Brad St. Cyr

Investment Advisor and Financial Planner

Tel: 403-592-2069

Address

BMO Nesbitt Burns
4954 Richard Rd. SW
Suite 100
Calgary, AB
T3E 6L1
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Resources

Tax Planning

Claiming Home Office Expenses on Your Personal Income Tax Return

This publication briefly outlines the two methods for employees claiming 2020 home office expenses.

Strategies to Minimize Capital Gains Tax

Towards the end of the year, many investors review their investment portfolios to determine the anticipated tax impact of any capital gains and losses realized during the year. For investors who have realized significant capital gains, this article examines various strategies to help reduce the impact of a potential tax liability of these gains, regardless of whether they were the result of a voluntary or involuntary sale.

Retirement Planning

Understanding the Basic RRSP Rules

Investing in a Registered Retirement Savings Plan (“RRSP”) is one of the soundest ways to ensure you enjoy a financially secure retirement. In order to maximize the benefits of an RRSP, it’s important to have a basic understanding of the rules that govern them.

Retirement planning: CPP/QPP, RRIF and OAS considerations

When the time for retirement arrives, payments from the Canada Pension Plan or Quebec Pension Plan (CPP/QPP), Registered Retirement Income Fund (RRIF), and Old Age Security (OAS) are the main sources of retirement income for many Canadians. It is important to consider these income streams and discuss the planning opportunities with your financial professional as you approach your retirement years. This publication provides an overview of these programs and some factors affecting the decision-making process.

Checklist - More than 10 years to retirement

Prepare now to retire well later.

Checklist - Between 2 and 10 years to retirement

A clear path to retirement requires a clear plan. If retirement is now on the horizon and no longer a distant goal, you’ll want to make sure preparing for it is a priority. Using this time to continue to save and build your assets, while paying off outstanding debt can really make a difference. This is also the perfect time to put some serious thought into what your retirement will look like. This checklist will help you do just that.

Checklist - Less than 2 years to retirement

Transition into retirement with confidence. As you transition into retirement, keep in mind your income could come from multiple sources at different times of the month. You’ll need to know where that income will come from, how much you’ll receive, and when you’ll receive it. Before you retire, you’ll need to complete a variety of employer and government forms. This checklist will help you move into your retirement seamlessly.

Checklist - Living in retirement

Make the most of your retirement. Each person has a unique vision for how they will spend their retirement. Whatever your plans, make sure you make the most of your retirement by staying physically and mentally active, and ensuring your money lasts as long as you need it too.

RRIFs - Tips and considerations

A RRIF is very much like an RRSP in reverse. An RRSP is an account designed to help you save for retirement – a RRIF is an account designed to provide annual income in the form of withdrawals from a registered plan during your retirement.

Registered Retirement Income Funds

Selecting the right retirement income option for your Registered Retirement Savings Plan (RRSP) is one of the most important financial and estate planning decisions you’ll make.

Strategies for Your Retirement Savings Plan

A formalized savings plan that uses a registered plan, such as a Registered Retirement Savings Plan (RRSP), Tax-Free Savings Account (TFSA) or a Registered Retirement Income Fund (RRIF), is one of the soundest ways to realize your retirement goals. Here are some strategies you can use to maximize the benefits of your RRSP, TFSA and RRIF.

RRSPs - Saving Tips and Strategies

A Registered Retirement Savings Plan (RRSP) remains the cornerstone of most retirement plans, particularly if you don’t have a company pension plan. An RRSP is a tax-deferred plan designed to help you save for retirement.

RRSP Withdrawals

There is often a temptation to withdraw funds from your Registered Retirement Savings Plan (RRSP) prior to your retirement. Careful consideration should be given to the financial impact of this decision.

Your RRSP Maturity Options

You’ve saved and invested wisely over the years in a Registered Retirement Savings Plan (RRSP). Now that you’re retiring, you’ll need to use your RRSP savings to supplement your pension and government benefits to create the retirement lifestyle you’ve been planning. The question now becomes, what RRSP maturity option is best for you?

LIF Minimum & Maximum Withdrawal Schedule

Each year the amount that you can withdraw from your Life Income Fund (LIF) will vary depending on your age, the value of your plan at the beginning of the calendar year, and the provincial or federal pension legislation governing your plan.

Residential care checklist

Arranging residential care for an aging friend or relative is often an uncertain process, especially when you are responsible for choosing a nursing home or retirement residence. The following questions may be useful to consider when visiting and evaluating a residence and can be used to assess and compare each option. Use a copy of this checklist at each of the residences you are visiting.

