Very High Net Worth Individuals clientele of very-high-net-worth individuals (VHNWI) with at least $5 million in liquid financial assets are looking for growth opportunities, alongside preserving their wealth and optimizing their tax liabilities.

Very High Net Worth Individuals

A very-high-net-worth individual is generally somebody with a minimum of $5 million in cash or assets that can easily be converted into money. The VHNWI term is mostly utilized by the financial services industry to designate their wealthiest customers for unique services. This means money you have at hand or assets you can easily cost money with little or no diminishment of its value.

Assets 5+ Million

If you`re attempting to see if you’re a Very High Net Worth Individual, you can normally count the following liquid assets:

  • Checking accounts
  • Cost savings accounts
  • Cash market accounts
  • Stocks
  • Bonds
  • Mutual Fund shares

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

Tax-efficient strategies for very-high-net-worth families

Preparation is essential for VHNWI investors. Here`s how tax and insurance coverage techniques can guarantee your wealth is preserved for future generations.

High net worth individuals face various set of financial challenges and chances than the majority of other Canadians. Normally, their issues are less about funding their way of life in retirement and more about how to safeguard and grow their wealth and pass it on to the next generation.

Life Insurance

Insurance coverage is a tax-efficient method to make sure wealth is passed from the estate to successors. That`s why HNW individuals often depend on insurance to hand down wealth even more than typical Canadians. The secret is to reduce the fiscal effect and transfer as much cash as possible in a structured and organized way.

Insurance Carriers

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

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