Proper tax planning isn't simply about avoiding taxes.
Most people have been trained to avoid paying taxes at all costs.
But has your financial advisor been trained to lower all your costs?
The more you make, the more important it is you have a dedicated advisor who always:
✓ Minimizes your taxes
✓ Reduces your costs
✓ Explains any fees
While your financial institution may simply be focussed on funnelling your money into their investment products, managing and protecting your wealth means that tax planning has more of an integrated role to play in our process.
Your portfolio performance is only one measure of success. How much you keep is just as important. By implementing specific strategies into your overall financial plan, we can significantly reduce the amount of taxes you owe and simultaneously increase your net worth.
Minimizing your tax burden. Maximizing your wealth.
“Holistic” wealth management shouldn’t just be fancy marketing speak.
For us, it means you have a senior advisor who is always looking at the bigger picture, so that he can keep your taxes AND expenses as low as possible.
To help put things in perspective, the two biggest expenses in most Canadian’s lives are:
But many people don’t have access to a dedicated tax planner like we do!
Just some of our tax-smart strategies include:
✓ Maximizing deductions and credits
✓ Choosing tax-deferred and tax-exempt
✓ Establishing trusts and endowments
✓ Avoiding short-term capital gains taxes
✓ Making charitable bequests in your will
Tax planning isn't a separate department.
It's part of our mindset.
Integrated tax planning doesn't work well when people are working in silos.
So why would you want to leave your tax planning strategy in the hands of a big financial institution?
At Westminster Private Wealth, you can have a senior advisor with the knowledge to consider many of the tax implications that a less experienced advisor may not, such as:
- Your future tax rate may be higher than your current tax rate
- “Tax-free” investments aren’t necessarily better if the returns are lower
- Preserving the assets your beneficiaries will inherit through estate planning
- Practicing tax diversification, not just portfolio diversification
If your portfolio is not getting the attention you think it deserves, it may be time for a new plan.
“Ray is the only advisor I know that is in constant contact with me and is
always checking up and re-assuring that I am on the right path.”