Chronicle Stories
“I knew I should be doing more to manage my finances, I just didn’t have the time. Now, I have a clear plan and more time to focus on my family and my career.”
Challenges
Gillian* is a mid-career equity partner at a professional services firm who earns over $1 million annually while juggling a demanding role with the responsibilities of family life. With a busy spouse, two young children, and a father-in-law with increasing health issues, Gillian was struggling to find time to effectively manage her complex financial situation.
Prior to working with Chronicle, she was grappling with the following challenges:
Lack of Clarity Re: Personal Finances
- No comprehensive understanding of her overall financial picture, including her investment portfolio, tax situation, and retirement planning
Incorporation and Compensation
- Uncertainty about how to optimize the financial benefits of being incorporated, including tax-efficient compensation strategies
Managing Investment Compliance Issues
- Concerns about compliance risks after one of her colleagues was found to be offside from an investment compliance perspective
Cash Flow Management
- Lack of clarity on cash flow planning, particularly regarding family expenses, taxes, and long-term financial stability
How we are helping
Since she became a Chronicle Wealth client, we have been working closely with Gillian to address her unique financial needs with holistic, proactive approach. This includes:
Comprehenisve Planning
Developing a comprehensive financial plan incorporating investment strategy, optimizing capital and income strategies, and ensuring retirement readiness
Compliant Investments
Constructing a tax-efficient, goal-oriented portfolio aligned with liquidity, risk, and growth objectives, meeting all independence requirements. Providing ongoing oversight to ensure her investments remain onside from a compliance perspective
Cash Flow Planning
Developing an annual cash flow strategy tailored to her compensation structure, ensuring confidence in financial planning
Updated Wills & Estate Plan
Providing guidance on estate distribution planning and helping Gillian and her husband update their wills to better safeguard their family
Tax-Optimization
Advising on salary vs. dividend choices, corporate investing strategies, and minimizing future tax liabilities
Proactive Financial Planning
Continuously monitoring and adjusting her financial plan as her career and personal circumstances evolve
With these strategic interventions, Gillian now has greater confidence and peace of mind in managing her wealth, allowing her to focus more on her family and career.
*Name changed for privacy purposes.