Financial planning advice for MDS and the Professional

In today’s world, the stakes have never been higher for HNW professionals, whether an LLP, CORP, a young professional finding their way forward. Unless you were born with copious amounts of personal wealth, beginning your practice with sometimes, above-average student debt when compared to trades or professions is your reality.

Statistically, student debt for an MD averaged 158,000.00 in 2011 according to their statistics. Many of the practitioners we work with, graduate with a student debt of, more than 200,000.00.

Q: What are the disciplines of Financial Planning required?

A: Tax Planning, Cash – Flow, Education, Debt, Investment, Insurance, Retirement, and Estate, Farm Succession. Many financial advisors only provide Investment & Insurance products. We will provide both a personal and corporate needs analysis, then provide portable solutions designed to grow with your practice. It is our firm belief that all LLP’S, Partners, should receive complete holistic advice. Peters Wealth Management provides a comprehensive financial plan.

Q: What is your most significant risk to me?

A: The most significant risk to you, your family, and your partners is your ability to earn an income.

Q: What is my risk, and what can I do to protect myself, and my family?

A: The professionals we serve, have a written financial plan, which, when properly constructed, will clearly outline your risk, and how what customized solutions, may be required. A Risk Management analysis covers, Life, DI, CI, LTC, Loss of Income strategies, and protection of your future earnings capabilities.

Q: What about my practice?

A: All shareholders included in your LLP, or Corporation, run the risk of Death, Disability, Failure of Health, and eventually, Long-Term Care and protection of your future earnings capabilities. Ask yourself this? If something were to happen that affected my ability to earn an income, how would I fare? What if this happened to your partner(s), how would it affect your LLP or Corp?

Q: What is your Risk Management, Exit Strategy, for your LLP? Are you protected? Why Should I Have a Buy-Sell Agreement?

A: Without a buy-sell agreement, you could find yourself sharing the reins of your LLP or Corporation with your former partner’s spouse, children, or someone else. Would you want to be in business with someone who knows little about your business and does not have skin in the game?

Q: How does a Buy-Sell Agreement protect me?

A: A buy-sell agreement in basic terms, is an exit strategy for you and your business partners. It can protect you, your family, and partners, because it sets ground rules for how ownership shares should be dealt with or restructured, should you, or one of your partners leave the business.

Q: How do I fund the agreement?

A: If you ever need to act on your buy-sell agreement, the money will change hands. Do you have a cash account set aside for this purpose? Sources of revenue could include cash, Csv, installments, or collateral loans. Many shareholders and partners utilize life insurance as a cost- and tax-efficient solution. Cash values, also known as CSV, are available. If an entity-redemption agreement is in place, the Entity, LLP, or Corporation purchases individual life insurance contract on the lives of each owner. The entity then funds the monthly or annual premium and is both the owner, the beneficiary of the agreement. When an owner of the policy passes away, the LLP, Corporation, an or Entity uses the income-tax-free sheltered death benefit to purchase the deceased owner’s shares. A cross-purchase buy-sell, allows each owner to buy a policy on the other owner(s). When one of the owners’ passes, the surviving owner(s) use the death benefit to purchase the deceased owner’s shares.”

Q: What professionals should I use?

A: When entering into an LLP or Corporation, consult with an experienced CPA, Lawyer, and a Risk Management Specialist who can provide the education and the roadmap required to structure your entity.

Q: What is the cost of your planning services?

A: Peters Wealth Management does not charge a fee for building a holistic financial plan. Consultations provided at No Cost, No obligation to all. Full financial disclosures provided transparently, and at the time of any transaction executed at the request of the client. Before implementation, we conduct a thorough needs analysis of your Personal, LLP, Corporate, and Business operation has been. We offer complimentary, No Obligation customized risk management as part of our planning service.

Peters Wealth Management
268 Elgin Way SE
Calgary, AB T2Z 4T4
M: (587) 707 – 9553
F: (587) 620 – 4726


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