Timeless Wealth with Durkin Dietz

Are trusts and family trusts beneficial? What are the different corporate structures? Let's Dig In...We all love tax right? RIGHT???

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On this episode of Small Change Big Gains, we're diving into President Trump's proposed tariffs on Canada and what it means for investors. Tune in now for the breakdown

Our latest episode with Naren Balakrishnan at Doane Grant Thornton LLC talks about the SR&ED (Scientific Research and Experimental Development) program- highlighting key points business owners will find helpful!

No one gets into their car anticipating a car accident….yet we still buy insurance to protect ourselves…and to obey the law ofcourse :D No one moves in with their partner anticipating a break-up….(almost no one)…..so why don't we talk about financial protection enough? A fantastic discussion with Alex and Jalal on the importance of cohabitation agreements.

15M Canadians do not have a will. Estate planning isn't just about passing on wealth—it's about preserving your family's legacy and avoiding costly disputes. In this episode, we dive into why it's crucial to plan your estate well in advance to ensure happy inheritors and a smooth transition of assets.Learn how proactive planning can keep your family out of court, reduce litigation costs, and strengthen family bonds for generations to come. Whether you're just starting or refining your estate strategy, this conversation offers valuable insights to protect what matters most.

In this special New Year's episode, we kick off 2025 with a look at what Canadians can expect in the year ahead. From economic updates to key trends and insights, we cover everything you need to know to start the year informed and inspired.Don't forget to like, subscribe, and let us know your thoughts in the comments below. Here's to a fantastic 2025!

When is a good time to sell your business?

Is innovation found in other sectors apart from tech? Admittedly, I was guilty of correlating innovation to just the tech sector- it certainly seems that way sometimes. But I recently learned that innovation isn't just in tech. In our latest episode, Jalal and I had the fortune of chatting with Manish Goyal of JP Morgan and exploring how innovation is just as solid and thriving beyond the tech sector. Our top 3 take-aways from the discussion: 1) Look beyond tech- disruptive and game-changing initiatives are happening in healthcare, finance, industrials, and others. 2) R&D investing is a major contributor to innovation. Companies that invest in R&D to commercialize offerings will remain at the forefront. 3) Whenever a major advancement occurs, new winners and losers are created. Companies investing in creating an ecosystem of diverse, yet related, offerings can weather harsher storms. #finance #innovation #investing

With MIGS 2024 right around the corner, we brought back Matthew Persram of the Creative Industries Group here at NB to talk about what it takes for a game studio to get a bank onboard to finance a game development or project. For some fun, we dived deeper, talking about issues in the gaming industry including the impact of monetization and gambling elements in games and issues surrounding the shift to digital content/games over physical formats. Specifically, we talk about what it means to "buy a game" in the online stores. Do you really own the game? #gamedev #gaming #indiegamedev #gaming2024

Jalal Midani and I had another insightful discussion with Corey Obermeyer, President of HomeInstead, about senior care, addressing some common misconceptions and gaining valuable insight from an industry leader.Here are the highlights of the chat:

Overly thrilled and proud to have recorded this episode- business owners will find it intriguing.Sean Durkin and I chatted with Dr. Thomas W. Deans, best-selling author of "Every Family's Business," on key considerations & questions when planning to sell your business to family members.Business succession is often complex, and the best transitions happen with long-term discussions and planning.If you own or are part of a family-run business, this one's for you!!#BusinessSuccession #FamilyBusiness #Podcast #WealthManagement #SuccessionPlanning

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The ‘90s called- and they want their spreadsheets back. At NB, we're pioneering new ways of making financial plans more visual, understandable, and relatable. One that answers the question that buzzes in our heads- AM I OK?Not pages upon pages of graphs and numbers that get stared at confusingly before getting stored or thrown away.Having a clear and realistic plan for your finances can help you achieve your personal and professional goals faster and easier. A plan should be concise with a clear depiction of your ‘goal-posts'. It should easily be able to tell if you're on the right track. Benefits of such a plan include:- managing your income and expenses more effectively- enabling you to save and invest for the future- protecting you and your family from unforeseen risks and emergencies- reducing your stress and increasing your confidenceIn this episode, Jalal and I chatted with Bryan Monchamp of National Bank Financial to talk about the cutting edge advantages that Advice Suite (our in-house planning tool) has. Although I've been using it for a while, we invited Bryan to tell us more about the value it adds to both advisors' and clients' lives.

