Business Stuff

What High-Net-Worth Canadians Should Expect from Top Financial Planners

July 25, 2025July 25, 2025 by SHABL

Traits, services, and standards that define truly exceptional advice.

When you’ve accumulated significant wealth, your financial life becomes more than just a collection of accounts and investments—it becomes a complex ecosystem. You’re not just thinking about today’s markets, but tomorrow’s legacy. You’re managing multiple income streams, business holdings, charitable goals, and tax obligations that span across jurisdictions, generations, and life events. In short, you’ve moved beyond the basics.

At this level, generic advice isn’t just inadequate—it can be costly. High-net-worth Canadians require a different calibre of guidance: deeper, more personalized, and attuned to both financial complexity and life’s transitions. So what should you expect from a top financial advisor if you’re managing complex wealth?

Here’s a closer look at the traits, services, and standards that distinguish truly exceptional planners.

Table of Contents

1. A planning-first approach—not product-first

One of the most important signals of a high-quality advisor is that they don’t lead with products or performance—they lead with planning.

Top planners understand that your needs can’t be solved by any one investment or insurance solution. Instead, they begin with detailed discovery: What do you own? What do you owe? What do you value? What do you want life to look like now—and decades from now?

The best financial planners deliver comprehensive financial planning that integrates tax, estate, retirement, risk, and investment strategies into a single, coordinated plan. And they revisit this plan with you regularly—not just when markets move or products change.

What to expect:

Multi-meeting discovery process
Cash flow modelling with multiple scenarios
Prioritized short-, mid-, and long-term goals
Ongoing strategy updates—not one-and-done plans

2. Tax efficiency as a core focus

At higher income and asset levels, taxes become one of the biggest threats to wealth preservation. Top financial planners don’t wait until tax season to act—they make tax efficiency a foundational part of every decision.

This includes:

Drawing income from the right accounts in the right order
Structuring withdrawals to avoid OAS clawbacks or AMT (alternative minimum tax)
Leveraging corporate structures and holding companies
Implementing income-splitting or prescribed rate loan strategies
Using charitable giving and trusts to reduce estate taxes

If your advisor isn’t proactively working to reduce your family’s lifetime tax burden, you’re not getting top-tier service.

3. Coordination with your accountant, lawyer, and family

High-net-worth financial planning is never done in a silo. Your advisor should act as the quarterback of your financial team—ensuring your lawyer, accountant, and any other professionals are aligned and communicating effectively.

For example:

If your accountant recommends a corporate reorganization, your advisor should assess its financial and estate implications.
If your lawyer is drafting a new will or trust, your advisor should ensure the wording matches your financial intentions.
If you’re preparing to transfer a cottage, business, or investment property to the next generation, all three professionals should be aligned on valuation, tax timing, and structure.

Top financial planners also help facilitate family conversations—making sure your children understand your intentions and are financially prepared to inherit, not just receive.

4. Deep experience with business owners and incorporated professionals

Much of Canada’s high-net-worth population consists of entrepreneurs, professionals, and family business owners. These clients face unique challenges: succession planning, shareholder agreements, retained earnings, and more.

Top financial planners understand how to:

Help prepare for a business sale (including tax minimization, purification for LCGE, and post-sale income planning)
Maximize after-tax value when transitioning ownership to children or employees
Use corporate-owned life insurance for estate equalization and tax coverage
Evaluate income strategies from dividends vs. salary
Structure holding companies to separate risk and investment assets

They also recognize that business owners often have a blurred line between personal and corporate finances—and bring clarity and structure to both.

5. A personal connection rooted in trust

Wealth isn’t just about numbers. It’s about family, identity, legacy, and values. That’s why the most effective planners take the time to build deep, long-term relationships—not transactional ones.

They:

Listen deeply before giving advice
Make complex topics easy to understand
Avoid jargon and unnecessary sales language
Show up consistently, year after year—even when markets are volatile
Are transparent about how they get paid

This kind of trust doesn’t happen overnight—but when you find it, you’ll notice the difference. Top financial planners aren’t just smart—they’re present, and they earn your confidence through honesty and care.

6. Proactive service, not reactive responses

It’s one thing to respond to a question. It’s another to anticipate it before you ask.

Exceptional planners reach out before tax season, before RIF conversion deadlines, before your year-end bonus, before big market changes. They help you:

Prepare for liquidity events
Revisit insurance coverage as your assets grow
Adjust withdrawal strategies if inflation or health needs shift
Review estate plans when legislation changes
Stay ahead of new CRA rules or planning opportunities

At this level, you shouldn’t have to chase updates or worry that something’s been missed. The best financial planners make you feel ahead, not behind.

7. Holistic legacy and estate planning

For many affluent Canadians, the ultimate goal isn’t just accumulation—it’s impact. Top financial planners help you ensure your wealth is passed on with intention, not just divided by default.

This includes:

Creating estate freezes to lock in tax liability
Planning charitable giving through donor-advised funds or foundation strategies
Building plans that treat heirs fairly (which doesn’t always mean equally)
Protecting assets from marital breakdown, mismanagement, or early access
Using insurance not just for protection, but to pay taxes and enhance legacy

Estate planning isn’t a one-time event—it’s an ongoing process, and your advisor should treat it that way.

8. Customized investment strategies—not cookie-cutter portfolios

While investment management is just one part of a broader plan, it’s still a vital one—especially when the stakes are high. Top financial planners tailor investment strategies based on:

Your personal and corporate tax profile
Liquidity needs and time horizon
Your current and future income sources
Risk tolerance in real life (not just on a questionnaire)
The need for capital preservation vs. growth

They also monitor performance, make disciplined changes when needed, and help you avoid emotional investing mistakes—like panic selling during market dips or chasing hot trends.

Many offer access to private pools, individual securities, and alternative investments—but only when appropriate. The best portfolios are the ones you understand and feel confident in.

9. Multi-generational guidance and education

Wealth isn’t truly protected until the next generation is prepared to manage it. Great planners support your whole family—spouses, children, and even grandchildren—so that your legacy is sustained across time.

This might include:

Financial literacy sessions for adult children
Helping your kids set up their own TFSA or first investment plan
Preparing heirs to receive a business or inheritance
Facilitating family meetings to discuss shared values and intentions

You don’t want to leave your kids confused or unprepared. Top planners help ensure your wealth is a gift, not a burden.

Final thoughts

If you’ve achieved a high level of financial success, you deserve advice that matches the complexity of your life. A top-tier financial advisor isn’t just a portfolio manager—they’re a strategic partner, a family confidant, and a proactive guide through every transition.

The best planners don’t just manage wealth—they help you use it with clarity, confidence, and purpose.

Whether you’re thinking about selling a business, transferring wealth to your kids, minimizing taxes, or simply enjoying what you’ve built, don’t settle for generic guidance. Expect more. Ask more. And work with someone who sees the full picture—because that’s what your wealth deserves.