Common topics adult children may need to discuss with their aging parents

Consider the following suggestions on how to approach some common topics that you may need to discuss with your aging parents.

Tax-Free Savings Account (TFSA)

The Tax-Free Savings Account (TFSA) is a savings plan that allows Canadians to invest and earn tax-free returns. Any income (interest, dividends, and capital gains) earned is tax-free.

Philanthropy

BMO Charitable Giving Program

Philanthropy is an important financial planning consideration for many Canadians, and an integral part of their wealth management plan. A Charitable Gift Fund (“donor advised fund”), established through the BMO Charitable Giving Program, allows you to create a flexible and customized philanthropic solution that will have a lasting impact on causes that matter to you and your family.

Financial Planning

Financial Planning Year-End Checklist

As year-end quickly approaches, it’s important to be mindful of potential year-end investment and financial planning strategies and reminders that could help you reduce your 2020 tax bill and prepare you for a successful 2021.

Reaching Your Goals:An Investment Strategy for Every Life Stage

The down payment on a house, your child’s college education, or maybe even a vacation home? You will probably have different goals at different stages of your life. But no matter what else you’re saving for, you should make sure you’re putting enough money aside for one of the most important goals of all – your retirement.

Get on Track with a Spending Plan

Have you ever felt like you are walking on a treadmill with your personal finances – doing a lot of work but not getting anywhere?

Determining Your Net Worth

Tax-filing season provides a good opportunity to learn more about your current financial situation. While you have all your records on hand, you can review your finances and calculate your net worth.

Common Money Myths, and Six Steps to Better Finances

Don’t let common money myths stand in the way of pursuing your financial goals. Just because a belief is widespread doesn’t mean it’s true. Some of these money myths may be sidetracking your financial success.

Wealth Planning

You’ve got plans. Let’s make it an action plan.

Wealth Management for Physicians: Because Your Financial Health Matters

Our “One Wealth” team creates solutions that respect the nuances of your profession, and address the opportunities and potential challenges associated with your personal wealth. We can help you with complex banking and borrowing needs; investment management, wealth planning concerns, business succession strategies, and trust and estate services. In short, we can help provide you with the right solution, regardless of the complexity of your needs.

Education Planning

Education Planning For the Children in Your Life

Most parents hope their children will pursue higher education – and for good reason. A post-secondary education can prepare your child for a fulfilling career, lead to enhanced earnings potential and, ultimately, steer them on the path to a successful and rewarding life. However, if adequate savings are not in place for post-secondary education, your children could graduate with the added stress of carrying significant student debt before they’ve even secured their first job.

Registered Education Savings Plan

At BMO Nesbitt Burns we can help you determine the best way to finance your child’s education and work with you to develop a savings program that helps meet your educational savings goals.

Taking Money Out Of An RESP

This article provides information on how, and when, to withdraw funds from an RESP, as well as information on qualifying educational institutions and programs. In situations where the RESP beneficiary decides not to pursue post-secondary studies or leaves before completing a qualifying program, the subscriber of the plan must decide what to do with the money that has accumulated in the RESP.

Business Advisory & Succession Planning

As a business owner, what’s your succession and transition plan?

Retiring from your own business can be difficult after having invested the better part of your working years to achieve success. And, business owners who want to pass on that successful business may be faced with a bigger dilemma of if and how to transfer the wealth they have accumulated through their business. A number of critical factors need to be considered including how they will exit from their business, the valuation of the business, family considerations and expectations and their own retirement plans.

Five Best Practices for Business Owners During Uncertain Times

The BMO Business Advisory and Transition Planning team has outlined five best practices to help business owners focus and manage their business effectively.

5 Common Challenges for a Family Enterprise

Statistics show that family enterprise is the most common form of business ownership in the world. In Europe and Asia, some businesses have been family owned for 10+ generations, or several hundred years. In Canada, it is estimated that some 60% of the GDP is driven by family enterprises that employ more than 6 million people. Ironically research on family business has only gained significant traction over the past 50 years.

Banking Services for Small Business Owners

Owning and operating a small business has several benefits as well as unique challenges. Small business owners enjoy independence, flexibility, and tax advantages; however, they must also manage day-to-day operations, seek opportunities for growth, and stay on top of financial responsibilities. Suppliers, employees, and bills all need to be paid regularly and on time. Additionally, business owners must also ensure that their company has sufficient funds to cover unexpected expenses, such as equipment breakdown, or significantly larger or longer-term expenses, such as increased mortgage rates.

