Timothy Ross's Posts (522)
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Marriage breakdown and removal of spousal designation
See my summary at the bottom, read the content and context first, it can be a little confusing, there is two issues here ++++
There must be no spousal or common-law partner contributions to any of the annuitant's RRSPs (i.e., RRSPs held with any issuer) for the year of the request and the two previous years. The annuitant's written statement should certify that the spouse, common-law partner, former spouse, or former common-law partner did not contribute to any of the annuitant's RRSPs in the calendar year of the request nor in the two immediately preceding calendar years. No withdrawals, There must be no withdrawals from the spousal or common-law partner RRSP during the year of the request
http://www.jamiegolombek.com/articledetail.php?article_id=555
Unfortunately, due to the Canada Revenue Agency's concerns regarding the "spousal RRSP attribution rule," this isn't as easy as you think. The special anti-avoidance rule is
designed to prevent short-term income splitting. Simply put, if the annuitant spouse withdraws any funds from a spousal RRSP within three calendar years of any contribution being made, the withdrawal will be attributed back to the contributing spouse and taxed in his or her hands.
Luckily, this rule does not apply if the spouses or partners are living separate and apart at the time of withdrawal by reason of the breakdown of their marriage or common-law partnership.
Exceptions
The rule that requires you, the contributor, to include certain amounts from spousal or common-law partner RRSPs, spousal or common-law partner RRIFs or, a spouse’s account under an SPP as income does not apply to the following situations:
- At the time of payment, or when we consider the payment to have been received, you and your spouse or common-law partner were living separate and apart because of the breakdown of your relationship.
- At the time of payment, or when we consider the payment to have been received, you or your spouse or common-law partner were non-residents of Canada.
- The amount is a commutation payment that is transferred directly for your spouse or common-law partner to another RRSP, a RRIF or an SPP or to an issuer to buy an eligible annuity that cannot be commuted for at least three years.
- The contributor dies in the year of payment or the year we consider the payment to have been received.
- We consider the deceased annuitant to have received the amount because of death.
In any such case, the annuitant spouse or common-law partner includes the payment in income for the year he or she receives it or is considered to have received it.
In all cases, the tax deducted has to be claimed by the individual to whom the slip is issued. In most cases, the information slip issued for the withdrawal will be in the name of the annuitant. However, report the income according to the calculations completed in Parts 1 and 2 of Form T2205.
+++++
Ok, so , don't withdrawal from a spousal until after separation has been well documented, to avoid the taxes being taxed on the contributors return. You may have to maintain the spousal rsp designation for up to 3 years after the last contribution, but that does not prevent withdrawals and the income from being taxed in the spouses hand that has the account after separation
Some commentary from our peers at Collins Barrows
"AgriInvest and AgriStability are two government subsidy programs that have been extremely valuable to Canadian farmers in recent years. AgriInvest allows farmers to put a percentage of their sales into a fund, where these contributions are matched by the government. The idea is to put money away in your best years, creating a cushion if you are ever short of cash or need extra funds to pay for equipment and supplies.
With AgriStability, your current year is compared to an average of three of the past five years, removing the best and worst years from this equation. If you fall 30 per cent below the average (in other words, if you have a really bad year), you are eligible for additional funding from the government. Both of these programs continue to be extremely valuable to farmers, but they have undergone recent changes that are worth noting."
Canada Resource Site
http://www.agr.gc.ca/eng/?id=1479760073698
Other Programs
http://www.agr.gc.ca/eng/programs-and-services/?id=1362675650980
Every once in awhile we get the request about investing offshore. It's a complicated matter and I know there is a number of considerations.
First, you wish to change your residence , this link will give you some perspective of what might be required, investment in a property or business
For business's wishing to get their income taxed at lower rates, you will need to do some strategic planning if you are desiring to have a legal tax saving structure. Will add some tips on this as we develop this resource. Some firms specialize in this and will search these out. At first glance, you will need to have a significant taxable income to make this a practical course of action, fees and complexity will screen out many and most people will not be in such a place to utilize such structures. Implementing this stuff is typically kept pretty secretive as CRA is always on the hunt for people doing it wrong. Reflecting on the last one we got help with, the fees started at $7500 for the idea of the plan and then there would be the implementation costs. The whole process was under a shadow of secrecy. That was a few years ago, but I suspect the principals remain the same. You would want a very strong desire to go through the hoops to save tax.
