iA Securities & HollisWealth* are now iA Private Wealth

We are excited to introduce our new company name, iA Private Wealth. The new name is designed to better reflect the essence of what our advisors do – provide holistic wealth management solutions tailored to the unique needs and goals of investors across Canada.

Please take a few moments to browse our newly redesigned and updated website to learn about the many benefits of working with an iA Private Wealth Investment Advisor.

*Refers solely to the Investment Industry Regulatory Organization of Canada licensed advisors within HollisWealth.

Your Wealth, Our Passion

Building, growing and preserving wealth takes planning and a comprehensive, holistic vision. When you work with an iA Private Wealth Investment Advisor, you have a trusted partner who is fully dedicated to your success at every stage of your lifelong financial journey.

Holistic planning for every facet of your life

We believe comprehensive personal wealth planning, supported by unbiased advice, collaboration and transparency, is the key to meeting your needs and helping you achieve your goals. Our advisors focus on six main priorities to create a plan that’s tailored to you:

Investing

A proven wealth management philosophy is one that takes emotion out of the equation and relies on a disciplined, long-term approach. Your objectives, risk tolerance, return expectations and time horizon will be the key factors your Investment Advisor takes into account in designing a plan that can help meet your retirement and other goals.

Saving & borrowing

Your Investment Advisor will help you set and achieve saving goals aligned with your needs and objectives, and develop a borrowing and debt management strategy for your unique circumstances.

Education planning

Whether you’re looking to fund a child’s education or returning to school to upgrade your credentials, your Investment Advisor can help you understand your options and maximize the value of a Registered Education Savings Plan (RESP).

Tax planning

Your Investment Advisor will conduct a thorough assessment of your circumstances to determine the most tax-efficient way of building your portfolio.

Risk management

Your Investment Advisor will develop a risk management plan that addresses the full range of factors that could affect your financial well‑being.

Will & estate planning

To plan for the preservation and transfer of your assets, your Investment Advisor can help you keep an eye on the horizon by understanding your situation and wishes, including tax-efficient legacy planning.

Latest insights

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Preserve Wealth and Reduce Taxes with a Family Trust

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By iA Private Wealth, April 27, 2021

High-net-worth families want to protect their wealth, and one proven way to achieve that goal is through a family trust. And while high-net-worth families may reap the greatest benefits from trusts, other families – especially those who own a business – can make good use of family trusts as well.

A family trust is a legal entity that allows family members to protect assets, control the distribution of assets, transfer wealth among family members and split income in a tax-efficient manner. Before we look at these benefits in more detail, it’s important to understand the three key parties involved in family trusts: settlors, trustees and beneficiaries.

The settlor is typically a family member or close friend who establishes and funds the family trust on behalf of the trustees and beneficiaries. Trustees are the people who manage and administer the trust, and are often parents or a reliable business advisor. Beneficiaries are the people who will receive financial benefit from the trust, and can be children, grandchildren, siblings, nieces, nephews, etc.

Family trusts may set up as either testamentary (e.g., arising after the death of a trustee) or inter vivos (e.g., implemented while the trustee is alive).

Why create a family trust?

Now that we know who’s involved in a family trust, let’s look at four of the most common reasons for creating one:

  1. Protect assets. A family trust can protect the beneficiaries from claims for payment made by creditors. Assets held in the trust typically cannot be seized in the event of a lawsuit or bankruptcy.
  2. Control the distribution of assets. Trustees decide which beneficiary receives what – and when – based on the factors they have documented. Also, let’s say a child is disabled or not careful with money. The family trust can distribute assets in a way that ensures the child has enough money to help meet their lifetime needs.
  3. Transfer wealth among family members. An estate freeze is a strategy that allows a business owner to lock in the value of their business at its current valuation as part of the family trust. Any future growth of the business is considered a capital gain and the beneficiaries can use their lifetime capital gains exemption to help shelter these gains from income tax. Estate freezes are also used in other tax-mitigation strategies and for certain estate planning and business succession purposes.
  4. Split income in a tax-efficient manner. A family trust allows trustees to distribute earned income to family members who are in a lower income tax bracket, so the income (e.g., capital gains, dividends) is taxed at a lower rate. By sharing income, the overall family tax burden is reduced, leaving more wealth available.

Family trusts offer many benefits, but may also be costly and complicated. We can help you determine if establishing a family trust is suitable for your family’s unique financial situation. Find out more by contacting an iA Private Wealth Investment Advisor.

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Why Everyone Needs an Estate Plan

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By Josh Sheluk, April 19, 2021

Pop legend Prince passed away in 2016 at the young age of 57. Despite fame, fortune, a wardrobe filled with raspberry berets, and a lineup of royalty-generating music, the man made a critical mistake that too many Canadians seem intent on copying – he didn’t have a will.

An Angus Reid Institute poll finds that 51% of Canadians do not have a will, while only 35% have one that is up to date. If you want to mimic Prince’s fabulous personal style, that’s one thing; but following in his footsteps by dying without a will is not something we recommend.

An estate plan isn’t just for the wealthy, and it involves much more than a will. Consider a few real-life scenarios that may hit a bit closer to home than the story of an international pop star.

