Why Life Insurance is an Important Part of High-Net-Worth Family’s Asset Allocation

Watch Bloom Investment Counsel Inc.’s Kevin Willis join Al G. Brown & Associates’s Elli Schochet for a discussion on why life insurance is an important part of high-net-worth families’ asset allocation and how to take advantage of this asset class to protect, preserve and build wealth.

Continue reading

3 Reasons Why You May Wish to Consider a Prenup in Canada

Are you planning to get engaged, or are you recently engaged? A prenuptial agreement (or “prenup” for short) may be the last topic you or your partner want to have a conversation about right now; however, when two people come together, it is a partnership, and you are joining your assets. Stay informed—here are three reasons why you may wish to consider a prenup.

Continue reading

Building Your Wealth: Is it Better to Rent or Buy a Home?

When building your wealth, is it better to rent or buy a home? Contrary to popular perception, renting doesn’t necessarily mean that you are throwing money away every month and buying doesn’t necessarily mean that you are building more wealth in the long-run. It all depends on what you do with your money—subject to current interest rates, the state of the housing market, and the state of the economy. Here are some monetary considerations connected with the “rent vs. buy” decision.

Continue reading

Canadian Wealth Management Industry: Past, Present, and Future (Updated 2022)

In Canada, the use of the term “wealth management” in the financial services industry took off in the early 1990s.

Today, wealth management is the largest growth component of most Canadian financial institutions. We only need to look at 2021 and 2022 Q1 earnings reports to see that the wealth management divisions of Canadian banks and mutual fund companies are primary drivers of their high revenues.

Continue reading

What is a Family Office and Should I Consider Using One?

Family offices are by no means a recent phenomenon. The concept of a family office approach to managing wealth can be traced back to monarchs appointing stewards to manage royal wealth.

This type of wealth administration service later filtered down to the upper nobility, creating the enduring concept of engaging highly competent and experienced professionals to manage, preserve and build wealth and expand legacy—akin to today’s family offices.

In this article, we discuss family offices with particular focus on the difference between a family office and a traditional wealth or investment management firm, and outline two considerations that may help you decide whether a family office approach to managing your, your family’s and/or multigenerational wealth is for you.

Continue reading


© 2022 Bloom Investment Counsel, Inc. All rights reserved. E & O E.

Powered by W3Schools