High Net Worth Canada

Canada's high net worth individuals are worth a total of $1,597 billion putting the country in seventh place globally. IFA.tax preserves that wealth.

High Net Worth Canada

While “wealth” is a relative and extremely subjective term, including much more aspects than financial assets, a high-net-worth investor is defined as someone who has more than $1 million of financial assets (i.e. omitting real estate, private business interests or antiques).

Canadians are getting richer

Canadians are getting richer thanks to their extraordinarily strong housing market and social system of governance. With stronger governance comes better-handled banks. A wider tax web likewise assists ensure that a country is more joined.

Opportunities & Expectations

The High Net Worth Individuals (HNWI) population in Canada is a growth story, and it is likewise becoming significantly complicated in terms of the wealth-management needs and expectations of its members.


  • The Canadian HNWI market is growing much faster than any other retail segment.
  • Retirees and business owners make up the 2 largest groups within the segment.
  • The segment’s typical age is just listed below the regular retirement age of 65.
  • Advisors must concentrate on the financial and way of life needs of the family, not the individual.
  • The segment growth is being fueled by liquidity events, inheritances, and lump-sum employment income.
  • The emphasis of advisors must be extended beyond investments to consist of the balance sheet, capital, danger management, tax preparation, and estate preparation needs of the customer household.
  • The requirements of HNWI clients end up being more intricate as their wealth increases.
  • Capital conservation, limited volatility, and income generation are the main investment objectives of HNWI financiers.
  • HNWI households are demanding ever-increasing proficiency and commitment from consultants.
  • The difference between the numerous advisory channels serving the needs of the HNWI segment is becoming blurred.

Life Insurance

Insurance coverage is a tax-efficient way to make sure wealth is passed from the estate to beneficiaries. That’s why HNW individuals often depend on insurance to hand down wealth even more than average Canadians. The secret is to decrease the financial impact and transfer as much cash as possible in a planned and structured method.

Tax-efficient techniques for high-net-worth households

Planning is necessary for HNWI investors. Here’s how tax and insurance methods can guarantee your wealth is preserved for future generations.

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

Canada is 7th in the world for HNWIs

The finance, financial investment, and banking sector take the lion’s share of main industry investment (13%) followed by manufacturing (11%), and technology (7%). 83% of the HNWIs are self-made and have an average age of 58 years. Men continue to hold the majority of wealth amongst HNWIs at 84%.

Canadians have good debt

Canadian household debt runs approximately 160% of disposable income, among the countries worldwide. The debt is mainly residential mortgage debt which has actually been increasing in a relatively steady fashion for well over a decade.

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