Wealth Management for Business Owners


Align your clients’ personal goals with the needs of their businesses. Gain insight into the unique challenges entrepreneurs face, and understand the balancing act of personal and professional priorities.


Who can benefit

  • Business owners in your book
  • Prospects with start-ups or established businesses
  • Referrals from clients
  • Connections from circles of influence (accountants, lawyers, etc.)
Communicate your value

Consider timing:

At start-up – or any review for clients with mature businesses

Assist your clients in preparing an effective action plan that includes:

  • Knowing where their business and personal lifecycles intersect – Helping them articulate both sets of goals
  • Understanding challenges of funding retirement from business sale – Finding a buyer; business valuation; a potentially large illiquid asset
  • Aligning business income-generating ability with family needs/priorities (e.g., retirement)
Get in the know
  • There are approximately 2.7 million self-employed Canadians*
  • 46% of students (surveyed nationally) plan to start a business; as only 29% are confident about finding employment in their own field*
  • The majority of business owners manage their business and personal wealth relationships at different institutions – A consolidation opportunity to increase wallet share
  • Over 50% of business owners who manage both business and personal wealth at the same firm were introduced to their Advisor through their business banker – Establish a relationship with commercial account managers, so referrals flow both ways


* Source: BMO Wealth Institute Report, Are Your Business and Personal Finances on Solid Ground?” October 2013

More Practice Management Resources
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August 2020

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