What is PPI Valet?
Continue reading “How PPI Valet Can Help Your Business”
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Should You Consider Using a Robo-Advisor?
As a business owner, insurance can provide not only protection, but also opportunity when it comes to growing one’s business. Life insurance policies can protect shareholders and their family members, the corporation itself, and key persons to the business. And, it can also enhance the cash flow to the corporation by assigning the policy as collateral for a loan.
As an Advisor who runs your own practice, you are likely aware of how this works. But do your clients who are business owners need a little help in learning more about their options? Do they have a shareholders’ agreement, key person insurance, or understand how corporate insurance can be used tax effectively to benefit a charity?
Here’s a client article that helps explain how business owners can utilize insurance to provide both opportunity and security while building their assets in a tax-effective way for their retirement or estate plan. To learn more about the CDA, read Turn Your Clients into CDA Wizards.
If your clients are uncertain on whether joint life coverage is right for them and their spouse, highlight the following benefits for them:
Read the article below that explains this in more detail and share it with your client from thelinkbetween.ca, our client-friendly insurance blog.
Segregated Funds have been around for over 50 years yet many Canadians have never heard of them. As their advisor, you can help your clients understand more about them so they can explore all their options and achieve the right balance for their retirement.
Share the short client article below and educational video that explains what segregated funds are and provides examples of two portfolios in a bull market and a down market.
Contact your client today to help them achieve that peace of mind.
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SMART TALK... about investments
Running a family business has challenges that include head and heart issues which aren’t typically present in other businesses. However, the proverb about shirtsleeves to shirtsleeves – that family enterprises often fail by the third generation – does not need to be a reality for these families. Family enterprises can improve their chances of achieving intergenerational continuity by building their knowledge and skills – and by working with advisors who understand their unique needs and goals.
Continue reading “Help Family Enterprise Clients Avoid ‘Shirtsleeves to Shirtsleeves’”
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Empower the Enterprising Strength of your Family
The gifting of life insurance to registered charities has always been a popular method for individuals to fulfill their philanthropic goals. For some of your clients, this may be worth considering when it comes to a charity that is near and dear to their heart.
There are two basic options:
Continue reading “How Life Insurance can Help your Client’s Favourite Charity”
Did you know that over 50% of Canadians do not have a will?* Why? Some don’t know how to get started while others believe they can’t afford it.
Do your clients have a will in place? Is it up-to-date? Help your clients understand the importance of having a will. A will is an important part of their overall plan and without one, assets would be distributed as per provincial intestate legislation. This process takes time, can increase costs, and probably will not match their wishes for their estate. A will is needed in most cases – anyone with assets and/or wishing to give direction for the distribution of assets upon death.
Continue reading “Coordinating the Completion of Your Client’s Will”
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Where there’s a will, it will be your way
Assisting your clients with planning for the transition of wealth to their children and grandchildren doesn’t have to be a daunting task. Start the conversations with your clients now so they begin to understand the impact of tax on their estate assets.
Do your clients understand the tax implications that occur upon death? There would be a deemed disposition of all their assets at fair market value which could result in tax (excludes the principle residence). There is, however, an exception for assets rolled to a spouse.
Continue reading “Increase Estate Assets Through a Beneficiary Designation”
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Sharing Your Wealth with the Next Generation
In family succession plans, it can be difficult to transfer the shares of the family business to the next generation while still taking advantage of the capital gains exemption. This difficulty arises due to an anti-avoidance provision in the Income Tax Act. Life insurance can be used to accomplish the transfer on a tax efficient basis.
Bill and Joan, a married couple, are sole shareholders of XYZ Corporation. They want to retire and sell some of the company shares to their son, Bob, without financially burdening the business. It is difficult, however, for Bob to obtain the funds personally in order to complete the purchase of the shares from his parents.
Continue reading “Case Study: Using the Capital Gains Exemption in a Family Succession Plan”
The industry is changing, but is your practice keeping up? Be your own compliance officer and keep your insurance offerings up-to-date with regulatory obligations and insurance carrier policies.
Advisors are subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated regulations. As required under the Act – which has been in place since October 2000 – an Advisor must have an anti-money laundering (AML) compliance regime in place to meet with reporting, record keeping and client identification requirements. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is an active regulator responsible for auditing Advisors to ensure compliance with the Act. Advisors who are audited and found to have no policies in place could be subject to heavy fines.
The required elements of an AML Compliance Regime are:
Continue reading “Protecting your Practice: Are you Complying with your Regulatory Obligations?”
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The Value of Good Advice