Quote:
Originally Posted by Street Pharmacist
What kind of advisor should I seek?
I own a business that allows for dividends to my spouse as I own a retail store. I'm starting to earn enough that investments will now be more important, but I have a business to use as a vehicle for that potentially. However, it's complicated as it's a franchise so there are rules and limitations and some unique ways in which I get my inncome.
Is there a specialist type of advisor? Or would most wealth advisors be able to help me plan? I'm really a newb here but I really need to start getting some help planning here. Also, I'm in BC so that may matter too
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A good financial planner should be able to help you with that. You want someone who holds the CFP designation (Certified Financial Planner), and they can walk you through the tax issues surrounding the corporation and dividends. I'm guessing that you have an accountant already, and a good advisor will communicate with that accountant so that you can make sure that you're all on the same page and going in that same direction.
It shouldn't be overly complicated, but I'm not entirely sure where the issues and limitations with the franchise are going to factor in there. That's why I'd make sure that you have the accountant in that discussion, at least at the outset.