Services

You and your family (partner, spouse) work hard to accumulate assets over a lifetime. The hope is that, when the time comes for you to leverage those assets, they’ll be there for you to benefit from. Asset Management service is all about helping you manage YOUR financial assets using a prudent and conscientious approach.

WHY ASSET MANAGEMENT IS IMPORTANT

Individuals and families depend on the assets they accumulate over the years, being able to sustain them later in life – in retirement or in the event of an unforeseen need. However, not everyone has the time to monitor and manage those assets. And even if you have the time, you might not have the skills and patience to do so. In not managing your assets diligently over your accumulation phase, you could leave them exposed to erosion, destruction or depletion. The result: You might not have those assets (or a significant portion of them) in times of need.

WHAT WE CAN DO FOR YOU

• Determining your objectives: Not everyone has the same, or similar, financial objectives as they embark upon accumulating their wealth. To manage your assets prudently, we first need to understand what your goals are for initially accumulating and subsequently using those assets

• Help you choose your optimal asset mix: There are hundreds of asset-types that you can invest in, and as many ways to do so! Depending on your goals for asset use, we’ll help you choose the right asset mix that will most efficiently/effectively accomplish those goals

• Help you create a strategic asset allocation plan (SAAP) and tactical asset allocation plan (TAAP): Successful investing is all about successful planning. We’ll help create both long-term (strategic) and short-term (tactical) asset allocation and management plans in line with the recommended asset mix 

• Building your portfolio: Today, thanks to DIY-investing, anyone can create a discount brokerage account and start buying assets and including them in a portfolio. However, that’s not the most efficient or effective way to create long-term wealth. Using the allocation mix agreed upon, we’ll build a results-focused portfolio of individual investments (Stocks, Bonds, Mutual Funds, ETFs, Alternate investments) that will help get you to your financial objectives

• Managing and monitoring the portfolio: Unless you have the time and patience to dedicate to portfolio management, it can’t be done effectively. We know you have other things to do – such as living your life, so we’ll watch over the portfolio for you, making sure it rarely strays from delivering the objectives you desire 

• Measuring performance: We track the performance of your assets under our care, and consistently measure how they are performing against industry-recognized benchmarks 

• Managing risk: Our Asset Management strategy includes appropriate risk mitigation as part of this service. Where there are new risks to the portfolio, we’ll consult with you and propose timely and appropriate actions to manage and mitigate them

• Reviewing, reporting, recommending changes and revisions to the strategy: Our Asset Management service is based on constant and open communication and collaboration with our clients. Through regularly scheduled reporting and conversations, we ensure that your asset management plans are continually reviewed, revised, and updated to meet your changing circumstances

INTRODUCTION 

It’s said that only two things are certain in life: Death…and Taxes! And while there’s not much you can do to avoid the former, with prudent planning and foresight, there’s a lot you can do to minimize the latter. However, similar to planning that goes into living a happy and fruitful life, a well-planned tax strategy can yield great benefits – but only if it’s done professionally, and earlier on during your wealth accumulation cycle.  

Our Tax Planning philosophy is not centered around tax avoidance, but rather on helping you structure your finances, so you and your family aren’t overburdened by undue tax liability.  

WHY TAX PLANNING IS IMPORTANT

Consider this fact: If you managed to shave off just $250 from your tax bill each year, through prudent Tax Planning, and invested it at a 5% rate of return annually, you could potentially have a tidy sum of over $15,250 waiting for you by the time you retire in 30 years!

Delayed tax planning is tantamount to leaving potentially savable dollars, of your hard-earned money, on the tax table for others to benefit from. The longer you defer tax planning, the more money you’ll end up owing and paying in taxes. That money could potentially have been saved, through a reduced tax bill, invested, and grown, through the magic of compounding, over many years.

WHAT WE CAN DO FOR YOU

We help our clients through long-term Tax Planning strategies – and that’s exactly how we’ll help you. Tax planning does not commence on the date of filing your tax returns. Prudent tax planning often starts long before – sometimes even before you make investment decisions that trigger a tax liability. We can help devise tax planning strategies that may minimize taxes, may maximize tax refunds and guide you to optimize your tax-friendly investment returns.

Here’s what we can do for you through our Tax Planning service: 

• While the best advice you can get is: Save. Save. Save…as much as you can. The next best advice is: Be careful how you invest those savings. Our Tax Planning advice will include considerations on whether you should invest with pre-tax dollars, or post-tax income. How you invest, and in what types of vehicles, can make a significant difference to the taxes you pay. Our Tax specialists can help you navigate through the various advantages and disadvantages of choosing one strategy over another

• When planning for tax impact on your income, we’ll also plan for the types of income that you might receive: Dividends, Interest, Annuity payments, Capital Gains, Inheritances, Employer or Government benefits. While all of these are potential income streams in retirement and before, each has different tax planning implications  

• Our tax specialists will help you foresee impacts to your future net wealth. If left unplanned, your net wealth could be diminished due to likely claw-backs to benefits, and the possibility of erosion to your estate through substantial taxes

• We’ll help you mitigate possible tax impacts when it comes to your estate. A good tax plan will ensure that future generations do not bear the burden of taxes due to the legacy you leave them. But to ensure a tax-advantage inheritance to your beneficiaries, you need to put appropriate plans in place NOW – and that’s where our Tax Planning specialists can help

Everything you do – from planning the education and designations you'd like to acquire, to starting a career and managing your career progression – is done in the hopes that you and your loved ones can have a better life. But in all your planning, have you remembered to plan for life after work?

If you fail to plan for life after work, all the effort you’ve put into your working life may be jeopardized, and you may be left with more questions than answers. And an ill-prepared retirement is bound to be one filled with financial stress and chaos, instead of life-enriching experiences and freedom.

How We Can Help

Retirement planning shouldn’t start at retirement; it should start well before. We take a long-term view of your financial wellbeing to help create a life after work that is as well-planned as your life while working.

• Understand your goals: Through an intensely personalized approach, we discover what your retirement goals are. Whether it’s travel, a new hobby, or spending more time with the people you love, we’ll help you strive for your ideal retirement.
   
• Analyze your current position: To plan a meaningful retirement, you need to know where you currently stand. We’ll help you build an in-depth financial inventory to use as part of our retirement planning process.
   
• Develop your plan: We’ll work with you to create a retirement plan that aims to address them. When we’re done, you’ll not only have a better understanding of your investments, and what you need to fund your retirement lifestyle, you’ll also be better equipped to handle any shortfalls.
   
• Implement your plan: As you move closer to retirement, we’ll work with you to ensure the plans are implemented in a phased and orderly manner. The goal of our retirement planning approach is to make your transition to retirement as seamless and stress-free as possible.
   
• Support you in pension and benefit decisions: We’ll be here if you need advice on Government or Employer pension and benefits: when to apply, how to apply, what to do with your funds, and much more.
   
• Partner with you in retirement and beyond: A long and fulfilling retirement takes multiple facets of your financial picture into consideration: health care, long-term care, insurance, legacy planning, and charitable giving. Our financial professionals will be here for you when you need advice in any of these areas.
   
• Provide ongoing reviews: We’ll continue to review your retirement plans, and consult with you about any changes or updates needed to address your evolving retirement lifestyle needs.
   

Ready to take the first step in creating your plan for life after work?

Contact Us

The creation of the Simplified Employee Pension (SEP) and the Savings Incentive Match Plan for Employees (SIMPLE) affords smaller businesses with a way to offer their employees a retirement plan. The SEP and SIMPLE were designed for businesses with less than 100 employees and are less costly to administer than a 401(k).  For the employees, they are both easy to understand and provide a convenient way to save for retirement.