Dealing with your RSP's should you leave Canada
"If you retire abroad, RRIF withdrawals and annuity income are subject to Canadian withholding tax. That tax rate depends on your country of residence in retirement and the withholding tax rate is generally 15-25% depending on the tax treaty (or lack thereof) between Canada and the country you live in at that time.
Lump-sum RRSP withdrawals are generally subject to 25% tax.
Most countries have a foreign tax credit mechanism whereby your Canadian tax withheld at source is credited against your foreign tax payable on the income in your country of residence. This prevents double taxation."
Off Shore Investment Warning
Because of the shroud of secrecy that is common practice and the complexity of the structures, there is high risk of scamming. One would have to be super diligent in the matter. We don't endorse this, but write about it as a way to help understand it better and hopefully protect one from it.
These sites have a number of contacts and articles on the topic
http://www.offshoreinvestment.com/
Some of the history of these tax havens is interesting , take Liechtenstein as an example https://en.wikipedia.org/wiki/Liechtenstein
Liechtenstein is situated in the Upper Rhine valley of the European Alps and is bordered to the east by Austria and to the south and west by Switzerland. The entire western border of Liechtenstein is formed by the Rhine. Measured south to north the country is about 24 km (15 mi) long. Its highest point, the Grauspitz, is 2,599 m (8,527 ft).
Belize , one hears lots about Belize, here is an example of one company that provides the services, similar to incorporating in Canada, but the ongoing maintenance fees are substantial in my humble opinion. If you have any substantial assets one would have to weigh the tax benefits against the fees to maintain.
https://www.orionibc.com/offshore-company-formation-belize
| FIRST YEAR - from date incorporated to 31st of December | |
|
IBC Incorporation Fee ( Inclusive of Government Fees) |
USD$675 USD$1,600 USD$900 |
Registered Agent / Office Fee |
USD$300 |
| SECOND & SUBSEQUENT YEARS - from January 1st following the year of incorporation | |
| Annual Renewal Fee (Inclusive of Government Fees) (A) IBC's with Standard Authorized Capital of USD$50,000 or Less (B) IBC's with Authorized Capital over USD$50,000 (C) IBC's having shares with no par value (and Authorized Capital of USD50,000 or less) |
USD$450 USD$1,500 USD$700 |
| OTHER SERVICES (optional) | |
|
Power of Attorney |
USD$150 |
Some insight as to why Belize might be useful
https://www.orionibc.com/offshore-financial-services
( I keep reminding everyone, that I am not endorsing any of this, pure information purposes only)
Why Offshore Would Be Considered
1. Tax Minimization
2. Asset Protection
3. Confidentiality
4. Special Features
5. Great Flexibilities & Easy Maintenance
Pro & Cons Article
https://www.investopedia.com/articles/02/020602.asp
Advisor.ca is a good publication that I have some confidence in
http://www.advisor.ca/tax/tax-news/understanding-offshore-investments-2705
This is the first installment, I will add more as I continue research on this topic, please add your comments that can help us better understand the challenges and advantages , it's not all about taxes
As Christmas fast approaches , I see lots of tears being shed in my social feeds, for many I feel that sadness press close to my own heart as I miss them too. To help me deal with all the blessings that reflecting has on us, I thought I would gather all the good articles and memories I find here on this blog posting, so when we get to that place where we don’t know what to say, it will be here, spoken and written to bless others on this journey. In our business, there is an old saying, death and taxes, you can count on that. Two painful topics. https://www.allworship.com/christmas-heaven/
Came across a neat video from Telus and there was some real great tips in it. One item caught my eye and it dealt with budgeting.
https://www.youtube.com/watch?v=J5mA_dFtFSc&list=PLhhVyaUmOQupOP7yTxqUkV1H662iKKjH0&index=33
Stephen recommended a couple online tools. The first was You Need A Budget, it cost $83.99 USD a year , they give the average per month, it's unfortunate that they don't simply charge monthly, it would be a better business model in my mind.
