Executives

A personal plan for your executive compensation.

Investment management and financial planning for Canadian executives. Understand your awards and deadlines, prepare for changes at work and invest for the life you want to lead.

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Your compensation and personal wealth

Know which decisions need your attention.

Salary, bonuses and equity awards can create wealth on different timelines. Alongside work and family, you have dates to track, choices to make and money that may not yet be available.

We help you understand the terms, prepare for the decisions and build wealth beyond your employer. Public- and private-company plans need different reviews.

Colleagues discussing documents around a meeting table.

Questions to start with

What will vest, when will I receive it and in what form?

What do I need to decide, and by when?

What changes if I stay, move roles or leave?

What matters in your situation?

Understand your awards

What needs your attention next?

See what may vest, how it will arrive and which decisions have a deadline. Connect the dates with your work and family plans.

See the planning picture

On-page reading · No form required

Manage exposure and liquidity

How much should depend on one company?

Your income, company shares and future awards can depend on the same employer. Review concentration, accessible money and the restrictions on any proposed sale.

Explore the corporate executive guide

Guide · Contact details and email consent required

Plan for an employment change

What happens when work changes?

A takeover, unexpected departure or retirement can bring award, pension and household decisions together. Plan for the immediate needs and what comes next.

Explore transition planning

On-page reading · No form required

Your compensation in context

From award statements to a financial plan.

We review your award statements and plan terms to identify payments, instructions and deadlines. Your financial plan brings those dates together with the money your household needs.

Your compensation through the year.

Illustrative award terms
Executive compensation and the decisions aheadIllustrative executive compensation timeline. Salary and bonus are cash income. The RSU example has distinct vesting and May share receipt dates; the PSU example is conditional cash. An option review precedes an October expiry. DSU departure and payout terms need confirmation. Before a career move, review awards, pension choices and family needs. Actual award terms, settlement methods and dates differ. This is a planning illustration, not a client case or permission to trade.CompensationAn illustrative yearPlanning considerationsJan–MarApr–JunJul–SepOct–DecSalary + bonusCash compensationIncome through the yearTax and household spendingRSUsService conditionsShares receivedWithholding and company exposurePSUsPerformance conditionsCash, if earnedConfirm the amount and settlementOptionsExercise and expiryAn exercise decisionCost, tax and required approvalsDSUsDeparture-related termsConfirm plan termsDeparture and payout timingVestMay receiptReviewOctober expiryBefore a career moveReview awards, pension choices and what your family needs.Executive compensation and the decisions aheadIllustrative executive compensation timeline. Salary and bonus are cash income. The RSU example has distinct vesting and May share receipt dates; the PSU example is conditional cash. An option review precedes an October expiry. DSU departure and payout terms need confirmation. Before a career move, review awards, pension choices and family needs. Actual award terms, settlement methods and dates differ. This is a planning illustration, not a client case or permission to trade.An illustrative yearJanDecSalary + bonusCashRSUsShares receivedVestMay receiptPSUsCash, if earnedOptionsExercise decisionReviewOctober expiryDSUsPlan termsDeparture and payout timingBefore a career moveReview awards, pension choicesand what your family needs.
Dates and settlement methods are illustrative. Confirm your plan’s conditions, tax treatment, deadlines and permissions. An open trading window alone does not establish permission to sell.

In the funding example below, an assumed sale provides C$20,000 before tax and costs for a C$25,000 commitment. It shows the resources to check and the choices to weigh before treating a goal as funded.

How we work with you

The details depend on your plan.

For Canadian employee awards, share-unit payouts are generally T4 employment income. Options have specific tax rules. Settlement, withholding and trading restrictions affect what you can use.

RSUs, PSUs, DSUs and options: what differs?

The award name is only the starting point.

Salary and bonus sit alongside awards with different conditions, payout mechanics and tax treatment. For Canadian employee awards, share-unit payouts are generally employment income reported on a T4. The actual structure determines timing; a later share sale is a separate event.

RSUs

Restricted share units commonly depend on continued service. The plan may settle them in cash or shares; vesting does not by itself establish settlement or sale permission.

PSUs

Performance share units link the payout to specified performance results. Review the measures, service conditions and whether settlement is cash or shares. The payout may be below target or zero.

DSUs

Deferred share units commonly link redemption to retirement or departure. Review the permitted payout period and cash or share settlement under the plan, together with the income that may arrive when work ends.

Options

Options involve an exercise price and expiry. For a typical public-company exercise, the employment benefit is based on the value of shares acquired less the exercise price and any amount paid for the option. A stock-option deduction is conditional, not automatic. Canadian-controlled private corporation (CCPC) timing can differ.

Share units and options are not interchangeable. Do not assume that an option deduction applies to a unit payout, or that a capital loss on retained shares offsets employment income. Your accountant should confirm treatment from the plan and your circumstances.

