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 CIBC Private Wealth, Wood Gundy  CIBC Private Wealth, Wood Gundy

Slater Financial Group

  • Home
  • About Our Team
    • About us
    • Select clients. Superior service
    • We take care
    • About Mark Slater
    • Meet the Team
  • Investing Services
    • Investment Management
    • Financial Blueprint
    • Investment Management Solutions
  • Family Enterprise Advising
    • Family Governance
    • Family Governance & Enterprise Articles
    • FBC Tools
  • Family Office
    • Family Office Service
    • Business Transition Planning
    • Serving Families
    • Wealth Management Solutions
  • Our blog
  • Contact us

Business Transition Planning

Address The Bay Adelaide Centre - 333 Bay Street 28th Floor West Tower Toronto ON, M5H 2R2
Telephone Number (416) 594-8835
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Business Transition Planning

“Shirtsleeves to shirtsleeves in three generations” is the cautionary warning used to describe the propensity for family-owned businesses (FOB) to fail by the third generation. Unfortunately, the numbers give credence to the warning:

 

  • 70% of FOBs fail or are sold before the second generation takes over
  • Only 10% continue as active, privately held companies that successfully transition to the third generation
  • And only 16% of family businesses have a documented succession plan in place

*Sources

Harvard Business Review, Avoid the traps that can destroy family businesses

Boston Globe, Family Businesses have no succession plan

 

Boomers will inherit approximately $750-billion over the next decade.

 

Wealth invites new considerations and new challenges. CIBC says there are currently about 2.5 million Canadians over the age of 75 with a total net worth of $900-billion or more and the beneficiaries will be mainly Canadians currently aged between 50 and 75 years.* Stewardship of family assets and inheritance requires an informed approach that also helps to maintain family harmony. We can help educate family members on the responsibilities and opportunities of significant wealth, and help manage expectations.

 

*Globe and Mail, June 6, 2016

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CIBC Private Wealth consists of services provided by CIBC and certain of its subsidiaries: CIBC Private Banking; CIBC Private Investment Counsel, a division of CIBC Asset Management Inc. (“CAM”); CIBC Trust Corporation; and CIBC Wood Gundy, a division of CIBC World Markets Inc. (“WMI”). CIBC Private Banking provides solutions from CIBC Investor Services Inc.(“ISI”), CAM and credit products. Insurance services are only available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are only available through CIBC Wood Gundy Financial Services (Quebec) Inc.


CIBC Private Wealth services are available to qualified individuals. The CIBC logo and “CIBC Private Wealth” are trademarks of CIBC, used under license.