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Rona Rafal: Client Support Specialist & Advisor Assistant at iA Private Wealth

Based in Vancouver, British Columbia, Rona Rafal is a Client Support Specialist and Advisor Assistant with iA Private Wealth. In her role, Rona is dedicated to helping clients navigate the complexities of the financial world while supporting the work of financial advisors. Her strengths lie in providing impeccable organizational support for advisors and translating complex financial information into clear, accessible terms for clients. Above all, Rona values building meaningful, two-way relationships with clients, getting to know them on a personal level as she helps them work toward their financial goals.

 

Q: What advice would you give people just starting out with investing?

Rona Rafal: The first piece of advice I always offer is to create a plan. If you’re new to investing, seek guidance from someone experienced to help you develop a strategy for your financial future. The second thing to understand is the risk involved. Investing means there are both gains and losses, so it’s crucial to educate yourself or work with someone knowledgeable in the field. Third, diversify your portfolio. Rona Rafal Vancouver balanced mix of investments ensures you can still see growth, even when certain sectors—like real estate—may not be performing well. Finally, invest regularly. Start small if necessary, but consistently putting money into your investments will help you build wealth over time. I hope these steps give beginners a solid foundation for getting started!

Q: What are beneficial investments for parents to start now for their children in this economy?

Rona Rafal: One of the best investments parents can start for their children in Canada is the Tax-Free Savings Account (TFSA). This type of account grows tax-free, and any returns are not taxed when withdrawn. Additionally, you can take out funds at any time for any reason, with no penalties. For parents looking to secure their child’s financial future, the TFSA is a great long-term strategy. The earlier you start, the more you can benefit from compound growth. If possible, give it time to grow to maximize the returns.

Q: What is a client support specialist?

Rona Rafal: A Client Support Specialist is someone who plays a vital role in supporting the relationship between financial advisors and their clients. We handle a variety of tasks, such as organizing client profiles, preparing marketing materials, and planning client/advisor events. We also manage communications and often help translate complex financial jargon into terms that are easy for clients to understand. Financial topics can be intimidating, so our role is to simplify things and ensure everyone is on the same page. As a Client Support Specialist, I make sure the relationship between clients and advisors remains smooth, effective, and transparent.

Q: What’s one thing you’d advise people to avoid in the financial world to help secure their future?

Rona Rafal: Live within your means and avoid the temptation to overspend just to “keep up with the Joneses.” It’s easy to get caught up in wanting the biggest house or the latest luxury car, but this often leads to high monthly payments that don’t align with your income. The impulse to impress others or treat yourself is natural, but financially, it’s something to avoid. Focus on budgeting, saving, and investing for your future instead. Being disciplined about your spending today can lead to greater financial security tomorrow.

Q: What’s your best advice for first-time homebuyers?

Rona Rafal: My best advice for first-time homebuyers is to save as early as possible for the down payment and any additional costs associated with purchasing a home. Don’t forget that along with the purchase price, you’ll also need to furnish your new home—appliances like a fridge, stove, and washer/dryer can add up. Saving early for both the down payment and these additional costs will help ease the financial burden. Also, make sure to buy a home within your budget. If you’re taking out a mortgage, ensure that the monthly payments are manageable within your overall financial plan.

Q: What are the most important questions to ask when choosing a financial advisor?

Rona Rafal Vancouver When looking for a financial advisor, it’s essential to find someone who aligns with your needs. Some advisors specialize in personal finances, while others focus on business or corporate finance. Ask them about their typical clientele and the services they provide. It’s also important to ensure you feel comfortable with them—trust and rapport are critical when discussing your financial future. And don’t forget, a Client Support Specialist can be a valuable resource in this process too, helping to bridge communication and streamline the advisor-client relationship.

Q: Many young people are wondering how to get out of debt. What advice would you offer to someone struggling with debt?

Rona Rafal: There’s no quick fix to get out of debt, but the key is to start with a plan and stick to it. Begin by budgeting carefully and finding ways to reduce expenses. You may need to boost your income, whether by picking up additional shifts or taking on a side job. Every extra dollar you can direct toward paying off your debt makes a difference. Don’t compare your debt to others—just focus on your own situation. Start small, pay off one debt at a time, and you’ll feel a sense of relief that motivates you to keep going. Progress may be slow at first, but every step you take will bring you closer to financial freedom.

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