https://www.youneedabudget.com/method/
Check out the 4 rules
1. Give Every Dollar A Job
2. Embrace Your True Expenses
3. Roll With The Punches
4. Age Your Money
Money Coaching , great idea, a couple hundred dollars a month for coaching, buy the book option as well, some great blogs and tips
https://mevest.ca/money-coaching/
https://www.facebook.com/lesley.scorgie.3
I had some thoughts about the video, about digitizing money and specifically that you don't need to pay fee's section of the video, see below, no guarantee that they will not hid my thoughts. Interestingly they had 47,716 views of the video but only 3 comments over the last 5 days, and I was the third, so what does that mean ? I don't know, just an observation.
Timothy Ross 1 second ago Nov 28 2017 6:30pm
Great video series, love the flow and the encouragement in them, they touch on a lot of great stuff, however the negative side is it discredits the value that a good financial advisor brings to the equation, it's not just about the numbers. Some of the claims in the video's are not really true, they are frankly and needlessly shaded,. The premise that the index is an exact mirror is simply not true, the cost of the ETF's that are ultimately being promoted if you did a little deeper are around .15% for expenses and the management fee is .40% , so total is .55 % MER as per one of the ETF's being promoted. Not sure why they don't just say it will be .55% or some range , less that the market every time is interesting. Yes human's make errors, but robots never make error's and markets are very rational, so there is a few parts to the equation that you got to take with a grain of salt, the realty is human's the people investing will make errors when markets fall and the robot is not going to cut it, you need an advisor to help you from making big mistakes. The websites are beautiful, flow nicely, very slick and inviting. The purpose of the video series is probably to promote robo-advisors, etf funds , sell books for the speaker, get some money coaching from a fee for service advisor program, Telus is maybe even getting a small participation fee. All of which is ok, just figured they would be more straight forward about it. Again, love encouragement of people to get started and to do it, just be more straightforward and don't bash those that work hard to serve their clients and communities. IMHO Tim Ross #ImprovingFutures
Well, the count down to Christmas is on ! with less than a month to go, the birth of Jesus will be added to the ledger of time once again and Santa will get some credit in the hearts of many children, and the Spirit of Christmas will once again touch hearts and lift souls.
I have been tasked to make stuffing for the Christmas Dinner this Friday at my church. So I have a few of the ingredients purchased and now have to give some thought to how I might prepare this dish. I remember a number of years ago doing the stuffing, and I kinda liked it, lets see if I can do it again!
In the mean time, here is a list I found today, have not searched through it, might be some treats in there that you may want to try.
https://www.msn.com/en-ca/foodanddrink/foodnews/101-christmas-recipes/ss-BBFvtlR?ocid=spartandhp
I have an order in with a friend for a pecan pie should one appear at his church's bake sale this Saturday, and as back up plan, I'm in for a dozen butter tarts !
If anyone wants to drop any of these off at the office before Christmas, you have my permission in advance.
Thanks again
Tim
#ImprovingFutures
Our office at Brock Shores Financial located in Tincap will be closed starting Wednesday Dec 20th , reopening Monday Jan 8th 2018 .
Some of the team may be stopping in from time to time during the holidays as we prepare for the new year in-case you see some activity. I will be monitoring my email at advisor@timothyross.com as I always do, so please reach out that way and I will do what I can to help. Many of us will be travelling and enjoying times with our family, close friends or simply exploring the shorelines on our adventures.
Our investment Firm's head office hours are listed below, in case of a desperate financial requirement for mutual fund business they are our backup team and available to take care of paperwork in our absence.
Please contact me first and we will connect with our administrative folks in Kingston if such a situation arises.
Wishing everyone a Merry Christmas and Happy Prosperous Peaceful New Year !
Timothy Ross, CEO & Founder
Brock Shores Financial
#ImprovingFutures
Christmas Hours Dealership Professional Investments 2017
Hello Everyone, Kingston Office Hours
We will be open all of the business days this year during the Christmas holidays.
December 22nd – we will look to close a little early. Nothing set in stone, but most likely closing around 2pm.