COVID-19 Update

Update on Canada’s COVID-19 Economic Response Plan

Summary of Federal Fiscal and Tax Measures to Support Canadians and Businesses

COVID-19 Podcast

February 02: In this episode, Sylvain Brisebois, National Sales Manager, BMO Private Wealth is joined by Larry Zelvin, Head, BMO Financial Crimes Unit, for an insightful discussion on the rise in cybersecurity threats and steps we can take to better protect ourselves in the digital world.

Netflix at Home or Theme Park Thrills?

July 9, 2020: The monthly Global Markets Commentary – Netflix at Home or Theme Park Thrills?, prepared by Lesley Marks, Chief Investment Officer, BMO Private Wealth, provides an overview of recent global events and their impact on the markets.

America’s Post-Pandemic Economic Prospects

June 29, 2020: After dealing with the steepest, deepest, and fastest recession in history, there are clear indications that the U.S. economy has begun the first stages of recovery. In this report, we delve deeper into the prospects for economic recovery in the months and years ahead, including what sectors will lead, and which will be constrained. While there are serious challenges ahead for the economy, there are also important reasons to remain positive on the medium-term outlook.

Beware of the Parallels Between Today and the Great Depression

May 4, 2020: There is an interesting paradox occurring today where the current economic and market environment is described as ‘unprecedented,’ yet there are consistent parallels drawn between the present circumstances and the Great Depression of the early twentieth century.

Post-Pandemic Economy: Building a Bridge

April 17th: While policymakers, markets, and businesses are all still dealing with the effect and extent of the deep economic downturn, attention is turning to what the economy will look like after the storm. Special report prepared by BMO Capital Markets Economic Research.

Perspectives on Investing & the Covid-19 Impact

April 6, 2020: The impact of the COVID-19 virus continues to change each week. Here are some current perspectives for investors during these uncertain times.

Other

Wealth Insights Magazine

The Wealth Insights Magazine highlights several topics, strategies, and solutions for the owner to consider when balancing personal wealth management with the needs of their business venture.

BMO Nesbitt Burns Gateway®

This article provides an overview of the information and tools available through Gateway. A key feature of Gateway is the ability to access your BMO Nesbitt Burns account statements and trade confirmations electronically by signing up for eDocuments.

Tax Planning Strategies

Completing Your 2020 Income Tax Return – Checklist

As the tax filing deadline approaches, here are some reminders to help ensure you’re prepared to file your personal income tax return, and that you maximize your tax savings.

Tax Slips Overview

In an effort to help simplify your tax preparation efforts, we are providing you with a brief overview of the various tax slips and supporting documents you may receive from BMO, and their expected mailing dates.

Personal Tax Calendar 2021

While most Canadians are aware of the April 30 personal income tax filing deadline, there are other important tax deadlines that must be observed over the course of the year – especially if you want to take advantage of certain tax deductions and credits. This calendar summarizes several important dates on the tax calendar and offers some tips to help you with your overall wealth planning. Where a deadline falls on a weekend or a holiday recognized by the Canada Revenue Agency (“CRA”), the deadline is generally extended to the next business day.

2020 Year-End Tax Planning Tips

Since many tax strategies require foresight to be effective, tax planning should be a year-round activity. However, as the year end approaches there are still opportunities to consider in order to reduce your 2020 tax bill.

BMO Charitable Giving Program

The BMO Charitable Giving Program, allows you to create a flexible and customized philanthropic solution that will have a lasting impact on causes that matter to you and your family.

The CRA’s Foreign Reporting Requirements

Since Canada represents only a small portion of the world’s capitalization, it may make sense to include some foreign investments in your portfolio. However, it is important to understand Canadian and other foreign tax implications of owning investments outside of Canada.

Managing Your Wealth

Wealth Planning Facts & Figures

This is a helpful resource summarizing important tax, retirement and estate planning information.

Financial Resolutions for 2021

As you consider your financial priorities for the coming year, here are some financial resolutions that could help you save taxes, protect your portfolio, and position you for financial success in 2021.

Having a TFSA works

Having a TFSA works. Get one working for you. Whether you’re saving for a new car, a home purchase, your child’s education or retirement, a TFSA can help you reach your financial goals sooner.

