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Lisa

Working with her ScotiaMcLeod^® Wealth Advisor in a fee-based investment relationship, Lisa has a robust portfolio with registered and non-registered accounts, including Registered Education Savings Plans (RESPs) and Tax-Free Savings Accounts (TFSAs). Together, these accounts work to help Lisa reach her big-picture goals of saving tax-efficiently for her retirement and her children’s education.

With an introduction from her Wealth Advisor, Lisa met with a Business and Family Wealth Specialist who took a customized approach to developing a plan that considered Lisa’s entire financial picture and how strongly connected Lisa’s business is with her personal goals. Working together with her other Scotia Wealth Management professionals, Lisa put strategies in place to help monetize some of the equity she has in her business today, while preparing her business for future sale on her retirement.

As a core part of her financial plan, we helped Lisa review important tax strategies such as income splitting and tax-deferred investing with her external tax professionals. Based on her business structure, we helped identify opportunities to minimize Lisa’s family’s tax obligations through investment-based income splitting strategies.

In addition to the savings plan for Lisa’s children’s education needs, Lisa’s ScotiaMcLeod Wealth Advisor also worked with her external tax professionals to create a family trust that could help her children access regular income in a more tax-efficient way.

By understanding Lisa’s goal to protect her family’s financial security, and her integral role in the family business, we helped Lisa identify insurance strategies that could play a role in protecting her family financially in the event of an untimely death, or provide much needed cash flow if either she or Dan were diagnosed with a critical illness.

Lisa worked with her Private Banker to evaluate how she could access capital to continue investing in her business. Lisa’s Private Banker helped her establish a simple and convenient line of credit secured against her investment portfolio. Using the Total Wealth Credit Solution^™, Lisa can access funds easily to support the growth of her business, without negatively impacting her investment strategy.