As more and more baby boomers get ready to retire, so do the thousands of entrepreneurs within this generation – many of whom would benefit from a sound business succession plan. In a November 2015 report, the Canadian Federation of Independent Business (CFIB) described succession…
With the deadline to file 2015 personal income tax returns fast approaching, BMO Wealth Management asked Canadians what tax topics are on their minds most. Top five tax questions answered: 1. SHOULD I CONTRIBUTE TO MY RRSP OR TFSA? (Asked by 46% of those polled)…
Jeffrey Gundlach correctly predicted that oil and junk bonds would suffer in 2015. But some are hoping his call on the U.S. election – that Donald Trump will become president – won’t come true. A few folks exchanged worried glances when Gundlach, CEO of DoubleLine Capital, told…
More than half of Canadians don’t have up-to-date wills and almost two-thirds haven’t prepared powers of attorney, according to a LAWPRO survey. But most Canadians acknowledge they should have these important documents. A will is a key component of all estate plans. Dying “intestate” (without…
Half of Canadians are concerned that their deaths will put their family’s financial stability in jeopardy, finds a BMO survey. Of those surveyed, 26% feel very concerned. Fewer than half (43%) say they own or will purchase life insurance in the next 12 months. And,…
Why do wealthy individuals, those who have no need for more insurance, sign up for the largest whole life policies issued in Canada? Did they meet a high pressure insurance salesperson who convinced them to buy something they don’t need? Are they unsophisticated investors who…
Most people know what insurance is, but few people have ever been told what it can do. The combination of turbulent financial markets and record low interest rates have challenged investors for several years. Conventional guaranteed financial instruments like bonds and GICs, long considered safe…
When you buy a bond, you lend money and in return get a stream of interest payments, plus your money back at some future date. Student dorms are a good proxy for them. Along with the buildings, the rent is yours. Residences are always full,…
Let’s all be very honest with ourselves, we all want to be rich. We want to enjoy the fruits of our labour and live a life that is more fortunate and ultimately extravagant than the average man. We dream of having the planes, fast cars, nice…
THE HIGH NET WORTH CLIENT’S FINANCIAL FUTURE Clients are constantly searching for new strategies to maximize their financial position, be it through investments, insurance or savings plans. For the high net worth client, in particular, one financial expenditure is inevitable: tax. Unfortunately, as our wealth…