Wealth Management

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Wealth Management for Individuals

When discussing personal wealth management, our approach is to ensure your wealth management strategy fits into your overall balanced financial portfolio. It is important that we have a clear understanding of your tolerance for risk, your time horizon for saving and investing, and the various plans you have for the funds you set aside.

For most people, it is important to save and invest for the short term, the mid term and the long term, and to ensure you set aside funds not only for retirement, but for the emergencies and opportunities that will arise on your path to retirement.

The following strategies and products make up the wealth management component of your balanced financial portfolio.

Your Balanced Financial Portfolio

 

  • RRSP's

    A Registered Retirement Savings Plan (RRSP) is a personal savings plan registered with the federal government that allows you to save for the future on a tax-sheltered basis. RRSP contributions can be used to reduce your taxable income, however you are limited to contributing 18% of your prior year's income, to a yearly maximum. The growth on the investments is tax free until withdrawal.

     

  • RESP's

    An RESP, or Registerd Education Savings Plan, is an excellent way to save for your child's post-secondary education within a tax-sheltered plan. An RESP helps you reach your education savings goals for your children through an investment vehicle that combines tax-deferred investment growth with government assistance and flexiblity.

     

  • Segregated Funds

    Segregated Funds are similar to mutual funds, but are issued through insurance companies. Segregated funds offer certain advantages such as creditor protection, maturity and death benefit guarantees, and the ability to bypass probate.

     

  • Deposit Accounts (Term Deposits and GIC's)

    Deposit accounts such as term deposits and Guaranteed Investment Certificates (GIC's) pay a fixed rate of interest, and generally, are locked-in for a pre-determined amount of time. GIC's and term deposits can be either registered or non-registered.

     

  • Virtual Bank Accounts

    Virtual bank accounts are high interest chequing/savings accounts allow for withdrawals and deposits without any conditions, while providing a high interest rate. Virtual bank accounts are online, high-interest chequing/savings accounts that are perfect for business owners who wish to get a little bit of extra return on their money, but who do not wish to lock-in their funds for any period of time. Virtual bank accounts allow for withdrawals and deposits without any conditions, while providing a high interest rate. These accounts can be accessed online, anytime, and can even be used for employee payroll.

     

  • RRIF's

    A Registered Retirement Income Fund (RRIF) is an option for maturing RRSP's (by age 71) that provides a stream of income intended for retirement.

     

    The funds within a RRIF remain tax sheltered, however you must withdraw a minimum amount each year as determined by the government based on your age and the amount of money in your plan.

     

  • Non-registered Investment Accounts

    A non-registered investment account is one that is not registered with the government, meaning the assets are not tax-deferred.

     

    The advantages are greater flexibility in regard to deposits, withdrawals and investment options.

     

  • Tax Free Savings Accounts

    Introduced in 2009, a Tax-Free Savings Account (TFSA) allows for yearly contributions up to $5,000, per individual (the annual contribution limit is to be indexed to inflation). In contrast to a RRSP, deposits are not tax deductible.

     

    The growth on the deposit remains tax free, both while in the TFSA, and upon withdrawal (there are no restrictions on withdrawals). Like an RRSP, your contribution room accumulates each year. It is important to note that your withdrawals, inclusive of any growth, are added to your contribution room for the following year.

     

    Anyone over the age of 18 can set up a TFSA. Tax Free Savings accounts are an excellent tax saving strategy, and should form a part of your balanced financial portfolio.

     

  • Annuities

    An annuity is a contract that guarantees a series of payments over a period of time or for life, in exchange for a lump sum deposit.

     

    Typically used for retirement income, the payments received represent a partial return of capital, combined with investment income.

     

 

Testimonials

  • I feel very comfortable recommending Ciccone/McKay to my clients…

    “In an industry where financial advisors can provide similar products to their clients, it is important to distinguish yourself from the rest of the pack. Anthony and the Ciccone/McKay team do this by taking a personal interest in their clients. Not only do they take the time to get to know their clients and find a solution that will fit their individual needs, they are also proactive in planning for their clients’ future.

    For the past 10 years, I have known Anthony as someone who provides expert and positive advice to all of his clients. As a result, I feel very comfortable recommending Ciccone/McKay to my clients as I know they are reputable advisors who always provide solutions that are in the best interest of their clients.”

       - Graeme Davies - Chartered Accountant, Grant Thornton LLP


  • They are always generous with their advice...

    “What sets Ciccone/McKay (Immix Group) apart from the others is their ability to understand the unique aspects of my business. They are so good at customizing programs that I am confident I have the best fit for my company. On top of that, they actively manage the program so that adjustments can be made along the way.

    The team at Ciccone/McKay (Immix Group) has great problem-solving skills and they always come up with creative options and solutions to problems. They’re just smarter than the rest!

    Their service is extremely good, they have great relationships with their suppliers, they offer competitive pricing and they are always generous with their advice.

    You couldn’t pay me to switch!”

       - Kelly Maxwell - Line 21 Media Services Ltd., Vancouver, BC
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We understand that the needs and concerns of business owners are unique, and require tailored solutions. Please call us at 604.688.5262 for more information on how we can help you determine the wealth management strategy that will work for you.

 

 

Contact Us Today

Email us at info@ciccone-mckay.com or call us: 604-688-5262

About Ciccone/Mckay

Ciccone/McKay Financial Group is an independent financial services firm with over 75 years of combined experience in the areas of risk management, wealth management and employee benefits.

 

We specialize in providing insurance and investment solutions for our clients, helping businesses, individuals and families grow, manage, protect and transfer their wealth.


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Contact Us

  • Ciccone/McKay Financial Group
    Suite 360 - 1095 West Pender Street
    Vancouver, British Columbia
    V6E 2M6

    604-688-5262