Your Kelowna Financial Advisor

Kelowna Financial Advisor, Dustin T Serviss, RHU has provided an easy to follow video series allowing you speed up your research process when looking for a financial advisor.

As the financial industry shifts it's focus from products to financial advice, the financial advisors of the Peacock Sheridan Group have been ahead of the curve in bringing you the MAPP process. Useful financial advice comes more in the overall strategy an advisor can create, not the product that is sold.

As entrepreneurs ourselves we are very concious your time is extremely valueable. We understand the NOW culture of todays business owners and the proper systems have been built to enable fast question turn around times and our accountability is top of mind.

Are you looking for a system that allows you to gain control of your business and personal financial affairs? I encourage you to explore the MAPP process and remember to check regularly back due to the constant updating of this site.

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Kelowna Financial Advisor in ACTION

Mike and Teresa (Business owners) - Mike is married to Teresa and they have two young children, ages eight and six. Mike is selfemployed as a consultant in the environment industry – he’s a specialist in reducing water pollution and is the key person in the on-going success of the business. Mike has incorporated his business, Mike’s Freshwater Inc., and currently has three employees including himself, Teresa and a junior consultant.More...

The owners – Mike and Teresa

Mike is married to Teresa and they have two young children, ages eight and six. Mike is selfemployed

as a consultant in the environment industry – he’s a specialist in reducing water pollution and is the key person in the on-going success of the business. Mike has incorporated his business, Mike’s Freshwater Inc., and currently has three employees including himself, Teresa and a junior consultant.

The business

Mike’s Freshwater Inc. is wholly owned by Mike and Teresa, with each an equal partner. The company is estimated to be worth several times more than the capital Mike and Teresa have invested in it. The major assets are the people and the future earning potential of the business. The business has been growing very quickly. Mike has experienced a few years of consistent doubledigit growth and is expecting more. He’s even thought of hiring another consultant. The only outstanding loan is a mortgage on the company’s office building.

The two shareholders, Mike and Teresa, do not have a buy-sell agreement in place. They also do not have wills. Subsequently, they have not made any provisions for their children in regard to the business. The business is the only source of income for Mike and Teresa.

Plans for retirement

Mike is counting on selling Mike’s Freshwater Inc. to fund his retirement, but he’s not sure who would be the buyer. He figures this money, combined with some savings, will be enough for their retirement. Neither Mike nor Teresa has used the $500,000 capital gains exemption so this may provide some tax relief on the sale of the business.

Financial security

Mike and Teresa have property insurance but they do not have any life, disability or health insurance on themselves or their employees, and they do not currently have a solid retirement savings plan.

Please contact Dustin to obatin a sanitized copy of the action plan that was derived. In the action plan you will learn about: