Have you had a comprehensive financial plan prepared or updated within the past five years? Do you know your current asset allocation and your risk tolerance? Do you know the rate of return you’re earning on assets after fees? Do you know how much capital you will require to meet your retirement goals? Have you reviewed the tax efficiency of your compensation structure? Are you income-splitting as effectively as you can to reduce taxes? Have you calculated the additional tax credits with an IPP vs an RRSP? Are you spending too much time and money on the preparation of investment tax returns? Creating and maintaining a sound financial…

Are your investments generating enough income and cash flow? Is your investment portfolio protected from volatility through non-correlated investments such as real estate or private equity? Is your insurance positioned as an asset class and integrated with your investment strategy? Have you reviewed loans and mortgages to reduce interest costs and determine whether any may be tax deductible? Is your income protected in case injury affects you during your earning years? Have you considered the potential costs of future health care? Is your plan being regularly reviewed and adjusted to ensure you’re on track? It is important that your wealth not only continues to grow, but is…

Do you have a succession plan in place? Are your beneficiaries prepared to manage this wealth? How will you minimize the financial impact of your passing? Are you set up to eliminate tax liability upon death? Have you considered how you will create your legacy? Have you decided how philanthropic initiatives will continue? Currently, are you able to make your charitable gifts in kind? Are you planning to continue donating in retirement? Creating a financial plan is your first priority; however, ensuring that plan works beyond your lifetime is just as significant. You have worked hard to build your wealth and you will want to implement estate planning…