Doctors, your Medical Professional Corporation (MPC) should be doing its job while you are between clinic hours and charting. From what we've seen, managing the MPC usually ends up at the bottom of the list. Retained earnings can sit in your MPC, your disability coverage may protect only a fraction of your current income, and you may not have a clear payout strategy over a 30-year career. So take a minute and ask yourself a few questions. 🔹 Is money piling up in your MPC while you are still unsure whether to pay yourself salary, dividends or a mix? 🔹 If you got seriously sick or hurt tomorrow, would enough money keep coming in to support your family, pay your staff and keep your practice running? 🔹 Do you have a clear plan to turn your retained earnings into retirement income and a tax-efficient estate? If you hesitated on any of these, this session is for you. Most of the physicians we meet hesitate on at least one. Join two fiduciaries - Dr. @ketanpkulkarni and I for our webinar. 🎙️ "Don't Worry, Be Savvy" 📅 Thursday, November 5 ⏰ 4:00 EST | Online, free In under an hour, you will get practical strategies built for busy physicians. That means less time worrying about your MPC, and more time for your patients, your family and yourself. And if you know a colleague who could use this, tag them below or send them this post. Because your corporation should be helping fund the life you are working so hard to build. #DontWorryBeSavvy #ProactiveWealth #DocLife #MedicalProfessionals #PhysicianFinance #FinancialFreedom #WealthManagement #FinancialPlanning #PersonalFinance #TheSavvyPhysician #CrimsonFinancial

I fell in love with financial planning back in 2011, and I fell hard, just a few days into my first week at the firm in Markham. I walked by my manager's corner office where he was catching up with one of the branch's top advisors. He introduced us, and I asked for his secret sauce. He grabbed a pen and a sheet of paper. Then he sketched his whole process in under a minute. Four quadrants. Cash went in the top left, and living benefits went in the bottom left. Retirement took the top right, and financial security at death took the bottom right. Then he drew a big circle around the square and wrote estate on top. I was convinced. That one sketch covered more than all of the conversations I had in my life up until that point. And I had already spent 2.5 years at RBC by then. He never earned his CFP designation. Yet he did more planning, and got more families to take action, than 90% of the advisors I came across in those first five years. So months later, I taught that sketch to two new advisors I recruited. The first helped a young professional buy term life insurance and critical illness coverage. After seeing a needs analysis and a clear recommendation summary, that client also transferred their bank RRSP account over. The second secured a meeting with his aunt and uncle. Using some basic tools available at the time, he showed them a retirement projection. He also showed them how past performance would have differed with a portfolio that matched their risk tolerance and minimized downside risk. They got clarity for the first time, and agreed to switch. I eventually helped many other advisors with their own planning needs. Three come to mind right away, each preparing for their own transition to more time with their significant others and families (transition planning works for advisors too). All three are really enjoying their time away from this ever-changing business. So what is real financial planning? It's getting a clearer picture of your entire financial life and realizing what's possible with your money. Watch this clip. And if your financial house needs some remodeling or a major renovation, check out crimsonfi.com and book a call with Crimson Financial today. #CrimsonFinancial #CrimsonCarePlan #CertifiedFinancialPlanner #FinancialPlanning #WealthManagement

I saw a post recently from a friend of a friend of a GoFundMe page for a doctor in his 40s who left behind a spouse and three kids. The fundraising target would have covered two months of expenses at most. The surviving spouse now has about six months covered, thanks to their community. Is that enough? Then yesterday morning, I heard on the radio that a fire broke out a 15-minute drive from my house. It started as a vehicle fire, then spread to two homes. A father in one of the houses died. Both stories made me reflect on what I did when I became a father for the first time 16 years ago. Review my risks. Buy life insurance. Recently, I booked a visit to Pumpkinville at Sherway Gardens with my kids. I did not check the weather when I booked it, and it rained the whole time we were there. The point is good people pass away way too young, and rain happens. We still had a brief, but good time taking photos like this one. And you can't see it, but you're looking at over $2.4M of life insurance coverage. $2M of it is on me, for their mother. The other $400K covers my two children (more than most adults I come across carry). Why do my kids have their own policies? I'll save that for a future post. Now back to my own protection, and why I put it in place as a new father. When did you last review who depends on your income, and what they would have if you were gone tomorrow? Group coverage through work rarely answers that question for a family of four. And if you're an incorporated business owner with a family and staff, it's up to you. After 179+ years of existence in this country, life insurance still gets a bad rap. Death is one of the two guarantees in life. But here's a friendly reminder, life insurance is all about love. It's for the people you care deeply about, so that if you're gone too soon one day, they can cherish the memories and still have the means to make new ones without you. Crimson Financial is contracted with 12 insurers to help you get the right coverage at the right price. Check out crimsonfi.com and book your free consultation call today. #CrimsonFinancial #CrimsonCarePlan #BusinessOwners #CertifiedFinancialPlanner #FinancialPlanning #WealthManagement ​#LifeInsurance ​#RiskManagement

Needs improvement.

