Pyle Wealth Advisory
Many Canadians, whether working or retired, have less time to spend focusing on building and protecting their capital. At Pyle Wealth Advisory we are dedicated to managing and protecting your financial future.
Acting as your personal CFO we ensure that your investment strategy reinforces your financial planning objectives.
The sources of your wealth are varied. It may have originated from personal savings, a business or an inheritance. There are many ways in which you can grow your wealth. Our wide breadth of knowledge and expertise will assist you in making investment decisions that are appropriate for your stage in life, your goals and your tolerance for risk.
Whatever your situation, our team will help enhance your growth by:
You spend so much time focusing on careers, business and building your capital that you may neglect to notice how well protected you and your investments truly are. Changes in your health, premature death, volatile markets, inflation, and even the future cost of long-term care all represent threats to your wealth and to those around you.
At Pyle Wealth Advisory, we are dedicated to protecting your financial future. A financial plan is the first key step in organizing your finances and making sure you’re on track to meeting your investment and lifestyle objectives. A properly developed financial plan can help you set your priorities and allocate your funds accordingly.
Even though self-employed individuals have had the ability to incorporate for a number of years we find that many still do not know that they can create their own defined benefit pension plans now – something they couldn’t do before. Essentially an Individual Pension Plan (IPP) works like any other defined benefit plan in that the corporation provides the funding necessary to generate a specific income flow at retirement.
At Pyle Wealth Advisory we will generate a concept showing a comparison between continued RRSP funding and an IPP and discuss those results with you and your accountant to ensure the strategy makes sense. Benefits of an IPP include:
Pension regulations require an IPP to show average annual returns of at least 7.5%. Any shortfall, however, will be made up by additional tax-deductible contributions by the corporation. Since many professionals will typically have conservative investment strategies, this makes it more likely that the corporation will have an increased opportunity to put even more capital into the IPP where it will claim a deduction and not be taxed on income from that capital.
The planning we do today will ensure that your accumulated assets pass to those you cherish with the least amount of tax possible. While you save for retirement, the sooner you start thinking about your estate planning objectives the better. What is needed is a true team approach; from insurance strategies to create an estate or defray capital gains taxes, to preparing for cottage succession and passing along the family business.
The Pyle team utilizes Wood Gundy’s entire suite of wealth specialists in areas of estate, insurance and tax-efficient strategies. Working together with your own accountants and lawyers, we ensure your estate plan is comprehensive, efficient and does what you intend it to do.
One of the key questions you are asked when determining your risk tolerance is whether or not you might have any specific estate or charitable giving goals in mind. These aspirations will likely include your family and friends, as well as local associations, national charities and even global agencies. The more thought you put into your estate plan and philanthropic legacy, and the sooner you do so, the better will be the outcome. Our team is here to guide you through with an extensive team of experts in areas of financial planning, tax strategy, insurance, and philanthropic advice.