December 27, 28 – Open regular business hours
December 29th - we will look to close a little early. Nothing set in stone, but most likely closing around 2pm.
January 2nd – Open regular business hours.
Thank you,
Mark Tavares, Compliance Officer
Professional Investments (Kingston) Inc.
Toll Free: 1-888-548-8868 Fax: 613.384.8919
Cool Words - Harbinger
Definition
1 : one that initiates a major change : a person or thing that originates or helps open up a new activity, method, or technology : pioneer
2 : something that foreshadows a future event : something that gives an anticipatory sign of what is to come
Did You Know?
When medieval travelers needed lodging for the night, they went looking for a harbinger. As long ago as the 12th century, harbinger was used to mean "one who provides lodging" or "a host," but that meaning is now obsolete. Later on, harbinger was also being used for a person sent ahead of a main party to seek lodgings, often for royalty or a campaigning army, but that old sense has largely been left in the past, too. Those sent ahead would announce the approach of who was following behind, and that's how our modern sense of harbinger (from the Anglo-French herberge, meaning "lodgings") acquired the sense with which we are familiar today, that of something which foretells a future event.
In many ways, "Life's Major Goals" is speaking to future events in your life, the harbinger of the reason we do what we do with our process and vision of providing Omega Stewardship through our Family Office, here at Brock Shores Financial ~ TLR
We help families plan and implement strategies to accomplish "Life's Major Goals"
- Tax Smart Planning & Investing
- Worry Free Retirement
- Education of Our Children & Grandchildren
- Quality Care For Our Parents
- Meaningful Financial Help For Our Loved Ones
- Meaningful Legacy
I came across this cool video with Morgan Freeman in it, enjoy, looks like he is on adventures that can only e achieved in a Worry Free Retirement
https://www.youtube.com/watch?v=p_gv6fRejLM&index=32&list=PLhhVyaUmOQupOP7yTxqUkV1H662iKKjH0
Good question, good answers
A message we all should consider, quite frankly, by the grace of God goes I. Now there has been times that we have had to help people walk through these waters. This can be a very scary, frightening time, and yet, a liberating time in ones life when it is all taken away. When we use that word "All" we are often speaking about the money, the assets, and we miss the point that all is not everything, there is something's that can not betaken away from you. Will make a list of those none all things some day, and I encourage readers to add to the list, I look forward to reading what those treasures that can not be taken away from you would be. ~ TLR
https://www.desiringgod.org/articles/what-if-god-takes-it-all-away
What If God Takes It All Away?
Trusting Him Through Financial Struggles
Recently we drove past our old house for the first time since downsizing. Immediately, our four children began rehearsing memories, noting every part of the house that they missed. Once again, they struggled to understand why we had to give it all up.
As hard as I tried to respond with confidence that it was the right thing for our family to follow God’s leading — even at the cost of financial comfort and a home we loved — deep down, I wrestled with my own nostalgia and questions.
Living on Far Less
Rewind six years when we were living well below our means, carefully planning for the future, and seeking wise counsel to be good stewards of our rising income. But, in his strange sovereignty, God chose to teach us how little control we really had.
Even as our oldest child’s neurological challenges seemed to consume us, other pressures were mounting. My health continued to decline and my husband’s on-call job often left me feeling like a single parent. Medical bills increased, and our confidence in the future was replaced by a growing reality that our family was in crisis.
God led us to a place where there was no other option but to let go of all we had saved, planned, and worked hard for. Within a few short months, my husband took a new job that brought significantly less income (but allowed him to be home more often). We sold our dream home, moved in with my parents, and were completely unsure of what the future held.
Am I Trusting in Prosperity?
Where did we go wrong? Maybe somewhere, but maybe nowhere.
Although God commands us to live wisely with what he entrusts us with, he ultimately asks us to trust him above all else, no matter the cost.
Through all of this, even in our desire to use our resources for God’s glory, he has taught me to search my heart by continually asking three questions.