In our latest All Bets on Her Podcast, we're thrilled to feature National Bank Financial's Tania where she delved into her financial journey.Tania shared her excitement about the pivotal decisions she's made in her life regarding finances, and the proactive steps she took that she is most grateful for.Key highlights from the conversation:Embracing Early Action- She was particularly fond of taking charge early on to get a head start towards financial independence.Empowering Community- supporting other women in achieving financial independence by encouraging each other to take a seat at the financial and decision-making table. Definitely worth checking out!! Tune in for the full chat!

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Jalal Midani & I had an insightful chat with Corey Obermayer, President at HomeInstead, about the various options available for elder care—long-term care, retirement homes, and at-home care. Corey provided invaluable tips on how to approach this sensitive topic with elderly parents, ensuring that their needs and preferences are at the forefront of the conversation.One thing we absolutely loved is the 40/70 Rule, where if you're in your 40s, chances are your parents are in their 70s, and this topic might be worth bringing up. Whether you're just beginning to explore these options or are in the midst of making decisions, this episode is a must-listen.

In this episode, Sean and Jalal sit with Angelo Katsoras, Geopolitical Analyst at National Bank Financial, to discuss global tensions and issues pertaining to the modern investor. The dialogue was fabulous and enlightening. We delved into the Russia-Ukraine War, Israel-Hamas conflict, global electrification efforts, and China-Taiwan-US tensions. Now things may seem bleak, globally. But Angelo did a great job in detailing out a series of advantages and strengths that both Canada and the U.S. possess in their arsenal, setting them apart from other regions globally.

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National Bank Financial - Wealth Management (NBFWM) is a division of National Bank Financial Inc. (NBF), as well as a trademark owned by National Bank of Canada (NBC) that is used under license by NBF. NBF is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF), and is a wholly-owned subsidiary of NBC, a public company listed on the Toronto Stock Exchange (TSX: NA). The information contained herein has been prepared by Amy Dietz, a Wealth Advisor at NBF. The opinions expressed do not necessarily reflect those of NBF.The particulars contained herein were obtained from sources we believe to be reliable, but are not guaranteed by us and may be incomplete. The opinions expressed are based upon our analysis and interpretation of these particulars and are not to be construed as a solicitation or offer to buy or sell the securities mentioned herein. The opinions expressed do not necessarily reflect those of NBF.

National Bank Financial - Wealth Management (NBFWM) is a division of National Bank Financial Inc. (NBF), as well as a trademark owned by National Bank of Canada (NBC) that is used under license by NBF. NBF is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF), and is a wholly-owned subsidiary of NBC, a public company listed on the Toronto Stock Exchange (TSX: NA). The information contained herein has been prepared by Amy Dietz-Graham, a Wealth Advisor at NBF. The opinions expressed do not necessarily reflect those of NBF.

National Bank Financial - Wealth Management (NBFWM) is a division of National Bank Financial Inc. (NBF), as well as a trademark owned by National Bank of Canada (NBC) that is used under license by NBF. NBF is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF), and is a wholly-owned subsidiary of NBC, a public company listed on the Toronto Stock Exchange (TSX: NA). The information contained herein has been prepared by Amy Dietz-Graham, a Wealth Advisor at NBF. The opinions expressed do not necessarily reflect those of NBF.#philanthropy #advisors #nationalbank

NBF is not a tax advisor and clients should seek professional advice on tax-related matters, including their personal situation. Please note that comments included in this letter are for information purposes only and are not intended to provide legal, tax or accounting advice. The comments reflect the opinion of their author only and may not reflect the views of NBF.National Bank Financial - Wealth Management (NBFWM) is a division of National Bank Financial Inc. (NBF), as well as a trademark owned by National Bank of Canada (NBC) that is used under license by NBF. NBF is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF), and is a wholly-owned subsidiary of NBC, a public company listed on the Toronto Stock Exchange (TSX: NA).The information contained herein has been prepared by Amy Dietz, a Wealth Advisor at NBF. The opinions expressed do not necessarily reflect those of NBF.

