Insights

When looked at through the investment lens, the sale of your business is not the end of the story. Instead, it is simply a new and very different chapter in the “narrative” of your family’s wealth. And that chapter, at least in the broad outlines, should be written long before you sell your pharmacy.

Mike Jaczko, Partner & Portfolio Manager at KJ Harrison Investors, and Max Beairsto, Founder of EVCOR, explain how to plan your pharmacy's financial plan for the year ahead.

The COVID-19 pandemic has created an unprecedented degree of hardship for so many Canadians, both personally and professionally. The country’s pharmacists are no exception, and the challenges they have faced are numerous and complex.

Ontario Pharmacy Association, June 2020 - Pharmacies can emerge from the COVID crisis even stronger than they were before, if they position themselves to capitalize on the opportunities in the market.

“The whole purpose of places like Starbucks is for people is to make six decisions just to buy one cup of coffee. Short, tall, light, dark, caf, decaf, low-fat, non-fat, etc. So people who don’t know what the hell they’re doing or who on earth they are can get not just a cup of coffee but an absolutely defining sense of self.”

Trusts are a valuable planning tool that can be a very important part of wealth management planning for high net worth families.  A well-structured trust can be very effective, allowing for a number of immediate tax strategies and future estate planning strategies.