Our Services

Although life is a continual series of transitions, significant events or life-changing experiences occur periodically that require financial resources and decisions with long-term impacts. Divorce, retirement, widowhood, change in family status, or any number of transitions require special financial consideration. with careful planning and expert help from professionals specializing in financially equitable divorce settlements, you can increase your chances of arriving at a settlement that is fair and equitable, and one that fully addresses your long-term needs.

At Shokohi Wealth Management Group, we work closely with our clients and their attorneys to lay the groundwork for a smooth transition from marriage to a new, independent life. Company founder Nadia Shokohi, Ph.D., is a Certified Divorce Financial Analyst™ (CDFA), trained specifically in the financial issues of divorce, and she brings an interdisciplinary knowledge to the complicated issues that often arise in a divorce.
 

Services include:

Nadia specializes in providing fiduciary services to employer sponsored qualified and non-qualified retirement plans.

She provides plan design, onsite employee education and services to large companies to multi-generationally owned family businesses to non-profits.

Shokohi Wealth Management is committed to your employees’ retirement. Our comprehensive, full-service approach helps you address your fiduciary obligations and provide customized Deferred Compensation and Defined Contribution retirement programs. 

We provide:

• Fiduciary Services: 3(21) 
• Plan Design and Implementation
• Vendor searches, benchmarking and management
• Investment selection, review and monitoring
• Assist in identifying Qualified Default Investment Alternative (“QDIA”)
• Financial wellness programs
• Onsite Education and Enrollment
• Retirement Counseling and Financial Planning
• Face to face meetings with employees
• Independent Investment Advice
   

Insurance is essential to any comprehensive financial plan. If tragic events like death, disability or critical illness strike, insurance can protect you and your family from undue hardship. Some life insurance policies also provide tax-advantaged savings that you can draw on to work toward goals like buying a house or retiring comfortably.

I have access to a variety of insurance products that can help meet your financial planning needs. No matter your personal situation—if you’re single or in a family; a professional or a seasonal employee; an executive or small business owner—we will work together to design a customized plan.

• Life
• Long-term care, disability and critical illness
• Health and dental
• Group health benefits
   

Life insurance

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In the event of death, life insurance offers surviving family members increased financial security. As a tax-free lump sum payment, it can pay for final expenses and debts, as well as provide income for the deceased’s dependents.

The advantages of life insurance include:

• An instant estate for your loved ones at a time when funds are most needed
• Death benefits that are almost always non-taxable for named beneficiaries
• Avoid probate costs if you name a beneficiary other than your estate
• Potentially offer your loved ones creditor protection through some life insurance plans
• Build tax-advantaged capital for retirement purposes or provide liquid savings through some permanent life insurance plans

I can help you select coverage from a variety of life insurance options to meet the needs identified in your financial plan.

Life insurance can play a vital role in your financial plan - contact us today to find out how.

Long-term Care, Disability and Critical Illness insurance

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Help protect one of your most valuable assets – your income – from unexpected events through long-term care, disability and critical illness insurance.
 

Long-term care and disability insurance

Income is important for both current financial obligations (e.g. grocery bills and mortgage payments) and for future financial security (e.g. planning for your children’s education or for retirement). Just think what might happen if you suddenly lost your income stream through a long-term illness or disability.

Long-term care and disability insurance products help protect your ability to earn an income, which can be affected if you are afflicted by a disability or other condition.

I can help you choose the long-term care and disability insurance products that provide advantages like:

• Helping maintain your financial independence, lifestyle and long-term financial security plan in the event your income is impacted by disability
• Assist with paying fixed expenses for your business if you become disabled
• Support the buy-out of a disabled partner’s share of a business

I can help you tailor your financial plan so it protects your income through long-term care and disability insurance. Contact us today to find out how.
 

