Indigenous Peoples in Canada have faced significant losses that prevented them from establishing intergenerational wealth. Many Indigenous communities have been displaced from their land, affecting their livelihoods and ability to establish intergenerational wealth due to acts such as the Williams Treaties of 1923.

In this episode of What They Don’t Tell You, Jack Jamieson, Lisa Caswell and Kain Big Canoe of T.E. Indigenous Services discuss the background of these settlements and the complex strategies to rebuild today with the goal of closing the wealth gap.

According to the 2011 National Household Survey (NHS), there are 43,000 Indigenous, Inuit and Métis business owners in Canada. A 2011 CCAB study found that the number of Aboriginal business owners and entrepreneurs is growing at five times the rate of self-employed Canadians. After all, the Indigenous economy is the Canadian economy, and if these communities benefit then we all benefit. These settlement assets will be an important to grow the Indigenous economy.

Managing and growing these settlement assets is a complex process. Each band is unique, thus all of these settlements need to be managed differently to best meet the special needs of each community. The assets are used to help individuals on and off the reserve, and last not only for the present generation, but for several generations to come. Past assets funded a broad range of needs including eldercare, affordable housing, mental health, education, public works or things a municipality would normally provide.

Our society has a great need to support and elevate the diverse voices, strengths, and unique approaches of Indigenous Peoples to truly benefit from our diversity.

To learn more about Jack Jamieson
LinkedIn: Jack Jamieson
About: https://www.tewealth.com/portfolio-item/jack-jamieson/

To learn more about Lisa Caswell
LinkedIn: Lisa Caswell
About: https://www.tewealth.com/portfolio-item/lisa-caswell/

To learn more about Kain Big Canoe
LinkedIn: Kain Big Canoe
About: https://www.tewealth.com/portfolio-item/kain-big-canoe/

Providing opportunities to others is a pillar of philanthropy. If you’re fortunate enough to be able to give, it’s important to understand where your donated money is going, and how these funds will be used. Though writing one-off cheques are always greatly appreciated by charities, there is a more sustainable and efficient way to organize your philanthropic efforts. In this episode of What They Don’t Tell You, CEO of CWB McLean and Partners, Kevin Dehod, sits down with Denise Castonguay of the charitable organization Canada Gives to discuss their mission for philanthropists to establish tax-smart, high-impact foundations with the valuable insight of financial advisors. 

A Private Foundation is a legal entity that requires consultation from a lawyer before set-up, and a board of trustees, thus making the set-up process a potentially long and expensive one. Canada Gives provides donors with an easier way of setting up family foundations, with a Donor-Advised Fund.

Donor Advised Funds (DAF) are one of the best-kept secrets in the not-for-profit sector. It involves creating an account within a sponsored organization, such as Canada Gives. A DAF is able to be set up with far lower funds. This has proven to be helpful for many donors because it allows them to get invaluable advice from financial advisors along the way. This advice can be used to help plan future efforts, and to give the donor insight into why their money is best allocated to certain places. 

In reality, a DAF is more private than a Private Foundation, because it is not a legal entity. With a Private Foundation, everything must be reported to the CRA, which in turn, makes the information less private. 

To learn more about Kevin Dehod

LinkedIn: https://www.linkedin.com/in/kevindehod/

About: https://www.cwbmcleanpartners.com/en/about-us/our-team/kevin-dehod

CWB McLean & Partners: https://www.cwbmcleanpartners.com/en

To learn more about Denise Castonguay

LinkedIn: https://www.linkedin.com/in/denisecastonguay/

Canada Gives: https://www.canadagives.ca/ 
 

Historically, women have noted worse experiences when it comes to the financial industry than their male counterparts. Financial planning and wealth management are aspects of life that both males and females must deal with, and being financially literate is important when considering a person’s overall wellbeing. In this episode of What They Don’t Tell You, advisors Bernadette Churchill, Ann Bawden, Anne Wildfong, and Samuel Chinniah discuss the ways women have been oppressed when it comes to finances, how the industry is missing the mark on inclusivity, and why it is so important for women to participate in their wealth creation. 

Though the services they use are the same, 73% of women reported having negative experiences when dealing with the financial community. Anne Wildfong details how she believes male advisors need to be more considerate when communicating with female clients and to take into account that many women already have an understanding of their portfolio. It is a disgruntling feeling for a woman to feel like she is being talked down to, especially when her advisor neglected to look into her background. If he had,  awkward situations could be avoided. 

These “gendered” roles see themselves present in the financial industry, due to the nature of males being the person in the family who traditionally manages the finances, and that historically women should not concern themselves with the house’s finances, rather running the household. This outdated structure can prove more harmful than helpful in the present day because it perpetuates old gendered stereotypes that have no place in society in 2021. Our team has noted that significant changes have been made in the financial industry when it comes to being more considerate of female clients and advisors, but that there is still a long way to go until women can comfortably exist in the wealth space. 