1. Do I live in fear of losing my comfort?
If we desire worldly comforts, and fear earthly loss more than we fear God, then we will likely make decisions and plans according to what we think will keep our lives most comfortable. Looking back, I can now see the Lord’s severe mercy in overturning the plans we had set for our lives. He removed all of our earthly means to find comfort and security in this world. It was painful, yes, but it was also freeing.
As our eyes become increasingly fixed on fearing the Lord and trusting his promises for us, we can live in greater freedom to plan and live wisely according to God’s plan, rather than living in bondage to our own.
2. What legacy am I leaving?
Where we pour our time, energy, and money is a part of building the legacy that we will leave when we are gone. Are we working so many hours for our family’s comfort but are never there to invest in them spiritually and relationally? Are we so focused on planning for the future that we miss how God is calling us to live radically in the present? Or, does our lifestyle suggest that this earth actually is our home?
I am not saying we should not enjoy the gifts that God has given us, but we are commanded to be good stewards of what God has entrusted to us. We should be frequently asking the Holy Spirit to examine our hearts and show us where earthy treasures are motivating us more than eternal ones, that we might pursue righteousness above all else (Matthew 6:33).
3. Whether in prosperity or need, is Jesus enough?
We should plan and save — but is Christ enough if he chooses to take it all away?
In a two-year period, we went from debating how to redesign and remodel our kitchen to wrestling with how we would feed our family of six on food stamps. Both seasons have presented different challenges. In comfort, it was a constant temptation to put our confidence and joy in the false security that wealth gave us. While we desired to honor Christ with all that we had, if I’m honest, it was far too easy to be distracted by the excess.
Far Greater Treasure
Admittedly, the past two years have tested us in other ways as well. We’ve wrestled with trusting the Lord’s leading when it seemed only to lead to greater need and suffering. We were tempted to envy the seemingly comfortable lives of those around us. We’ve questioned why God would allow us to lose everything when we earnestly sought to honor him in our steps. We have struggled to understand why God has taken away provisions for the necessary treatments and doctors that our family’s chronic health issues require. And, at times, we have struggled to see God’s provisions and undeserving gifts because we were so focused on what we had lost.
Yet by his grace, he has continually shown himself faithful, providing in his way and timing, while changing our hearts along the way.
In whatever season you find yourself, hold firmly to the truth that Christ is and will always be enough (Philippians 4:19). He is a greater treasure than anything else this world can give. Sometimes, it may take losing everything on this earth to truly come to believe that with every ounce of our being.
Plan for the Future — But Don’t Hope in It
Now there is great gain in godliness with contentment, for we brought nothing into the world, and we cannot take anything out of the world. But if we have food and clothing, with these we will be content. (1 Timothy 6:6-8)
We are commanded to be content today because none of us have a guarantee of what tomorrow holds. Therefore, as Christ-honoring as it is to steward our resources wisely — to plan and save for an emergency fund, home, and retirement — we must always be on guard that we are not placing our hope in them. As we grow in understanding how temporary this life really is, we will learn to hold more loosely to our plans, live in freedom rather than fear, and be willing to spend ourselves more radically for the Lord.
When we find ourselves with a comfortable bank account and all of our efforts panning out as we hoped, we must be careful that our security and joy is not found there. We must boldly ask the Lord to both keep us dependent and to help us, in any situation, to glorify him. May we be slow to judge those who are struggling (not assuming it’s their own laziness or poor judgment), and quick to see how God’s grace has provided for us abundantly for his purposes.
You Can Lean on Him
If, on the other hand, you are reeling from the loss of what you worked hard for, or are carrying the burden of an uncertain future, take heart and rest in the one who sees your needs and is faithful to provide.
May this be a season that you see and savor an increased desire and love for Christ as you lean on him for your current and future needs. Be careful of giving way to resentment or envy towards those who appear to be more comfortable. Your intense season of need may be the greatest gift of grace that God has given you for his eternal purposes.
Why do we say time is money?
1 question, 3 ideas to discuss with your client:
“Smaller, sooner” is better than “larger, later” ...
Due to the way returns compound over many years, it’s more effective (and easier) to start investing small amounts earlier in life rather than trying to catch up later with larger amounts.