As a fiduciary financial planner who guides both full-service clients and those who prefer to DIY, I need to know what is out there in the investing universe. And for me, one of the best ways to learn is in person. On Saturday, I attended a wealth management conference, and the exhibit floor was full of products. Some that caught my eye: ☑️ Covered call ETFs from a Big 6 bank ☑️ Income streams from Canadian student housing ☑️ Double-leveraged single-ticker funds, including SpaceX and Palantir ☑️ Triple-leveraged bets on Canadian gold miners and US-based semiconductor companies There was even a new AI fund co-founded by Amazon's Jeff Bezos, presented as already worth $41B! If you have never heard of these, there is a very small chance you are missing out. But that depends on where you are already investing. Many Canadians with a diversified portfolio in their RRSP, TFSA and non-registered accounts may already hold some of the same exposure (just packaged differently). And leverage works in both directions. If the underlying stock falls 33% in a single day, a triple-leveraged fund on it can be close to wiped out. Do you know what's in your portfolio and their roles in it? If you already own real estate in addition to your primary residence, do you really need more rentals? Or maybe you're an experienced real estate investor, who's had enough of being the landlord and looking for an alternative? These questions deserve answers, and a financial planner can help you find them. For most people, double-digit returns every year are only a means to an end. What they actually want is to reach their goals on time or ahead of schedule, without taking unnecessary risks. And to have access to their money when life calls for it. More often than not, it's the plan that's next on the shopping list, not another exciting investment product. #CrimsonFinancial #CrimsonCarePlan #CertifiedFinancialPlanner #FinancialPlanning #WealthManagement #InvestmentManagement

Since the start of January, I have been going to the gym three mornings a week, right after I wake up. Most days, I am awake and ready before my feet hit the floor. Yesterday was tougher. Then, mid workout and after a trip to the water fountain, I saw a quote on the wall that got me through my last two sets. (Ignore the misspelling of the author though. Should I tell the manager it should read Liane Cordes?) I've been working out consistently to strengthen my muscles and bones, and I am building Crimson Financial the same way, brick by brick. Canadians can build their financial houses with that same patience so they stand the test of time. That usually means a few seasons of work: ☑️Build a foundation of steady cash flow and automated investing ☑️Declutter or consolidate old accounts, insurance, and debt that no longer fit ☑️Reorganize the plan as careers, kids and health change ☑️Pass it on to the next generation, eventually And you don't need a winning Lotto Max ticket, a FanDuel 8-leg parlay or an AI agent daytrading for you. Consistent investing, proper risk management, a diversified lower-fee portfolio, and time do the heavy lifting. Just like at my gym, some people learn from a trainer after a handful of sessions and then carry on with confidence. Others need that ongoing guidance to keep their form right and stay on track for decades. Both are fine, as long as you know which one you are. If you want that ongoing guidance with your finances, please reach out to learn more about how Crimson Financial can help you build a house that lasts. #CrimsonFinancial #CrimsonCarePlan #CertifiedFinancialPlanner #FinancialPlanning #WealthManagement #FinancialFreedom

Legal, tax, and medical professionals have been around much longer than financial advisors, and I believe our advice can shape a life just as deeply. Healthcare especially, because both can make a huge impact on someone's life in the long run. But many Canadians have received bad financial advice, and some of it has led to disastrous results. Realtors get a bad rap too. Many homeowners have realized recently that they bought too much house. Others should have rented, because there was a good chance their career would move them to another part of the country or the world. Last Thursday, I had the opportunity to educate a room of realtors. The topic was how financial planning can empower older homeowners to make the best real estate decision. I started with a show of hands. Who here knows a Certified Financial Planner? No hands went up. Then I walked them through my planning process for older homeowners, which looks at three paths before any listing: ☑️Stay in the home ☑️Sell the home ☑️Stay and access the equity Each one changes cash flow, taxes, and transition planning for the couple involved. And a realtor can make that warm introduction long before a sign goes on the lawn. One realtor asked about referral compensation. My answer was no. I asked them to think bigger and let another trusted professional help nurture their pipeline (the clients who are not ready to list today). In a down market, Canadians need quality advice more than ever. So the collaborative approach is what I am selling. A homeowner who knows their numbers can make a confident move, and the realtor who made the introduction is likely the one they will call when it is time to list. #CrimsonFinancial #Partnerships #Collaboration #CertifiedFinancialPlanner #FinancialPlanning #WealthManagement #RealEstateInvesting #MultiunitInvesting

