Risk Management Planning

Similar to how an unexpected health event can derail our personal finances, a death, disability or critical illness can also impact a businesses financial stability. Life insurance, critical illness insurance and disability insurance can all help to provide financial security in the event an unexpected health event were to occur.

What happens if you or your business partner pass away, become critically ill or disabled? Would this event trigger a buy/sell agreement? How would you or your partner buy out the others shares?

Do you have a key employee that is critical to the businesses success? If they were to pass away, become critically ill or disabled, would this impact your businesses revenue?

These are examples of risk considerations a business owner should think of when evaluating business stability. We are happy to assist in guiding you on prevention measures you can take to transfer risk. 

Private Health Services Planning (Benefits)

Are you looking to enhance your compensation offering for your employees? A comprehensive employee benefits plan can help you recruit and retain the employees you want working for your business. A healthcare spending account is an alternative solution that can provide flexibility for your employees to use towards eligible medical expenses. A private health services plan is a great way for an employer to show that they care about their employees health and well-being. We work with our business owner clients to determine the most appropriate solutions for their business.

Group Retirement Savings Planning

An employer matching group RRSP can be a great way to encourage employees to save for their future. It can also be a useful tool to help an employer separate themselves in the marketplace in terms of their compensation offering. Compliment your group RRSP offering with a group TFSA for your employees to give them access to additional savings through their employer. 

Business Succession and Corporate Asset Planning

Succession planning and corporate asset planning can be forgotten until it's either too late or some planning tools are no longer an option. It is important for business owners to consider what will happen to their business and it's assets either when they retire or when they pass away. We work with our business owner clients to ensure there is a plan for the wealth they have built within their company.

Business Investment Planning

Some business owners build up assets in their business for a variety of reasons. A few examples could be wanting to build capital in the business for future growth opportunities, providing a nest egg to protect against fluctuating revenues or simply not wanting to take more money from the business because of personal income tax considerations. We work with our business owners to determine if investing those assets is appropriate and if so, review investment options to consider. Understanding the legal and tax implications is important in deciding whether or not to investment money held by your company. Therefore, we will work with your lawyer and accountant to ensure the investment plan makes sense for your business.