Critical illness insurance

Suffering a critical illness is distressing for both you and your family. Help ease the burden through insurance that will reduce financial stresses and can complement disability and life insurance protection needs. By helping pay for the additional expenses often associated with a critical illness or condition, insurance offers you, your family, and if applicable, your business, added financial security—so you can focus on recovery.

The advantages of critical illness insurance can include:

• Coverage for up to 22 critical illnesses or conditions
• An initial lump-sum benefit you can use however you wish—from making mortgage payments to seeking medical treatment outside Canada
• Home-care costs during illness and recovery periods
• Even if you’re not disabled from working, you may receive payment
• The ability to provide a return of premium benefit (optional)
• Individuals who cannot obtain disability insurance in some cases still qualify for critical illness coverage (e.g. a non-income earning spouse)

Contact us today to determine whether critical illness insurance fits into your financial security plan.
 

Health and Dental insurance

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Depending on your situation, you may or may not be covered under an employer’s group benefits plan. If not, I can help you choose a health and dental plan that can help cover out-of-pocket medical and dental expenses for you and your family. These plans are designed to provide various levels of enhanced healthcare protection, depending on your needs and the stage of life you’re in.

When designing your customize health and dental insurance package, you can choose from an array of services. Options include:

• Prescription drugs, which many consider one of the most valuable forms of health coverage.
• Paramedical services, ranging from the use of an ambulance to a visit to the massage therapist.
• Vision care if you or your family members wear glasses or contact lenses.
• Protection while on vacation or a business trip with out-of-country medical coverage.
• Access to private or semi-private hospital rooms.
• Dental care can include basic dental work as well as a portion of orthodontics, depending on your level of coverage.

Contact us to find out more about enhanced healthcare and dental protection for you and your loved ones.
 

Group health benefits

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In today’s working environment, valued employees are looking for more than financial compensation. They also want an employer who supports their health, and the health of their families.

For this reason, either by itself or paired with group insurance products, consider attracting and retaining employees with group benefit plans. From traditional health and dental benefits to alternative arrangements like employee wellness programs, group auto insurance or flexible work situations, group benefits help make employees more efficient, productive, and happy. Employers also gain tax benefits, such as premiums that are deductible as a business expense in some cases.

Flexible plans offer employers and employees cost-effective, customized ways to address their needs. Choose from an array of benefits like:

• Extended health and dental care coverage, which includes options like prescription drugs, paramedical services, vision care, out-of-country medical coverage, basic dental work and orthodontics
• Group life insurance
• Group short- and long-term disability insurance
• Employee assistance and wellness programs
• Alternative group benefits, such as group auto insurance or flexible work arrangements
• Group critical illness coverage, to help ensure your employees can survive a critical illness
• Benefits plans tailored to specialized employee groups, such as foreign or part-time workers

Contact us today to learn more about benefits products and services that fit the needs of your business.

This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. In addition, state insurance laws and insurance underwriting rules may affect available coverage and its costs. Guarantees are based on the claims paying ability of the issuing company.

Managing your finances is an important component to any financial plan. Along with the protection offered through insurance and the goal setting provided by investment choices, money management strategies help you manage your savings on a daily basis.

From mortgage payments to tax savings, we can help you manage your money as effectively as possible, given your personal situation.

For Individuals

• Saving
• Tax Planning
• Succession Planning

For Businesses

• Financial Planning for Business Owners
• Business Succession Planning
   

Saving

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Depending on your stage of life, chances are you’ll have a distinct approach to saving. New graduates or young couples have different needs than retirees or mid-career families. But no matter your personal situation, we can help you develop financial habits that will lay a strong foundation for your savings.

Younger individuals and couples have a number of benefits in terms of financial management. Low insurance costs and a long investment horizon, combined with few responsibilities, can make for an excellent financial base. We can help you build on these advantages, while at the same time considering a debt load that might include student loans, car payments or perhaps a mortgage.

Couples planning for a first child enter into a new level of commitment—both personally and financially. Learn how to save for a child through specialized insurance and investment products, such as a Registered Education Savings Plan.

