If you're about to go through a divorce, no doubt you've thought a great deal about the emotional consequences of ending your marriage. But Akeela B. Davis, CFP, RFP, EPC, Investment Advisor with TD Waterhouse in Vancouver, British Columbia stresses that it's equally important — if not more so — to understand exactly how divorce will affect you financially. "As a practicing financial planner, I have seen many individuals come out of a divorce and, five years later, their financial situation was just dismal," she says. "They may have been in high-asset marriages, but they didn't know what their rights or entitlements were at the time of the divorce. They just wanted out of the relationship."

Dwelling on emotional issues alone can have grave financial consequences. It's a question of balance, Ms. Davis says: "One of the things a financial divorce specialist does is help remove the emotion. I tell my clients, 'I understand how you feel, but let's take a look at your decision. What would it look like five or ten years from now?' " If you're at this important crossroads in your life, Akeela B. Davis can empower you to handle the financial challenges of divorce.

The author of the book Divorce Dollars: Get Your Fair Share, 2^nd edition (Self-Counsel Press, 2006), Akeela B. Davis has been an Investment Advisor for 15 years. She's worked as a divorce investment advisor for the past seven years, and often speaks to her clients about the following six points.

• Life is a dynamic process – and so is wealth management. "That's why we need to do a plan," she insists. "The plan's job is to try and anticipate the events that could occur in your life, so we can minimize the negative impact."

• Make sure the plan encompasses all aspects of your life, from risk management and estate planning to tax planning and investment planning. "It should be a broad canvas of your life," explains Akeela.

• Know that when you take action, it gives you control, so you can act rather than react. "This is really an important point," says Akeela.

• Remember that money is just a means to an end. It's not an end in itself, she says: "It's a matter of deciding what you want out of life, and what you're willing to do to make it happen."

• Think in terms of creating solutions to your current situation. "To this point, I bring my education, my experience, and the team approach. I will work with your lawyer and accountant to make sure things get done correctly."

• Stay on track with your plan. "This is where I come in," says Akeela. "My clients have busy lives and don't have time to make sure their plans are on track. This is my profession. I will make sure you have time every year to review your plan."

Akeela takes a professional approach with her clients, but is always empathetic and warm, so they feel comfortable working with her. When asked what she enjoys most about her work, she quickly answers: "What I like about it is when people are leaving my office, they're walking a little bit taller. They tell me, ‘I'm so glad I came to see you. I feel I can handle this.' "

While divorce is never easy, Akeela believes that there is opportunity for positive growth even in this stressful time. "If you do some calm thinking and planning with a knowledgeable, experienced professional, then your post-divorce life may be all the better for the lessons learned during the ordeal," she concludes.

Akeela B. Davis, CFP, RFP, EPC, FDS
Investment Advisor
TD Waterhouse Canada
700 West Georgia Street, 10^th Floor
Vancouver, BC V7Y 1A2
Phone: (604) 482-2450
Toll free (888) 668-9966
Fax: (604) 482-8427

Akeela Davis has written the following article:

• Separation Agreement Considerations and Separation Preparedness