CRA: award and option treatment

Blackouts, MNPI and planning a permitted sale

A trading window is one part of the decision.

Blackouts and MNPI are separate checks.

Scheduled and event-specific blackouts, employer pre-clearance and material non-public information (MNPI) can constrain a discretionary sale. An open window does not override insider-trading restrictions.

Follow the issuer’s approved process for any MNPI concern. Do not put confidential employer information in a website enquiry or assume that sharing it with an adviser permits a trade.

Plan ahead for constrained liquidity.

If a sale is unavailable, review other cash resources and the timing of commitments. Where an automatic securities disposition plan is relevant, its availability and terms require advance issuer, dealer and legal review.

A prearranged plan is not a workaround to establish after receiving MNPI. No trading-plan implementation service or approval is implied here.

Work through the constraints before choosing a sale.

  1. Read the award terms

    Map conditions, cash or share settlement, vesting, redemption and expiry dates.

  2. Review tax and funding

    Distinguish employment income, withholding, exercise cost, available cash and retained shares with your accountant.

  3. Confirm permission

    Follow issuer and legal processes for blackouts, MNPI and pre-clearance. Review ownership and reporting obligations.

  4. Compare permitted choices

    Assess the financial plan using actions that are available. Consider other liquidity if employer securities cannot be sold.

CSA: prearranged sale plans

See a funding decision using a hypothetical RSU grant

A hypothetical funding example

Can this award fund the commitment?

Assume 2,000 share-settled RSUs: 1,000 vest in June 2027 and 1,000 in June 2028. At a constant C$40 share price, half of each vest is sold and half retained.

2026 · Before the first vest

Future awards are not current cash.

RSUs scheduled for later years
2,000
Illustrative value at C$40
C$80,000
Award-sale proceeds this year
C$0

2027 · Assumed vest and sale

1,000 units vest; half are sold.

Gross award-sale proceeds this year
C$20,000
Total company shares retained
500
Retained-share value at year end
C$20,000

2028 · Assumed vest and sale

1,000 units vest; half are sold.

Gross award-sale proceeds this year
C$20,000
Total company shares retained
1,000
Retained-share value at year end
C$40,000

After the assumed 2027 sale, C$20,000 of gross proceeds is C$5,000 below a C$25,000 commitment. Salary and other resources are excluded from this comparison.

Choices to compare

Use other accessible money, change the commitment or consider a different permitted sale. Retaining shares keeps both the potential gains and company exposure. Selling more changes both.

Confirm before deciding

Confirm settlement and sale permission. Ask your accountant to reconcile payroll withholding with the expected tax, and allow for transaction costs. The amount sold in this example is an assumption, not a recommendation.

Hypothetical CAD example before tax, withholding and costs. Assumes all award conditions are met, shares settle and may be sold immediately at vest, and required approvals are obtained. Retained shares are not sold later. The C$25,000 commitment follows the first assumed sale. Salary and other resources are excluded; this is not a household cash-flow shortfall. Actual plan terms, settlement dates and restrictions must be reviewed.

See a hypothetical sale of already-owned shares

Assume 30,000 saleable shares at C$40 and C$800,000 in other investments: C$2 million shown, with 60% in employer shares. Selling 10,000 shares produces C$400,000 gross and leaves 20,000 shares worth C$800,000: 40% of investments shown before tax and costs.

If the company share price then falls 25%, the company holding declines by C$300,000 when all shares are retained, versus C$200,000 after that partial sale. Other investments and gross sale proceeds are assumed unchanged. Selling also relinquishes gains on the shares sold.

Hypothetical CAD sensitivity, not a forecast or recommended sale percentage. Assumes the sale is permitted at C$40. Tax and costs reduce usable proceeds. Neither example models a blackout, decides MNPI status or gives permission to trade.

Pension, private-company liquidity and cross-border tax require their own assessment.

Financial planning is part of our investment-management relationship. We do not offer standalone financial planning engagements.

Your awards can remain with your employer’s administrator, and much of your wealth may still be illiquid. You do not need to wait for a payout to begin a conversation.

When employment changes

What happens to your wealth when work changes?

A takeover or unexpected departure can bring compensation, pension and household decisions together. You may be deciding your next career move at the same time.

A company is taken private

Confirm whether awards are paid, replaced or lost, and when income may arrive. Review what continued employment could look like.

Your role ends

Review awards that may be lost, changed exercise deadlines and when benefits end. Include pension choices in the household spending plan.

Family needs change too

A separation or other family change may affect spending and ownership decisions. Bring the relevant legal and tax advice into the plan.

Two people overlooking a lake and mountain landscape.
A new role, time away or retirement: understand what your resources need to support.

Build wealth beyond your employer.