Mid-career professionals typically have higher incomes than younger investors—but they also carry more responsibilities. From mortgage payments to a child’s education, consider a financial plan that balances your needs and obligations.

Retirees have worked hard at their careers, and now is the time for relaxation and celebration. Chances are children have moved from home, the mortgage is mostly paid off and a few investments are coming to fruition. However, income levels may have dropped after retirement. Find out how to manage your finances in a way that allows you to fully enjoy the fruits of your hard work.

In short, no matter your life stage, contact us today to learn how to balance savings and investing with your other commitments.
 

Tax Planning

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No one likes taxes. But through the advice of a professional financial advisor, you can access products and services that help ease the burden. Charitable contributions, life insurance policies and investment products can all be useful tools in an effective tax strategy. Working together, we will consider your personal situation and create tax planning strategies that fit your needs.

Choose from a variety of products and services, such as:

• Income-splitting for spouses or common-law couples.
• Charitable donations, which benefits important not-for-profit work and allows donors to maximize tax credits.
• Life insurance products that build tax-advantaged capital for retirement.
• Investment products that provide for tax benefits.

Contact us today to learn more about tax-planning products and services that are specifically tailored to help address your needs.
 

Succession Planning

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Preparing for succession after death is a difficult issue to discuss, but it is also an important part of any comprehensive financial plan.

We can help you and your loved ones approach succession planning in a constructive manner that ensures they avoid problems and are well cared for in the event of your death. The process involves two main considerations: life insurance and preparing a will.

Life insurance can ease the financial burden and provide security for your loved ones in the event of your death. A lump-sum payment can be used for mortgage costs or to supplement lost income, helping your successors during a difficult period. Financial security and stability can make it easier to cope with the loss of a loved one.

A written will provides a means to guide your loved ones through the succession process. By naming your executors and providing instructions on the distribution of your estate, your surviving loved ones avoid having to guess your wishes. Rather than provincial law determining how your assets are to be divided—a situation that can result in lengthy court proceedings—a clear, carefully considered written will provides clear instructions to your successors. Save your loved ones the stress of dealing with financial issues by planning for your succession while you are alive.

Contact us today to discuss succession planning in more detail.

Financial Planning for Business Owners

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Business owners face unique challenges—and opportunities—in terms of financial planning. It takes hard work and careful planning to develop ideas into a successful business: continue that tradition by choosing a financial planning strategy that takes advantage of your unique situation.

For business owners who are considering moving to self-employment, a comprehensive plan can help with the adjustment from a situation where a previous employer might have provided benefits, such as health or life insurance or a company pension. Life and disability insurance can be difficult to purchase at first, since many insurers want two years of tax results. As well, self-employed people can gain tax write-offs for some health insurance premiums.

No matter what stage of growth your business is in, contact us today to design a tax-efficient business planning strategy.
 

Business Succession Planning

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You worked hard to develop a business, and now is time to enjoy the results. Many entrepreneurs spend years of focused effort building up a business, but then fail to consider how to make the transition to retirement. A financial professional can offer advice in how to plan an effective business succession strategy.

Entrepreneurs can work to turn equity in the business into capital that can be used to fund retirement. A financial professional can help business owners with tax-effective retirement strategies, such as using life insurance policies, paying yourself a salary as the business founder, or arranging for an heir to slowly buy up your shares.

Life insurance is another consideration when planning business succession. If the founder is nearing the end of his or her life, a well-planned life insurance policy can help successors transition into business owners. Upon death, successors face estate taxes on business values of more than $500,000—with the tax-free amount potentially offset by any capital business losses the owner declared during his or her lifetime. Life insurance is one way that successors can cover the remaining amounts.

Smaller businesses may not need to pay estate taxes, but can still benefit from a plan that ensures an equal legacy for their successors. A financial professional can help entrepreneurs plan an inheritance that is fairly distributed among all loved ones.

