Financial and Retirement Planning

Do you have a clear picture of where you want to be when you retire? A new generation of retirees is realizing that it’s not necessary to surrender to a slower, more leisurely lifestyle. The new reality is a more active and dynamic retirement—some call it a phase of “regenerating.” Achieving your goals during this phase of life doesn’t just happen—it takes careful planning and execution. We can use sophisticated financial planning software to create your personal net worth and cash flow statements, analyze your investments and define critical retirement and estate planning issues. This information can help you paint a more realistic picture of your lifestyle as you transition from full-time work. Grant & Cameron will apply knowledge, expertise and proprietary tools to guide you through a financial planning process that’s designed to help make your personal, family and financial goals a reality.


Estate and Tax Planning

Have you ever considered what would happen if you were no longer able to take care of your family? Regardless of your age, the size of your estate or the complexity of your situation, there are several questions you should be able to answer with certainty:

  • Are your affairs organized to reduce the impact of income taxes and other estate costs?
  • Are you sure that your estate will be distributed as you intend?
  • Do you have a will? Is it current, such as beneficiary designations or joint ownership situations?
  • If you were to become incapacitated, have you legally appointed someone to make financial and personal care decisions on your behalf?



An estate plan is a key component of your overall wealth management strategy. Your family will appreciate the care you took to provide for them, and to spare them the burden of putting your affairs in order during a most difficult time. With planning, you can maximize the value of your estate, minimize taxes, have control over how your estate is distributed and help avoid conflict among your beneficiaries. We can help identify estate planning opportunities and issues, engage experts to advise you on strategies that suit your circumstances and oversee the successful implementation of your personal estate plan. They can also introduce you to BMO Trust Company, if you want to appoint a corporate executor. Trusts—Asset Protection and Tax Savings

Through BMO Trust Company, our team can offer you the unique protection and tax-saving potential of trusts. A trust is a legal structure that can be set up immediately or upon your death. Its function may be to reduce taxes or protect your beneficiaries from themselves or others by placing explicit limits on how, when and by whom your assets may be accessed. Trusts are one of many tools we may recommend to give you greater security and assurance.


Insurance - A bad word ?

With licensed insurance agents on the team, we are able to differentiate which, if any, insurance products are appropriate, and which are simply an expensive savings plans which pay high commissions. Insurance does, however, have its place. For example, insurance strategies can provide steady income or a lump sum payment at a time when it’s needed most. Later in life, insurance strategies can provide supplemental retirement income on a tax deferred basis, as well as a financial buffer in the event that long-term medical care is required. With proper insurance planning, it is possible to enjoy considerable income throughout your retirement while also preserving the value of your estate for your future heirs. Finally, when the time comes to transfer your wealth to the next generation, insurance “may” provide a mechanism to offset taxes and other estate settlement costs that could otherwise significantly diminish your legacy. Whatever stage of life you are at, we can help you separate fact from fiction in a confusing industry, and help you determine what, if any, insurance protection you need to complement your overall wealth management strategy.


Full-circle wealth services

Wealth is like health – the best outcomes depend on a holistic approach.

We can help you manage your assets, plan for retirement and live your vision. Catering to busy MDs, we make banking, borrowing, investing and wealth planning quick and easy, all under one convenient roof.

First, we will address your immediate needs, such as financing your new practice or buying a home. As we get to know you better, we will build a comprehensive wealth plan that grows with your needs.

Working closely with BMO specialists, we can bring you tailored services in private banking, commercial banking, lending, tax planning, trust and estate planning, insurance, business succession strategies, legacy planning, and more. Ask us to introduce you to the right individuals for your needs.


Goals-based wealth planning

Our disciplined wealth planning is based on your own meaningful goals rather than market benchmarks. Your Wealth Plan is the blueprint upon which your asset allocation and investment portfolio will be built and measured. Our complete, tailored wealth services will be delivered through a personalized relationship with you and a deep understanding of your unique financial challenges.

We will help you minimize taxes to offset high earnings and manage your portfolio proactively; good returns are especially important for physicians with large expenses. Physicians often have too little portfolio diversification, which creates risk. We will allocate your assets to help protect you from market volatility.


Expertise at reducing debt and boosting cash flow

Attending medical school, starting and growing your practice comes at a significant cost.  We can help you to pay down substantial debt, begin to accumulate capital, adopt strategies to improve your cash flow and develop disciplined spending habits without feeling like you’re on a budget.


Strategies for a great retirement

We are well-qualified to help you plan for all your financial needs. In addition, we work closely with BMO Wealth Planners in complex situations. Together, we can help you to understand and plan to achieve an ideal retirement as you define it. The key is to diversify intelligently so that all your assets are not held within your practice.


Discretionary investment management

Our team offers discretionary investment management, which alleviates decision-making pressures on busy doctors. Delegate your portfolio decisions and free yourself from daily decisions, which can enable us to respond fast when opportunities or risks arise.


A dedicated Private Banker who provides bespoke services to help you:

Your BMO Private Banker provides more nuanced and attentive service than you’ll find at a branch or online. They will:

  • Get to know you and build a long-term relationship.
  • Simplify your banking and take care of your day-to-day needs with white-glove service to save you time and money.
  • Offer you enhanced rates and lending opportunities in certain circumstances.
  • Help you manage debt effectively by offering:
    • Financial advice,
    • A BMO® Medical Student Line of Credit,
    • BMO® CashBack® Mastercard®,
    • BMO® Rewards® Mastercard, and
    • A free chequing account.
  • Help you connect with BMO lending experts who provide:
    • A medical professional’s line of credit and credit cards at preferred interest rates,
    • Small business incorporation and tax planning advisory services,
    • Business mortgages, and
    • Capital financing and cash flow management.


Practice succession advice

Unlike traditional business owners, physicians cannot easily or objectively measure the value of their practice in order to transfer it to another clinician. You are your practice. So, together with experienced BMO business advisory and practice succession experts, we will help you decide how and when to retire and transition your wealth tax-effectively to loved ones and charitable organizations.


Contact us to discuss your needs