Your success deserves special attention
Wealth Management Consultants, Serving Business Owners in Western Canada
As business owners, we recognize the difficult tasks of running all aspects of your business, while being able provide a work / family life balance.
Our team will provide clarity where there is complexity, present an easy to understand quality financial plan with built-in solutions to your needs while maintaining harmony in your family circle when transferring to the next generation. We recommend Buy Sell, and Shareholders Agreements where there are multiple partners or owners.
We believe that all professionals are unique and deserve a well thought out, and comprehensive road-map which we will review regularly and update all as needed.
Want to grow your business? Ask us about our commercial lending programs.
Taxes don’t have to be so taxing
We’ll use all available strategies allowed under your provincial laws to minimize the amount of tax you pay on your investment income.
Our alternative to traditional banking
Our synchronized approach to financial planning involves having an open conversation with you about your real-life plans, and uses a variety of strategies based on your current financial picture to help you achieve them.
We understand that all of your financial needs are interconnected, and we treat them as such – from investing and managing debt; to making sure you only have the insurance you need; to paying as little tax as possible.
Getting the most out of your money
To feel at ease during volatile periods, focus on the long term, make sure your asset mix is optimized for your risk tolerance, and invest regularly.
The right guidance at the right time
We can help you figure out how much you need to save to achieve your future financial goals and secure your preferred retirement lifestyle.
Estate & Succession Planning
Planning for your estate
We will recommend solutions that help maximize your estate’s value, while helping to ensure your beneficiaries will receive everything you’ve planned for them. We can help you understand how the decisions you make today impact the value of your estate.
The tax act, federal, and provincial budgets are always evolving; hence, your strategies need to be consistently updated as needs change. Your CPA, and or Financial Planner, Advisor are best positioned to provide the advice necessary. Bill C-74, introduced in February 2018, made significant changes to TOSI, Tax on Split Income, the SBD, Small Business Deduction, Passive Investment rules, and so much more. Your CPA is best positioned to answer this question. You should seek clarification from your CPA as to what size businesses and the type of companies they represent.
Given our experience and expertise, every operation should have a minimum of three, perhaps more depending on the size of your business.
Every successful business owner at a minimum needs an Accountant, and or a CPA, a Holistic Financial Planner / Advisor, and Lawyer.
Many assume that an Accountant or CPA, is a Financial Planner; however, their purpose can be quite different, unless they have their CFP or relevant designation. You should seek clarification to the services they provide. In most cases, they only provide accounting & tax planning services.
A Financial Advisor has many roles. In today’s world, many financial advisors only provide Investment & Insurance products, when, in fact, there are six or more key planning disciplines. It is our firm belief that all farmers should receive complete holistic advice.
Tax Planning, Cash – Flow, Education, Debt, Investment, Insurance, Retirement, and Estate, Farm Succession. Peters Wealth Management provides a comprehensive financial plan.
Every Canadian, should at a minimum have Living Will, Medical Directives, POA, and whatever else may be required, depending on your situation. It is recommended your documents be five years current and reviewed every two years. ***These documents can neither be changed or updated, once the person in question has lost capacity****.
If you are a sole proprietor, then a Buy-Sell is not required, however, if you are incorporated, have holding companies, etc., then you should at the very least, consult with your trusted professionals. Without a buy-sell agreement, you could find yourself sharing the reins of your LLP or corp with your former partner’s spouse, children, or someone else. Would you want to be in business with someone who knows little about your business and does not have skin in the game?
A buy-sell agreement in basic terms, is an exit strategy for you and your business partners. It can protect you, your family, and partners, because it sets ground rules for how ownership shares should be dealt with or restructured, should you, or one of your partners leave the business.
If you ever need to act on your buy-sell agreement, the money will change hands. Do you have a cash account set aside for this purpose? Sources of revenue could include cash, Csv, installments, or collateral loans. Many shareholders and partners utilize life insurance as a cost- and tax-efficient solution. Cash values, also known as CSV, are available. If an entity-redemption agreement is in place, the Entity, LLP, or Corporation purchases individual life insurance contract on the lives of each owner. The entity then funds the monthly or annual premium and is both the owner, beneficiary of the agreement. When an owner of the policy passes away, the LLP, Corporation, an or Entity uses the income-tax-free sheltered death benefit to purchase the deceased owner’s shares. A cross-purchase buy-sell,allows each owner to buy a policy on the other owner(s). When one of the owners’ passes, the surviving owner(s) use the death benefit to purchase the deceased owner’s shares.
Yes, one of the greatest threats to your livelihood, is the ability to manage your risk beyond your control. All shareholders included in your LLP, or Corporation, run the risk of Death, Disability, Failure of Health, and eventually Long Term Care. Ask yourself this: If something were to happen that affected my ability to earn an income, how would I fare? What if this happened to my partner(s), how would it affect my LLP or Corp?
Peters Wealth Management does not charge a fee for building a holistic financial plan. Consultations provided at No Cost, No obligation to all. Full financial disclosures provided transparently, and at the time of any transaction executed at the request of the client.
We want to hear from you.
You deserve the value of a personal, lasting relationship.
Our commitment to face-to-face relationships, a proven investment approach, the breadth of our products, and the depth of our management are what make a relationship with us so rewarding.
We look forward to working with you to help you achieve your lifelong financial goals.