The midlife messy money middle is real. Try saying that 3 times. Thanks for the insights @MelissaJoyCFP! #BehavioralFinance #PersonalFinance #ClientFirst #CrimsonFinancial #WealthManagement

The Blogfather Barry @Ritholtz! #BehavioralFinance #FinancialPlanning #PersonalFinance #CrimsonFinancial #ClientFirst

BeFi Friday has arrived! @shapingwealth @bportnoy_ @Ritholtz @MelissaJoyCFP #BehavioralFinance #FinancialPlanning #CrimsonFinancial #PersonalFinance #ClientFirst #WealthManagement

I have had the same family doctor for over 10 years, and when I look back honestly at that relationship, it has always been reactive. I request some sort of annual physical when I remember, meet for 15-20 minutes, get bloodwork done, and wait for results. That is usually where it ends. The bigger moments came from outside the system. My 74-year-old dad was finally diagnosed with sleep apnea early last year and had to start using a CPAP machine. That pushed me to reach out and book a sleep study of my own. It confirmed I have sleep apnea too. Then back in May, Ontario announced that men starting at age 45 can now get screened for colorectal cancer. Did I get an email or a call? No. If I had known, would I have done it? Yes, without question. I get it, though. Family doctors are frustrated with unpaid administrative work and rising overhead, and many are stretched thin. That is one reason I want to guide more of them financially, because their own planning is a major area that often gets overlooked. But there is another way. Public coverage and proactive private care can both have a place in health care. There are kind medical professionals and clinics that have chosen to slow down and take their time with patients. Some even want to care for your aging parents and young children (the whole family under one roof). ☑️ What if your screening reminders came to you first? ☑️ What if your parents had someone tracking their health closely? ☑️ What if your kids had the same doctor for years? Thank you Judith Van Veldhuysen, MHA, Tia Young and Greg Harris at Harrison Healthcare for sharing your team-based personalized approach (like mine), and the tour of your clinic. Unfortunately, many Canadians still do not have access to a family doctor at all. I believe Canadians deserve real choice and transparency in both financial advice and health care. #CrimsonFinancial #CrimsonCarePlanPlus #CrimsonCares #ProactiveHealth #Partnerships #Collaboration #CertifiedFinancialPlanner #FinancialPlanning #BusinessOwners #Toronto

What is this? cvpc.ca/ @jasonpereira @JasonWattBCC @MarkMcGrathCFP @AravindSitham

Desjardins has been a fantastic partner this past year, and the Growth Lab is one of the main reasons why. I know I need to grow, improve, and market my practice better. Going in, my own list already had more ideas than hours in the week. So when the invitation came, I made sure to be in the room. This year they hosted it on the 3rd floor of 25 York Street. It turned out to be one of the better meeting venues in Toronto. The agenda was packed with specialists in their respective areas: ☑️Angelina Hung gave a masterclass on advisor marketing, with lots of AI ☑️Fellow IPC Wealth advisor Jo Anne Martin talked about the benefits of in-person events and following up ☑️Reh Bhanji and David Lee discussed LinkedIn as a marketing tool, alongside 2 of their leaders ☑️Matt McCoy shared the impact of podcasting Caught up with LDA's Charlie Conron, who gave me a great idea too. Each session gave me something I can use with the medical professionals and real estate investors I serve. Why does that matter? Because clients cannot benefit from advice they never hear about. Marketing is how a financial planner earns the first conversation. And the first conversation is where financial planning starts to connect money to life. A big thanks to @BrentSwatuk, who reminded us all to water the tree (and connect with other trees), and to every speaker for their insights. Growth takes time and consistency, and that applies to a practice as much as a portfolio. Now I need to knock off 5 more items from this ever-growing task list, starting this week. @DesjardinsINS #CrimsonFinancial #ContinuingEducation #Marketing #Partnerships #CertifiedFinancialPlanner #FinancialPlanning #WealthManagement #RiskManagement #DocLife #MedicalProfessionals #PhysicianFinance #RealEstateInvesting #MultiunitInvesting

The host himself! It's fun meeting other founders. I'll stay longer next time. #CrimsonFinancial #BusinessOwners #Entrepreneurship #Meetup #SaturdayNight #Toronto

First founders dinner meetup at Waterworks Food Hall. Let's start with some empanadas! #CrimsonFinancial #BusinessOwners #Entrepreneurship #Meetup #SaturdayNight #Toronto

Register here: events.teams.microsoft.com/e…

So many takeaways from today's @DesjardinsINS Growth Lab event hosted by VP Brent Swatuk! #RiskManagement #LifeInsurance #LivingBenefits #Growth #FinancialPlanning #BusinessDevelopment