If you run a company in Greater Victoria, your personal finances and your business finances are joined at the hip. Cash flow, taxes, compensation, and succession are all one story. A seasoned Victoria financial planner helps business owners translate that story into a clear plan—co-ordinating accountants, lawyers, and lenders so your wealth supports both the company you’re building and the life you’re funding.

Man working on budgeting finances at a desk.

Start with the life and business you’re funding

Before products or portfolios, define “great” for the next 10–15 years. Do you want to expand into the Westshore, buy a building in Rock Bay, or step back to a chair role and spend more time in Oak Bay? Will you help kids with housing, fund causes on the Island, or invest in a second venture? Put ballpark costs beside each priority. Purpose turns complex decisions into simple trade-offs.

Pay yourself on purpose: salary, dividends, or a mix

Owner compensation is more than a T4 vs. T5 debate; it’s the engine of your after-tax cash flow and retirement savings.

  • Salary: Creates RRSP room, supports CPP benefits, and simplifies mortgage underwriting.
  • Dividends: Flexible, can be tax-efficient at certain income levels, and can flow from a holdco.
  • Mix: Often optimal—aligns cash flow needs, RRSP/IPP room, CPP participation, and corporate tax planning.

A Victoria financial planner will build a 3–5 year pay policy that co-ordinates with your accountant and updates as profits change.

Extract and protect corporate surplus

If retained earnings are piling up, decide what each dollar is “for”:

  • Operating float: Cash for working capital and seasonality.
  • Opportunity capital: Dry powder for acquisitions or equipment.
  • Personal wealth: Dividends to a holding company for creditor protection and investment flexibility.
  • Pension-style savings: Consider an Individual Pension Plan (IPP) if you’re paid salary and have stable income; pair with RRSP/TFSAs.

Document target balances so extra cash doesn’t sit idle in the opco.

Build a resilient personal portfolio

Business owners often have concentrated risk—your income, equity, and real estate can all point to the same economic drivers. Your outside portfolio should diversify you away from the business, not mirror it. That usually means:

  • A core of high-quality bonds/GICs to fund near-term lifestyle and tax payments.
  • Dividend-paying equities for rising income.
  • Growth assets sized to your risk budget and liquidity needs.
  • A cash bucket for 12–24 months of draws so market dips don’t dictate your paycheque.

De-risk your business with the right protections

Insurance isn’t about fear; it’s about preserving options when life goes sideways.

  • Buy–sell funding for shareholder agreements (death, disability, departure).
  • Key-person coverage if the business depends on a few rainmakers.
  • Critical illness/disability to protect your household cash flow.
  • Corporate-owned life insurance to create estate liquidity and potential capital dividend account credits.

Keep it elegant: cover the risk, avoid complexity bloat.

Sharpen your succession and exit plan

Whether you’ll sell, pass the baton to family, or keep the company and step back, work the steps now:

  1. Readiness: clean financials, recurring revenue where possible, transferable processes, and a strong second line.
  2. Valuation drivers: concentration risk, gross margins, churn, and customer diversification.
  3. Structure: share classes, rollover strategies, and eligibility work for the Lifetime Capital Gains Exemption (where applicable).
  4. Timeline: build a 24–36 month runway for grooming leadership, normalizing earnings, and pacing personal planning.

A Victoria financial planner will co-ordinate with your M&A advisor, CPA, and lawyer so the personal plan and deal structure fit together.

Right-size real estate decisions

Many Victoria owners hold operating space or investment property. Stress-test:

  • Keep vs. sell vs. sale-leaseback for operating properties.
  • Strata fees, special levies, seismic, and cap-ex schedules.
  • Personal housing choices (age in place in Saanich, downsize to James Bay, or split time on the Gulf Islands) and their cash-flow/tax implications.

Plan major moves when energy is high—not in a rush year.

Turn generosity into a strategy, not a receipt

If giving matters, align it with your tax plan and values:

  • Gifts of appreciated securities to reduce capital gains and support Island causes.
  • Donor-advised fund or family foundation to engage the next generation.
  • A simple grantmaking policy (focus areas, due diligence, reporting) to convert goodwill into impact.

Governance at home: reduce conflict, speed decisions

Most families have wills; fewer have a governance rhythm. Establish an annual family meeting with an agenda, decision rights (who decides vs. who’s informed), and a plain-language letter of wishes to sit beside legal documents. Capture expectations around helping adult children, shared property use, and leadership roles in the business.

What to expect from a Victoria financial planner

Look for a process, not a product:

  1. Discovery – life priorities, business realities, personal numbers.
  2. Cash-flow & tax design – salary/dividend mix, draw sequencing, RRSP/TFSA/IPP strategy.
  3. Portfolio policy – risk, liquidity, and diversification away from your business.
  4. Protection & contingency – buy–sell funding, key-person, disability/CI, estate liquidity.
  5. Succession/exit roadmap – timing, structure, and after-tax outcomes.
  6. Cadence – a clear annual rhythm with your accountant and lawyer at the table.

The best planners translate complexity into clear next steps—and stay with you through cycles in both markets and business.

A 12-point owner’s checklist (Greater Victoria)

  • Define “great” for life and business (cost it out).
  • Set a 3–5 year salary/dividend policy.
  • Segment opco cash; move excess to holdco/personal wealth.
  • Create a 12–24 month personal cash bucket.
  • Diversify your outside portfolio away from industry risk.
  • Review buy–sell agreements and funding.
  • Right-size insurance (life, disability, CI, key-person).
  • Map an IPP/RRSP/TFSA plan tied to compensation.
  • Build a succession/exit runway (24–36 months).
  • Decide keep/sell strategy for operating or investment real estate.
  • Formalize philanthropy (in-kind gifts, DAF, policy).
  • Establish a family meeting and a values-based letter of wishes.

Bottom line: With a clear purpose, co-ordinated tax and cash-flow design, and a portfolio that balances your business risk, you can grow—and harvest—on your terms. The right Victoria financial planner acts as your integrator, pulling specialists and strategies into one coherent plan so your company thrives and your family’s future does too.