OUR SPECIALITY

FINANCIAL PLANNING FOR PERSONAL AND INCORPORATED BUSINESS

  • Why do you need a Financial Plan?
  • – Worry less about money and gain control.

    – Organize your finances.

    – Prioritize your goals.

    – Focus on the big picture.

    – Save money to reach your goals.

    For an incorporated professional, personal and practice finances are connected. Therefore both sides should be addressed: personal and your practice.

  • What does a Financial Plan for an Incorporated Professional include?
  • There are 2 main sides your practice’s financial plan should address: Growth and Preservation

     

    Growth:

    – Cash Management- Managing Cash & Debt

    – Tax Planning- Finding tax efficiencies

    – Health Benefits

     

    Preservation:

    – Investment- either back into the business or outside of the business

    – Insurance Planning/Risk Management

    – Retirement Planning

  • A few things to keep in mind for professionals are:
  • – Professionals are typically in the highest income tax bracket, therefore incorporating their practice can help manage and defer taxes at a lower corporate tax rate.

    – By incorporating- professionals can have access to dividends from their corporation, shareholder loans, corporately held life insurance and since money can be left inside a corporation- this money can be used in years where there are life changes such as pregnancy, buying a home or retirement.

    – Professionals should also ensure that they have access to health benefits.

    – Debt for a professional is not unusual, given the costs of education and equipment, therefore working with an advisor and accountant can help an incorporated professional find a way to balance their cash flow.

  • What does a Personal Financial Plan include?
  • There are 2 main sides your financial plan should address: Accumulation and Protection

     

    Accumulation:

    – Cash Management – Savings and Debt

    – Tax Planning

    – Investments

     

    Protection:

    – Insurance Planning

    – Health Insurance

    – Estate Planning

  • What’s the Financial Planning Process?
  • – Establish and define the financial planner-client relationship.

    – Gather information about current financial situation and goals including lifestyle goals.

    – Analyze and evaluate current financial status.

    – Develop and present strategies and solutions to achieve goals.

    – Implement recommendations.

    – Monitor and review recommendations. Adjust if necessary.

FINANCIAL CONSULTINg

Fully dedicated to finding the best solutions

Our clients’ needs are constantly changing, so we continually seek new and better ways to serve them. 

charter wealth management

Creating Security, One Life at a Time

CLIENTS TESTIMONIALS

Get in touch with us and we’ll help you get started

Trusted Advisors

MCB
“We have trusted our corporate and personal financial plan to Scott and Gord for many years.  They take the time to understand our current needs, and to consistently re-evaluate our future financial  plan as our lives and business change.  They are professional, knowledgeable, resourceful, and compassionate.  We’re very grateful to have them looking out for our future plans!”  

Education

ML
I’ll start off with Gord Malic is the best insurance advisor in the industry! I have known Gord for many years now, professionally and personally. Believe me when I tell you that if you are in the search for a person that will do what it takes day and night to give you the absolute best of himself and the financial services / insurance services,  Gord is the man. I have never witnessed or known someone to put in the hours that Gord does in the office. For Gord his career seems to be a more of a hobby rather than work, this kind of dedication is why he is just so knowledgeable and advanced in his area of expertise.  Every time I had concerns or questions Gord was able to really explain and get back to me in a respectable time frame. Over the course of many years that I’ve been privileged to know Gord he has become someone that I truly look up too, for myself being a man in his mid 20’s I’ve had lots to learn from Gord. We all have lots to learn from Gord.

Best Advice

HK and KK
We appreciate the work that Scott has done on our retirement file.  He has gone to work for us to get the best portfolio possible.  

Professional and Caring

ZP
Very professional and caring company. They sat with me many times to help me direct my finances in the best way FOR ME. I recommend this business to my friends and my workers within my own business.