Starting the succession planning conversation is a great opportunity for advisors to get to know the next generation
Business-owner clients rarely regard the value of their companies as part of their investment portfolios. They (wrongly) differentiate between investment in a privately owned company and investment in a publicly traded stock
To help entrepreneurial clients shield their wealth, urge them to keep their personal and business finances separate
Tom Deans, author of "Every Family's Business," discusses the grim facts that only one third of family businesses will transition to the second generation and only ten percent to the third generation, data that impacts retiring boomers. Deans suggests advisors should start a conversation with clients about the future of their businesses and how to protect their wealth. Deans spoke at the RCC in Toronto.
Author John Leonetti emphasizes the business-owner client's readiness to retire, both mentally and financially, rather than focusing entirely on financial issues
A new program at UBC's Sauder School trains advisors in the tough business of advising family firms
Business owners do a better job of retirement planning and start investing at an earlier age
Become an expert in the needs of entrepreneurs and your client’s industry
Help clients get the ball rolling early; don’t focus too much on the numbers
John Horwood, director, wealth management at Richardson GMP Ltd. in Toronto, discusses tax efficient strategies for successful entrepreneurs and how strategic philanthropy can leverage tax rules to acheive remarkable charitable results. He spoke with Dan Richards of clientinsights.ca at the TMX Broadcast Centre.