“The rainy days do come”Check out Lagom Collections: https://lagomcollections.com/Jalal Midani and I had the wonderful opportunity to engage in a discussion with Jennifer Steckel Elliott for our new series, ALL Bets on HER. During the episode, Jennifer imparted valuable financial and life insights drawn from her journey.Jennifer discovered that a key to achieving success in financial and life choices is the effective communication and clear expression of one's principles and values, whether it be with a spouse, offspring, coworkers, or others.Her transition from a thriving career in marketing and client services to founding Lagom Collections was inspired by her love for technology and design and driven by that creative-entrepreneurial spirit. This innovative platform enables individuals to personalize their living spaces by displaying their treasured book collections, thus allowing their walls to mirror their unique identities.It was a fabulous and rich chat, and certainly a blast to record. Some of our favourite takeaways are:-The rainy days do come- be prepared!!-Speak Up! Don't Ask, Don't Get-Articulating your values and priorities to your family members is crucial to sustainable wealth growth and a joyful life!-It is important to know when to start having these conversations with your children, so that they may also learn from the lessons and experiences you have gone through.Thank you again Jennifer!National Bank Financial - Wealth Management (NBFWM) is a division of National Bank Financial Inc. (NBF), as well as a trademark owned by National Bank of Canada (NBC) that is used under license by NBF. NBF is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF), and is a wholly-owned subsidiary of NBC, a public company listed on the Toronto Stock Exchange (TSX: NA). The information contained herein has been prepared by Amy Dietz-Graham, a Wealth Advisor at NBF. The opinions expressed do not necessarily reflect those of NBF.

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At National Bank Financial, the Young Women Student Mentorship Program is a passion for us. This program is designed to help young women students enter the financial industry and learn more about the different roles in wealth management with the goal of having more women in the industry. Over the years, the program has evolved and grown across Canada and our partnerships have grown to be with more than 42 universities from coast to coast. Learn more about our Young Women Student Mentorship Program at: Finding your way as a female investment advisor | National Bank Financial - Wealth Management (nbfwm.ca)

We were joined by Jonathan Durocher where we spoke about the future of the advisor-client relationship and how National Bank is carving new avenues to move from being the best-kept-secret to a more dominant player in banking and wealth management. Among the many things we spoke about, including AI, Jonathan delved into how the advisor-client relationship is evolving and where he sees it in the next 5-10 years. As an advisor, having access to a wider variety of data will increase client satisfaction because clients are coming to their advisor for a wide spectrum of non-financial inquiries. #wealthmanagement #nationalbank #advisors

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It's that time of year where we're all brainstorming hard and rushing to get those last-minute holiday presents and stocking stuffers.To help with some ideas, our yearly Holiday Gifts is now out for 2023!! Sean, Jalal, and I, rounded up our top picks for this holiday season. All items are Canadian, supporting Canadian companies and individuals: For those that love books, pets, and art:- Golden Love- J. B. Simon-- A Life Well Danced- Jane Gall Spooner-Want to get a young adult more interested in saving money and finances?- How to Turn $100 into $1,000,000-- How To Money-Who doesn't love awesome snacks and great coffee during the holidays? Guilty! - Balzac's Coffee- Special Anniversary Blend-- Aware Winning Saltwinds Coffee- - Mary Macleod's Shortbread-Sean loves funky socks…..Nothing to get you in the holiday spirit like pajamas & funky socks…..- SAXX socks-Love Yoga? Yearning for that six-pack and bettering your balance after munching through the holidays?- Montreal Board-And finally….talk about the bachelor fridge...if you're anything like Jalal who only has water, a can of Red Bull, and coffee creamer in his fridge, then this is for you…- Koolatron Mini Fridge-Seriously Jalal! It's called a grocery store!Tune in for some fun, laughter, and a chat about each item.Hope you enjoy & Happy Holidays to all!!!

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As inflation is seemingly coming down in October and November of 2023, what are some factors that contribute to the levels of inflation? What is the difference between headline and core inflation? How can individuals and investors behave in this inflationary period both from an investment perspective, and from a spending perspective?

Is the Canadian financial system in trouble? 2023 marked a significant year for the Canadian banking system. As we witnessed the downfall of a few regional banks down south of the border, many Canadians became concerned about the downfalls rippling through up to Canada. In addition, more concern and questions have been rising in the past few weeks as we hear of a few of the large financial institutions cut employee head count. In order to understand the difference between our banking system and that of our southern neighbor's, we invited Teresa Lesyk, Director & Head of Cash Management with the National Client Group here at National Bank, to take us through a deeper and more comprehensive analysis of the key differences. With Teresa's guidance and expertise, we learned that Canada has a much more centralized and robust financial system than that of the U.S., inevitably making it much more stable. The very nature and structure of our banking system is very different and hence generally does not go through the same headwinds as their peers down in the U.S. #canadianbanking #financialinstitutions #nationalbankofcanada