The right time to invest is… always
You can never guess when markets are going to rise or fall, so trying to “buy low” and “sell high” is foolhardy. A better strategy is to spread your risk over time by investing regularly, regardless of what the market is doing. This is known as systematic investing.
Investing is inventing your future
To get motivated to start investing, you should first identify the financial goals that are important to you: investing then becomes your way of achieving them.
https://en.wikipedia.org/wiki/Ning_(website)
Ning is an online platform for people and organizations to create custom social networks,[5][6][7] launched in October 2005.[4] Ning offers customers the ability to create a community website with a customized appearance; Besides basic functionality, like photos, videos, forums and blogs, it has extra features: Events, Audio, Polls, Broadcast messages, Paid Access, etc; plus integration with Facebook, Twitter, Google and Yahoo!.[6][8]
Ning was co-founded by Marc Andreessen and Gina Bianchini. By June 2011 there were over 90,000 social websites running on the Ning Platform.[9][10]
Quality Care for Our Loved Ones, one of Life's Major Goals
I came across this article today and thought it would be of interest. A number of years ago, I help create a documentary called "Puzzled By Home Care" we tried to address this problem. Unfortunately we never brought it to market. I suspect a lot of the information will still be relevant. If I can find it, I will share. ~ TLR
http://www.cbc.ca/cbcdocspov/blog/my-mom-spent-a-long-thankless-decade-as-my-dads-caregiver
"Like so many caregivers, my mom was burned out, not only from the daily stresses of being a nurse, driver, cook, coordinator and maid but from trying to navigate a healthcare system that isn’t prepared for so many dementia patients and unable to provide for the needs of the caregiver. Sure, she was stubborn at times and probably could have asked for more help, but my dad was less easily agitated when she was with him, which is so often the case with dementia patients. My mom was his everything."
"I started the documentary The Caregivers’ Club because I was angry at the healthcare system and wanted to expose its deficiencies. As I followed three courageous at-home caregivers, I discovered that they are the true heroes, the foundation of our healthcare system, providing good care and dignity for people with dementia."
Airing Sunday, January 14, 2018 at 9 PM on CBC-TV
http://www.cbc.ca/cbcdocspov/episodes/the-caregivers-club
The Caregivers’ Club is a compelling and cautionary tale, one that’s only just beginning for an entire generation.
Through Back Thursday - Circa 2007
Going through my archives I came across some great memories. Some building blocks of Timothy Ross & Associates. This is one of the foundation documents that I produced in March 2007 where I summarized the concept of the process that I was building call Omega Stewardship.
This document is in it's raw form, the inside view, the bricks that built the business. ~ TLR
Omega Stewardship ® "Providing the Multi - Family Office Solution"
The Reason
1. Compliance & Disclosure
2. Maintain & Enhance Existing Client Relationships
3. Convert Prospects to Clients
Who, What, When, Why, Where
Omega Stewardship is a brand developed by Timothy L. Ross, a Financial & Tax
Advisor, who has been practicing and serving clients since 1988. Mr. Ross,
created his own designation, Family Advisor, to distinguish himself in a
crowded financial services market.
He has developed several brands, and slogans to enhance and differentiate
his business from others in the industry.
"Where Client Goals Become Our Goals"
"Merchant of Hope & Prosperity"
"Family Advisor"
"Steward of Faith, Hope & Prosperity"
"Helping Families Acheive ... Life's Major Goals"
"Gaurdians of Your Families Wealth"
"Omega Stewardship"
Tim's creative and imaginative mind has been able to take some of the best
of the best ideas and integrate them into a practice standard that allows a
very comprehensive and holistic approach to financial planning. His process
is geared around complete personalization of all key communications with
clients.
Mr. Ross and others in the industry believe that this system will be a boom
for any advisor that has a desire to streamline their client management and
acquisition process. The tools combined with professional competancy will
ensure a successful, profitable, meaningful , well run practice.
Compliance Dream
The system integrates all compliance matters to help reduce litigation and
misunderstanding between advisor and client. The full disclosure engagement
letters, risk profile, numerous disclosure documents required today,
investment policy statements and ongoing educational matters helps to
control and reduce risk. The practice standards that drive the client
contact process ensure proper notes, documents, meeting guides and activity
reports that allow an advisor to maintain an active log of all
communications.
