As an independent, forward looking fee only | advice only financial planner we can help with our many years' business owner experience and CFP certification.
You want a financial planner who has actually lived all of the following issues, run a medium sized business and is not going to talk to you theoretically. Someone that does their own DIY investing, does their own real estate investing, RESP, etc. Someone that understands what you are going through and can offer expert advice accordingly as a lifelong business owner.
We are based on the east side of Toronto and while most of our client interactions are via video call we do have an office for in person visits if preferred.
TOPICS TO DISCUSS
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Unsure how to structure your business? Remain a sole proprietorship or join a partnership?
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Have questions about business structure and tax rates?
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Asset Location - You are saving up cash and don't know where to allocate it (RRSP, corporate investing, pay down debt, etc.) You might already have a sizeable amount of money here or want your future cash flow professionally mapped out
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Investing - The end goal here is to define an overall investing strategy for the household. It starts with assessing your current investing setup and then reviewing the options available in the marketplace.
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Insurance - Are you better off with this in the corporation or personally? Do you have a permanent life insurance policy you want a second opinion on?
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Real Estate Investing - personally or in the corporation?
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Asset Allocation - is your net worth too heavy towards real estate or investments? Any concentration risks?
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All of the above is done with an eye towards taxation.
WHAT CAN YOU EXPECT FROM YOUR PLAN?
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Our financial planning knowledge and 24 years business experience covers the following areas that we normally review and assist a business owner with:
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Financial Management - How do I take money out of the business efficiently? Salary or dividends? Is income splitting possible?
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Investment Planning - We can tell you in plain language how your investments are doing and the fees you are paying. We can also advise on asset allocation and go through the various different ways of investing and assist you with a professional investment manager search if required.
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Retirement Planning - Are you planning to use your corporation as a retirement vehicle? With our advanced financial planning software we can determine the most tax efficient way to draw your money out for your retirement years.
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Tax Planning - We understand the big picture and how your corporation / partner / kids, etc. can fit into it with tax efficiency in mind.
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Estate Planning - Have you thought about how you want your assets / business to pass on to the next generation? Have you considered the potential tax liability?
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Risk Management - We complete a thorough needs based risk assessment by assessing your needs for life insurance / critical illness and disability insurance. This is then integrated with your family situation / plan.
scenario analysis
We can determine this with our Scenario Analysis - this is the process of projecting your life and goals into the future with our advanced financial planning software and turning them into dollars and cents. We can offer 2-3 different scenarios to suit your situation / life preferences. This can take into account business expansion / sale, money to the kids, house renovations, etc. The end goal is to define spending guide rails for the client over time.
About
WHY US?
As a successful former medium-sized manufacturing company business owner, Chris Merrick, is ideally situated to offer financial advice to business owners. You want someone who has been at the office, late at night, struggling to decide what to do. Someone who also knows what it's like to wake up in the night multiple times and think about how to move forward.
No matter what line of business you're in, financial affairs are always a part of this and we can bring a real-world perspective and experience to it for you.
We typically deal with business owners of companies that do up to CAD $10M / year of sales.
ONGOING SUPPORT
This is an optional service designed for clients who want continuous access to expert guidance as their financial lives evolve. Rather than being a one-time project, this partnership ensures your financial plan remains a "living document" that adapts to changes in tax laws, market shifts, or personal life events.
By enrolling in this service, you ensure your strategy never becomes outdated. We handle the heavy lifting of tracking your milestones and providing proactive updates, so you can focus on enjoying your retirement or running your business without the stress of "second-guessing" your financial decisions.
$175 per Month
Services included in Ongoing Support:
6-Month Check-in Video Call
Dedicated mid-year session to review progress, adjust for any life changes, and ensure you are on track with your primary goals.
1-Year Financial Plan Update
A comprehensive annual refresh of your written plan, including updated projections and adjusted tax-efficient withdrawal strategies based on the current year’s data.
Ongoing Email Support
Assistance in coordinating with your existing team of accountants or lawyers to ensure a cohesive implementation of your plan.