Scenario 1

A single father has two minor children. He has a well-paying job and has accumulated assets: an RRSP, a TFSA, and the family home. He also has a life insurance policy that would pay out upon his death. He would like to have the assets managed professionally for his children until their 25th birthdays.

The case may be obvious, but our father is in dire need of a proper estate plan. Upon his death, there are tax consequences for the RRSP, a formal trust needs to be set up by a lawyer, a trustee needs to be appointed, and assets need to be liquidated. The only proper way to do any of these things is with the help of a will.

Scenario 2

A married couple has two young children. They have some debt but do not have much in the way of savings. There is a modest life insurance policy through the wife’s employer, but with the absence of personal wealth and with money tight, they are not yet considering creating a will.

Personal wealth does not determine the need for an estate plan. Importantly, a proper estate plan covers the guardianship of minor children. Without explicit directions from the parents, the guardianship could end up in court. With family members who don’t get along, the only ones who win are the lawyers.

Scenario 3

Your friend’s mother passes away. Your friend’s half-sisters would like their mother to be buried next to their father, who passed away 50 years ago. Your friend, of course, would like her mother to be buried next to her father, who was the deceased’s current husband of 45 years.

A proper estate plan involves a final directive, which is direction to those left behind on what should happen with one’s remains. It’s often difficult to foresee what problems or contentions may arise upon your passing, which is why a properly structured and well-thought-out plan is crucial.

So, should you have an estate plan? The answer, in our experience, is almost certainly “Yes”. And that estate plan should almost certainly include a will, appointment of a power of attorney, and final directive. Not only should you have a plan, you should also revisit it regularly, as it’s likely you’ll change your mind as circumstances change over time.

If you’re having difficulty figuring out where to begin, talking to a professional would be worthwhile. A financial advisor or lawyer who focuses on wills and estates would be a good place to start.

Josh Sheluk, CFA, CFP®, CIM®, is a Portfolio Manager at White LeBlanc Wealth Planners, iA Private Wealth, in Burlington, Ontario.

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Do You Need a Prenuptial Agreement?

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By iA Private Wealth, April 16, 2021

If you’re getting married, it’s an exciting time. You’ve got many things to do before the big day – is a prenuptial agreement one of them? It’s usually not top of mind for couples entering marriage, but it’s worth considering.

A prenuptial agreement (also called a prenup or marriage agreement) is a written, legally binding document that a couple signs before they marry. In the event of divorce, a prenup determines the rights of entitlement (e.g., how assets are divided).

People often hesitate to sign a prenup. They feel it assumes the relationship is headed for divorce or treats marriage as a business arrangement. That’s not necessarily the case.

Think of it as a form of insurance. When you buy home insurance, you’re not assuming your house will burn down. When you buy disability insurance, you’re not assuming you’ll suffer a major accident. You just want peace of mind knowing that you’re protected if something bad happens.

Benefits of a prenup

A prenup encourages open communication before marriage regarding important life issues. You will disclose financial circumstances (good and bad), major goals, approach to childrearing, etc. You’ll learn what’s important to your partner and what needs and concerns he or she may have.

Here are eight more reasons to sign a marriage agreement:

  1. You want to protect your existing assets (e.g., a home, investments, insurance policies, jewelry or other possessions with monetary/sentimental value) and future inheritances.
  2. There’s a significant imbalance in the value of assets each person brings to the marriage.
  3. You own or have an ownership stake in a business (especially a family business).
  4. One partner (or both) is carrying a large amount of debt into the relationship.
  5. You want to uphold an existing estate plan so your assets are distributed according to your wishes when you die.
  6. One partner (or both) is already divorced and/or has children who may be receiving financial support.
  7. A prenup can make divorce less contentious, facilitate a smoother settlement (which may mean lower legal fees) and ensure a fair distribution of assets.
  8. Divorce is a common cause of financial hardship and bankruptcy, potentially jeopardizing long-term financial health and stability.

In Canada, the laws regarding prenuptial agreements vary by province, so be aware of the parameters and limitations that apply to your province of residence.

Postnuptial (postnup) and cohabitation agreements

Like a prenup, a postnup is legally binding and stipulates how a couple’s assets are distributed in the event of divorce. But as its name suggests, a postnup is signed after getting married. Courts often treat a postnup carefully to ensure validity of the reasons why the couple made this arrangement after they exchanged vows.

Cohabitation agreements differ slightly. Without a prenup, a divorcing couple typically splits their assets equitably. This default action doesn’t apply to common-law couples with no cohabitation agreement. For example, you’re not automatically entitled to 50% of the shared home, even if you’ve been making 50% of the mortgage payments and covering 50% of home maintenance costs.

Keep all receipts and other documentation regarding home-related expenses, and ensure your name appears on the title of the home. Alternatively, a cohabitation agreement can clearly (and legally) spell out how you deal with financial issues when together, and what happens to your assets should the relationship end.

If you’re engaged or thinking about moving in with your partner, an iA Private Wealth Investment Advisor can work with your legal counsel to create a marriage agreement that is fair and protects your assets.

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A career at iA Private Wealth

Looking for a rewarding career in financial services? We have a wide range of opportunities for talented, committed professionals, and offer attractive compensation and benefits.

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Investment Advisor opportunities

More and more advisors are looking to iA Private Wealth as the partner of choice for building and growing an independently owned and operated business with an unwavering focus on client success.

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