Family Wealth Management

Generational wealth management plans to preserve earned and inherited wealth, for the future generations of a prosperous Prince Edward Island, Canada

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about family WEALTH MANAGEMENT

Family Wealth Preservation Strategies for every stage of Island life.

You’ve worked hard to build your wealth. We can help keep it working hard for your family for years to come.‍


Whether helping your children buy a first home, transitioning the family business, or passing on a vacation property, developing a sustainable financial plan to manage family wealth effectively and efficiently requires specialized advice and a team of financial consultants.


FAMILY WEALTH

Intergenerational Wealth Transfer

We understand that open family conversations about finances can be difficult, but they can also enhance your family’s future financial well-being and relationships. 


Our team can help you have a relaxed and constructive family discussion about shared values and goals that will clarify everyone’s needs and improve family communication. In a relaxed conversation, we will address topics including:


→ Inheritance

→ Taking care of loved ones

→ Legacy

→ Wills and wishes

→ Business succession/transition planning


We invite you to speak with us today about creating a customized tax-efficient strategy to transfer your wealth in a way that reflects your wishes.

PLANNING FOR EDUCATION

Post-Secondary Education Planning

Post-secondary education costs could be an important factor in your family’s overall financial picture. Whether you’re planning for your children or grandchildren’s future, we can help you determine the education savings strategies that make the most sense for you.‍


A Registered Education Savings Plan (RESP) is a flexible way to enjoy tax advantages and the growth potential you need to meet for future post-secondary institution costs. Parents, grandparents (and friends) can contribute money into an RESP account that will shelter the money on a tax-deferred basis until the child withdraws the money when attending a post-secondary education.


The investment income and government grants will be taxed in their hands. As your child is unlikely to have significant taxable income, they may pay little or no tax on this money. And, depending on where in Canada the RESP beneficiary resides, the RESP may be eligible for additional provincial grants.

Estate Planning - For the protection of your legacy.

Creating a legacy for the people, organizations and causes you care about requires proactive planning. We will help you create a carefully structured estate plan that reflects your unique wishes, protects your wealth and provides clarity to those you love.

Read the White Paper → Protect Your Legacy

INVESTMENT PLANS

IG Climate Action Porfolios

There’s a massive global response underway to combat the threat posed by climate change. The shift to a low-carbon economy could create huge investment opportunities. IG Climate Action Portfolios offers the potential for your investments to have a positive impact on the planet while also benefiting from the growth created by this economic transition.

DOWNLOAD THE IG CLIMATE ACTION GUIDE TODAY ↑

CHARITABLE GIVING

Benevolent Financial Planning

There are multiple benefits to your generosity. This includes integrating charitable giving as an important strategic component of your overall financial plan. 

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As more clients and their families become involved in supporting charities, they look increasingly to us for guidance. Charitable giving is an important part of your comprehensive Private Wealth Management strategy as a shared gift-planning process can strengthen relationships within families through the next generation.‍


Our team can help you choose specific giving options, such as a donor-advised fund. This can provide many of the benefits of a private foundation without the upfront costs and administrative responsibilities. Or, if you hold publicly traded securities, such as stocks, bonds, or mutual funds, and choose to gift these investments, you may enjoy additional tax savings.

INSURANCE

Insurance Planning

Insurance provides peace of mind, protection, and opportunity. We will work with you through an initial insurance-needs analysis to determine your insurance requirements. Then we will create a unique strategy to protect you and your family’s financial well-being.

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→ Manage risk and protect your income - Life, critical illness or disability insurance plans are important when protecting your family from an unforeseen loss of income or from unplanned expenses.


→ Protect the value of your estate - Insurance does more than protect you. It is also an opportunity to accumulate additional savings for retirement or to leave more of your wealth, tax-free, to the people or causes you care about.


→ Guaranteed income you can never outlive - An important foundation of your retirement plan could be a life annuity that may provide a guaranteed foundation for your retirement income.

Our Solutions

We believe wealth management is best achieved through the design of strategic growth plans, each expertly tailored to your unique needs to build long-term financial stability.


We invite you to explore Our Approach to Wealth Management

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Meet The Jeff Somers Team

Private Wealth Management Expertise

For Individuals, Families and Corporations of Prince Edward Island, Canada who prefer the concierge experience.

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