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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Talking Money with Aging Parents

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By iA Private Wealth, July 13, 2021

If you think about the money lessons you learned in childhood, your parents were likely involved much of the time. Maybe they opened your first bank account or helped you decide what to do with cash gifts you received on special occasions. Maybe you simply observed how your parents handled money.

It’s natural to learn financial lessons from parents, but what if the roles are reversed and you need to help your aging parents oversee their finances? It can be awkward for everyone involved, but there are ways to make it constructive.

Starting the conversation

How you initiate the talk depends on family dynamics. Perhaps you can be direct and dive right into a chat about finances. If you need a more subtle approach, find something that can help you transition into the conversation. Are your parents thinking of selling their home? Has one of them recently dealt with an illness? Maybe another elderly family member is struggling to manage their finances.

Regardless of how you get to the discussion stage, once you’re there remember to be respectful and compassionate. Money is highly personal and can be challenging for parents to open up about, especially if they’re used to being in control or feel embarrassed about needing help from their child.

However, it’s an important conversation because you want your parents to meet their regular expenses and enjoy a decent quality of life. If they encounter significant physical or mental health issues, they should be legally and financially prepared.

Key topics to discuss

Estate planning should be a top priority. Ensure your parents have an up-to-date will that stipulates how they want their financial assets and property distributed after they pass away. This can provide clarity to the family, as well as give your parents peace of mind that their wishes will be carried out.

It’s also good to have powers of attorney (POAs) in case your parents become incapacitated and need assistance managing their financial affairs or making personal care decisions. Wills and POAs are only valid if created while your parents are deemed mentally capable, so prepare documentation as soon as possible – before they display signs of incapacitation.

This discussion is also an opportunity to understand your parents’ cash flow situation. Take inventory of their income sources, from government benefits and workplace pensions to registered plans (e.g., RRIFs, TFSAs) and other investments. Then list their regular expenses for shelter, food, utilities, travel, hobbies and entertainment, medication, etc.

Do your parents have sufficient income to meet their expenses? What if health issues require moving to a long-term care facility or hiring professional care workers? If their budget cannot accommodate these expenses, do your parents qualify for government assistance? Can you and other family members help with funding or care requirements?

Also find out what insurance policies (if any) your parents have. You need to know the extent of coverage for life, health and/or long-term care insurance, as well as the premiums they pay to keep the policies in force.

Confirm that their tax returns have been filed and that there’s no tax outstanding. This will ensure your parents can receive the government benefits they’re entitled to beyond CPP and OAS, such as the Disability Tax Credit or Guaranteed Income Supplement.

Support is available

An Investment Advisor can help you assess your parents’ financial health and make recommendations to strengthen your parents’ financial circumstances, so they can approach the future with confidence and peace of mind.

Speak with an iA Private Wealth Investment Advisor to learn more about how to prepare for the money conversation with your aging parents.

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Your Wealth Plan Requires a Team Effort

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By iA Private Wealth, June 29, 2021

When you think about your wealth plan, chances are you turn to your Investment Advisor when you have questions or need guidance. That’s understandable, since your advisor is a trusted financial professional who has helped to build and maintain your wealth plan and investment portfolio.

However, life is complicated and so are finances, which means there are times your advisor may wish to engage external resources* such as accountants, lawyers or insurance professionals. Whether you already work with them or they’re part of your advisor’s network of contacts, these professionals can bring a valuable perspective on your unique financial situation.

It’s common for people to compartmentalize their financial needs and seek assistance accordingly. For example, when you want to sell your business, you approach a lawyer to address the legal aspects of this transaction. When you want to minimize your tax obligations, you may turn to an accountant for strategies to implement. It might sound logical enough, but if each professional only sees a portion of your financial picture, you’re not benefiting from an efficient and harmonized action plan.

Assign a leader

While it may make sense to use the services of professionals in specific fields, it’s wise to appoint one of them as your “quarterback” who will coordinate your overall plan to ensure a holistic approach rather than working in isolation.

