Business Owners.

Business Owners

Protecting and growing your business while planning for the future.

Your business is a reflection of your hard work, dedication, and vision. We partner with business owners to provide not just financial strategies, but peace of mind. Whether you’re looking to scale, protect your business, or create a succession plan, we help you take the next steps with confidence. We aim to give you clarity around the financial aspects of your business so that you can focus on what you do best—growing and running your business- knowing you have a solid plan for the future.

Common Questions

What are the benefits of having a Wealth Plan as a business owner?

Business owners constantly face the difficult challenge of balancing the needs of the business with the needs of the family. There are trade-offs in time and financial commitments required on the journey to reliable business earnings and growth that will help business owners achieve their financial goals.

Our Wealth Plan allows you to make the most of your assets by protecting them and ensuring that your wealth ends up in the right hands. An effective wealth plan employs tax-efficient strategies in every area of your financial dealings, plans for a comfortable retirement, factors in the unexpected and takes care of loved ones – now and in the future.

Wealth planning involves planning for the business as well as personal financial planning.. Although these aspects are often intertwined, business and personal financial plans have very different focuses. It’s important the plans are in sync to optimize the wealth building potential for the business owner.

I’m too busy managing my business to manage my investments too. Can you monitor the market for me and help make educated decisions?

Yes, we help you and your business throughout the various stages so you can move forward knowing that your goals are on track. We collaborate with your advisory team, including accountants and lawyers, to ensure the seamless execution of your wealth plan.

When should I start retirement and succession planning?

Business succession planning involves two priorities: 1) the transfer of ownership involving legal and tax structures and 2) the transition of management involving risk management and business continuity. The former involves technical or procedural items while the latter involves potentially emotional issues which are often initially overlooked but require time and attention.

Effective communication is fundamental to ensure a successful transition and to maintain long-term family harmony. It ensures understanding of the different perspectives and expectations of individuals in the three inter-related systems that make up a family enterprise: Family, Management and Ownership.

Succession planning should start as early as ten years before the planned exit in order for the transition to be most successful.

My tax bill is too high. Are there ways to pay less?

Business owners benefit most when personal and business taxes are considered in combination. It’s important to consider the right structure for your business to maximize tax efficiencies and to protect you and the assets you’ve accumulated within and outside of the business.

I know I should set up a contingency plan in case something happens to me. What does a plan look like and how much does it cost?

A contingency plan is crucial to ensure your business can persevere through challenging times. What happens if a fire breaks out in your manufacturing plant, customer data is lost or stolen, or a pandemic seriously affects your operations? A contingency plan involves accounting for potential difficulties like this, outside of the regular everyday challenges.

It involves planning for a situation where the business owner becomes critically ill, disabled, or dies. A contingency plan ensures that you, your loved ones, and your business will be covered for any of those events. Similar to protecting your business’ physical and intellectual assets, you can transfer the risk to an insurance company that will ensure your business and family are well covered if you’re faced with an unexpected illness, disability, or death.

I need to build a nest egg to provide my family with security. How can I grow wealth outside my business?

There are various ways to build your wealth and plan for the future. It’s important that your corporation is structured in a way that will allow you to help save and grow your assets more effectively.

I still have a lot of creative energy. What should I do when I sell my business? How can I leverage my ability to earn an income?

For many people, being semi-retired is preferable to full retirement. It may be that you’d like to earn supplemental income or that you just want to remain busy. Whatever the reason, you can plan to work part-time after you retire, whether it’s finding a new job, working as a consultant in your field or volunteering within your community.

As is the case in all areas of personal finance, the best strategy is always to properly plan and clearly define your goals. Going back to work in retirement can have many ramifications and discussing it with your advisor is crucial. We’ll help you make the right decisions so you can enjoy life while minimizing the effects on your finances.

I can’t say enough about the care and concern Richard shows every time I talk to him. His staff is also so supportive and have a friendly approach that is just brimming with good advice.

– Echoes In The Attic Handbags

  • Our Services

    Personal Wealth Planning

    Feel confident and secure knowing that your wealth is carefully planned to support your future, giving you peace of mind as you work toward your goals.

  • Our Services

    Retirement & Estate Planning

    Enjoy the peace of mind that comes with knowing your retirement is secured and your legacy will be preserved for those who matter most.

  • Our Services

    Investment Services

    Experience the comfort of having investments tailored to your values and goals, helping you grow your wealth with a clear sense of direction.

  • Our Services

    Insurance Planning

    Feel protected with insurance solutions that safeguard your family, assets, and business, ensuring you're prepared for life's uncertainties and able to preserve what you've worked hard to build.

  • Our Services

    Business

    Experience clarity and confidence as you navigate your business journey, with support in growing, protecting, and transitioning your business for the future.

  • Personal Wealth Planning
    Personal Wealth Planning
  • Retirement & Estate Planning
    Retirement & Estate Planning
  • Investment Services
    Investment Services
  • Insurance Planning
    Insurance Planning
  • Business
    Business

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