Our Expertise

Comprehensive Financial Planning

One of the best ways to start mapping out your financial planning strategy is to step back and look at your overall financial situation by having a comprehensive written financial plan prepared for you and your family. This is the cornerstone of our wealth management process. This type of financial plan addresses all aspects of your financial affairs, including cash and debt management, tax and investment planning, risk management, and retirement and estate planning. It ensures that you leave no stone unturned related to your financial situation and potential strategies to enhance your wealth. A comprehensive financial plan can address the following questions:

• Can I retire when I want to and maintain my desired retirement lifestyle?
• How can I ensure that I don’t outlive my money?
• What are some tax-efficient ways to save beyond traditional RRSP/TFSA (like Individual Pension Plans, Retirement Compensation Agreements or Insured Retirement Plans)
• How can I optimize my various retirement income streams?
• How can I minimize the taxes I pay each year?
• Is my investment mix appropriate?
• If I were to die unexpectedly, would my family be taken care of?
• How can I protect the value of my estate?

Wealth Transfer Planning

Any time wealth is transferred, there are tax implications. Careful planning is needed to maximize the amount of the transfer and minimize the taxes payable. Proper tax planning, done well in advance, can save you thousands of dollars in taxes, or even, in the case of high-net-worth households, hundreds of thousands of dollars. Below are some of the considerations:

• Tax efficient ways to transition wealth to your beneficiaries
• Meet tax obligations of your estate settlement without liquidating or eroding your estate's assets
• Minimize US estate tax exposure
• Evaluating suitability of trust and corporate structures

Risk Management

We understand that creating and effectively managing your wealth is just part of the equation. It's also important to preserve it. Through the use of insurance strategies, we can help you preserve your wealth during your lifetime, and protect the value of your estate for your family and other beneficiaries. Insurance strategies can also help you maximize the wealth you transfer to your heirs. Certain solutions using insurance products can provide a supplemental stream of cash, thereby enhancing retirement income. The net income derived from this strategy may be significantly higher than what is achievable with traditional fixed-income vehicles, especially during times of low interest rates.

For business owners, some of the best opportunities come from using tax-exempt life insurance. It is a tax-efficient means of transferring wealth out of a corporation into the hands of the next generation when you pass away. We have access to a wide array of business protection strategies geared towards the needs of businesses and corporations. An important part of preparing your business for continued success is to prepare it for the unexpected.

• Protect your estate's assets and your income in the event of disability, critical illness or long-term care situation
• Establish a fund to provide income for an individual you wish to support
• Funding buyout agreements and key person insurance
• Donate to charity
• Boost your retirement income

Business Succession Planning

Many business owners tend to procrastinate when implementing a business succession plan since running and growing their business is their top priority. According to the CFIB, one of the main reasons for failed successions is the lack of adequate time to plan and execute the succession of the business. Therefore, it is never too early to start planning. Below are some of the considerations:

• Minimize tax
• Buy-sell agreements
• Maintain family harmony
• Protect against sudden loss of key employee
• Benefits and retirement plans for your employees

Creating a Legacy

Many clients have an interest in making gifts to charitable causes they believe in. You may want to do so during your lifetime, or may prefer to leave a bequest in your Will. Gifts may be made in cash or with in-kind assets such as stocks, bonds, mutual funds, real estate, or artwork. As your wealth advisors, we can help you decide which types of assets to give and how to time their giving for maximum benefit. Even if tax credits are not your primary motivation for giving to causes close to your heart, you should take full advantage of all benefits available.

• Create a lasting legacy through a charitable gift fund
• Create a private foundation or endowment fund to support the charities you care about, and that reflect your family’s legacy
• Minimize your tax and estate liabilities
• Lower corporate taxes with charitable donation