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Andy Noseworthy of CAPCORP Planning
Founded in 1981, CAPCORP has become one of Canada's leading independent financial services companies. Their clients include both large national organizations and the individual investor. Their success is derived from the commitment to developing and maintaining quality client relationships. CAPCORP's independence allows clients to access products offered by most Insurance companies, Trust companies, and other financial institutions in Canada.
CAPCORP Planning is a full service Financial Planning Firm with locations in Ottawa and Cornwall and 23 employees on staff. They have 3 main divisions: Employee Benefits, Wealth Management and Individual Insurance & Estate Planning. Andy had been with CAPCORP for 17 years and had been a Managing Partner for 10 years.
After providing members with brief a company history, Andy offered Thank Yous to the Board for helping to facilitate recent changes to his slassification and to the members for the information and input (peer counselling) they provide. He also spoke briefly about some of the experiences he has had with OXA and how he has made use of other member's services.
He provided members with several Tips on how to use the advantages of your business to out-flex larger organizations including the Government.
Tip 1: Size Matters - Use the smaller size of your business to your advantage. It's true that you may not be able to outbid the government, but you can out-flex them. Andy suggested ideas for thinking outside the box when it comes to providing benefits to employees such as:
- More vacation
- Work from home. Pay for their internet.
- Laptop/iPad/handheld for work AND home
- Social Events
- Close on Fridays at noon in the summer
- Flexibility when sick/sad/child-rearing
- Bonus Choices - HSA, VACAY, Tax-Deferral
Tip 2: Group Insurance is a competitive market - No matter what
- Yes! You can have a group of one
- Yes! There are 1000s of us interested in your business
- No! Do not believe it when you are told that it would cost the same everywhere
- Yes! You can have something customized for you.
Even though you are small, you should feel like the most important person there is!
Tip 3 - You are the Owner - Take care of Yourself 1st!
- Tax Advantages
- Make sure you have a HaWP - Have your corporation pay for health/dental/vision expenses directly and save.
- Individual Pension Plans
- Income Splitting
- Group Coverage is for the average...you are NOT average
- Company-paid
- Car allowance
- Home internet
- Golf membership
Tip 4 - Incident shouldn't be Precedent
Tip ? - How we do it
1)Management Philosophy
2)People Philosophy
3)Ask and then Flex
Andy went on to discuss the areas in which CAPCORP may be able to help member businesses in this competitive market.
- Group Insurance
- RRSP/DPSP/RRP
- Flex Benefits
- Health Care Spending Accounts
- Personnel Policies
- Owner Compensation/structure
- Maternity/Vacation/Sick Leave
Remember... CAPCORP has dealt with over 500 business owners so they have seen and tried it before. You can have the wisdom of many failures and successes, Free of Charge! So to learn more about the services that CAPCORP Planning has to offer visit their website www.capcorp.ca. To find out how CAPCORP can work for you contact Andy Noseworthy (anoseworthy@capcorp.ca) at
(613) 226-1964.
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