Wealth Management

Voted #6 on Top 100 Family Business influencer on Wealth, Legacy, Finance and Investments: Jacoline Loewen LinkedIn Profile
Showing posts with label Jacoline Loewen. Show all posts
Showing posts with label Jacoline Loewen. Show all posts

November 7, 2018

What are the fees for sale of your business?

For all of you entrepreneurs and business owners who are thinking about an exit, I am excited to tell you that the new M&A Fee Guide 2018-19 report by Firmex and Divestopedia is a must-read. After checking out this report, Founders and Owners will benefit from having a realistic and up-to-date overview of the fees for a proper advisor (not your accountant). Facts make you confident in selecting an expert. 
Over the years, I have observed how the fear of fees can be a block to exploring the wide range of ways to grow the business or exit. I have seen many owners think that fees will be too much.  Then they try and do by themselves - this most emotional job of all.  Don't be cheap on this part and don't think your accountant alone is the right expert. Get the facts. I think most owners will be surprised.  
Also, I have certainly seen that by using an advisor, you attract a better quality of buyer and end up with a sale price that fits expectations. Do check out this report and don't let fear of fees cost you lost profits.
Success fees, work fees, break fees…. M&A advisory fees can be structured in various ways and can differ greatly from region to region and city to city. I highly recommend checking out this free report to get a true assessment of fees for your sale of your business. Based on a survey of 480 M&A advisors – AKA the experts who will go out and find qualified buyers for your company and help negotiate the sale – this guide provides valuable data on what advisors charge their clients and why.
An exit can put owners in an uncomfortable position. While you know how to run your business better than anyone, this doesn’t necessarily mean you know how to sell it. When owners seek the expertise of advisors to help with a sale, they aren’t always familiar with how the process works or the fees that are being proposed. This report will provide the inside scoop you need to negotiate fees and terms for the sale of your business with confidence that you’ve done your homework.

I have personally partnered with my company with BDO and appreciate their ability to work with Canadian companies and their unique circumstances. Adam Mallon, the Managing Director of Transaction Advisory Services, for the mid-market, is someone who can read the situation and give clear and fair feedback to the founder as if it were his own business. Adam is one of the sponsors of the report which is an indicator of the accuracy.  
What I enjoy about Adam is that he does not waste time and gets to the real issues quickly. Adam says, 
“Sale mandates are complicated and, as this research shows, the associated fees can be calculated in many different ways. While price is an important element, is not the most important one. When selling a business, engagements can be long, intense, and often emotional. Business owners should make sure that their advisor is experienced, qualified, and a good fit personally.” 
Great advice for anyone who’s gearing up for a sale!
Get the Full Report
To download your free copy of the M&A Fee Guide 2018-19, click

November 5, 2018

2 Changes to Estate and Tax Law in Ontario

The recent changes to Ontario estate law and U.S. tax law might impact families with wealth. These 2 new changes are worth reviewing:

  1. For those of you with multiple wills (used commonly to avoid Probate) should review their Wills. A recent decision, Re Milne, rendered a Primary Will void because it contained a commonly used provision that gave the Trustee discretion to determine what assets to include in the Primary Estate. As a result, multiple wills are only valid if the assets that comprise each of the Primary and Secondary Estate are defined with sufficient certainty. This decision is currently applicable in Ontario, but it is possible that it could be applied in other provinces.
  2.  U.S. citizens in Canada may be impacted by the changes to the Tax Cuts and Jobs Act, specifically the global intangible low-taxed income (GILTI) tax. U.S. GILTI tax is relevant for any U.S. Shareholder owning 10% or more of a controlled foreign corporation (i.e. a Canadian Corporation with US shareholder). U.S. Shareholders in that situation may have a one-time 15.5% tax, plus they must include in income such profits in excess of a 10% return annually on depreciable tangible assets owned by the corporation whether or not a distribution is made to the U.S. Shareholder.


January 17, 2018

Top Forecast awarded by Bay Street Finance Club to Jacoline Loewen

Jacoline Loewen with trophy for #1 Forecast
It was thrilling and humbling to be awarded the #1 Forecast.  There were 150 competing financial experts, many of whom run leading funds and who are pre-eminent names in the investment industry.

My forecast made at the beginning of 2017 was the most accurate. As a result, I get this huge trophy with darts as the symbols on top.  You can surmise why the use of darts as an understanding of the accuracy of forecasts.  Many people have made or lost their fortunes using the forecasts of experts, including Ray Dalio.  My name has been engraved on one of the markers which is an honour to join the list of top forecasters of the Canadian economy.

This finance club has been going since 1929, and will no doubt carry on for another 100 years, and so it is a great honour to be able to win top forecast. I was told that lightening does not strike twice and this is forecasting, after all. However, I have seen in my business that there is some methodology and process that certainly helps to predict the road ahead.

