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Dealing With Special High Net Worth Client Situations


Upon completion of this course, you will gain the knowledge and confidence required to:

  • Access various risks business owners face, and help mitigate those risks through business structure, insurance and derivatives
  • Understand a business owners needs for cash management, risk management, trade finance and credit financing and the bank products that can meet these needs
  • Develop tax efficient income distribution strategies for business owners
  • Help business owners with valuing and selling business and succession planning
  • Identify taxation considerations with respect to personal international investment income
  • Help executives with complex compensation and retirement planning
  • Help snowbirds with financial and taxation planning

What you'll learn

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In this module, you will learn about the importance of protecting small businesses from various risks they may face. You will learn the risks related to different business structures and the importance of choosing a structure that is most suitable for a particular business. We also explain how business owners can protect themselves and their businesses using various types of insurance including, life, disability, property, liability, and business overhead insurance. Finally, you will learn how key person insurance can help with business continuity in cases where a business owner or key employee dies, becomes disabled, or faces claims from creditors.

Topics covered in this module are:

  • Define business risk.

  • Explain how different business structures can be used to protect an owner and the business

  • Explain how a business owner client can differentiate business taxation through choice of business structure.

  • Assess a business owner's need for commercial/property insurance and make suitable recommendations

  • Assess a business owner's need for life insurance and make suitable recommendations

  • Assess a business owner's need for liability insurance and make suitable recommendations

  • Assess a business owner's exposure to market risks and make appropriate protection recommendations using derivatives.

  • Identify the types of treasury risks businesses may face.

In this module, you will learn about the client's corporate banking needs. You will learn questioning techniques to help the client identify their treasury management needs regarding cash management, risk management, trade finance and lending. The module will describe the various tools and products available that you will recommend to the client to address these needs. It explains the importance of the main accounting ratios your lending partner will review in order to determine the type and amount of credit offered to your client.

Topics covered in this module are:

  • Explain the various types of information gathered, and methods of gathering this information, in a client discovery process

  • Describe the organization's structure, products and services available to meet your client's treasury management needs.

  • Explain the various cash management products used to make daily cash management decisions.

  • Describe the various foreign exchange, interest rate and commodity price risks that corporations may be exposed to and the products used to mitigate these risks.

  • Describe some trade finance mechanisms that reconcile the divergent needs of an exporter and importer.

  • Explain why businesses borrow money and the various types of commercial credit facilities available.

  • Describe the most common topics the lending partner will discuss with the client.

In this module, you will learn about the importance of business succession planning. You will learn about various options available for valuing a business, transferring a business, and financing options available to the new owner or owners. Business owners usually want to minimize tax when finally making the decision to leave their business. Therefore, various tax strategies will be addressed in this module.

Topics covered in this module are:

  • Identify reasons why succession planning is important and why it is not done by many business owners.

  • Suggest viable options for business succession to your small business clients.

  • Describe various valuation techniques and approaches.

  • Differentiate different sources of business sales financing

  • Describe several ways to fund a buy-sell agreement.

  • Describe the techniques available to avoid or defer payment of taxes when planning for the succession of a client's business.

  • Describe the role and duties of an executor in winding up the business of someone who is deceased.

In this module, we discuss tax planning for small businesses in the context of recent legislation that places new limits on the ability of companies to implement established strategies. You will learn about the effect of the legislation on traditional tax-planning strategies such as income sprinkling, deferring taxes by holding passive investment income, and taking advantage of tax refunds on dividend payments. You will also learn about the tax planning strategies that remain available, including modified strategies based on the new rules, as well as traditional strategies that can still be used.

Topics covered in this module are:

  • Explain how tax changes impact small businesses.

  • Explain salary versus dividend planning

  • Summarize tax planning strategies for business owners.

In this module, you will learn about the taxation of income from an international perspective. We focus in particular on personal investment income and the methods investors use to avoid double taxation. We also discuss the domestic and international laws that various countries have put in place to prevent loss of tax revenue.

Topics covered in this module are:

  • Describe double taxation and the various measures used to prevent the non-declaration of assets

  • Describe the sources of international tax law and how they interrelate, as well as various tax treaties.

  • List and describe the various jurisdictional tax requirements as they relate to residency.

  • Summarize the rules for source country taxation.

  • Describe the various tax relief exemptions under domestic tax law.

  • List and describe the most commonly used offshore entities.

  • List the various treaty havens and special concessions.

  • Describe the various anti-haven and anti-avoidance measures.

  • List the measures used to prevent the non-declaration of foreign assets.

In this module, we cover important information that Canadians living or working in the United States for any length of time should know about U.S. taxation. You will learn about U.S. income tax laws and tax issues around purchasing real property in the U.S. as a Canadian citizen. You will also learn about retirement and estate planning issues for the so-called snowbirds who spend time every year in both countries. Furthermore, we discuss the different types of insurance medical and property insurance snowbirds should have and the differences between insurance provisions in the U.S. in Canada. Finally, you will learn about the requirements for Canadians seeking permanent residency in the U.S., whether as a lone citizen or as spouse married to U.S. citizen.

Topics covered in this module are:

  • Summarize the U.S. taxation rules for Canadian snowbirds.

  • Calculate the substantial presence test

  • List forms of ownership used by snowbirds

  • Explain how to purchase and finance a U.S property

  • Explain how snowbirds are taxed when they earn rental income or when they sell their U.S. real property

  • Determine how various forms of U.S. investment income are taxed in the U.S. and Canada.

  • Explain what is needed by a snowbird who needs to file a U.S. tax return.

  • Explain what to consider when managing a snowbird's portfolio.

  • Explain how snowbirds qualify for Canadian and U.S. social security benefits.

In today's highly competitive financial services landscape, employers attract and retain key personnel by offering generous compensation packages. As a financial advisor to executives and senior managers you must be able to guide these wealthy clients through the various features of their compensation and help them make good financial choices.

In this module, you will learn about the key components of executive compensation, including base pay, bonuses, stock options, deferred compensation, executive benefits and alternative retirement plans. You will be able to explain to your clients the various features of their compensation package and point out the taxation and financial planning issues and consequences that will need to be considered.

Topics covered in this module are:

  • Discuss the reason for the growth of bonuses rather than base pay and how each are taxed.

  • Provide examples of basic employment benefits and how each are taxed.

  • Describe the features, taxation and exercise options of Canadian and US stock options.

  • Describe the growth, features and taxation of deferred share units.

  • Describe the features and taxation of deferred cash incentives.

  • Discuss the components and taxation of executive benefit programs.

  • Discuss the use and taxation of supplemental executive retirement plans.

  • Describe the features and taxation of other retirement vehicles offered to management and executives.

Test Format  
Tests 1 Per Module
Test Format Online
Test Length May vary - typically 20 to 30 questions
Question Format Multiple Choice
Attempts Allowed Per Exam 3*
Passing Grade 70%
Enrolment Period 1 year

Continuing Education (CE) Credits

You have been provided with IIROC credits in the above table. Click the links below or the buttons at the top of the page on the right side to access full CE accreditation information including IIROC and other jurisdictions. To search for specific course information, press Ctrl + F and then enter the course name to search the document for the information you are interested in.

National/Provincial (Excluding Quebec)
Download CE Chart (PDF, 163 kb)

Quebec (IQPF/CSF)
Download IQPF/CSF Chart (PDF, 182 kb)

Please note: While CSI makes every effort to ensure that the information is up-to-date, we are unfortunately unable to fully guarantee its accuracy. The information listed in the charts above may be subject to change.

For details on the organizations and other information on CE Credits listed in the above charts, please click here.