A Challenge for New Clients: How to Choose a Trusted Advisor

If you’re in business for yourself, you have a unique opportunity to build wealth in an asset class that others don’t have: equity in a business enterprise that some day may be sold for millions of dollars. In addition, that business can spin off income for family members that can provide significant tax advantages, done well. Understanding how to realize on this asset requires the help of a trusted financial advisory team. Who should be on that team and how do you find them? This is a challenge your next new business clients may wrestle with. Here are some tips on how you can open discussions to help them:

Advisors should be aware of and discussing income replacement opportunities with their client families if disability has entered into the picture.

If you have a Registered Disability Saving Plan and are receiving disability assistance payments from the plan, a portion of these payments will be shown in Box 131 of a T4A slip.

An employer may provide employees with the opportunity to purchase shares in the employer’s corporation at some future date, but at a price that is the current market price when the option is granted. 

We continue our Synthetic Dispositions series this week with a look at the short sale of similar or identical property.

Make sure you contribute $5,000 for each resident adult in the family every year.

Under the theme, Back to the Future, delegates at the DAC (Distinguished Advisor Conference), will explore opportunities to build on past successes and experiences in a changing environment for both tax and financial advisors. Find out how you can win an all expenses paid trip to DAC 2013!