Healthcare Professionals
 

Physician Medicine
professional
corporation
Medical
specialist
Incorporated
healthcare
consultant
Pharmacy
owner
Hospital advisory
board member
Biotech
entrepreneur
Professional
healthcare investor
Medical
device sales
Big pharma
executive

 

Advising healthcare professionals to achieve their financial goals

Like a good healthcare professional would do, we gather a complete history to diagnose a client’s financial health before beginning any financial planning or investing. Working with us, you will always understand the financial options available to you and will be well-informed when choosing the ones that best suit your life and practice or business. We help you achieve your financial vision by helping you accomplish these priorities:

  • Lower your tax bill
  • Incorporate
  • Cover your risks
  • Fund your kids’ education
  • Travel and other joys
  • Invest in healthcare innovation
  • Maximize your charitable support

It all begins with your personalized vision document. You tell us where you want to travel, how you see yourself living, and major expenditures you foresee down the road, and we will structure your investments to make it all happen. We keep our eyes on the markets, your portfolio and life or business changes that may impact your vision and keep you updated if adjustments are needed, while you enjoy the freedom to jet away or spend as you please.
 


Achieving your financial goals

Lower your tax bill

While healthcare business owners all share the desire to pay less tax, we assist each investor with personally-tailored solutions.

Recommending appropriate strategies to lower your tax bill, from your annual tax filing to sophisticated tax planning all starts with our financial discovery meeting. We know the latest tax strategies, take advantage of effective income splitting among family members, and invest tax efficiently to improve your long-term financial success in the context of your goals.

Working directly with your other advisors including lawyers and accountants to deliver integrated strategies is our goal. In addition, our service costs on your non-registered and corporate investment accounts are tax deductible.

 
Incorporate

To maximize your wealth and minimize tax, consider the benefits of incorporation. Certain businesses and professional practices can benefit from a very low tax rate on active business income up to the small business limit. This allows you to keep more of what you earn. In Ontario, the tax rate on the first $500,000 of active business income is 15%.

Save within your corporation. While saving income in your corporation defers tax, you can invest tax efficiently and grow your portfolio to the point of financial independence. This special opportunity to compound your investment returns while deferring tax should not be missed.

     
Cover your risks

Smart insurance strategies provide financially for your family in the worst case scenario. Protecting your income, assets and family through life insurance, disability, critical illness coverage will help you sleep at night knowing that your family will be provided for in the worst case scenario.

If you are incorporated, you can save money on insurance by owning policies through your corporation, even if you have Ontario Medical Association (OMA) group coverage. The cash you save stays in your corporation. Consider creating a health plan to make your family’s health/dental expenses deductible to the corporation.

 
Fund your kids’ education

Contributing early to an RESP can help make post-secondary education more affordable as tuition rates skyrocket and education becomes increasingly important for career development.

With more time for your money to grow, your contributions can be smaller and will maximize your children’s or grandchildren’s Canada Education Savings Grants (CESGs). Contributions are eligible to receive a CESG up to $500 of the first $2,500 contributed to the plan every year for each beneficiary under the age of 18.

     
Travel and other joys

You’ve worked hard and taken risks – you deserve a lifestyle that involves plenty of travel and the major purchases that make life amazing. We can help you plan to make sure that joy is always within your budget.

 
Invest in healthcare innovation

We are tapped into the latest research and development players in the healthcare sector, which is experiencing considerable growth and we believe will continue to do so in the coming years.

We can help you invest in healthcare and med-tech companies wisely in this exciting and quickly-emerging sector of the market.

     
Maximize your charitable support

Helping you give back to your community in a meaningful and sustainable way is a passion of Rosemary’s. We can help you support causes that matter to you in context of your comprehensive wealth management strategy.

Today, many families designate a portion of their wealth to charity while they are still living to witness the impact of their generosity and reap considerable tax benefits.

 

 

 

 

Community contribution

LSO  

Member of LSO, Life Science Ontario


 
   
Bloom Burton & Co.  

Sponsor of the Bloom Burton Healthcare Investor Conference 2016, 2017 and 2018


 
   
TWiST  

Speaker on Goals Based Finance for TWIST, Toronto Women in Science and Technology

 


Client service

Clients with $1 million or more in assets under management receive:
  • Service cost of 1% per year of assets under management
  • Goals and vision discovery
  • Lowering your tax bill
  • Personal risk analysis
  • Investing in your professional corporation
  • Roadmap to achieve your unique financial goals
  • Quarterly updates by email or phone and annual updates in person
  • Industry-leading investment choices, including new issues and private placements for accredited clients, best-of-the-best investments that we own ourselves;
  • Tax slip organization systems and an exhaustive list of tax slips documenting your assets at Richardson GMP
  • Referral services to respected advisors such as tax, legal, real estate, mortgage and insurance specialists
Additionally, clients with $10 million or more in assets under management receive:
  • Family members’ risk analysis
  • Monthly reporting on transactions and realized gain/loss reports to your tax advisor
  • Strategy calls as required with your tax and legal advisors
  • Family trust asset management
  • Income coordination for family members
  • Coordination of your tax installments and life insurance renewal
  • Group benefits consultation
  • Healthcare spending accounts (personal healthcare benefits plans whereby you pay for healthcare expenses using pre-tax dollars in your corporation)
  • Specialized strategies such as estate freezes, family trusts, and family trust asset management
  • Referral services to respected advisors such as tax accountants and legal advisors for medical professionals, private equity specialist, investment banker with expertise in healthcare, and group benefits specialist

Pinal Gadhvi    Andrea Ivasecko   Rosemary Horwood John Horwood Jason Middleton

 

Contact us to discuss how we can advise you to achieve your goals.