Advisors See Opportunity with High-Net-Worth Clients Looking to Protect their Wealth

It’s tricky to find silver linings in 2023, as the cost of everything is rising, with the Consumer Price Index (CPI) sitting at 6.3%. Food, fuel and general goods are increasing in price, and unfortunately so is the cost of running a business.

However, some businesses are finding that they are thriving in the current environment. For example, some advisors are finding that their businesses are still growing, thanks in large part to high-net-worth clients seeking better service.

High-net-worth clients are interested in knowing how to inflation-proof and recession-proof their wealth. To accomplish the former, advisors must have broader knowledge in tax and investment planning in order to maximize after-tax income and reduce capital erosion when clients pulled out of the markets for a variety of reasons. 

Should a recession occur, however, the preservation of capital, in particular for key life events – retirement and death of a taxpayer – must now be anticipated even earlier in the planning cycle, to maximize the sustainability of wealth against inflation erosion immediately, and tax erosion on deemed or actual disposition.  

That means the mix of investments in the portfolio may need to change and that the tax implications of each investment selected will need to be considered. This course will cover common tax tactics to be used to prepare for an uncertain future, with the Real Wealth Management framework as a backdrop to providing a consistent and repeatable approach to client conversations.

How can you help your clients protect their wealth during in a challenging economic environment?  How do you shore up your knowledge quickly to answer on-the-spot queries? Or do you have prospects who would benefit from taking this course as a gift from you? Check out Knowledge Bureau’s new accredited CE Savvy PD™ line up of micro-courses. 

Today’s preview: Tax-Efficient Investing: Planning for Income and Capital

Why You Should Take This CE Savvy PD™ Course: This course is directed at the advisor who wants to become an invaluable coach to high-net-worth clients at a time of great change in economic events as well as the client’s life events.  It positions a broader knowledge in taxation as a key advantage because tax has a significant impact on the sustainability and purchasing power of both income and capital. 

What You Will Learn in this CE Savvy PD™ Course: In this course, fundamental principles in building more income, after tax, will be considered as a foundation in building and preserving capital accumulations for higher net worth individuals, against the backdrop of new economic triggers: higher taxes, inflation and fees, particularly interest rates. 

Topics Covered:

Introduction

• New Outlooks: Managing wealth with inflationary and recessionary headwinds
• What is the Purpose of the Money – Rethinking Priorities 
• The Taxing Realities: Marginal and Effective Tax Rates on Income and Capital 
• Time Value of Tax Efficient Income
• The Taxes – What Matters is What You Keep

Re-Purposing:  Introducing Tax in a Customized Experience 

• A Deeper Discovery Process:  What decisions need to be made to rebalance priorities?
• Revisiting Target Net Worth:  Capital requirements to fund income requirements
• The Tax Tactics:  What is the purpose of the money; in the short, medium and the long term?
• Re-Balancing: The Investment Solutions:  What are the key tax obstacles to success in growing income and capital value over time?  What tax efficient investments will help?

Adding Tax to the Value of Advice

• Quantifying the Value
• Focusing on the Future Value
• Zeroing in on Specific Taxpayer Profiles

Included with the course:

• Knowledge Bureau continuing education accreditation
• Certificate of completion that can be shared on your LinkedIn profile to promote your expertise

Only $69 and an hour of your time can act as a catalyst to grow your business and expand your knowledge base.

ENROL NOW!

Want to double the value of your time?  Sign up for the 5 micro-course Tax Planning Learning Path Collection for only $295 and earn valuable Continuing Education credits.  You will gain access to these additional great tax planning focused one hour modules:

1. Spousal Trusts
2. Insurance and RRSP Trusts
3. Life Insurance and Estate Liquidity
4. Private Corporations: Passive Investment Rules
5. Planning for Income and Capital

Or save time and money by signing up for an annual subscription and gain on-demand access to the comprehensive CE Savvy PD™ professional library of over 40 courses for the low annual fee of $995.  Taxes extra.  Qualify for a tuition fee credit when you spend more than $100.   

GET UNLIMITED ACCESS TO CE Savvy PD™ NOW!

Here is what one of your peers had to say about this program:

“I love the Knowledge Bureau CE Savvy Modules! It will now be our firm’s first place to enrich our knowledge and skills while earning our required CE credits to maintain our registrations. Personally, it is easy to login, find the topics of interest, easy to navigate through the courses, and the special effects (pictures, diagrams, animations) make you want to stay on-line and complete otherwise boring topics …. Because Knowledge Bureau makes it fresh and exciting! Thank you for this invaluable tool!”

D. Tony Mahibir, CEO, CANFIN

MBA, CMC, RWMTM, CIM, RRC, CFP, FP Canada Fellow

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