Skip to Main Content
  • CIBC.com
  • CIBC Private Wealth
  • CIBC Websites
Client Login
  • Home
  • About us
  • Services
  • Market insights
  • Community
  • Contact
  • Blog
  • Contact us
  • CIBC.com
  • CIBC Private Wealth
  • CIBC Websites
  • Client Login
 CIBC Private Wealth, Wood Gundy  CIBC Private Wealth, Wood Gundy

Moira Tasker

  • Home
  • About us
  • Services
  • Market insights
  • Community
  • Contact
  • Blog

Article

Address 123 Commerce Valley Drive East Suite 100 Thornhill ON, L3T 7W8
Telephone Number (905) 762-2317
Email Email us
Email Email
Telephone Number Tel

The 1-2-3s of proactive planning

CIBC Private Wealth

July 16, 2020

Facebook
LinkedIn
Twitter
Clipboard with checklist

The 1-2-3s of proactive planning

 

The COVID-19 pandemic has led many of us to manage our professional and personal lives differently, and adjust our short- and long-term plans. With ongoing market ups and downs and the potential for a recession, it’s easy to lose sight of the bigger picture. That’s why it’s more important than ever to take a proactive and holistic approach to protecting, managing and growing your wealth.

Here are five key elements to keep in mind as we build and manage your wealth plan together.

Cash flow management is important as it can impact your financial flexibility. Consider income, expenses, debt servicing and government relief programs in your personal and business plan.

  • When thinking about your sources of income, expenses and use of cash, how are you faring in the current environment?
  • How do you see your cash flow changing in the coming months?
  • How are you, your family and business maximizing the tax and financial relief programs available as a result of COVID-19?

Including risk management in your wealth plan means reviewing your asset ownership and portfolio structure, considering diversification and managing income interruption. Questions to ask yourself:

  • How is your portfolio diversified and managed across asset classes to optimize return and mitigate risk?
  • What kind of protection planning strategies do you have in place (e.g. emergency funds, access to credit for liquidity, life and health insurance)?

Wealth optimization looks at savings, investment and tax strategies. Consider:

  • What is the targeted rate of return for your portfolio?
  • Is your strategic savings and investment plan on track to meet your short- and long-term goals?
  • What strategies are you currently using to maximize after-tax returns, and to manage and finance tax liabilities?

Estate planning allows you to make arrangements to help protect your family and wealth in the event of incapacity or death. Here are some things to think about.

  • How have the past few months impacted your views on:
    • Incapacity and financial or health care decisions
    • Provisions in your will or trusts
  • What changes do you feel are necessary to carry out your intentions?

Legacy planning outlines how you’d like to share your wealth with future generations and your philanthropic efforts. Consider these questions:

  • How prepared are you to help your family with their current and future needs?
  • How ready are your beneficiaries to inherit?
  • What have they experienced financially and professionally in the last few months?
  • Which charitable causes are most important to you and your family?

Taking the right action today can help prepare your loved ones for the future. Contact us if you’d like to discuss your wealth plan, and your short- and long-term goals. We look forward to connecting with you.

Please consult your personal tax advisor, accountant, licensed insurance professional and qualified legal advisor to obtain specialized advice tailored to your needs. Insurance services are available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are available through CIBC Wood Gundy Financial Services (Quebec) Inc.

Related posts

CIBC Private Wealth

July 16, 2020

Working at a desk in the home office

Creating a home sweet home office

Try these design tips for your home workspace to boost productivity.

Read more

CIBC Private Wealth

July 16, 2020

People looking at a landscape

You’ve got the power

Keep these things in mind when creating a power of attorney.

Read more
 
 
  • Rates
  • FAQ
  • Agreements
  • Trademarks & Disclaimers
  • Privacy & Security
  • CIRO AdvisorReport
  • Accessibility at CIBC
  • Manage Cookie Preferences
  • Cookie Policy
 Canadian Investment Regulatory Organization  Canadian Investor Protection Fund

CIBC Private Wealth” consists of services provided by CIBC and certain of its subsidiaries through CIBC Private Banking; CIBC Private Investment Counsel, a division of CIBC Asset Management Inc. (“CAM”); CIBC Trust Corporation; and CIBC Wood Gundy, a division of CIBC World Markets Inc. (“WMI”). CIBC Private Banking provides solutions from CIBC Investor Services Inc. (“ISI”), CAM and credit products. CIBC Private Wealth services are available to qualified individuals. Insurance services are only available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are only available through CIBC Wood Gundy Financial Services (Quebec) Inc.


CIBC Private Wealth services are available to qualified individuals. The CIBC logo and “CIBC Private Wealth” are trademarks of CIBC, used under license.