As October rolls over, many parents have most likely just paid their children's college education bills (looking at you Sean). And while inflation is the hot topic spoken about in nearly every grocery store, café, and news-channel- (I recently was sitting with a friend at a café and heard a couple on their first date talking about how the rising cost of groceries made them re-think their dating habits!!) - an interesting fact is that the rising cost of education has drastically outpaced that of inflation and wage-growth.For example, if you became a parent to a new-born recently, the cost of post-secondary education by the time they are old enough to be admitted will be much higher than where it's at now.So in light of autumn and the new school year being in full swing, Sean, Jalal, and I sat down to discuss the rapid rise of the cost of education in the past 20-30 years, and how an RESP can help not only in saving for a child's education, but can also be a very effective tool for beating the rising cost.Happy listening!

Last week, Jalal and I invited Matthew Persram with the Creative Industries team here at National Bank to chat about TIFF and how the actor's strike south of our border ties with this exciting event. In this insightful and engaging discussion, we spoke about what the strike is about and how there needs to be an evolution and modernization of the entertainment operating model to keep up with the changes of our times- specifically regarding the rise of subscription-based services. We finished off by chatting about what we're looking forward to at TIFF and the discussions at the different events that National Bank of Canada is proud to be a part of.

Corporate clients have been finding the new lending territory difficult to traverse. A recent survey has shown that a whopping 79% of large banks' senior loan officers stated that their banks have tightened credit underwriting standards for commercial & industrial loans so far in 2023 and in 2H22.Jalal Midani and I invited Jonathan Khan with the National Client Group back again to sit with us and share his expertise pertaining to the 5 C's of credit and how Canadian businesses are being affected by corporate lending in 2023. In a nutshell, the 5 C's are:CapacityCapital CollateralCharacterConditions With the National Client Group of National Bank Financial & National Bank of Canada, we take it upon ourselves to support Canadian businesses and Canadian entrepreneurs as they navigate through this new high-interest rate environment.

National Bank's Philantra Foundation was founded to help individuals and businesses do philanthropic work in a way that is meaningful to them. Philanthropy plays an essential role in society and ensures the general well-being of the community in many business sectors. Whatever your philanthropic goal, the Philantra Foundation will help you incorporate it into your overall financial, fiscal, and estate planning.The Philantra Foundation's vision is to make philanthropy accessible, simple, and beneficial for all:By helping donors support long-term causes close to their hearts By supporting charities achieve their charitable goals By advising professionals on how to leverage funds for philanthropic projectTo learn more about Philantra, visit: https://www.nbc.ca/personal/savings-investments/philantra-foundation.html

Jalal and I had the pleasure of sitting with Matthew Persram to discuss Canadian creative industries and the unique role that National Bank plays in this space.From movies to T.V. shows to paintings to video game development, there is an experience that is uniquely Canadian. And we at National Bank of Canada and National Bank Financial are proud to be a part of the process in giving a voice to Canadian communities and producers to showcase our great Canadian culture, landscape, and talent. Here are a few ways that National Bank is helping in the creative industries space:1) Tax Credit Finance2) Coordination with Ontario Creates, Canadian Media Fund, and TeleFilm Canada3) Support in closing the funding gap

The Difficulties, Life, and Pleasure of an Entrepreneur!!Advisors can deliver value specifically tailored for entrepreneurs and their businesses to make sure all the strings are pulling in the same direction. As ‘entrepreneurs' ourselves, we at National Bank Financial have a passion for creating a customized financial ecosystem to ensure that your personal and business finances are working together to meet your goals. Here are the top 4 ways we can add value to a business owner: 1) Longevity of relations2) Access- a greater variety of custom investment options 3) Integration- an ecosystem of services4) Coordination- removal of silos

Baseball is a lot like life. And in our context, it's a lot like investing. Even the best ranked teams could lose to the worst ranked teams in any given game. Similarly, even the best portfolios could have negative days. Generally, no one game determines the fate of the team- losing one game does not equate to the end of the world. Investing is similar in that if a portfolio is properly diversified, one holding does not determine the outcome of the entire portfolio. In baseball, you could make all the right choices and still lose a game. In investing, you could do all the research and due diligence, and still come out wrong sometimes. That's baseball, that's investing, and that's life.

