10 Essential Decisions for Business Owners

July 1, 2019/in blog, Business Owners, Estate Planning /by CorePlan Financial Inc.

10 Essential Decisions for Business Owners

Business owners can be busy… they’re busy running a successful business, wearing lots of hats and making a ton of decisions. We’ve put together a list of 10 essential decisions for every business owner to consider.

10 essential decisions for a business owner from considering corporate structure to retirement and succession planning.

The essential questions include:

Best structure for your business (ex. Sole Proprietor, Corporation, Partnership)
Reduce taxes
What to do with surplus cash
Build employee loyalty
Reduce risk
Deal with the unexpected
Retire from your business
Sell your business
Keep your business in the family
What to do when you’re retired

As a financial advisor, we are uniquely positioned to help business owners, talk to us about your situation and we can provide the guidance you need.

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Financial Advice

May 1, 2019/in blog, Estate Planning, Family, Individuals, Retirees /by CorePlan Financial Inc.

An advisor can help you determine where you are today financially and where you want to go. An advisor can provide you guidance on how to reach your short, medium and long term financial goals.

Why work with a Financial Advisor?

Worry less about money and gain control.
Organize your finances.
Prioritize your goals.
Focus on the big picture.
Save money to reach your goals.

What can a Financial Advisor help you with?

Advisors can help you with accumulation and protection

Accumulation:

Cash Management – Savings and Debt
Tax Planning
Investments

Protection:

Insurance Planning
Health Insurance
Estate Planning

How do you start?

Establish and define the financial advisor-client relationship.
Gather information about current financial situation and goals including lifestyle goals.
Analyze and evaluate current financial status.
Develop and present strategies and solutions to achieve goals.
Implement recommendations.
Monitor and review recommendations. Adjust if necessary.

Next steps…

Talk to us about helping you get your finances in order so you can achieve your lifestyle and financial goals.
Feel confident in knowing you have a plan to get to your goals.

Getting the best from a financial advisor

April 2, 2018/in blog, Business Owners, Charitable Gifting, corporate, disability, Estate Planning, Family, Group Benefits, health benefits, Individuals, Investment, life insurance, long term care, pension plan, Retirees, RRSP, tax, Tax Free Savings Account, travel insurance /by CorePlan Financial Inc.

Working with a professional to help you to make sense of your finances can be a wise move, but for this relationship to work effectively it is important that you understand what to expect from your financial advisor.

What can your financial advisor help you with?

Defining your financial goals and creating a step by step plan or strategy to achieve them.
Planning for the future, including for retirement, future education or housing needs.
Choosing the mix of investments and assets that suit your goals, lifestyle, time horizon and appetite for risk.
Building a solid estate for your family to inherit in the future.
Choosing the most tax-efficient methods of saving and investing.

What should your financial advisor inform you of?

The range of services that they offer and how much and by which method you will compensate them.
Your mutual responsibilities and obligations towards each other.
What the planning process will look like and the documents that they will provide you with.

What will your financial advisor need from you or need to ask you about?

What your financial goals are.
What your personal circumstances – such as your marital status, any dependents, your job, earnings and tax situation.
Any investments or assets that you currently have – such as registered accounts, workplace pensions, property etc.
Your appetite for risk and investment preferences.
Information on your income and also your outgoings, including debts such as mortgages, loans or credit cards.
Whether or not you have a will, and its contents.
Your estate and inheritance planning situation.

If you’re looking to achieve your financial goals, talk to us. We can help.