In this episode of Financial Planning for Canadian Business Owners, Jason Pereira, award-winning financial planner, university lecturer, and writer, interviews Mark Halpern, CEO of WEALTHinsurance.com. Mark Halpern is a well-known insurance advisor in Canada that has differentiated himself by focusing heavily on philanthropy. Mark talks about how business owners can enable their philanthropy through the use of insurance and other tactics.
Episode Highlights:
● 01:05 – Mark Halpern describes the kind of work he does.
● 02:25 – Where do conversations typically go when people come to Mark Halpern about wanting to engage in philanthropy?
● 11:11 – What are some of the opportunities that come from philanthropy?
● 14:15 – What are the tax shelters that are left in Canada?
● 22:00 – Spend. Save. Give. What are you going to do with your money?
● 26:13 – What can people do to maximize the value of a life insurance policy?
● 31:38 – Mark Halpern describes the various kinds of people that like to give.
● 35:11 – You can’t just be a product peddler. You have to be a problem solver.
3 Key Points
1. Mark Halpern has almost 30 years in professional practice. He is a certified financial planner, a trust and an estate practitioner, and also a master financial advisor on philanthropy.
2. Financial planning around philanthropy involves making sure the client isn’t
going to run out of money, crystalizing what their tax bill is going to be now and during life expectancy,
3. With COVID-19, people are much more aware of their mortality and are inspired to do something more significant with their money in a charitable fashion.
Tweetable Quotes:
● “I do estate planning, and that is really looking at things from 30,000 feet up, making sure that people’s financial architecture matches up with their financial furniture and that it changes over time.” – Mark Halpern
● “Tax minimization strategies using tax exemption products that most people don’t know much about. We provide that educational wisdom.” – Mark Halpern
● “Philanthropy, helping people create legacies and also help them convert taxes into charitable donations, and we do this with business owners and entrepreneurs and corporate professionals. We have some sports athletes as well.” – Mark Halpern
Resources Mentioned:
● Facebook – Jason Pereira’s Facebook
● LinkedIn – Jason Pereira’s LinkedIn
● FintechImpact.co – Website for Fintech Impact
● jasonpereira.ca – Website
● Linkedin – Mark Halpern’s Linkedin
● wealthinsurance.com – Website for WEALTHinsurance.com
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