High Net Worth Individuals

IFA.tax clientele consists of high-net-worth individuals (HNWI) with at least $1 million in liquid financial assets.

High Net Worth Individuals

A high-net-worth individual is generally someone with at least $1 million in cash or assets that can easily be converted into cash. The HNWI term is mainly used by the financial services industry to designate their richest customers for special services.This means money you have at hand or assets you can easily cost money with little or no diminishment of its worth.

Assets

If you’re trying to see if you’re an HNWI, you can normally count the following liquid assets:

  • Chequing accounts
  • Savings accounts
  • Money market accounts
  • Stocks
  • Bonds
  • Mutual Fund shares

Real Estate Investments and Land are not factored in as they are harder to liquidate.

Tax-efficient techniques for high-net-worth families

Planning is necessary for HNWI. Here`s how tax and insurance strategies can ensure your wealth is protected for future generations.

High net worth individuals face a different set of financial obstacles and chances than many other Canadians. Usually, their concerns are less about moneying their lifestyle in retirement and more about how to protect and grow their wealth and pass it on to the next generation.

Life Insurance

Insurance is a tax-efficient way to guarantee wealth is passed from the estate to beneficiaries. That`s why HNW individuals often count on insurance to hand down wealth much more than average Canadians. The key is to decrease the fiscal effect and transfer as much money as possible in a planned and structured method.

Insurance Carriers

  • Manulife Financial
  • Canada Life
  • Sun Life
  • RBC Insurance
  • BMO Insurance
  • Canada Protection Plan (CPP)
  • Industrial Alliance
  • Ivari
  • Equitable Life
  • Empire Life

Terms of Use | Privacy Policy

Share This