Decide what money needs to remain accessible and what can be invested for longer-term goals. We account for your employer holdings and industry exposure when managing the rest of your portfolio.

We review new grants and payments with you using updated statements. This includes assessing when your resources could support retirement or time away from work.

Our investment approach

How we work with you

The people working on your plan.

We review your compensation and household needs, then manage the investments supporting your financial plan.

We have helped executives plan through take-private transactions and unexpected departures involving equity compensation, pension decisions and changing family circumstances.

Christopher Bowlby’s CFA and CFP designations and Debbie Bongard’s mastery training through the Financial Transitionist Institute support our investment, planning and transition work.

Our team

Connect the financial plan with your investment strategy and revisit it as your circumstances change.

Your accountant and lawyer

Advise on tax reporting, award terms and departure-related rights within their areas of expertise.

Your employer and plan administrator

Confirm plan information and administer awards, settlement and the relevant approval processes.

Relevant BMO specialists

Bring in banking, insurance, trust or estate expertise where appropriate. Review beneficiary arrangements and what your family would need to manage employer-held assets after disability or death.

Explore our services Meet our team

Career and retirement

Reading for a career change.

Browse our insights

Existing articles on changing roles, finding a new direction and preparing for life after work.

3 selected articles

Considering a new role

Should You Take That New Job?

Debbie Bongard · July 26, 2017

Look beyond the salary to benefits, work environment and the life you want the role to support.

Read the article

A change in direction

The World is Still Your Oyster: Late-Life Career Changes

Debbie Bongard · June 24, 2019

Consider what a later-career change could mean for your interests, work and next chapter.

Read the article

Life after work

Tackling a Retirement Transition: Asking Yourself “What’s Next”?

Debbie Bongard · May 29, 2019

Think through the changes in routine, identity and purpose that can come with leaving work.

Read the article

Executive wealth guides.

Two guides on compensation, employer exposure and the decisions ahead.

When Growth Complicates Wealth guide cover

When Growth Complicates Wealth

Explore the guide

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Frequently asked questions

Questions before we begin.

For shared questions about fit, fees and scope, visit our Services page.

Read our service FAQs
How do I know what needs action and by when?

We review award statements and plan terms to separate scheduled payments from elections, exercises and other instructions. Confirm the dates, funding and approvals with your employer or administrator, then bring the choices into your financial plan. Revisit the review when awards or employment plans change.

How much company exposure is too much?

There is no single percentage for every executive. We consider company shares and future awards alongside employment income, other investments, spending needs and your capacity for loss. Any diversification decision must account for blackout windows, material non-public information (MNPI), required approvals, ownership requirements and tax considerations. An open trading window alone does not establish permission to trade.

What if my company is taken private or my employment ends?

Review which awards may be paid, replaced or forfeited, and whether exercise deadlines or retirement eligibility change. Include any defined contribution pension plan (DCPP), defined benefit pension or supplemental arrangement that applies, along with benefits and insurance continuity. We bring expected resources and household spending into the financial plan. Your employer or administrator confirms the terms; your legal, tax and relevant pension or insurance advisers assess their consequences.

Can I access money if I cannot sell employer shares?

Start with available cash, other investments and the dates money is needed for spending, tax or an option exercise. A banking specialist can assess whether credit against eligible assets is available and appropriate. Restricted or unvested awards cannot be assumed to qualify as collateral. Employer pledging rules and lender approval apply. Borrowing adds interest costs and repayment obligations; falling collateral values may require more security or repayment. We consider those costs and risks alongside other resources.

What if my awards come from a foreign parent company?

Foreign-parent awards and payments in another currency need their own review, particularly if you work in more than one country or change residency. Bring the plan documents and payment records to the relevant tax advisers. We use that advice in your Canadian financial and investment plan; this does not include US tax-return preparation.

How do you work with my accountant and lawyer?

We bring the relevant perspectives into financial planning and investment decisions. Your accountant and lawyer remain responsible for their areas of expertise. Your employer and plan administrator retain their award-administration and approval responsibilities.

What happens in the first conversation?

We begin with a 30–60 minute conversation about your financial situation, the decisions you are considering and where we could help. There is no commitment. A broad compensation and financial summary can help us establish whether the relationship fits; detailed documents can follow through the approved process.

Can we work together if my awards stay with my employer?

Yes. You can work with us while your awards remain with your employer’s administrator, or while much of your wealth is still illiquid. We begin with your circumstances, compensation and the decisions ahead. Financial planning is part of our investment-management relationship. Read about working together

Talk through the decisions ahead.

Tell us about your compensation and the choices you are weighing. We will explain how our investment management and financial planning relationship could help. Keep website enquiries general; do not include confidential employer information.

Talk with our team

30–60 minutes · No commitment