“Money Matters with Jim Doyle”
Episode #11 Family Business IS Your Business
What was the motivation behind this episode show?
I see it every day, how being a business owner today is like a playing a game of whack-a-mole. There’s so much to do that we end up dealing with the most troubling issue du jour, often leaving important matters to be dealt with when we find some of that elusive…. spare time.
Operating with an informal business style, many family businesses face unique challenges, not the least of which are succession planning – sibling relationships – and family dynamics. Since everyone’s future is tied to the business, with multiple retirement and estate planning needs intertwined, untangling these competing agendas requires a helping hand.
Financial literacy rarely seems important – until a time of crisis – when we’re asked to make important decisions affecting our futures with whatever financial skills we have.
The weekly television series Money Matters with Jim Doyle was created in an effort to encourage Canadians to explore some of the financial issues we help clients address throughout their increasingly complex lives.
We invite you to tune in Thursday, Nov. 14 at 5PM PT OR Sunday, Nov. 17 at 7AM PT on JoyTV.
What is this episode about?
On this show, Clare Sutton of Claire Sutton Consulting Inc., Brian Rudy of Synergy Business Lawyers, and Victor Yoshida of Concert CPA, explore the significance of continuity planning and good governance structures – offering tips for working collaboratively with your professional advisors to ensure the continued success of your family business.
Family businesses are often under-appreciated as the backbone of the Canadian economy. To understand the complex reality of family businesses today may involve a number of working professionals deconstructing various elements of the business into a series of specialist problems to which there are technical answers.
Unfortunately, families are often left with the challenge of pulling together different pieces of advice from various specialists without context. This can be awkward when the people making crucial business decisions lack the technical know-how needed for the task. Sometimes the biggest part of the problem is knowing where to turn for answers. It’s time we helped change that!
What are we hoping will come out of this show?
These businesses and families matter! If we help one family business initiate an ongoing dialogue about how the business can help them accomplish their commercial and personal financial goals, then we think we’ll have had a success.
On our next show we’ll be talking about . . . ‘An Unconventional Estate Perspective – Prepare Your Heirs not Your Estate’, premiering Thursday, Nov. 21 at 5PM PT and Sunday, Nov. 24 at 7AM PT.
Jim Doyle, Doyle & Associates Private Wealth Management, Investors Group Financial Services Inc.
This is a general source of information only. It is not intended to provide personalized tax, legal or investment advice, and is not intended as a solicitation to purchase securities. Jim Doyle is solely responsible for its content. For more information on this topic or any other financial matter, please contact an IG Wealth Management Consultant. Views of guest speakers may not be shared by IG Wealth Management.