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CIBC Private Wealth, Wood Gundy CIBC Private Wealth, Wood Gundy

Kara Baker, MBA, CFP®, CIM®, CPA

  • Home
  • About Us
    • Meet Kara
    • Our Associate Team
    • Our Partners
    • What Makes Us Different
  • Our Services
    • Retirement
    • Business Succession
    • Divorce or Loss
    • Executives and Professionals
    • Sudden Wealth
  • Resources
    • Market Insights
    • Articles of Interest
  • Contact

Executives and Professionals

Executives and Professionals

Doctors

kara.baker@cibc.com | LinkedIn | CFP® Profile

Kara Baker provides wealth management and tax-efficient investment planning for professionals in Lethbridge and Alberta


Are you a doctor, dentist, lawyer, engineer, or executive in Lethbridge or Alberta seeking financial advice?

Over the years, I’ve had the privilege of working closely with many professionals just like you—listening to your goals, understanding your challenges, and helping you navigate important financial decisions.

As a high-income earner, you face unique opportunities and questions around tax planning, investment management, and protecting your assets. My goal is to help you maximize your wealth, minimize taxes, and feel confident about your financial future.

Considerations for High-Income Earners in Alberta

Lethbridge and Alberta professionals—from physicians and dentists to executives—often pay a significant portion of their income in taxes. Without proactive planning, much of your wealth can be lost. Our team specializes in tax-efficient investment strategies for doctors, dentists, and executives that are tailored to Alberta’s unique tax landscape.

Tax Minimization Strategies

  • Registered Accounts: Maximize your TFSA, RRSP, and RESP contributions for tax-sheltered growth.
  • Income Splitting: Transfer income to a spouse or family members to reduce your overall tax burden.
  • Tax-Efficient Investments: Explore flow-through shares and leverage the Canadian Dividend Tax Credit for optimal returns.
  • Incorporation for Doctors and Dentists: Use a professional corporation to structure salary vs. dividends and unlock advanced tax planning.
  • Family Trusts: Protect assets, facilitate wealth transfer, and manage income distribution efficiently.

Specialized Financial Planning for Executives

  • Executive Compensation Planning: Maximize the value of stock-based and deferred compensation.
  • Managing Concentrated Holdings: Advice on diversifying your portfolio and reducing exposure to employer stock.
  • Asset Protection: Safeguard your wealth from market fluctuations and employer-specific risks.
  • Career Transition Support: Adaptive financial planning for fast-moving career opportunities in Alberta.

Our Lethbridge wealth management team simplifies executive compensation planning and delivers actionable strategies.

Considerations for Incorporated Professionals

  • Professional Corporation Tax Planning: Optimize the mix of salary and dividends for tax efficiency.
  • Corporate Investment Strategies: Align your corporation’s investments with your retirement and personal financial goals.
  • Income Splitting for Professionals: Potential use of family members to reduce your overall tax exposure.
  • Retirement Planning for Dentists and Doctors: Coordinate corporate and personal savings to maximize after-tax retirement income.

Our advisors provide guidance on managing your professional corporation and building a robust retirement plan.

Professionals

Serving Lethbridge and Alberta’s Elite Professionals

We understand the needs of high-income earners in Lethbridge and Alberta, including doctors, dentists, lawyers, engineers, and executives. We can assist you with strategies tailored to Alberta’s tax laws and economic landscape.



Ready to Optimize Your Wealth?

Contact our Lethbridge financial advisors today for a confidential consultation. Discover how our personalized approach can help you with tax-efficient investment strategies, grow your investments, and secure your financial future.

Contact Kara Baker, CIBC Wood Gundy Lethbridge
403-382-2025
Kara.Baker@cibc.com to schedule a consultation.

Frequently Asked Questions for Alberta’s High-Income Professionals

What are the main tax-saving strategies for doctors and dentists in Alberta?

  • Some key strategies include income splitting with family, maximizing RRSP/TFSA contributions, incorporating your practice, and investing in tax-efficient vehicles like flow-through shares and Canadian Dividend Tax Credit eligible investments.

Should I take salary or dividends from my professional corporation?

  • The optimal mix depends on your income level, retirement goals, and family situation. Dividends can offer tax advantages, but salary is necessary for RRSP contributions. We provide tailored advice based on your circumstances.

How can a family trust help me as a high-income earner?

  • A family trust can help with the distribution of income to lower-income family members, reduce taxes, protect assets, and facilitate wealth transfer.

What are the benefits of incorporating my medical or dental practice?

  • Incorporation potentially offers the options to defer taxes, split income, invest through your corporation, and protect personal assets.

How do I coordinate my corporate and personal retirement savings?

  • It’s important to balance corporate investments with personal retirement accounts (RRSP, TFSA) for optimal after-tax income in retirement. We help develop a coordinated strategy.

What should executives in Alberta consider for their compensation packages?

  • Some of the considerations for Executives are to seek advice on managing stock options, deferred compensation, concentrated holdings, and timing for diversification. We offer specialized planning for executive compensation.

How can I get started with your wealth management services?

  • Contact us for a confidential consultation. We’ll assess your needs and develop a personalized plan, to help you minimize taxes and grow your wealth.
<p><span style="font-size:8.0pt"><span style="line-height:115%"><span style="color:#606366">This commentary is intended to provide general information and should not be construed as financial, legal, tax or other advice. Individual circumstances and current events are critical to sound planning; anyone wishing to act on the information presented should consult with his or her financial advisor, legal or tax specialist.</span></span></span></p>
 
 
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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.


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