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I need sound investment strategies for preserving my wealth.
Richard is a 55-year-old software company CEO in Ottawa with significant holdings in real estate and stocks. He owns a home in Ottawa, a ski chalet in Whistler and a condo in Florida, and is considering purchasing a large investment property. Richard wants investment advice from a seasoned professional to ensure that his overall investment strategy is on track and that his portfolio is giving him the best possible returns, now and in the future. He is wondering about exercising stock options and is planning to retire in five years.
A BMO Harris Private Banking team met with Richard to gain a full understanding of his total financial circumstances, needs and objectives. Together, the team created and executed an integrated plan. His credit needs were reviewed and Platinum Banking experts suggested that he leverage his existing assets through the creative use of credit. An investment strategy was developed to consolidate his investments, reduce tax inefficiencies, advise him on his stock options and allocate his assets appropriately for risk tolerance and investing time horizon, given his retirement goals. A Retirement Compensation Arrangement was set up to augment his retirement savings and ensure retirement security.
Richard’s customized solution included opening an account at our sister firm in the U.S., Harris Private Bank, which now allows him to enjoy seamless cross-border banking at the Harris branch in Florida.
The characters in this scenario are fictional. Any similarities between them and any real person is strictly coincidental.
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