Your compliance officer will sleep well knowing you are providing Omega
Stewardship.
Maintain & Enhance Existing Client Relationships
Omega Stewardship helps to consolidate all parts of a clients financial
plan, current and future. Integrating these matters in a tangible way,
involving the client and advisor in what we call a work in process, the
process is never finished, as life is always evolving and so the financial
plan must as well. Clients become advocates of Omega Stewardship and the
advisor providing this level of quality care and service. The system will
uncover hidden opportunities and the client will see were they need help as
well, it is a work in progress. You will have deeper more satisfying
relationships and you will make a real true impact and difference in your
clients and their families life. You automatically become more referral and
they will become advocates for Omega Stewardship and you as the advisor.
Converting Prospects to Clients
"We have a process, and it makes all the difference" When a prospect sits
down with you and they see you have prepared for the meeting, they know they
are working with a professional who knows her business. When they see what
you have already prepared for them, even before you have done business, they
will know you are serious and they will want to work with you. No one else
will be able to provide what you just offered, it is tangible, they can see
it, touch it, with coaching they will feel it. That will give you an edge
and help convert all the business to your management. It will simply be hard
for them not to give you their business.
We practice Continuous Improvement. Creating efficiencies, documenting processes, procedures and this helps to reduce potential confusion that can occur in a busy family office practice. This helps to raise the bar for the client experience.
--
Timothy Ross
Family Advisor ® , since 1988
Branch Manager Professional Investments
"Steward Of Faith, Hope & Prosperity" ®
"Where Client Goals Become Our Goals" ®
www.timothyross.com www.youradvisorcares.com
"Helping Families Achieve ... Life's Major Goals" ®
"Life's Major Goals"
1. Tax Smart Planning & Investing
2. Worry Free Retirement
3. Education of Our Children & Grandchildren
4. Quality Care for Our Parents
5. Meaningful Financial Help for Our Loved Ones
6. Meaningful Legacy
Sincerely,
Timothy L. Ross,
Family Advisor ®, since 1988
"Where Client Goals Become Our Goals" ®
"Helping Families Achieve... Life's Major Goals" ®
OMEGA STEWARDSHIP ®
Guardians Of Your Family's Wealth"
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As I'm going through my email today and yesterday, I received a number of encouraging messages and thoughts about being Thankful and Gratitude. I'm going to list the last one I got here. I think we can all use a little thanksgiving in our life and be motivated by that. At Brock Shores Financial, we are all about #ImprovingFutures , building on a foundation of thankfulness. Tim Ross, CEO & Founder From Suzane Hart, Suzane leads a dynamic health networking home based business, she does consulting in this area and has some great marketing ideas. Her message "Fit,Fab & Fulfilled" just inspires. Now ee met several years ago at a BNI meeting at Buds on The Bay in Brockville. My family joined her network and we built a little team, unfortunately we never stuck with it. In a network marketing business you have to stick with it, I had other priorities in my business, by not sticking with it, I did loose out on potentially a lot of dollars as many people I know eventually got vested into that company and they enjoy the products and the income it generates for their families, it's a lot of work, and you have to stay for the long term. So I get little reminders and ideas from Suzanne through out the year. Here is her thankful message and a little gift that can help you. |
As I woke this morning I was filled with gratitude. I was present to all the ways both big and small that my life has been blessed. As I watched the sun come up from living room window I gave thanks for all the people who have touched my life. So in the spirit of gratitude on the beautiful thanks giving day, I wanted to say thank you Timothy, for blessing my life.
Here is a link to her gift, a great assessment tool to help you be a more dynamic productive leader, check it out
If you ever decided to start a business, be it a network marketing business or a more traditional business, touch base with us here at Brock Shores Financial, we love the creation of a business and the entrepreneur spirit that you need to have. Setting up properly gives your business a great chance to thrive and capture all the tax advantages that a small business offers.
http://suzanhart.com/wp-content/uploads/Hartzone-Leadership-Assessment.pdf
What is on a Leadership Scale ?
