Client story
Daniel

Daniel is a senior vice president with one of Canada’s largest mining companies, overseeing operations in Canada and Latin America. His wife, Denise, runs her own interior design consulting company and together they have one daughter in high school. The family also owns an investment property in Chile. Daniel has achieved global success, so he needs a plan that can manage the complexities of his current lifestyle and future goals.

  • AGE 
    58 years old

  • FAMILY 
    married, one daughter age 16

  • BUSINESS 
    peak earning years

  • UNIQUE LIFESTAGE
    key need – maximizing investment growth

  • How we structured Daniel's wealth

    Scotia Wealth Management worked with Daniel to create a financial plan that considered his investment preferences, his wife’s independent business needs, his daughter’s education plans and his retirement goals as part of one comprehensive plan including:

    Investment Management

    Discretionary investment management allows Daniel to spend more of his limited free-time with his family and his community. Working with a Private Investment Counsel Portfolio Manager, Daniel was able to provide oversight on how he wanted his portfolio managed, while delegating the day-to-day investment decisions to the professionals.

    Income Splitting

    Working with Daniel’s external tax professionals, Daniel’s Portfolio Manager and Senior Financial Planning Consultant helped identify income-splitting tax strategies that could help the couple build more tax-efficient retirement savings and income streams by lowering the family’s current and future tax burden.

    International Banking

    To help Daniel make the most of his business visits to Latin American countries, Private Banking specialists identified premier international credit card and banking services that could help lower Daniel’s service costs, save time and provide added financial security.

    Private Banking Solutions

    As a senior executive, Daniel has a large, concentrated holding in his company’s stock. Daniel’s Private Banker put together a customized credit solution that was secured by Daniel’s concentrated investment holdings. As a result, Daniel was able to use borrowed funds to diversify his portfolio and pursue other investment opportunities.

    Education Savings

    Daniel’s Portfolio Manager and banking professionals maximized the existing Registered Education Savings Plan (RESP), which enables him to build tax-efficient savings for his daughter’s post-secondary education.

    Insurance

    As part of their regular portfolio review process, Daniel’s Portfolio Manager worked with an Insurance Consultant to implement tax-efficient insurance strategies to help Daniel reduce tax liabilities today, thereby preserving the overall estate he leaves to his family.

    Contact us to learn more how these services can be customized for your financial goals.

    Others we've helped

    David

    David recently retired from his position as senior partner at the largest law firm in Montreal.

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    Lisa

    Lisa and her husband Dan run a successful retail clothing business, with a chain of 7 stores across Canada

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    James

    Over a period of 40 years, James and his wife Debbie built a business empire. He is looking to retire, transferring ownership of the business to a son.

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