Business Owners

1. Protecting what you’ve built — planning for unanticipated events in & out of the business
2. Growing your wealth tax-efficiently — being deliberate & prudent with the retained earnings inside your corporation
3. Planning for what’s next — transferring assets out of the business in a tax-efficient way

Integrating Corporate & Personal Planning

Making the right financial decisions means looking beyond tax alone. We help you coordinate your corporate and personal finances so everything works together – not in isolation.

Safeguarding the Business

Whether you are the sole owner or you have business partners, we help put contingencies in place for the “what ifs.” This means protecting the business & your loved ones by not allowing an event that can be planned for to derail everything being built.

Guidance on the Corporation’s Retained Earnings

Successful business owners can find themselves with a tax problem: take extra money out of the corporation and pay high personal tax rates; or, leave money within the corporation for investment, but pay high passive income tax rates and risk losing the small business deduction. We help our clients accumulate wealth within the corporation on a tax-efficient basis.

The Next Phase

For many business owners, their pension will be the assets in the business or holding company. We help you move wealth out of the corporation in a way that supports your lifestyle and minimizes unnecessary tax. We analyze and advise on different scenarios for funding retirement and legacy planning objectives.

Financial Planning for Business Owners

We offer fee-for-service financial planning for business owners. Planning work starts at $1,125 and will ultimately be based on the complexity of the client’s situation. We provide fully transparent pricing prior to commencing any billable work. Under unique circumstances, we may accommodate consultations at a one-hour minimum (our hourly rate is currently $225).

Investments

For clients who want investing help, we offer two options:

1. A one-time investment plan, most popular with D.I.Y. investors who want to ensure their strategy is appropriate. This starts at $1,125.
2. Holistic investment management, including setup, administration, ongoing review and servicing. Fees for this option can be found HERE.

Life & Health Insurance

For clients who require insurance and want us to facilitate it, we are compensated in the form of a sales commission directly from the insurance company for which we place our client’s business with.  There is no exchange of funds between the client and First Oak Financial as it pertains to the sale of a life or health insurance policy. The commission we receive does not impact our insurance recommendations whatsoever – we have a fiduciary duty to act in the client’s best interest and we strictly adhere to that.

On occasion, we will make recommendations that involve complex legal and tax matters. In those instances, we will work with your professional advisors to ensure all parties are on the same page and working as a cohesive unit.

We can introduce you to accountants and lawyers who specialize in this field, if needed.