Those making a transition

Navigating big changes – business succession, retirement, divorce, etc.

Big changes to a person’s life, such as selling a business or going through divorce, have both emotional and financial aspects. People often are left with questions such as ‘what should I do next?’ or ‘what does that settlement really provide?’. Clients who are in a transition want to know that the wealth they have created will last and are looking for guidance.

The following is an illustration of how we can help those navigating big changes in their lives

We help clients transition to their next phase of life through our Life Compass and transition coaching process. Here are two of their stories:

Christopher is in his early 50s and recently sold his business. While he wants to travel and enjoy life, he is not ready to fully retire and is trying to decide what to do next (click on the compass to learn more about each quadrant of the process).

The following is an illustration of how we can help those navigating big changes in their lives

We help clients transition to their next phase of life through our Life Compass and transition coaching process. Here are two of their stories:

Christopher is in his early 50s and recently sold his business. While he wants to travel and enjoy life, he is not ready to fully retire and is trying to decide what to do next (scroll over the compass to learn more about each quadrant of the process).

DISCOVERY

Where Do You Want to Go?

Christopher had developed a unique customer service application that a large global player had purchased for several million dollars. Christopher had agreed to remain for the transition but was looking for his next opportunity and wanted to know if he could focus solely on volunteer positions or if he would have to pursue other employment opportunities. Up until the sale of his company, his investments were limited to his family home, his RRSP and TFSA accounts, and his stake in his company. Christopher was looking for an investment manager who invested in businesses for the long term – he wanted to continue to be an ‘owner’.

MONITORING & REPORTING

Charting Your Progress

Genova continues to work with Christopher and his family to make sure he doesn’t get tripped up by obstacles in retaining his wealth. We meet with Christopher on a regular basis to hear about the new experiences and successes he is having.

PLANNING

How Will You Get There?

Genova worked with Christopher to map out his and his family’s future. Genova created a road map for Christopher to know how much he can afford to spend each year without putting his financial independence at risk.

IMPLEMENTATION

Making It Happen

Christopher’s investment accounts with Genova fall into two categories: a traditional investment portfolio for growth; and cash to fund his lifestyle requirements. Genova also coached Christopher through his transition, granting him the peace of mind to pursue other interests without risking his financial independence.