Tax & Estate planning for Business Owners and Professionals

In a world where economic uncertainties multiply every year, especially for individuals, professionals and entrepreneurs, it has become imperative to plan properly and provide adequately for the future. The Indo-Canada Chamber of Commerce (ICCC) collaborated with the Investors Group to bring to its members an introduction to investing, planning and wealth creation.

In their joint presentation Mr. Ketu Bhatt, Mr. Peter Piccioni and Mr. Naresh Sharma of the Investors Group focussed on how to maximize the retirement pay cheque, strategies for retirement planning, factors that affect the retirement paycheque, minimize taxes/tax minimization strategies, investment strategies/wealth generation strategies, benefits of incorporation – salary/dividend mix, how it can affect individual pension plan – IPP, leveraged investments –  concepts, insurance for risk management and for wealth generation and transfer.

Mr. Ketu Bhatt is an MBA (Distinction) with majors in Finance from France. He has been a top performer at IG and has won various awards. He has worked at senior level positions for managing private equity funds, financing, managing and implementation of high end real estate projects including five star hotels, luxury retail malls and residences.

Mr. Peter Piccioni is a Division Director with over 30 years in the financial services industry assisting Professionals and Small Business Owners preserve capital, reduce taxation, and risk management. We design a plan that provides our clients with solutions.

Mr. Naresh Sharma is serving as a regional director with Investors Group since 2009. He is a division director TOP Award winner in 2005 and 2006, which is awarded to the top 24 Directors in the country for their excellence in leading and building a team of financial planners. He has served as Vice-Chair in Vaughan Chamber Of Commerce.

The seminar discussed tax and retirement planning, business succession planning and estate planning, and the subject was ‘Learn how to increase your retirement paycheque’. The basic premise of the program was that everyone needs to prepare for retirement, no exceptions.

The speakers introduced the participants to the six pillars of financial planning. These are:

• Maximizing Cash Flow
• Building Your portfolio
• Managing Taxes
• Lifestyle Insurance-Risk Management
• Retirement Planning/Readiness
• Leaving a Tax Efficient Legacy

The speakers spoke about investment strategies for all occasions, including:

• Keep emotions in check: Constant switching during periods of market uncertainty, between any investments is a gamble
• Focus on the long term: Volatility decreases significantly with time
• Diversify your portfolio and focus on asset allocation
• Shut out the “market noise”- News reports are short term in nature and generally have no bearing on a long term investment plan
• Take advantage of dollar cost averaging – Investing at regular intervals regardless of market conditions can lower the average cost of investments
• Rebalance, track and monitor your portfolio mix regularly: Optimal portfolio is based on your situation, need for income/growth, time horizon and risk tolerance

Mr. Jagdish Bajaj, Vice President Events & Programs introduced the speakers to the audience.