will I pay in year one, in dollars?”
• “What services are included—and what costs extra?”
• “Do you receive commissions or referral fees from any products you recommend?”

Ask what the first 90 days looks like

A good process has steps. Ask:

• “What do you deliver after this meeting?”
• “Will I get a written plan with action items and timelines?”
• “How do you handle implementation—do you do it, or do I?”

Ask how they approach debt vs investing in a high-rate cycle

This is where you’ll hear whether they’re practical.

Prompt them:

• “If we have debt at X% and investments earning Y% on average, how do you decide what to prioritize?”
• “What’s your approach to variable-rate risk and renewals?”

If they can’t explain trade-offs clearly, you’ll struggle later.

A realistic example: a $130K household in their 30s

Here’s a common picture (not a universal rule):

• Household gross income: $130,000
• Mortgage: $520,000 remaining, renewal in 10 months
• TFSA: $25,000 combined
• RRSP: $60,000 combined
• Credit card debt: $9,000
• Car loan: $18,000
• Emergency fund: $2,000

A planner will usually triage in this order:

1. Stabilize cash flow: find $300–$800/month by cutting friction spending or restructuring payments.
2. Kill high-interest debt: credit cards first (often the highest guaranteed “return”).
3. Build a real emergency fund: many planners target 3 months of essential expenses, but the right number depends on job stability and variable-rate exposure.
4. Map mortgage renewal options early: 6–9 months out is not too early. Renewal strategy should consider payment shock risk, prepayment privileges, and how much flexibility you need.
5. Then optimize investing: contributions aligned with goals (TFSA vs RRSP), rebalancing, and fees.

This matters because rate changes don’t just affect mortgages. They affect cash-flow resilience, and that’s the difference between “we’ll be fine” and “we’re one surprise bill away from carrying a balance again.”

How to prepare personally (the part people skip)

Documents are easy. Clarity is harder—and more valuable.

Write down your top 3 goals (and rank them)

Do this separately, then compare.

Examples:

• “Buy a home in 2 years with a 15% down payment.”
• “Be able to handle a mortgage renewal even if rates are 1–2% higher than today.”
• “Start a family and keep one income optional for 12 months.”

Planners can build around trade-offs, but only if you’re honest about priorities.

Decide what you want help with

Some people want a full financial plan. Others want a targeted outcome:

• A debt payoff plan
• Mortgage renewal strategy
• Investment and asset allocation review
• Tax planning (RRSP vs TFSA decisions, spousal planning)

If you don’t define the job, you’ll pay for work you didn’t actually want.

Be ready to talk about risk in plain language

Instead of “moderate risk,” say:

• “If our investments dropped 20%, would we sell?”
• “How stable are our jobs if the economy slows?”
• “Do we need this money in 3 years or 30?”

That’s the conversation that leads to a portfolio you can stick with.

Common mistakes in first planner meetings (and how to avoid them)

Most companies get this wrong: they treat the meeting like a confession booth instead of a strategy session.

Avoid these:

• Hiding debts or accounts: it slows everything down and leads to bad advice.
• Over-focusing on investments while ignoring cash flow: investing won’t fix a leaky budget.
• Not discussing upcoming rate resets: mortgage renewal dates should be front and center.
• Forgetting about benefits: employer matching and health benefits are real dollars.
• Walking away without next steps: you should leave with a short action list and timelines.

If your plan doesn’t change what you do next month, it’s not a plan—it’s a report.

A simple “bring this” one-pager (copy/paste)

If you want the fastest, most productive first financial planner meeting, show up with:

• IDs for both partners
• Last pay stubs + last year tax returns/notices
• 90 days of bank + credit card statements
• Mortgage statement + renewal date, plus any HELOC/loans
• Investment statements (RRSP/TFSA/FHSA/RESP/non-registered)
• Pension and benefits summaries
• Insurance policies (life/disability)
• A list of goals (top 3) and upcoming big expenses in the next 24 months

Your next step

If you’re feeling “we make good money, so why does it feel tight?” you’re not alone—especially with borrowing costs still a major pressure point. A first financial planner meeting can turn that fog into a prioritized plan: what to pay off first, what to automate, how to prepare for a mortgage renewal, and how to invest without second-guessing every headline.

For your next meeting, aim for one outcome: walk out with a written list of the next 3 moves (with dates and dollar amounts). If the planner can’t get you there, keep looking.

What’s the one decision you’d like to make confidently in the next 6 months—debt payoff, mortgage renewal, investing, or something else? That answer tells you exactly how to use a planner well.