What will help support your lifestyle once your business is sold? What will occupy your time after you transition out? What other financial structures and income sources are you using to diversify your wealth? What strategies are you using to extract capital from the business tax-efficiently?
When your business is your focus, it takes a team to help ensure that what comes after is a successful retirement and a lasting legacy. Through an insightful discovery process, written comprehensive plans and a variety of TD specialists, we help business owners set up their personal and family wealth for the long term.
*As of August 24, 2017. Unique experiences and past performances do not guarantee future results. Testimonials contained herein are unsolicited and may not be representative of the views of others. They have been reviewed and approved in writing for public use.
Protection is the first priority, and when it’s done well it can allow you to confidently work toward realistic goals for growth, income, and tax efficiency.For owners, we work to help protect your assets from unnecessary risks, to mitigate the tax to which your income is exposed, and to prevent liabilities that can arise with respect to your business, your estate or your retirement. This may include:
• Exploring tax-saving opportunities like an estate freeze or family trust
• Using insurance strategy to prepare for the unexpected while capturing opportunity for capital growth
• Ensuring personal and corporate wills are aligned, and building a thorough estate plan
• Ongoing risk management within your investment portfolio, and providing a weekly market commentary to help you stay informed of relevant market news
*As of September 5, 2017. Unique experiences and past performances do not guarantee future results. Testimonials contained herein are unsolicited and may not be representative of the views of others. They have been reviewed and approved in writing for public use.
You work hard to grow your business, but growing your personal wealth is a different challenge with its own strategies, structures and steps – and the reality is that many business owners do not have a concrete plan for their own transition out of the business and into retirement.Our focus is helping you meet your goals for the business, while meeting your goals for your retirement. This often involves:
• Growing your retirement savings on a tax-deferred basis through Individual Pension Plans (IPPs) and Retirement Compensation Arrangements (RCAs)
• Establishing a holding company to help flow capital through the business efficiently
• Developing family business succession strategies
• Through TD specialists, incorporating insurance to help fund your retirement and transition family wealth
• Working with TD specialists to build a succession strategy, create a shareholder’s agreement, conduct business valuations and complete related checkpoints in the transition process
*As of September 19, 2017. Unique experiences and past performances do not guarantee future results. Testimonials contained herein are unsolicited and may not be representative of the views of others. They have been reviewed and approved in writing for public use.
When you’re focused on the operations of the business, opportunities to help grow and protect your wealth often get missed. Through our work with business owners over the years, we’ve developed a process with multiple professionals and TD specialists, which means that while managing your wealth, we can help ensure that business valuations, tax-efficiency tactics, retirement savings strategies and other tasks are implemented in a timely manner. This often involves:
• Bringing the strategies of your accountant, lawyer and other professionals into alignment with your goals
• Coordinating with TD specialists in areas such as business succession, insurance, high-net-worth planning, tax strategy and estate transition
• Creating an annual tax package for you and your accountant, to make tax filing more efficient
By building a roadmap that incorporates both short-term necessities and long-term priorities, we can implement an action plan that help you make efficient progress toward set objectives. This starts with asking the right questions and at the right time.Step 1: Gaining Perspective
• Imagine you sell your business tomorrow – what is occupying your time?
• How do you plan to exit your business? Have you considered a Management Buyout (MBO) or a Leveraged Management Buyout (LMBO)?
• What do you hope to leave for the next generation?Step 2: The Stress Test
• Are you paying too much tax?
• Are your assets protected in the event of a change in circumstances?
• Are your personal and corporate wills aligned?Step 3: Client Vision Document
• Can we determine the priorities and preferences that can guide decision-making?
• What will we need to revisit periodically?
• What is the level, type and frequency of communication that will suit you best?Step 4: Two-Year Roadmap
• What are the most pressing items and opportunities?
• What needs to be acted on now and by whom?
• What steps can be make over the next two years to bring us closer to long-term objectives?Step 5: Meetings and Reviews
• Are your current wealth strategies still in line with your vision?
• What has changed since we last met?
• Do any decisions need to be shared with other professionals, family members or stakeholders in your business?
Get in touch with us to get your copy of the five strategies we’ve seen to be most effective for business owners.(416) 982-5191
Cooper Strategic Wealth Advisory is a part of TD Wealth Private Investment Advice, a division of TD Waterhouse Canada Inc. which is a subsidiary of The Toronto-Dominion Bank.