If you are curious about the forecast itself, there were market indicators to predict and a list of stocks to choose as going up or down.

I did have access to my bank's economic views which were different from the Canadian banks, being a global player. No doubt, access to that gave me a proverbial leg up but in the end, I did put in the time and effort to really look at the upcoming year. Now, let's see how my 2018 forecast fares!

November 1, 2017

For Every Business Owner - The Business Transition Forum in Calgary

Last year, the Calgary Business Transition Forum event was packed with speakers sharing great stories. I heard fresh content from seasoned professionals too and got to ask many questions.

The networking was outstanding.
Register at: www.businesstransitionsforum.com/Calgary
The Business Transitions Forum, Calgary edition, happens at the Westin in Calgary on November 8th. I am looking forward to this year. Dave Mason Adam Mallon David Tyldesley Mark Stephenson Lisa Shepherd

Jacoline Loewen at the Business Transition Forum, Calgary

October 15, 2017

UBS COO Axel Lehmann on fintech: Banking jobs 'will completely change'

This week, our COO for UBS Global is flying in from Zurich and will join us for an evening with the five Canadian fintechs heading to New York for the finals. We will be handing out awards to the companies this Wednesday and Axel Lehmann, our COO will be there to talk fintech.
Here is an excerpt from an interview with Axel by Business Insider. I am impressed by Axel and how he is leading UBS into fintech. 
LONDON – Of all the challenges faced by leaders of large investment banks, the growth of the financial technology industry, or fintech, is unique.
Since the 2008 financial crisis, fintech startups have boomed, making quick ground on a banking industry struggling to cope with new financial rules and legacy tech systems.
Unlike challenges such as Brexit, low global growth, and interest rates, fintech's impact is hard to predict and quantify for banks.
It has the potential to totally disrupt established business models or boost productivity and profitability. Or perhaps do both at the same time.
While no lender wants to become the next Nokia or Kodak, crushed by an innovation they failed to properly understand, it's not always clear how an organization with 100,000 employees should deal with the threats and opportunities posed by fintech.
Business Insider chatted with Axel Lehmann, chief operating officer of Swiss bank UBS, to ask how the organisation is coming to terms with fast-changing world of fintech.
Ben Moshinsky: Where are the main threats and opportunities to UBS from the fintech boom?
Axel Lehmann: True change is really coming from outside the industry. That is the key challenge we face as of today. The whole fintech discussion has changed, we have moved on from discussing whether a revolution is taking place, and how the banks will become redundant, to a place where most banks are looking at collaborative efforts with other firms. This is why most of what we do in terms of technological development we do in partnership with fintech companies.
I don’t want to get blindsided. It’s less the technology, as such, providing a transformative element in the banking industry. It’s really alternative business models that have the potential to shake up everything and eat into our cake.
We have a legacy infrastructure which can be regarded as a liability, but it’s also an asset
It is also full of opportunities. We, the banks, are operating from a position of strength from a customer perspective especially in terms of the amount of customer interaction, the know-how we can provide, and the services we can offer. You can’t create any of this overnight.
And secondly, we have a legacy infrastructure which can be regarded as a liability, but it’s also an asset. When the Trump election got through, for example, volatility was high. We have an infrastructure that can scale up in line with volatility, and that’s something you need to have.
So, in this regard, I’m personally optimistic. It’s easier, when you look to consumer industries, for example, Uber or WhatsApp, to disrupt a lightly regulated sector. But when you look at where we as banks are, you get into the highly regulated space immediately, when you talk about balance sheet and liquidity, and this makes this industry less easy to disrupt.
But no doubt, we still do have to be mindful that we’re not losing out on some of that less regulated space, particularly at the point of customer interaction.
BM: What's the most exciting technology on your radar?
AL: I truly believe that whole question of robotics and artificial intelligence over a time horizon of four to eight years will fundamentally change the banking business. As banks, we understand that our business is all about data. These technologies have the potential to really fundamentally change the way we operate in terms of getting smarter with the customer, understanding what kind of products we should offer and so on. That is definitely exciting.
BM: How will that affect headcount in big banks? Will bankers need new skills?
AL: I think it’s always that question, that people understandably want to ask, about possible headcount reductions. We were here 50 years ago when UBS was the first to roll out an ATM in Europe. The press was then speculating about how that would eliminate all the tellers and the branch network. Now history shows that this hasn’t really happened. In reality branch staff started to have different forms of customer service opportunities and I think the same will happen now more broadly in banking.
The more you implement robotics and automation, that will in part substitute processes that humans are doing today.
The jobs and the job profiles will completely change. Technology, and it’s my deep conviction, will support and complement the human capabilities. Of course, if I’m a retail customer with $10,000 to invest I might decide to do it all via a machine, but if I have seven figures I will need somebody to help me, to provide expert advice, and so the vital role of the relationship advisor definitely won’t disappear. Banking will stay a people's business.
So I don’t want to speculate if we have more or less people. We’ll have different jobs and the skill levels of those people will be different. Of course, there will likely be eliminations of some process functions. The more you implement robotics and automation, that will in part substitute processes that humans are doing today. However, I do think that probably what will happen is we will then see a significant increase in productivity and efficiency.
BM: How big a profitability driver will that be?
AL: This productivity will help drive profitability or absorb any additional costs that you have, in terms of further technological development or regulatory developments. It will be reinvested in other ways, either to enhance the franchise or deal with further regulation.
BM: How does a bank, like UBS with tens of thousands of employees, interact with a fintech startup of just a few people? What kind of cultural changes need to happen
AL: Dealing with fintechs is a cultural shift that needs to take place and you want to have the local people to innovate. At UBS we have a systematic process on how we expose ourselves to fintech companies. For example, we have a series of initiatives that we’re driving, such as our Future of Finance Challenge. This competition, which is happening at the moment, provides a forum for start-ups and growing companies to come and present their ideas to compete for support from UBS to accelerate their ideas. That’s the type of work we’re doing. We really want to take advantage of some of those fast-moving and smaller boats with great ideas and great software that we can scale up and use in our organisation.
Jacoline Loewen and team for fintech challenge
BM: Is competition for those boats fierce? How do you make sure you invest enough time and money?
AL: UBS has a CHF2.1 billion net saving target, but nevertheless our IT spend is at a record level of more than 10% of revenues. We do not sacrifice mid-term and longer term development to make numbers for a quarter. Secondly, if you look to our overall positioning it is quite unique, and that gives me confidence. We’re the global leader in wealth management, which is one of the key areas to invest in digital. Every dollar we invest there, hopefully wisely, is helping us strengthen that franchise.
Read the rest of the article here.
Join me on Twitter @jacolineloewen

