Small and medium-sized business owners can make great clients. Their net worth is usually higher than average and their complex needs allow the advisor to demonstrate their expertise in tax and estate planning. If there is one area that needs special attention, however, it is succession planning. Nearly half of Canadian family business owners have […]
Many Canadians have built their wealth by operating a small business. Now, with an aging workforce and an economy on the upswing, many owners are weighing the benefits of selling their business to a third party or of transitioning it to a family member.
What do you do when your client enters retirement with a mortgage or other debt? It happens all the time. In fact, the stats show us that 40% of Canadians are retiring with debt and some are even accruing debt in retirement. At this point it’s too late to avoid retiring with debt, so what […]
There are opportunities clients should certainly take advantage of to shelter or defer the tax on those gains
After helping clients with their financial, estate and retirement planning, advisors often have a strong relationship with their clients. That puts us in a unique position to discuss succession planning with those clients who are also business owners. In many cases, we’ve already implemented plans or products to protect their assets and the value of […]
It's in the advisor’s interest to provide assistance should an entrepreneur consider selling their business