Financial Planning

Success never happens by accident.

You didn’t get where you are today without planning. With Scotia Wealth Management™, financial planning will play a pivotal role helping to ensure your continued success. That means starting with a rigorous examination of your unique situation: your assets, your concerns, and your short-, medium- and long-term goals.


You, your relationship manager and a team of Scotia Wealth Management specialists will work together to define your goals, and identify gaps in current plans that may need attention and new opportunities that can be realized. Making your retirement income more tax efficient, for example, or using strategic borrowing to execute an investment strategy. Then, together, we will develop a tailored financial plan with a view to preserving your hard-earned wealth and creating strategies to embrace new opportunities for future success – as you define it.


That’s Enriched Thinking®. It’s all about listening and understanding the life you envision, then offering advice and guidance that will help make it happen. It’s about us working together to give you confidence, and a feeling of excitement, about what’s next.

Preserving and building your wealth means taking a careful look at your total financial picture, including a thorough analysis of your tax situation. Whether you’re retired, own a business or are planning to one day transfer an estate to your family, the financial implications of your lifestyle and your investments require expert attention.

Your relationship manager and our specialists will work with you and your external tax professionals with a view to ensuring your wealth management needs are addressed in a tax-efficient manner. Income splitting, tax-deferred investing and effective estate planning are just a few of the strategies that can be explored to help you realize tax efficiencies. 

You may never make a more difficult, complex and bittersweet decision in your life than when the time comes to transition out of your business. Do you sell it? If so, to whom? Do you transfer ownership to outsiders, the employees, or a family member? What can you do, today, to build long-term equity for your business? What is the best way to structure the transaction? The possibilities and questions are many, and each of them will have a unique impact on your overall financial situation.

Our approach to business transition planning takes into account your personal and business specifics, and will be designed to reflect your overall wealth management strategy. From recognizing and reviewing your personal priorities to identifying a successor or buyer, Scotia Wealth Management professionals will work with you and your relationship manager to help you develop a transition plan that is smooth and advantageous.

Our specialists understand the challenges, issues and complex needs of business owners and affluent families, and are experienced in helping them manage this intricate process. We will offer guidance and assistance around continuity of business ownership, family dynamics, contingency plans, tax-efficient structures, integration of personal and business wealth, and legacy plans. All with the end-goal of you getting what you want out of the business you’ve worked so hard to build.

Often overlooked, insurance can be used in innovative ways to help build and preserve your wealth regardless of your stage of life. Whether your goal is to protect your family in the event of an untimely death or transition your wealth to the next generation, our Insurance Consultants will work with you and your relationship manager to develop and implement a plan with a view to enhancing your overall wealth strategy. Areas to consider include:


Managing Risk – Some of the roles of insurance include managing risk, helping to protect you and your family against financial loss resulting from a disability, critical illness or death, and providing a certain relief at a time you need it the most.


Minimizing Taxes – We have a wide range of insurance solutions designed with a view to helping you minimize, defer and, at times, offset taxes payable. From sheltering your assets, to minimizing estate taxes, to creating a tax-preferred income stream, we will discuss with you and your external tax professionals the many possible roles insurance solutions can play in your portfolio.


Enhancing Income – Diversifying your income sources with insurance solutions can help improve your overall financial position from a retirement and estate planning perspective. If you are interested in receiving a guaranteed income steam for life, while still ensuring that your original investment is preserved for the next generation, insurance could be a nice addition to your financial plan.


Caring for Your Health – For a variety of reasons, people are living longer today than ever before. Unfortunately, this means that for many people, health issues could have a greater impact on wealth and savings than things like stock market performance. Issues like a critical illness, disability, or the need for long-term care can all be taken into account with insurance planning.


Leaving a Legacy – One element you’ll likely want to consider for your overall wealth strategy is the legacy you’ll ultimately leave your loved ones. A key to effective financial planning is employing strategies designed to minimize estate taxes and maximize the amount of wealth that can be transferred to the next generation. Insurance solutions can play a key role in transitioning wealth to the next generation, and ensuring your legacy lives on long after you are gone.

Financial independence comes with responsibility – and the need to ensure your family’s well-being now, and in the future. Our Business and Family Wealth Specialists can help. We provide comprehensive planning and advisory services targeted at private business owners, other professionals or executives who have created their own wealth, moving from a position of success to one of significance. They often desire financial sustainability for generations to come, alongside meaningful societal impact.

We provide comprehensive support for complex planning needs, estate and trust, philanthropy as well as concerns related to business transition planning or family dynamics, such as wealth stewardship or children working in a business. In particular, your relationship manager and our specialists will work with you and your external tax professionals with a view to ensuring your wealth management needs are addressed in a tax-efficient manner. This premium service includes coordinating the integration of other experts and professional advisors, developing robust planning strategies through a team-based approach, overseeing the implementation of recommendations, and in many cases, providing ongoing guidance. 

Contact your Relationship Manager today to find out how we can help you achieve your goals through a carefully thought-out plan.

Latest Thinking

A selection of some the best thinking from around the world for your life, your business and your future. Updated regularly.

Enriched Thinking

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Married men and women need to work together to arrive at a happy medium as it relates to investment risk.

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Balancing the benefit and the burden of wealth

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Your Life

Teach your daughters money lessons they will never forget

The home of the Toronto Maple Leafs and Toronto Raptors has officially been renamed Scotiabank Arena, as Canada Day marks the start of the Bank of Nova Scotia’s 20-year venture to burnish its brand and attract new customers.

Your Business

I tried Jeff Bezos's PowerPoint replacement at my company--and it actually worked

How Jeff Bezos and Amazon use memos to make meetings more productive and how companies can adopt the same practice to achieve similar results.

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Want to become a more efficient networker? Start by asking these 5 questions

Money doesn’t have to be a mystery, a taboo topic, or a source of conflict. It’s up to you and your partner(s) to forge a positive pathway in a loving and supportive way.

Financial Planning is provided by The Bank of Nova Scotia, 1832 Asset Management L.P and ScotiaMcLeod®, a division of Scotia Capital Inc.


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

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Elizabeth is a medical professional and her husband is retired, having sold his software business to a multinational corporation recently.

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

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Over a period of 40 years, James and his wife Debbie built a business empire. He is looking to retire, transferring ownership of the business to a son.

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Lisa and her husband Dan run a successful retail clothing business, with a chain of seven stores across Canada.

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Richard works for one of the world’s leading luxury-automobile manufacturers and commutes often between offices in Canada and Mexico.

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