Wealth Planning for Uncertain Times

April 30, 2020: In times of uncertainty and market volatility, creating or updating your wealth plan will help to keep you focused on the long-term and can provide reassurance that your goals remain achievable.

Insurance Considerations

Insurance Considerations for Business Owners and Incorporated Professionals

BMO SmartFolio

BMO SmartFolio is an online portfolio management service for investors looking for a convenient, affordable and professional digital investment solution.

Estate & Succession Planning

Digital Assets and Your Estate Plan

This article discusses common digital asset considerations and important information for making sure they are properly addressed in your estate plan.

Why Pets Belong in Your Estate Planning

Pet owners generally view their pet as a faithful companion and a member of the family. But have you considered what will happen if your pet outlives you? Without proper planning, your pet may face an uncertain fate.

Preparing Your Last Will and Testament

The attached article – Preparing Your Last Will and Testament – explains various aspects of Will preparation including, the importance of appointing an appropriate executor, life events that warrant a Will review and the use of testamentary trusts.

Estate Information Organizer

This is designed to help your family, executor (referred to as a “liquidator” in Quebec), or Power of Attorney for Property (referred to as a “mandatory” in Quebec) locate all of your important documents and other information needed to administer your estate or act as your Power of Attorney for Property

Estate planning for complex family dynamics

Today, the modern family comes in many different shapes and sizes; this diversity is having an impact on family relationships and the way families interact when addressing estate planning.

Research

Rates Scenario

Fixed Income and Foreign Exchange Strategy. Outlines the firm’s short and medium-term interest rate and foreign exchange rate forecasts.

Economic and Market Updates

Equity and Fixed Income Strategy

Strategic commentary on fixed income and an overview of fixed income markets.

Special Report | Post-Election Economic Landscape

A timely analysis of recent economic events

Global Markets Commentary

The monthly Global Markets Commentary provides an overview of recent global events and their impact on the markets.

Global Equity Weekly

A look at what happened in the equity markets over the past week and an update on the earnings reports.

Talking Points

Talking Points is a weekly market commentary written by Douglas Porter, Chief Economist and Managing Director at BMO Capital Markets.

Podcast: Brian Belski’s Market Outlook for 2021

In this episode, Sylvain Brisebois, Senior Vice-President and National Sales Manager, BMO Private Wealth speaks with Brian Belski, Chief Investment Strategist, BMO Capital Markets who shares his thoughts on the unprecedented nature of 2020 and challenges that remain for 2021. BMO Capital Markets’ recent publication, 2021 Market Outlook, is also attached to this invitation.

2021 Market Outlook - BMO Private Wealth

2021 Market Outlook – The Continuation of the Roaring Twenties Recovery, Rotation and Reflation

Investment Strategy: 2021 Market Outlook

BMO’s outlook on the equity markets featuring Brian Belski, Chief Investment Strategist, to help you prepare for the coming year.

IN Tune Podcast

IN Tune is a podcast series featuring Equity Research analysts from BMO Capital Markets.We explore key emerging themes and trends to help you manage your wealth with confidence.

Wealth Experience Podcast

Tune into The Wealth Experience podcast channel for an exclusive BMO Wealth Management Podcast.

Current News / Affairs

2021 Federal Budget Review

On April 19, Finance Minister Chrystia Freeland presented her first Federal Budget from the minority Liberal government in the House of Commons. Since the government did not introduce a budget in 2020 because of the uncertainty of the COVID-19 pandemic, this was the first Federal Budget in more than two years.

Education and Knowledge

Contribution Reminder for Your RRSP / TFSA / RESP

Maximizing the value of your registered plans by making annual contributions to your Registered Retirement Savings Plan (“RRSP”), Tax-Free Savings Account (“TFSA”), and Registered Education Savings Plan (“RESP”) is an important wealth planning strategy. By making your annual contribution(s) early in the year, you’ll benefit from the tax-sheltered growth all year long.

Registered Retirement Savings Plans

Investing in a Registered Retirement Savings Plan (“RRSP”) is one of the soundest ways to ensure you enjoy a financially secure retirement. In order to maximize the benefits of an RRSP, it’s important to have a basic understanding of the rules that govern them.

Registered Retirement Income Funds

A RRIF is very much like an RRSP in reverse. An RRSP is an account designed to help you save for retirement – a RRIF is an account designed to provide annual income in the form of withdrawals from a registered plan during your retirement. Click to read on about how you can benefit from an RRIF.

Investing Handbook

Understanding the Three Major Asset Classes:Cash, Bonds and Stocks