Wealth and Financial Planning Archives - Page 2 of 3

The Bridgewell Sessions Vol. 2 — Meet our panel of business succession specialists

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

Most entrepreneurs dream of founding, operating and growing a thriving business. Few will ever produce a start-up plan that accounts for their eventual exit. That’s because business succession planning is often de-emphasized or overlooked when day-to-day operations and expansion are a leader’s top priority. A better approach is to plan ahead, building your business on …

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Structuring shareholder agreements: Lessons from the Rogers family feud

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

The highly-analyzed saga of the Rogers family has taught us more than a few lessons about business succession, family governance—especially when large sums of wealth are involved—and the need to carefully envision the future you want for your family once the main wealth builder passes on. But it’s also a clear lesson in the importance …

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A focus on financial wellness: One reason why family businesses outperform

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

If there was an uplifting business story that emerged from the coronavirus pandemic—and despite the often dire headlines, there were many—it was the relatively strong performance of family businesses in Canada. While they were dealt an immediate financial blow as the COVID-19 crisis took hold and social distancing restrictions impacted organizations across sectors, their resiliency …

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Why now is the perfect time for a financial wellness re-set

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

There comes a point during any lengthy period of adversity when the most immediate challenges begin to subside and we get a chance to step back, re-assess the situation and take stock of all that’s just unfolded. Like the fourth wave of a major global pandemic, for example. This economic, public health, financial and social …

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Business succession: How to position your company for a sale

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

It’s a special day when an entrepreneur achieves their lifelong dream: transitioning to the next phase in life by making a financially-beneficial exit from their company. For most, achieving that goal will take a great deal of hard work and business succession planning. While we’re conditioned by media reports to believe that billion-dollar business sales …

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The family side of business succession

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

As noted in the first blog in this series, it takes a deliberate effort to plot out a business succession strategy. Transitioning out of your company and moving on to the next phase of life—whatever that may entail—requires balancing a number of family, financial and strategic considerations. While there are many ways to approach the …

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The surprising complexity of business succession

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

For business owners, one of the keys to achieving long-term financial wellness is to develop a plan that allows them to eventually leave their business behind and retire—or transition to the next phase of their always-busy lives. Because entrepreneurs typically lack any kind of formal pension, their corporation and personal assets are their golden-year nest …

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What we can learn about financial goal-setting from the seat of a canoe

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

One of the many joys of summer is the opportunity to get up close and personal with nature. That could mean weekend cottage visits, camping trips or vacations to some pristine destination across Canada. The chance to unwind, relax and rebalance is a key part of promoting well-being before we dive head-long back into work …

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Family cottage succession: Key tax and legal considerations

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

As we noted in our last blog on the many emotional aspects of owning a family cottage, issues such as property usage or joint ownership need to be carefully managed to prevent your dream getaway from turning into a source of inter-family squabbles. But what about the tax and legal implications of owning a vacation …

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Developing a plan for the most emotionally-charged asset you’ll ever own: the family cottage

Leave a Comment / Wealth and Financial Planning / By Bridgewell Financial

In the first of this two-part blog, we look at the emotional aspects of managing a family cottage—and the importance of developing a plan to help address issues proactively before they create avoidable financial and family governance challenges. The Victoria Day long weekend is more than a statutory holiday across much of the country—it’s the …

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