Contact us today to discuss strategies for business succession.

Asset allocation is the process of selecting a mix of asset classes that closely matches an investor’s financial profile in terms of their investment preferences and tolerance for risk.  It is based on the premise that the different asset classes have varying cycles of performance, and that by investing in multiple classes, the overall investment returns will be more stable and less susceptible to adverse movements in any one class.

All investments involve some sort of risk, whether it’s market risk, interest risk, inflation risk liquidity risk, tax risk. An individualized asset allocation strategy seeks to mitigate the risks of any one asset class though diversification and balance. 
 

Individual Strategy

When done properly, an investor’s allocation of assets will reflect his desired goals, priorities, investment preferences and his tolerance for risk. Asset allocation is an individualized strategy, so there really is no perfect mix of assets.  Each individual’s strategy is built on the careful consideration of the key elements of their financial profile:

Investment Objectives: What it is the investor hopes to achieve using his investment dollars – improve current lifestyle; achieve capital growth; fund a specific goal, such as a college education

Risk Tolerance: This reflects the investor’s comfort level with market fluctuations that can result in losses.  Inflation risk and interest risk need to be considered as well.

Investment Preferences: An investor may prefer one asset class over another based on a certain bias or interest towards the characteristics of that class.

Time Horizon: The length of time an investor is willing to commit to achieving his objectives.

Taxation: Investing in a mix of asset classes will have varying tax consequences.
 

An Evolving Strategy

A sound asset allocation strategy includes periodic reviews.

About the only certainty when it comes to the financial markets is that they will change, and so will your financial situation.  Through market gains and losses, a portfolio can become unbalanced and it may be important to make adjustments to your allocation.  As people move through life’s stages their needs, preferences, priorities and risk tolerance change and so too must their asset allocation strategy.   

Asset allocation, which is driven by complex mathematical models, should not be confused with the much simpler concept of diversification.

Learn more about asset allocation by contacting us today.

The death of a partner or major stockholder in a business can have devastating effects on both the business and the deceased partner’s surviving family.  The business is concerned with gaining control of the deceased partner’s interest at a fair price so that it can continue operations without interference from the surviving family members.  The family members are most concerned with receiving as much money as possible for their interest in the business and for capital that may be needed for estate settlement purposes.
 

The Need for a Written Agreement

Absent a written agreement, the competing interests of the business and the family members could lead to major conflicts, litigation and possibly the forced liquidation of the business.  A buy-sell agreement can ensure that the business interest of the deceased partner will transfer in an orderly manner to the benefit and satisfaction of all parties.  With a buy-sell agreement in place, the stability of the business for it clients, employees and investors (or creditors) is more assured.

Key elements of a buy-sell agreement include a mutually agreeable sales price and terms of the sale.  The agreement needs to be funded in order to ensure that the capital is available at the time of the death of a partner.  Life insurance provides a cost effective means of creating the capital necessary to buy out the interests of the family and establish a reserve for the business to use  to continue its operations.
 

Types of Business Owner Buy-Sell Arrangements

Entity Plan: Under this arrangement, used when there are multiple owners, each of the business owners has a separate agreement with the corporation or partnership as the entity.  The entity, per the buy-sell agreement, will buy the deceased partner’s interest at his or her death. 

Cross Purchase Agreement: Used in situations where there are two or three owners, a cross purchase agreement is established between each of the owners. At the death of one of the owners, the surviving owners agree to buy a proportionate share of the deceased owner’s interest.

Buy-Sell arrangements are a simple, yet effective way for business owners of privately held companies to plan for the orderly transfer of business interests where two or more owners are actively involved in the business. In addition to securing the needs of the surviving family members and ensuring the continuation of the business, a buy-sell arrangement also ensures each owner that there is a buyer for their business interest at a fair price.

Business succession planning involves legal, tax and personal financial issues. Guidance from a qualified attorney or tax professional is strongly recommended.

For more information on business succession planning, contact us today.