Client story

Richard lives in Canada with his wife and children, and has extended family in Mexico. He works for one of the world’s leading luxury automobile manufacturers and commutes often between offices in Canada and Mexico. He and his wife have three children: two boys, aged 17 and 11 and a daughter, aged 14. They have their primary residence and a summer cottage in Canada, and spend winter vacations at a condo in Mexico. Richard has achieved success by creating the right opportunities for his future and his family.

  • AGE 
    47 years old

    married, 3 children

    demanding career

    key need – saving and investing for the future

  • How we structured Richard's wealth

    Scotia Wealth Management leveraged Richard’s passionate vision for life to create a flexible and dynamic plan that could help him address his current and future financial goals with:

    Investment Management

    Given his demanding career and travel schedules, Richard prefers to delegate the day-to-day administration of his portfolio to his professional Private Investment Counsel Portfolio Manager. Richard’s Portfolio Manager manages his investments according to a disciplined investment approach that is tailored to Richard’s long-term financial goals.

    Income Splitting

    As a result of Richard’s above-average income earning ability, Richard’s Portfolio Manager worked closely with Scotia Wealth Management specialists and Richard’s external tax professionals to help identify and implement investment income splitting strategies to help him achieve tax-efficient investment returns while creating a tax-efficient income stream for his wife.

    Private Banking Solutions

    Richard understands how to use bank financing to take advantage of investment opportunities using strategies that use debt in a tax-efficient manner. Through an introduction from his Portfolio Manager, Richard worked with a Private Banker to establish a line of credit secured by his portfolio and the cash surrender value in his insurance policy. The cash surrender value in the life policy provided Richard with a more stable loan collateral base than investments alone. These borrowed funds give Richard and his Portfolio Manager added flexibility to take advantage of timely investment opportunities as they arise.

    International Banking

    Richard is able to travel professionally and personally, without worrying about foreign exchange or banking administration. In addition to accessing trusted local banking services, Richard has flexible and secure access to funds through Scotiabank®’s international credit cards and bank services.


    Given Richard is a sole income-earner, it was critical that his insurance strategies were able to provide long-term peace of mind for his family in the event of Richard becoming disabled, developing a critical illness or passing away unexpectedly. We helped Richard identify insurance strategies that could play a role in protecting his family financially in the event of an untimely death, or provide much needed cash flow if Richard were diagnosed with a critical illness or became disabled.

    Contact us to learn more how these services can be customized for your financial goals.

    Others we've helped


    Daniel is a senior vice president with one of Canada’s largest mining companies. His wife, Denise, runs her own interior design consulting company.

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    Ellen is a mother to three children. Her husband is an executive at a multi-national corporation. 

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    David recently retired from his position as senior partner at the largest law firm in Montreal.

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