October 13, 2017

An evening at the McMichael Canadian Art Collection

Alex Janvier
It was a packed at the McMichael which is located in Kleinberg, a bit of a hike north from Toronto. As I walked up to the gallery, the sweeping evergreen trees overlooking the winding path relaxed me and put me in the mood to enjoy the evening. The gallery event was showing the art of Alex Janvier who was there for the evening and who gave a speech about his life and sources of creativity.

The McMichael really is worth the drive.

Members of the board were attending and I enjoyed the company of Laura Mirabella, who is CFO of the City of Vaughn, as well a board director of the McMichael.

Laura Mirabella and Jacoline Loewen

A delicious buffet was served and then we all heard the artist, Alex Janvier, speak about the story of his life and how he is inspired. After touring his collection, there were some interesting items in the gallery's store. There was a book with his art over the years, umbrellas and bags, but my favourite were the coffee mugs with his gorgeous colours and patterns which almost infuse you with energy.

November 13, 2015

The need for Canadians to have a globally diversified portfolio is increasing

Jacoline Loewen and team Ottawa
The economy has been choppy, to say the least, and we asked our portfolio strategist to share the economic forecast for Canadian investors concerned about their portfolios.
Our Economics Forecast Luncheon in Ottawa had healthy debate and discussion.
My biggest take-away is that Europe has room for growth as they have had austerity and the governents are investing into their country infrastructure again.
Also, America is a resilient economy. Their job growth is strong, although service jobs do not have the same wage potential.
Thank you to Stephen Beckta, Beckta Restaurant, who hosted our private event.

If you would like to receive more inforation, please contact Jacoline Loewen - contact information on the side bar.

October 18, 2015

Business Transitions Forum, Vancouver, Tackles How to Value Your Company

Business Transitions Forum focuses on planning and transactional strategies guaranteed to smooth the transition of business ownership, while demystifying the process required to successfully sell your business. You will leave with the tools to create your own roadmap while understanding best practices and the roles played by expert advisors so that you can build your own team, if necessary. BTF’s large scale allows for anonymity if you prefer to blend into the crowd.
Jacoline B. Loewen, Featured Speaker and leader of BTF panel
I will be leading a panel of experts to discuss who are the experts that an entrepreneur needs to begin the process of transition. Questions that will be addressed include:
  • Where do I start and who can assist me?
  • What dictates how much my company is worth?
  • Who is buying businesses now and what are they looking for?
  • What tactics will maximize the value of my company while minimizing taxes?
  • How can I avoid compromising my marketplace while I look for buyers?
  • What will I do with the proceeds (and my identity) after the sale?
  • How can I assess the risks of succession within my family?
  • Why do so many business transitions fail?
Thinking about the future ownership of your business and don’t know where to start? Join us!