Typically, the quarterback is your advisor, given that advisors are highly involved in both everyday finances and long-term wealth planning. Advisors have a comprehensive view of your financial life and everything that feeds into it, plus they are integral to helping set and achieve your various goals. On the other hand, external resources are usually consulted on an as-needed basis.

Open the lines of communication

Since it’s important for each professional to be aware of what the others are doing on your behalf, transparent communication is key. Keeping everyone informed is critical as major life events take place (e.g., marriage, children, buying/selling a business, divorce, inheritance). For example, if you get divorced, your lawyer might be required to amend your will, your insurance needs could change and your personal budget may have to be reworked. Or, if a family member unexpectedly suffers a terminal illness, you have weighty estate and insurance issues to consider, and you may also face new financial challenges.

It doesn’t matter whether you take it upon yourself to spearhead communication efforts or leave it to your advisor. The main thing is to get everyone on the same page as soon as your circumstances change, to determine what actions must be taken.

If the professionals you rely on don’t know each other, it may be helpful for them to meet (virtually or in person) so they can discuss where each of them fits into your overall financial affairs. Even if they know each other, it’s valuable to bring them together to share information and insights, or to identify complex issues that may require coordinated planning and a group solution.

When you work with a team of professionals – with an emphasis on “team” – that has your best interests in mind, it means you can benefit from greater efficiencies and harmonized planning. It may also help uncover new opportunities to save or earn money, bringing you closer to achieving your financial objectives.

Get in touch with an iA Private Wealth Investment Advisor today to learn more about how a team-based approach can help you achieve all your financial goals.

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Make the Most of Your Inheritance

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By iA Private Wealth, June 22, 2021

As baby boomers age, we’re seeing more wealth being transferred between generations than ever before. Maybe you’ve just received an inheritance and the money has been deposited into your account.

Now what?

The best next step is to consult with your Investment Advisor, who can suggest how to allocate your inheritance in a way that makes the most sense for your circumstances.

Addressing your financial goals

Before meeting with your advisor, give some thought to the following common goals so you can hold a productive conversation. Also think about your goal priorities so your advisor understands what’s most important to you.

  1. Pay down debt. Whether it’s reducing the balance on your credit card or line of credit, or pouring extra money into your mortgage payments, paying down debt is a practical use of your inheritance. Start with the debt that charges the highest interest rate, then the second-highest rate, and so on.
  2. Build your retirement savings. You can work towards retiring comfortably by contributing (subject to limits) to your RRSP or TFSA. If your workplace has a pension plan or share purchase plan that permits additional contributions – which the company often matches to some extent – consider taking advantage of it.
  3. Save for education. The cost of post-secondary education, especially if the student lives away from home, continues to rise. An investment vehicle like the RESP can help fund a child’s education and, when you add in any qualifying government matching and grants, you’ll be better positioned to save for future schooling.
  4. Create an emergency fund. A rule of thumb is to put aside at least three months of living expenses in case you lose your job, become seriously ill or face unexpected maintenance costs (e.g., your furnace stops working or vehicle breaks down).
  5. Invest. Putting a portion of the inheritance into your investment portfolio may be an effective strategy for growing long-term wealth. This is another area where your advisor – who knows your investment objectives, risk tolerance and time horizon – can add value.

If you decide to spend some of your inheritance on something that’s for pleasure and not related to your wealth plan, just be sensible about it and remain committed to your goals.

Importantly, there’s no inheritance tax in Canada, unlike many other countries. Taxation takes place at the estate level on the deceased’s final tax return, based on the value of assets that comprise the estate.

Educate heirs about wealth management

If you’ll be leaving an inheritance but are concerned your heirs might be irresponsible with their “windfall,” suggest that they learn about financial basics. Using an inheritance sensibly is a way to respect the person who provided it. Without the ability to handle money, they could squander their inheritance quickly.

In addition to any financial knowledge you pass along, your heirs can learn from courses and other educational means. It’s also good to introduce them to your advisor if they don’t have one, as advisors are familiar with intergenerational wealth transfers and working with families to build and preserve wealth.

If you recently received an inheritance or want to encourage your heirs to manage their inheritance wisely, an iA Private Wealth Investment Advisor can help.

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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.

View available positions

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.

See what we offer