A Challenge for New Clients: How to Choose a Trusted Advisor

If you’re in business for yourself, you have a unique opportunity to build wealth in an asset class that others don’t have: equity in a business enterprise that some day may be sold for millions of dollars. In addition, that business can spin off income for family members that can provide significant tax advantages, done well. Understanding how to realize on this asset requires the help of a trusted financial advisory team. Who should be on that team and how do you find them? This is a challenge your next new business clients may wrestle with. Here are some tips on how you can open discussions to help them:

According to numbers from 2013 reported by Statistics Canada, 82% of Canadians made a financial contribution to a charitable or non-profit organization, down by 2% from 2010. However, although fewer Canadians donated, those who did donated more—14% more in fact, for a total of $12.8 billion.

Over 500 respondents weighed in to Knowledge Bureau Report’s March poll with a definitive message to the federal government: 95% said it was a bad idea to cancel the education and textbook credits in the 2017 tax year. The commentary was voluminous and frank:

In this new feature, Knowledge Bureau President, Evelyn Jacks, brings perspective to Real Wealth Management.

The Federal Budget has put an emphasis on positioning Canada for success in the innovation economy of tomorrow. With so many businesses poised to change hands soon, advisors must be thinking about preparing the next generation of leaders for the new economy, despite disruptive trends and significant tax changes. The continuity, and even survival, of these companies could depend on your help.

Are you a distinguished advisor in your industry? If so, be sure to enter two prestigious awards to be announced at the DAC in beautiful Kelowna, Nov. 5-8 this year.

It’s time once again for our skill-testing financial trivia contest. This is your chance to win a free registration to DAC, November 5-8 in spectacular Kelowna, BC, where this year’s theme will be CANADA 150: Financial Advice at the Crossroads of Change.  Here’s April’s question: