Financial Planning
AttisCorp Financial Group assists clients in developing and implementing financial plans to guide them and keep them on track to meet their financial objectives. We recognize that each client has their own unique set of circumstances, goals and objectives. These distinctive factors inspire the personalized financial plan we create for you.
At AttisCorp, we believe that financial planning is not just about how much you make, but how much you keep. One of the first things we look at is the tax-efficiency or lack of tax-efficiency in how a client has their financial affairs organized. Then, we recommend tax-smart investment strategies to minimize tax and maximize returns.
We also look at what unforeseen risks our clients may face. Business owners and professionals sometimes fail to realize that assets owned by their businesses are always at risk, be it from creditor claims (including banks), claims by Canada Revenue Agency, or 3rd party claims (product liability, negligence, contractual disputes, etc.) A business could be forced to sell assets to satisfy successful claims brought against it. Our objective is to show our clients how they can safeguard their most valuable business and personal assets from many of these risks. We also work with business owners to develop continuation and succession strategies for the ultimate sale or transfer of their business as they move towards retirement.
Finally, we carefully assess risk management strategies (life, disability, health, critical illness and long term care insurance) - towards ensuring our clients are properly protected in the event they hit a bump on the road. “We like to build a moat around our clients”, says Joel Attis, “because like it or not, we are all faced with the risk of a premature death or an unexpected disability through accident or illness. As bad as that may be, there is no need to exacerbate the problem by making it a financial as well as an emotional nightmare for ourselves and/or for our families”.
The plan we create may, subject to your particular circumstances, include elements from various planning areas, such as:
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Investment Planning
How your investments are structured will, in part, determine your tax commitments, your risk exposure and the potential return on your investments. Your portfolio will be assessed, and recommendations will be made - on the basis of, amongst other things, your financial objectives and risk tolerance. Asset allocation will be discussed, and we will suggest optional investments to you, as appropriate for your particular situation and preferences.
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Retirement Income Planning
Personal retirement savings, employer pension plans, non-registered investments, CPP and OAS generally form the basis for most retirement income plans. All of these areas will be addressed, and recommendations will be made based on your retirement goals, your current (and likely future) tax status, your family situation and your risk tolerance. We will consider the integration of government-sponsored income plans with your personal portfolio in order to structure your retirement income in the most efficient manner possible.
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Risk Management/Insurance
For many people, protecting their family and assets is of utmost importance. Your advisor will analyze your protection needs, assess any existing programs you may have, and advise you of areas requiring attention. These areas may include life insurance, key person insurance (should you be a business owner), disability insurance, critical illness insurance, long-term care coverage and extended health insurance. Furthermore, we will explain and discuss "product allocation" in addition to asset allocation - towards minimizing retirement risk such as longevity risk and the 'retirement risk zone', being the 5 year period immediatley preceding and following retirement.
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Estate Planning
Ensuring the orderly transfer of a client’s estate to his or her beneficiaries typically forms a substantial part of that client’s financial plan. We work with trust structures, assorted estate-planning tools & strategies, along with relevant tax laws governing the transfer of investment and business assets at death, and can advise you as to the most favourable manner in which to structure your current holdings towards minimizing tax, and maximizing your estate values for your loved ones. In this regard, and as circumstances warrant, we recommend that a tax accountant be engaged by our clients to assist with tax and estate planning issues. You will also be advised on wills and powers of attorney - and as required, we will refer you to a lawyer for more detailed estate planning.
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Business Continuation & Succession Planning
Most business owners want to know that, in the event of their death or disability, their business will either (a) continue to operate smoothly under new management/ownership; or (b) will cease operations and an orderly transfer of assets to beneficiaries will occur. Careful tax and investment planning will assist you in meeting your personal objectives for the future of your business.
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We at AttisCorp Financial are committed to looking at your big picture. Although certain areas mentioned above may not comprise part of your personal financial plan, each area will be discussed to ensure all bases are covered.
Should you have any questions about any of the above, please contact us via telephone or email at our contact coordinates. Or you may direct your inquiry to our general mailbox.
