Our clients are unique. They have unique businesses, families and aspirations for the future. Our planning solutions are just as unique and are tailored to meet each client’s individual needs. We listen intently and then set out to build the best solution to fit.
Retirees
Retirement is no time to take undue risks with capital that has taken a lifetime to achieve. We support retirees by crafting a retirement income plan so they know how best to access their retirement income including how much they can afford to comfortably spend each year in retirement. We also help our clients to understand the various tools available to them to supplement their retirement income including:
- CPP & OAS
- Employer Pensions
- RRSPs, RRIFs & TFSAs
- Life insurance & Annuities
- Segregated funds, Mutual Funds & Pools
- Separately Managed Accounts of individual stocks and bonds.
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Busy Professionals
Experts in their own right but often lacking the time and know-how to carefully mitigate their financial risks while planning for their future beyond the office. We help to alleviate this burden so they can remain focused on running a successful practice knowing that they are capitalizing on the planning opportunities available to them.
We assist professionals with:
- Income and lifestyle protection
- Practice overhead protection
- Life insurance for family and business obligations
- Individual pension plans and savings strategies for a secure retirement
- Tax planning strategies for their corporation
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Family Businesses
Business families face a unique set of challenges as the operation, control and eventual succession of the business are intertwined with family dynamics. Complicating things further is the fact that many times only certain children wish to be involved in the family business while other siblings wish to pursue different career paths, creating the potential for long-term financial inequality amongst the next generation.
Life insurance is a key planning tool to:
- Fund capital gain taxes for each generation in the business
- Provide cash for estate equalization of non-active family members
- Provide an “insured buyout” for the retiring generation
We assist our clients and their other advisors with insurance planning advice that supports the successful transition of a family business.
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Growing Businesses
A successful business will often represent a significant portion of a shareholder’s personal net worth and as such it is important that this asset be protected. A shareholder agreement will help to establish the rights and responsibilities of each shareholder, including how the shares of the business will be transferred in the event of a shareholder’s death or incapacity, including:
- Who will buy the shares,
- The terms of the sale,
- When the sale is to take place,
- Source of money to buy the shares, and
- An equitable method for determining the purchase price
Life insurance funding is an integral component of any buy/sell agreement. It provides the cash necessary to satisfy the income tax burden realized in the year of death and to facilitate the orderly buyout of the deceased’s shares by the surviving shareholders. When structured properly an insured-buyout can reduce or even eliminate the tax bill that will arise on the death of a shareholder.
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Successful Entrepreneurs
Those who have been successful at growing a valuable business or amassing significant levels of wealth will also face meaningful levels of tax at death as the accrued gains on their assets become subject to capital gain taxation.
Without proactive planning, tax can significantly erode what’s left for future generations and cause liquidity issues creating the need to sell valuable assets just to satisfy the tax liability.
Life insurance is ideally suited to provide the required cash to address this tax at the precise moment it becomes due, eliminating the need to liquidate valuable investments, real estate or operating assets.
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Community Philanthropists
In our opinion personal financial success is not measured by financial abundance for personal comfort alone, but rather one’s ability to give back to their community and make a positive enduring difference in the lives of others.
We feel privileged to play a role in this process by assisting those clients with a heart for giving with the right tools and strategies to greatly enhance the impact of their gifts through proven insurance-assisted philanthropic strategies and Donor Advised Funds.
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