If you're looking to grow your team, here is a 4-step toolkit to enhance the impact of growing and managing your team.Step 1) Identify the BUSINESS NEEDStep 2) Establish the ROLE NEEDStep 3) ATTRACT the ideal candidate and LEAD the interviewStep 4) Onboarding, INTEGRATION, and continuous improvement

What is SVB? What happened with SVB? And is it indicative of a deep financial crisis like that of 2008? What protections are there for Canadians in the event of a bank collapse? In this episode, Amy and Sean explain what happened with SVB and whether or not its collapse affects Canadians in general. Tune in to also find out what protections there are for Canadians in the case of an insolvent bank.

What qualities do you look for in an accountant? Filing taxes can be one of the most nerve-racking responsibilities of the year. The more complex your situation is, the more nerves can fire.BUUUTTT- working with a diligent accountant, can relieve MUCH of the stress.Wealth Advisors get asked a lot as to what to look for when hiring an accountant. Or the infamous, “Do you know a good accountant?”The answer is subjective because everyone's situation, needs, and wants, may be a little different. When vetting an accountant here are some factors to consider.1) Credentials2) Find an accountant that matches your energy level- similar to the dating world, finding an accountant that's on par with your wavelength can enhance the relationship.3) Strategic4) Communicative and Accessible5) Keen attention to detail6) Relevant experience7) Technological proficiency

To kick off our book review series, we chose Morgan Housel's, Psychology of Money, first released in 2020. An excellent read, Housel's work is short yet full of insight. Rather than talking about the technicalities of investing, Housel instead introduces a narrative element to each principle in order to show that success in investing is dependent on the psychology of the individual more than the numerical foundations/details of the market or of specific investments. For those not interested in reading about money or financial growth, you may still find Housel's principles and rules important and relating to other areas of life. A very well written and relevant piece of work, The Psychology of Money earns our Timeless Recommendations badge.

Businesses in 2023 will be facing much turbulence. Credit is contracting and inflation is high. They will be forced to optimize their structure to be more efficient. In order to leverage opportunities and effectively grow, businesses may want to look into optimizing their working capital or cash flow. Amy sat down with Jonathan Khan, Relationship Director with the National Client Group, to get some details on how optimizing cash flow can aid a business in becoming leaner and more efficient.

2022 was full of surprises and, frankly, nerve racking experiences. As for 2023, while some analysts are optimistic about the markets, others are not. So, in response to concerns regarding how 2023 is going to look like, Amy & Sean sit to give their thoughts about how 2023 may shape up to look like and share what other firms are speculating for the year ahead.

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It's all fun and games until the truth and "fibs" start getting clever! In this 2022 holiday special, Sean and Amy thought to test each other on who knows the other better. The game is "Two Truths and a Lie". If you're a pro at never have I ever, you gotta try it.If you're thinking about what to play with your friends and family over the holidays with some drinks in hand by the fireplace- give this game a shot. It's a ton of fun. Up the stakes and maybe the loser of each guess has to down a drink, or 4 :)Enjoy the good vibes and Let It Snow!!

'Tis the Season! The holidays are a "timeless time" (pun intended:) to give back and support local. From supporting your local cafe or brewery to the local candle maker to the Canadian author, it's the season for joy and community. In this 2022 holiday special, Amy and Sean thought it would be a clever idea to share some local and unique gift-giving ideas for the holidays! Tune in and you be the judge!! We hope you enjoy the show:) Gift Ideas in the episode: Kids Books:www.amooseinamapletree.comA Moose in a Maple Tree by Troy TownsinFoodie: Salt Springs Kitchen co.Hot Mango Spicy Pepper Spreadhttps://saltspringkitchen.com/Green thumb:Radical Rootswww.radicalroots.caSports FanOur Game Too https://www.chapters.indigo.ca/en-ca/books/our-game-too-influential-figures/9781970159820-item.html?ikwid=our+game+too&ikwsec=Home&ikwidx=0#algoliaQueryId=0141bc0857a1e0778ec98efd575edc20We are, We can, We Willhttps://www.amazon.ca/We-Are-Can-Will-Champion/dp/1970159847Hostess GiftSoy CandlesLamb + Kiss Candleshttps://www.lambandkiss.com/Dance Collection Dansehttps://www.dcd.ca/Ganaoque Arts Networkhttps://www.ganarts.ca/Canadian Books: Theory of Crows- David Robertson14 Days- Edited by Margaret Atwood Gift Baskets: The Happy Box- https://thehappybox.ca/