Healthcare Professionals

Healthcare professionals often end up juggling a number of complex wealth planning priorities as they establish their careers. These may include funding your education, establishing yourself as a full-time practitioner, repaying student or business debt, buying a business, deciding how best to structure your practice, creditor and liability protection, purchasing a primary or secondary residence, saving for your children’s education and your own retirement, and much more. Addressing each of these items as part of a holistic wealth management plan is a crucial step to ensuring your family’s long-term financial wellbeing.

The Waterfront Group’s extensive experience in working with healthcare professionals and their families will help you establish a comprehensive plan so that you can enjoy all of life’s possibilities. We look at your complete financial picture, providing the support you need for your individual situation. Here are a few areas where we can help:

Minimizing Taxes

Like many successful professionals, doctors, dentists, pharmacists and other healthcare providers often share a desire to pay less tax. A tax-efficient investment strategy can help to optimize your overall wealth picture, allowing you to invest in your career and practice today while planning for the future.

Working closely with your other trusted advisors, including tax advisors and lawyers, we assist each client with personally tailored solutions, recommending appropriate investment strategies to help minimize their overall tax bill.

Investing In a Corporation

It’s not how much you make…it’s how much you keep! Establishing a corporation can help you to achieve this outcome. We select tax-efficient investments that are designed to minimize taxes while producing returns that are aligned with your investment goals.

While accumulating wealth inside your corporation may defer tax in the near term, our investment strategies can help you to achieve financial independence over the long run. The importance of compounding investment returns while seeking to defer tax is an opportunity that should not be overlooked.

White Glove Service - Retirement Planning

Leveraging our wealth management expertise can help you to achieve your life goals. Our thorough discovery process focuses first on understanding what is uniquely important to you, then on understanding your retirement goals.

Planning for retirement can certainly be a financial endeavour unto itself. However, there’s also an important psychological component to this transition. Whether you are pre-planning for the big day or planning for new adventures in retirement, we’ll make sure our process incorporates your personal vision of the future, and that all options and recommendations are clearly presented to you every step of the way.

Covering Your Risks

Everything is fine until it’s not. While it may seem obvious, many people fail to proactively plan for unexpected events. Rather, they react to negative situations, an approach that can produce suboptimal results. A comprehensive insurance strategy will provide both you and your family with welcome peace-of-mind.

We ensure that your life insurance coverage is both adequate and efficient within the context of your overall financial strategy. In the event of your untimely death, for example, a properly structured life insurance strategy will replace your family’s income, protect their assets, and cover any tax liabilities and debt obligations. Even if you already have group coverage through your professional association, you could save money on life and disability insurance by holding these policies inside your corporation.

Enjoying the “Good Life” and Retirement

You’ve worked hard, you’ve enjoyed a fulfilling professional practice, and you have followed our plan to help you achieve success and independence. Now it’s time to enjoy the next chapter of your life…retirement! You deserve the lifestyle that you’ve envisioned – whether that includes traveling the world, owning a vacation property, gifting wealth to your loved ones, or simply making a few major purchases.

Whether retirement is around the corner or still several years away, we’ll be here to make sure that you enjoy the benefits of your life’s work and to ensure that your customized wealth plan allows you to enjoy all of the things that you want to do.

Client Service Offering

Families with $1 million or more in assets under management receive:

Service cost of 1% per year of assets under management.
Customized Financial Plan
Tax-efficient investments
Personal risk analysis (Estate Planning)
Semi-annual updates in person
Integrated investment management in line with our Wealth Investment Philosophy
Currency exchange at discounted rates
Industry-leading investment choices, including new issues, private placements, accredited investor funds and alternative investments such as mortgage pools, apartment buildings and student housing investments just to name a few.
Annual tax reporting package sent directly to your tax advisor
Executor education and handbook
Estate management
Educational seminars
Referral services to respected advisors such as tax accountants, legal advisors, real estate professionals, private equity specialists and private banking services.

Families with $10 million or more in assets under management additionally receive:

Quarterly updates in person
Monthly reporting on transactions and realized gain/loss reports to your tax advisor
24hr access to the team
Income coordination for family members
Coordination of your tax installments and registered plan contributions
Insurance renewals annually
Coordination of annual minimum distribution for family foundations