We specialize in Risk Management solutions for our business clients. Whether it be funding a Buy Sell Agreement, Business Succession, or implementing Employee Benefit programs, we have custom strategies for each unique enterprise.
We employ mutli-step Financial Analysis and disclosure so as to ensure the best solutions short and long term, and build in the flexibility required as your needs change over time.
We consult with your accountants and/or lawyers to ensure our work fits in with all of your financial affairs.
A significant concern for business owners is how to buy out their Partner or other Shareholders should he or she pass away or become disabled. What if they can no longer contribute to the business? Where will the money come from to buy them out?
There are 3 components to a properly structured Buy Sell Agreement:
As Risk Managers we deal with the Death or Disability of a Shareholder or Partner. We complete a full Financial Analysis to determine the best solution(s) to address this concern.
Many businesses have a key person who is responsible for the majority of profits, or has a unique and hard to replace skill set such as Intellectual Property that is vital to the organization.
What would happen to your business if they died or became permanently disabled? How would this affect revenues and profits, or the ability to retain and attract new clients?
Employers often use Group Insurance Benefits to attract and retain quality employees. These may include:
As a Group Benefits broker we can shop the market so as to offer the best plans at the best price, allowing us to tailor make benefit programs for small and large companies.
We can also create the most unique and custom plans in the market: a way for businesses to effectively become their own insurance provider. The world of benefits has changed significantly in recent years, and there are a lot of cost effective alternatives to traditional insurance plans.
We tailor make programs based on the values and beliefs of each individual employer.
For many employers a very effective way to attract and retain long term employees is to supplement their retirement planning. The 2 most common tools are:
Depending on your employment agreement or company structure, we can put together a plan that will be most beneficial for you and your staff.
You’ve spent years creating and building your business empire. How do you ensure it will survive to the next generation?
According to a 2006 Canadian Federation of Independent Business survey, slightly more than one third of independent business owners plan to exit their business within the next 5 years, and within the next 10 years, two-thirds of owners plan to exit their business. The survey also found that small and medium sized enterprises are not adequately prepared for their business succession: only 10% of owners have a formal, written succession plan; 38% have an informal, unwritten plan; and the remaining 52% do not have any succession plan at all. The results are backed by a 2004 CIBC survey which suggests that succession planning is increasingly becoming a critical issue. By 2010, CIBC estimates that $1.2 trillion in business assets are poised to change hands.
It is important that the succession planning process is started early because it takes time. Some business owners delay the process because they think they are too busy or feel that it is too costly. Other business owners are unaware that there is even a problem. Succession planning may also be avoided or delayed because of the potential for emotional issues, such as facing retirement/mortality, dealing with family conflict, and the feeling of losing control.
It is common place for lending institutions to require insurance protection on mortgages, loans and credit lines. As an Insurance Brokerage we can ensure you are getting the right plans at the right price.
Depending on the conditions of the loan, you may also be able to write off the insurance premiums as a business expense.