An aspect of this that still has a long way to go is the amount of female financial advisors working in the industry. Only 15% of financial advisors are female, which may be daunting to prospective female clients since they are unable to see themselves accurately represented in finance. It is important for clients to feel comfortable sharing details of their life around their advisors because this helps advisors best manage a portfolio to meet a client’s future goals. If a client feels uncomfortable around their advisor, they are not maximizing the potential of their portfolio, because aspects important to that client could have easily been overlooked. For example, perhaps a client wanted to create a vacation fund, but the lack of comfortability around their advisor deterred them from speaking up, and that money ended up being put towards buying a vehicle. 

Many female clients prefer female advisors because they can see themselves represented in the industry, or feel as though another woman can better understand their goals when it comes to their wealth, but that’s not always the case. The most important factor when choosing a financial advisor is fit and comfortability. When you match with a good advisor, you’re working directly with someone who is going to counsel you when it comes to your finances and help you optimally manage your finances to reach your goals. No two peoples’ portfolios are identical, and neither are two financial advisors. For people looking to start working with a financial advisor, it is a good idea to reach out to friends and family, and see which financial advisors they are working with. This provides a good starting point to begin interviewing advisors. Do not feel as though you need to work with the first advisor you meet with. Ensuring that you and your financial advisor have a trusting relationship is a key element in proactively managing your wealth. 

To continue to equalize the wealth industry, people need to speak up when they notice discrepancies. Not all women can be generalized under one umbrella, as Chinniah says, “one size does not fit all.” Wealth creation is important when considering a person’s overall wellbeing, and access to wealth creation should be universal. Money is power, and being financially literate will provide a person with the tools they need to secure their wealth and control their destiny. 

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To learn more about Ann Bawden

LinkedIn: Ann Bawden

About: https://www.cwbwealth.com/en/about-us/our-team/ann-bawden

To learn more about Samuel Chinniah

LinkedIn: Samuel Chinniah

About: https://www.tewealth.com/portfolio-item/samuel-chinniah/

To learn more about Bernadette Churchill

LinkedIn: Bernadette Churchill

About: https://www.cwbmcleanpartners.com/en/about-us/our-team/bernadette-churchill
 

To learn more about Anne Wildfong

LinkedIn: Anne Wildfong

About: https://www.leonfrazer.com/people/investment-professionals/anne-wildfong

Aging is inevitable, but it doesn’t mean that growing older ought to be uncomfortable, lonely or happening away from the comfort of one’s home. Senior care is a matter that touches everyone at some point in life and whether it’s for yourself or a loved one, planning ahead is crucial to ensure the optimal conditions are in place.

In this new episode of What They Don’t Tell You, Anna Presmyslova, Investment Advisor at CWB McLean & Partners, discusses with Karen Skoretz of Just Like Family Home Care the important things to know about senior care. After many years evolving in health-based non-for-profit organizations and in the caregiving industry, Karen Skoretz’s experience came together through Just Like Family Home Care, which provides personalized home care plans for seniors. They take a holistic approach, providing a safe and caring environment, building relationships and treating all their clients like family. 

As the co-owner of Just Like Family Home Care, Karen Skoretz has witnessed multiple crises arising from insufficient senior care, but also the conflicts that can be caused by the emotionally charged discussions between adult children and parents. Conversations about senior care can be filled with resistance, worries, and anger, as most people fear aging and worry they will lose their independence. This episode highlights the misconceptions people may have about elderly care, an industry that has significantly evolved since the 1970s. 

Although she always prioritizes aging in place, which allows clients to stay in the comfort of their home while ensuring their safety, Karen Skoretz outlines the various options available, including independent living, memory care, long-term care and palliative and hospice care at the end of life.

This episode also provides insights on the importance of planning ahead, starting the research process early and having these difficult conversations as soon as possible instead of waiting for a crisis. By slowly implementing care services, we are often able to avoid some serious problems, and therefore ensuring seniors can stay in their home for as long as possible. As the COVID-19 pandemic emphasized, the government isn’t always there to help older generations through their aging process, due to cutbacks and lack of resources. This reinforces the importance of addressing senior care as soon as possible

Another misconception discussed in this episode is the cost of these services, which are often believed to be out of most people’s reach. By starting the process early and planning ahead, the various costs (which can vary from a couple hundred to $6500 a month) can be anticipated, and therefore planned for.

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To learn more about Anna Premyslova

LinkedIn: ca.linkedin.com/in/anna-premyslova-cfa-42894966

About: www.cwbmcleanpartners.com/en/about-us/our-team/anna-premyslova

To learn more about CWB Wealth Management

Website: www.cwbwealth.com

LinkedIn: ca.linkedin.com/company/cwb-wealth-management

Facebook: www.facebook.com/cwbwealthmanagement/

Instagram: www.instagram.com/cwbwealth/

YouTube: www.youtube.com/channel/UCS8_TCuv7RGdt394zjzs5jQ

To learn more about Karen Skoretz

LinkedIn: https://ca.linkedin.com/in/karenskoretz

To learn more about Just Like Family Home Care

Website: calgary.justlikefamily.ca

Facebook: https://www.facebook.com/JLFCalgary

Instagram: www.instagram.com/justlikefamilyhomecarecalgary

In the second part of our episode on planning for an uncertain future, CWB Wealth Management President and CEO, Matt Evans, continues his discussion with our client and President of Krawford Construction, Terry Tanasiuk. Navigating the pandemic has been difficult on a multitude of levels and this conversation brings to light the challenges of leading a business through uncertainty and the lessons the last few months have taught us.