Commitment
Urgency
Initiative
Passion
Responsibility
Visionary
Solution Focused
Courage
Guiding Principles
Objectives
Integrity
Persistence
Contribution
Influence
Power
Attitude of Gratitude
Learner
Self Mastery
Communication
Conflict
These are some of the heavy weight items on the scale, download Suzan's tool and see where you are at. Then you can make better decisions moving forward. be sure and make any comments below that you would like to add, this is a community that we wish to inspire and build people up, so your future is improved. It's not all about the money, as Jim Rohn would say, money is just easy to count if your keeping score, it's not the only value, some things are priceless, yet hard to count.~ TLR
Jim Rohn Bibilical Leadership Lessons : Motivation Infusion #1
https://www.youtube.com/watch?v=C25P6EMIs5g&list=PLhhVyaUmOQupT95UiO_74c0-wATcRxceV&index=1
Smart people:
1 change their mind*
2 read more
3 write more...
4 talk less, but say more
5 stay teachable
6 show gratitude
7 ask lots of questions
8 work on problems longer
9 when stuck, ask for help
10 have smarter friends
11 seek feedback
12 make mistakes
*this list will change
Source of this little check list, Rana Chauhan
one of our Portfolio Investment Professionals
Rana helps advisor "Face The Fear" that the media perpetrates every day and keeps things positive and apply wisdom to the events that happen day in day out, watching trends, very educational and thoughtful insight.
Favorite Quote # There's never a wrong time to do the right thing - the hardest thing is figuring out what is the right thing - Rana
http://lp.mnp.ca/acton/media/25546/bill-148-impacts-to-ontarios-labour-laws-and-employment-standards
Some opening thoughts the day after I got things started to make the change to create Brock Shores Financial and transition my business for the future
Courage to change, to take another step forward to improve the future of Timothy Ross & Associates as I approach 30 years of service. My goal as the founder of Brock Shores Financial is to build on this foundation> Looking forward to being able to bring additional value to our associates, advocates, clients, customers, prospects, my growing team and our beautiful dynamic community that is rowing together, building bridges to the future, striving, facing the challenges ahead and improving the future. Brock Shores Financial is being birthed and nurtured so I can continue to make a difference, now and for the future, to build on this solid foundation and so we can become all we can be for the future.
Timothy Ross, Family Advisor ®, CEO & Founder, Brock Shores Financial Corp , formally Timothy Ross & Associates , since 1988, Family Office providing Omega Stewardship ®
I am often asked what is Omega Stewardship ® ?
There is a number of trademarks that I have created since starting the business back in 1988. They represent the idea that we can somehow condense what we do in a few words. The goal is that it helps people understand what we do quickly and to the point. It's an incredible idea to think one can do that, considering everything that we do. This process is certainly not unique to our business, and for business owners, employee's, volunteers of charities etc it's a great process to go through.
I will tackle each of these as I move forward with the site and explain a little about the history and back story behind some of these words that we use to describe what we do and what we want to see , our vision, mission, and core values.
Omega Stewardship ® is one of the trademarks that I created over the years. It is a process that uses industries best practices and is a mind set of continual improvement. In it's simplest form it describes our process of what we want to accomplish, the value that we want to bring and some of the principals that we want to apply and accomplish in all our activities of service to our clients at Brock Shores Financial. The three lines below covers the main goals that I feel will help towards the mission of #ImprovingFutures
Timothy Ross, CEO & Founder, Brock Shores Financial #ImprovingFutures
Family Office providing OMEGA STEWARDSHIP ®
* One Stop Process Driven Approach for Retirement & Income Planning
* Personalized Tax Management Solutions for Individuals & Business Owners
* Confidential Wealth Management Solutions
"Helping Families Achieve ... Life's Major Goals"®
"Where Client Goals Become Our Goals" ®
Tax and Consulting Services in Association with Timothy Ross & Associates www.TimothyRoss.com
Family Office providing Insurance Products in Association with Financial Horizons Group www.financialhorizons.com/our-story
Family Office providing Mutual Funds in Association with Professional Investments (Kingston) Inc. www.pro-invest.ca
#ImprovingFutures
