Holistic Fiscal Strategies Inc.

9-3151 Lakeshore Road, Box 417 Kelowna BC V1W 3S9

Financial Services

We help individuals, families, and businesses focus on protection and long-term wealth strategies leveraging the power of earned income in the early years.  Financial decisions made in the early stages tend to have the greatest impact on your financial wealth creation future.  We strive to get your money to work harder for you.  The services we offer assist you in your personal finance decisions.  We offer a full array of financial products and services that, as part of your overall financial strategy, can help you achieve your goals.

Personal Services

     Business Services

  • Conservation / Preservation
  • Retirement Needs Planning
  • University Funding
  • Will / Trust Review
  • Life Insurance
  • Long Term Care
  • Employee Benefits
  • Buy / Sell Strategies
  • Succession Planning
  • Risk Management Analysis

 

Conservation / Preservation

We assist you in the design and implementation of programs to help ensure that your wealth is passed along to family or others, without being negatively impacted by estate or inheritance taxes.  This service enables you to plan your personal estate to help ensure maximum distribution and conservation to future generations.

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Retirement Needs Planning

Having the ability to retire comfortably from financial pressures remains the main issue for our clients – both business owners and employees. It is critical that the retirement plan be properly designed, implemented, communicated and administered. Retirement plans are dynamic, changing as client’s businesses and tax laws change. They demand continued and careful analysis, CRA compliance review and plan administration. The appropriateness of a “qualified” or “non-qualified” plan for any individual is determined based on the individual’s existing financial condition, as well as on his or her goals and dreams.

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University/College Funding

We will work with you to tell you if your current savings strategy may cover your child’s college expenses.  Do you dream of your child or grandchild going to college? Higher education comes with a high price tag, but it’s an expense you can help meet through proper financial planning. Let us help you calculate college costs, evaluate funding options and create an education strategy tailored to your goals.

Options may include:

  • Registered Educational Saving Plans -RESP
  • Education Savings Accounts
  • Tax Free Savings Accounts -TFSA
  • Family Trusts

 

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Will / Trust Review

Wills and Trusts are just tools in the larger process of “conservation/preservation.”  There is an unfortunate, widespread misconception that this topic is a subject of interest only to the wealthy. In fact, an estate plan provides the legal mechanism for disposing of property upon death in a way that recognizes your wishes and the needs of your survivors, while minimizing taxes. For many it involves, even more importantly, planning for the handling of affairs in case of disability, and the deeply personal medical choices to be made as life nears its end. Conservation/preservation is not just for rich people.  Trusts can play an important role in providing order to your financial affairs, assisting with your tax planning, simplifying your estate settlement and providing guidance for your family and other heirs.

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Insurance Ownership Management

Insurance is an important part of a complete financial plan. It helps to protect your heirs in the event of your death, and it may protect you in the event of a disability. We can help you determine what type of coverage is best for you. We can provide access to insurance products, including term life insurance, whole life insurance, universal life insurance, survivorship, single premium, long-term care solutions and long-term disability insurance. As you build relationships and share financial information with us, we are in a unique position to provide guidance and determine which insurance products are best for you.

 

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Long Term Care Solutions

There’s a good chance that you may need to pay for nursing home, assisted living or home health care one day. In fact, more than half of the Canadian population will require long-term care at some point in their lives.  Long-term care involves helping you with the most intimate aspects of your life, like what and where you’ll eat and your personal hygiene. Unfortunately, this kind of care is expensive. You probably shouldn’t assume that our government will help. We will help you protect yourself against long-term care expenses with the appropriate coverage.

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Employee Benefits

Providing an employee benefits package that includes quality, affordable health care coverage continues to be one of the greatest challenges for today’s employers. We put our considerable experience in this field to work on delivering alternatives to our clients. We evaluate the design of different benefits packages to achieve the best pricing structure and advice on implementing such options as cafeteria plans that allow for employee cost-sharing through tax deductible contributions. As well, we administer the benefits program, assisting employers with the claims filing procedure.

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Buy / Sell Strategies

A Buy-Sell Agreement is simply a written agreement made between the partner or shareholders of the business specifying buy out provisions caused by such things as death, disability, divorce, bankruptcy, voluntary termination, company dissolution, etc. The execution of a Buy-Sell Agreement helps secure a number of very tangible benefits for the shareholders, including:

  • Continuity of management and control for the remaining owners
  • A ready market for typically non-marketable business interests
  • Liquidity to the decedent’s estate for estate taxes and administration costs
  • A fair valuation of the business interest for federal estate tax purposes
  • A fair return to the decedent’s estate for his/her business interests

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Business Succession Planning

A key goal of many of our business owner clients is to someday transfer their business interest to either family members or key employees. Properly done, this type of planning can offer to both the current and successor owner a virtually worry free, tax efficient method of business succession.

Furthermore, the loss of a business owner through death or disability can catch even the most efficiently managed small companies off guard and, worse, unprepared to deal with the repercussions. Family businesses, in particular, are susceptible to erosion of capital due to estate taxes and legal fees; not to mention the possible hurdles of voting control being scattered among heirs, with conflicting points of view impeding the business’ operation and growth.

Working with your accountant and lawyer, we can provide a professional evaluation of your current situation that will help avoid future problems involved in business succession planning.

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Risk Management Analysis

Implementing a risk management program is fundamental to a company’s ability to protect itself against the loss of key personnel through death or disabling injury or sickness. We offer expertise on selecting life and disability insurance coverage for such a program.

We conduct a financial security analysis to determine the appropriate protection for companies and their key executives, which encompasses evaluating risk management needs and balancing them with living or wealth accumulation objectives. We design risk management programs to be affordable, to fill corporate and individual needs, and to be flexible enough to allow for a change as needs change. Our analysis also involves a review of any existing coverage to help ensure it is cost effective and includes up-to-date features. Through risk management analysis, we can deliver solutions in the form of policies valued and designed according to our clients’ needs.

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