COVID-19 has demonstrated the unpredictability of the ever-changing world we live in, which is why Terry Tanasiuk continuously stresses the importance of not “biting more than you can chew” as a business owner. In this podcast, he advises leaders and executives to always preserve a safety cushion in order to prevail in the face of adversity, further reinforcing the value of long-term thinking. Drawing from his years of experience in the construction industry, Terry Tanasiuk discusses the importance of sticking to a plan, as patience and persistence will be rewarded in the future. By eliminating the white noise, saying focused, and finding new opportunities, he was able to keep the company structured and on track for success.

Beyond the importance of planning and executing for the long-term, this episode also discusses the different leadership strategies Matt Evans and Terry Tanasiuk have utilized to take care of their teams and ensure everyone felt safe amid a global health crisis. By establishing protocols, setting up a COVID-19 crisis team and offering support through proactive communication, they were able to offer people a sense of comfort. Beyond team management, the strong company culture that was established prior to the crisis ensured that employees themselves were supporting and looking out for each other.   

This episode also discusses the importance of mental health and self care as an executive, leader and business owner. In order to provide support for the team and clients, it’s important that leaders take time to take care of themselves and nurture their well-being so that they can show up to lead the business. By avoiding bringing work home, taking breaks, making time for hobbies and spending quality time with their families, they are able to create a sense of calm and anchor themselves so that they can be solid in their professional lives.

To end this episode, Matt Evans and Terry Tanasiuk share what they don’t tell you about planning for an uncertain future. In a year of volatility and disruption, the value of research, reassurance, reaction and patience stood out. By sticking to the core long-term plan but also pivoting some elements if needed helped them move forward

To learn more about Matt Evans and CWB Wealth Management

Matt’s LinkedIn: ca.linkedin.com/in/mattevanscfaedmonton

Matt’s bio: www.cwbwealth.com/en/about-us/our-team/matt-evans

Website: www.cwbwealth.com

LinkedIn: www.linkedin.com/company/cwb-wealth-management

Facebook: www.facebook.com/cwbwealthmanagement

Instagram: www.instagram.com/cwbwealth
 

To learn more about Terry Tanasiuk and Krawford Construction

Terry’s bio: www.krawford.com/about

LinkedIn: www.linkedin.com/company/krawford-construction-inc.

Planning for the future is one of the cornerstones of good business practice and success, yet the past year has made it clear that even the best laid plans can go awry.

2020 took us through some unchartered territory, with the powerful and damaging emergence of the pandemic in early spring, the lockdown phase and numerous restrictions which were imposed through the summer months, followed by some cautious optimism and a sense that some degree of normalcy might be on the horizon. That optimism has now given way to a renewed dread, with the virus making a formidable comeback, and setting records everywhere for infectious cases. When unanticipated factors, such as COVID-19 and a disruptive bear market, suddenly arise to dominate the environment, it can be difficult to respond to the uncertainty as a business owner.

In this new episode of our financial podcast series, our President & CEO Matt Evans along with one of our clients Terry Tanasiuk, President of Krawford Construction, discusses the challenges of navigating a pandemic from their own experiences, the lessons learned and how they are planning for the year ahead.

Terry Tanasiuk explains how he drew some lessons from the 1918 pandemic, which followed a similar pattern as the present pandemic. This called for taking on small, quickly-completed projects to keep employees busy, while waiting for a return to normalcy. Another approach the business owner adopted was to pivot their strategy by adapting the current situation. Using creativity, communication and flexibility has never been more important.

Matt Evans and Terry Tanasiuk also discuss the importance of having open communication with their team and clients. As they navigated the uncertainty of the environment, they learned the importance of persistence and consistency when leading a business amid a pandemic

CWB Wealth Management

Krawford Construction

Welcome to fall and snowbird season. Normally our clients would be preparing to fly south during this time, and what may be surprising is that some still are. In this episode we'll discuss the ins and outs of travel insurance highlighting what you need to know during COVID-19.

Although we do not recommend going against the government's current non essential travel advisory we provide insights to keep you safe and covered if you decide to travel

CWB Wealth Management

What They Don’t Tell You brings you real conversations that real people have behind closed doors. Because wealth management is more than “just investing”, clients and experts sit down together to talk about these topics that go beyond the numbers and that are usually left out from traditional financial conversations.

CWB Wealth Management

What They Don’t Tell You brings you real conversations that real people have behind closed doors. Because wealth management is more than “just investing”, clients and experts sit down together to talk about these topics that go beyond the numbers and that are usually left out from traditional financial conversations.

CWB Wealth Management

What They Don’t Tell You brings you real conversations that real people have behind closed doors. Because wealth management is more than “just investing”, clients and experts sit down together to talk about these topics that go beyond the numbers and that are usually left out from traditional financial conversations.

CWB Wealth Management