The business owner or incorporated professional faces a world of complexity. Share structures, holding companies, individual pension plans, insurance contracts, and payrolls are some of the issues needing to be addressed.

In the midst of all these, the business owner or professional has to attend to their day job as well. Delivering value to your customers is more important today than ever before. Yet the complexity of your company’s financial affairs must be dealt with.

It’s a job that is impossible to do on your own, so you hire professional advisors. An accountant for your taxes and bookkeeping, a lawyer for your corporate and trust structures, an insurance agent for your protection and perhaps an investment advisor for your savings and cash holdings.

Communicating with these different professionals presents another challenge – how do you know that the advice you receive from these different channels is optimized across the different disciplines?

Recently, I spoke to a dentist who had her insurance agent approach her with the idea of setting up an individual pension plan. It sounded like a great opportunity to increase retirement savings and get more of the company earnings into her personal name. The only problem – her income is mostly in the form of dividends, limiting the amount that could go into the plan. She is left trying to decide between the two strategies, her agent and accountant await her decision.

This type of situation is not unusual. The business owner is, in effect, asked to become a part time expert in financial affairs rather than focussing on their core business.

The “Advice Integrator” is a communication tool designed to help you and your advisors create the optimal plan, given your circumstances and preferences. The “Advice Integrator” is a simple and effective communication tool that does not require you to sever your trusted professional relationships or spend hours becoming an expert.

If you are a business owner or incorporated professional interested in learning more about how this system works, why not attend one of our seminars.

March 26th: We will be hosting a lunch seminar (12:00 PM-1:15PM) and an afternoon session (5:00PM – 6:15PM).

Please contact Iain Davidson at 613-788-8012 or iain.davidson@RichardsonGMP.com to reserve your spot.

Alan MacDonald is an Investment Advisor with Richardson Partners Financial Ltd. Alan helps investors with over $500,000 of assets make smart decisions about money. For more information please visit alanmacdonald.ca or e-mail Alan at Alan.Macdonald@RichardsonGMP.com

Richardson Partners Financial Limited is a member of CIPF.

To read more Business Matters articles from Richardson Partners Financial Ltd, click on: http://www.ottawabusinessjournal.com/businessmatters5.php