Author: CopperBeechCo

Coaching - Succession- Financial Planning

Year End Thoughts

Some years ago I was watching a film about a photographer from National Geographic. The program was about how he did his work, he selected the shot through his viewfinder, aware each shot could be the picture that defines his career. Early in the film, this man said something that struck a cord for me.…
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Fear : Loss of Wealth

I often talk to new clients about three fears that govern the actions of business owners everywhere. The fears are: Loss of Wealth Loss of Control Family Conflict These fears are largely intertwined but any one can be an over-riding factor that stops business leaders and their relatives from working on a transition plan. The…
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Remembrance with Thanks and Legacies

Every November I give special thought to my parents. Both, in their own way, fought the Nazis in the Second World War; my father as a bomber pilot in the Royal Air Force, my mother as a teenager in Nazi-occupied Norway. My father flew 69 missions, including flying through the Battle of Britain. He was…
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The Power of Family Meetings

One by one they came over to me and shook my hand. Dad was in his eighties, Mom was mid-seventies, two sons and two daughters in their forties and fifties. They had just completed their first family meeting and as they thanked me they each wondered why it had taken so long. Dad and mom…
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Succession planning is not about retirement

Succession planning is not about retirement, it’s about commitment and preparedness for the future. Through development of a plan family members are given the tools to help identify what they want and how to align the wants of each family member. There are two fundamental parts to a succession plan:      Strategic plan: where do…
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Would I like to retire at some point?

A good definition of retirement is working because you want to work, not because you have to work. A well planned “retirement” gives you options. The goal should be to have choice and control. Asking the question “Would I like to retire at some point?” starts you thinking about the answers and planning to achieve…
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You Should Allocate Your Insurance Budget Based on Risks You Face

Jack and Jill had returned to my office to talk about insurance and they had brought their spouses, Jane and Dick. Our discussion a couple of weeks ago had triggered questions about what insurance they should have and I had suggested that this was a discussion that should involve their spouses. “As you know” I…
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Life Insurance is a Valuable Financial Tool as a Business Transitions from one Generation to the Next

Jack and his sister Jill sat in front of me looking expectant. Jack still had the bandages on his head from the nasty fall he had taken a couple of weeks ago, Jill showed signs that she had taken a tumble too. Jack and Jill were planning on buying their parents out of the family…
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Wealth Vs Prosperity

Wealth vs. Prosperity

We hear a lot about wealth; it’s the devotion to wealth that keeps our banks and money managers.…wealthy; wealth management, growing wealth, protecting wealth.  Prosperity on the other hand is an overlooked concept. Very few business owners want wealth for the sake of wealth. Most, when they have time to think about it, are more…
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Peter Brown Mentorship Award Finalist

Mentor of the Year Award

Many (many) years ago I started my own business, a public accounting practice in Niagara. My wife and I had spent some months traveling – winter in the South Pacific, spring and summer in Europe and upon returning home I decided that instead of getting a job, I would try to run my own business.…
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