After gaining an understanding of your short- and long-term goals, I will network with a passionate, experienced team of BMO Private Wealth specialists to create your customized and complete wealth plan. I will advise you regarding tax considerations and trusts if they are required, and help you plan and protect your estate and legacy.

 

My broad network of BMO Private Wealth specialists brings you tremendous financial bench strength:

 

  • Will reviewers
  • Private Banking professionals
  • Tax planners
  • Business and Commercial Bankers
  • Asset managers
  • Investment bankers
  • Trust and estate planners
  • Risk management experts
  • Insurance specialists
  • Business succession specialists
  • Credit consultants
  • Strategic philanthropy consultants
  • Lawyers
  • Accountants

 

Staying relevant and updated. I will constantly adjust your plan and banking services to external conditions and life transitions to ensure your goals are proactively, strategically managed. This saves you time and worry when making important decisions. You know your financial affairs are in order and will remain on track to reach your goals throughout your life – the ultimate benchmark of success.

 

Guiding you through major life transitions. With the specialized assistance of my BMO Private Wealth partners, I can add significant value when helping you and your loved ones to prepare for major milestones or manage periods of transition; for example, when you:

 

  • Get married or divorced
  • Buy or sell a practice or business
  • Inherit money or win a lottery
  • Change your career
  • Start a family
  • Plan for and enter your retirement years
  • Purchase or renovate your home or vacation property
  • Have an accident or are diagnosed with a major illness
  • Fund an education
  • Wish to make a major charitable contribution
  • Want to optimize your corporate tax structure
  • Incorporate

 

 

Estate planning

 

We will discuss what will happen if you die without a will and the stress it would leave for your loved ones and business partners at an emotional time. Taking a little time to create or update your Will, Powers of Attorney and beneficiaries can pay off enormously in the years to come and avoid preventable problems and loss of wealth.

 

Trusts

 

Complications and conflict often accompany significant wealth. These can include dynamic relationships, diverse assets held across various geographies involving multiple generations. I can introduce you to Trust Officers at BMO Trust Company, who can help you take action on some of life’s most important financial matters and manage even the most challenging transitions while feeling confident and supported.

 

Ask me about:

  • Living, Family and Testamentary Trust services for your family and family business
  • Attorney for Property, Executor, Trustee, or Court Appointed Representative services
  • Agent services to provide support to individuals acting in a fiduciary capacity

 

Business succession planning

Discussions can involve:

 

  • Determining how much you would need to be able to step away from the business and retire comfortably.
  • Estate equalization solutions to help you bequeath an equitable amount to each of your offspring when some of them are involved in your business and others are not.
  • If you are not transferring the company or practice to a family member, working with BMO Private Wealth business succession planners, estate planners and business valuation experts to help you find the right buyer to get the best value for all your sweat equity:
    • Hire business valuators to assess the value your business
    • Prepare your business or practice for sale
    • Plan for a smooth succession to help you get the best possible return for the time and sweat equity you have invested:
      • Interview and consult with prospective buyers, and
      • Guide you through negotiations and provide insights on what to look for.
  • Once the business has sold, we will help you to:
    • Create a reliable income stream for retirement from the proceeds of your liquidation event.
    • Transition smoothly from driving forward as a business leader or professional to moving actively into the next phase of life.
    • Transfer your wealth to your heirs tax-efficiently.

 

Strategic philanthropy

 

Working with a philanthropy specialist, I can help you to set up:

 

A private foundation, which is the most highly structured and personal form of long-term giving and the best suited for strategic philanthropy. I can provide assistance with all related tasks, including CRA charity returns, meeting preparations, recipient charities and tax compliance issues.

 

A donor advised fund through the BMO Charitable Giving Program, which lets you give back in a significant way and create a legacy. You contribute to a donor advised fund administered by the Charitable Gift Funds Canada Foundation* and managed by BMO Private Investment Counsel Inc. or BMO Nesbitt Burns. This gives you flexibility in how you manage and execute your charitable giving strategy in a cost-effective manner. You save time because you leave all the administrative responsibilities to the Program’s charitable partner, Gift Funds Canada*. You’re relieved from the responsibilities of managing, reporting and making distributions to your qualified charitable beneficiaries.

 

*An independent, non-profit charitable organization and is registered as a public foundation with the Canada Revenue Agency that brings you cost-efficient and tax-maximizing benefits.

 

Insurance strategies

 

You’ve accumulated substantial wealth over the years and want to protect what you cherish. Together with BMO Estate & Insurance Advisory Services, I can recommend strategies to help you preserve, enhance your wealth before, during and after retirement and then transfer it tax-efficiently to your loved ones.

 

I will collaborate with you and specialists at BMO Estate and Insurance Advisory Services to:

 

  • Ensure that you and your family have adequate insurance coverage that can preserve or enhance your estate, provide protection and risk management solutions in the event of critical illness or disability, and look after your family in the event of an untimely death.
  • Bring you a broad range of insurance products offered by some of the largest and most established insurers in Canada.
  • Objectively help you to explore your options and consider cost-effective solutions that are designed for your unique situation and timeline.
  • Use insurance as an excellent tool to preserve and enhance the value of your estate, minimize taxes, fund health care expenses and support your charitable giving goals.
  • Help you manage risk, seize opportunity and plan for taxation, health issues and longer life expectancies.
  • Assess your key personal and corporate risks and opportunities and point you towards flexible, cost-effective, multi-faceted insurance solutions that can help you preserve and enhance the wealth you’ve created.
  • Increase the financial resources available to you and your heirs, through:
    • Critical illness insurance
    • Disability insurance
    • Long-term care insurance
    • Whole life insurance (traditional whole life, universal life, variable life and variable universal life)
    • Term life insurance
    • Guaranteed life annuities
    • Business insurance
      • Business interruption
      • Crime
      • Directors and officers
      • Cybersecurity
      • Professional liability
      • General liability
      • Commercial property
      • Key man insurance

 

Platinum Banking

 

BMO Private Wealth offers a full range of Platinum Banking solutions that can provide you and your family with highly customized and innovative products and services. Your dedicated Private Banker will help you and your family to simplify and enhance your financial journey. Navigating intricate financial situations and structuring complex transactions, they will help you achieve your financial objectives, manage the challenges of significant wealth, and benefit from bespoke rates and solutions.

 

For your cross-border financial needs, I can introduce you to a private banking professional at BMO Harris Private Banking.

 

You can enjoy comprehensive and personalized banking services through a dedicated Private Banker:

  • Customized solutions tailored for your unique banking and borrowing needs:
    • Lines of credit, mortgages and other personal financing solutions that allow you to access the funds you need to reach your immediate and long-term goals while also earning great rates.
    • Financing through personal holding companies, life insurance, monetizing investment holdings to free up cash, and fulfill other complex personal borrowing requirements.
  • Managing deposits and other services:
    • Competitive deposit and investment products as well as services that provide you with easy access to your money.

 

Whether you are looking for the latest in mobile apps to access your money, or you’re spending time and own property in the U.S., your Private Banker can help.

 

Personal and commercial banking – under one roof

 

At BMO Private Wealth I can serve multiple financial needs under one roof to save you time and money and guide you through all the red tape. Our professional credit solutions help you manage your family and business or practice banking at the same firm. For example, we can finance your business and the building in which it operates as well as provide your family’s mortgage and line of credit.

 

When you wish to borrow money or source venture capital, I will liaise with our network of Private Bankers, lending specialists and corporate finance specialists to connect you with the right financing opportunities according to your level of need:

 

  • Business Banking (below $1M)
  • Commercial Banking ($1M to $10M)
  • Corporate Finance ($10M and over).