As qualified retirement plans, SEPs and SIMPLEs enjoy the same tax treatment as other plans. Contributions by employees and employers are tax deductible or made on a pre-tax basis. The accumulation inside the accounts grows tax deferred. The many of the same restrictions apply as well.  Withdrawals made prior to age 59 ½ may be subject to a penalty.

As with all defined contribution plans, the future retirement benefit is uncertain as it depends on the amount of contributions, how long they accumulate, and the rate of return on the account over that period of time. At the time of distribution, withdrawals are taxed as ordinary income with no allowance for 10-year averaging as is available through a 401(k).

Simplified Employee Pension (SEP)

A SEP is easy to setup even easier to administer. Each employee established their own SEP-IRA to which the employer contributions are made.  Although the employer is not required to make a contribution each year, when one is made it must be contributed to all employees over the age of 21, part-time included, based on 25% of covered compensation.¹

The employees manage their own SEP-IRAs which can be invested in mutual funds, money market funds, or fixed investments.  The funds are always 100% vested so they can be accessed immediately by the employee (subject to an early withdrawal penalty).  Employees with SEP-IRAs can also invest in their own traditional or Roth IRA subject to some income limitations.

For employers, their only responsibility is to make the contribution by their tax filing deadline.  There is no administration of the accounts and there is no forfeiture provision to manage.

SIMPLE Plan

In a SIMPLE Plan, employees establish their own IRA to which they can electively make tax deductible contributions.  Employees who earn at least $5,000 during any two prior years as well as the current year are eligible to participate on a voluntary basis.   The maximum amount that can be contributed is $14,000 or 100% of their compensation whichever is less. ²

Employee funds are 100% vested, however, in addition to the normal early withdrawal penalty of 10%, if a withdrawal is made within the first two years of participation, the penalty is 25% unless any exceptions apply.

The employer must match the employee’s contributions up to 3% of their elective deferral, or 2% of all compensation for all employees whether they defer or not. ³

There is another version of a SIMPLE called the 401(k) version which is structured much like the IRA version. The advantage of the 401(k) version to the employer is that it can establish stricter requirements for plan eligibility which could reduce the amount of matching contributions. The disadvantage is that the same ERISA reporting rules apply to a SIMPLE 401(k) as they do the regular 401(k), so it can be more costly to administer.

For additional information on small business retirement plans, contact us today.

_{¹ Contributions are limited to 25% of an employee's compensation or $61,000 for 2022.
² $14,000 is the current maximum and the amount is indexed for inflation.
³ An employer may make less than the 3% contribution for two years out of five year period but it cannot be less than 1%.}

It’s been said that you reap what you sow. And when it comes to enjoying your investments, truer words have never been spoken. Even if you don’t have thousands of dollars to invest, simply taking the time to choose where to park your money can be rewarding.

Through developing a personalized investment strategy, diversification, and avoiding short-term distractions, we aim to help create and preserve your wealth so you reach your financial goals.

Our Investment Planning Process

• Create a point-in-time snapshot: We analyze where you are in terms of your current portfolio. In some cases, we can provide immediately actionable steps that benefit you; like leveraging tax-selling or profit-harvesting opportunities.
   
• Develop an investment strategy: From your snapshot, we’ll draw-up personalized investment strategies that will help you reach your financial objectives. This may be accomplished by building upon your existing portfolio or proposing a set of tax-efficient investments that are aligned with your personal financial goals.
   
• Implement your plan: Our dynamic approach to investment planning evolves with your changing circumstances. We’ll guide and advise you on investment plan transitions as you go through life and lifestyle changes.
   
• Consult, and counsel: Ours is an ongoing partnership. Throughout our relationship with you, we’ll review your investments, keep you informed, and communicate constantly with you about proposed changes and potential risks or opportunities for your investments.

Book a meeting with one of our professionals to learn more about our investment planning strategies.

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^{Asset allocation and diversification do not ensure a profit or protect against loss in declining markets.}