Your Wealth Advisor Doesn't Understand Your Business. That Should Terrify You.

Your Wealth Advisor Doesn't Understand Your Business. That Should Terrify You.

#WealthManagement #ExitPlanning #FinancialAdvisor
https://www.pnwadvisory.com

The 6 Numbers That Determine What Your Business Is Actually Worth

I’m Douglas Greenberg, a financial advisor at Pinnacle Wealth Advisory, and today I want to discuss a critical aspect of exit planning that often goes overlooked by business owners: understanding what your business is truly worth. Many entrepreneurs can recite their annual revenues and profit margins by heart, but few actually comprehend the real...

#WealthManagement #ExitPlanning #FinancialAdvisor
https://www.pnwadvisory.com

Don't Sign That LOI Until You Read This

Understanding the Implications of a Letter of Intent
As a business owner, you've invested countless hours and resources into your company. You made sacrifices and faced challenges to build it from the ground up.

#WealthManagement #ExitPlanning #FinancialAdvisor
https://www.pnwadvisory.com

America's Retirement Crisis: Why $48,000 Won't Cut It

As a financial advisor at Pinnacle Wealth Advisory, I have seen the growing unease among business owners and individuals regarding retirement savings. A recent report has painted a rather grim picture of America's retirement crisis.

#WealthManagement #ExitPlanning #FinancialAdvisor
https://www.pnwadvisory.com

What $100 Oil Actually Means for Your Money

Oil has recently crossed the $100 mark per barrel, sending shockwaves through the media and prompting extensive discussions about its impact on the economy. As a financial advisor at Pinnacle Wealth Advisory, I want to take a step back and analyze what this really means for your wallet.

#WealthManagement #ExitPlanning #FinancialAdvisor
https://www.pnwadvisory.com

CINDY WARD: ENTREPRENEUR EXTRAORDINAIRE

In a community that celebrates its innovators and business leaders, Cindy Ward’s story is one that stands out from the crowd. Ward is the founder and CEO of Dr. Ward’s Fresh Mists, a line of all-natural air, fabric and body refresher mists. The company is Ward’s first time building a consumer product brand, but it is far from the first business for the Kitchener born-and-raised entrepreneur. 

Her career has included stints as an auditor, stockbroker, restaurateur, behavioural economics researcher and competitor on CBC’s Dragon’s Den and CTV’s Master Chef Canada. 

“I think I have a real knack for grassroots business and invention. I love finding an idea that you want to pursue and then finding every possible creative way to get it done,” Ward said. 

Ward’s first experience with entrepreneurship was in high school as part of the Junior Achievement Program. She said while most Junior Achievement companies do not earn a profit, her company did. That experience was the first taste of success that inspired her to pursue new opportunities. 

“I’m just a glutton for experience and knowledge,” she said. 

Ward began her career as an auditor for Revenue Canada before becoming a licensed assistant for a broker at ScotiaMcLeod Wealth Management. Her next change was becoming a small business owner with the opening of The Art Forum on Queen St. in Kitchener. 

After the art store, Ward pivoted again to launch an office canteen service. While it was successful, getting up at five in the morning to prepare meals was not for her, and she sold the business. Over the next 10 years, Ward worked on a number of businesses, all while driving a taxi. It was during this period when her next opportunity presented itself. 

“I’ve always wanted to own a restaurant, and then I saw that the City of Kitchener was accepting applications for the Boathouse property in Victoria Park,” she said. 

Ward put together a business plan and proposal and shared it with her brother. Impressed with the plan, her brother offered her a loan to get started.  

“Once my proposal was accepted by the city, I was able to open the Boathouse for less than $13,000,” Ward said.  

During her run at the Boathouse, Ward became pregnant. She said that, while people have raised children in the business, it was not right for her. A lifelong student of psychology, Ward decided to return to university and pursue a degree. That turned into a nine-year journey where she earned her PhD in social psychology from Wilfrid Laurier University. 

“I loved it so much, so I just kept going. You’re always learning as you go,” she said. 

After graduating, Ward worked as a business consultant at a behavioural science company in Toronto advising large enterprises including Canadian Tire and the Royal Bank of Canada. She ran experiments about everything from button placement on a banking website to how to present point totals for a rewards program.  

“It was an exciting time. I’d been gaining [knowledge] over the years, and then I was learning about large scale consumer demographics. I decided that I wanted to build a multinational brand, something I’d always wanted to do,” she said. 

Ward started with an idea for a wooden hair stick brand but was soon inspired to take on an entirely different challenge due to her experiences wearing a mask during the pandemic. 

“My mask used to stink—whose mask didn’t? Then one day I was chewing gum and needed to put it somewhere. I stuck it in the corner of my face mask, and then when I put my mask back on—it smelled minty fresh,” she said. 

Ward went to work to develop a product for people to spray on their masks. She added that she has always preferred natural products, so instead of a harsh chemical-based scent, Ward investigated using essential oils. 

“They’re nature’s oldest medicines. They’re sustainable. They don’t just clean, they’re good for you,” she added. 

Fast forward six years and Dr. Ward’s Fresh Mists include products designed for freshening up cars, shoes, athletic equipment and, of course, washrooms. 

“One of the biggest challenges of my business is how to describe it. Do I describe it as a natural cleaning product that’s also good for you, or do I describe it as aromatherapy that also cleans?” she said. 

Ward pitched the business to the world on CBC’s Dragon’s Den in 2024. While she did not walk away with a deal, she did leave with new inspiration to build Waterloo Region’s small business support network. Ward noted that the pandemic showed the fragility of the local supply chain and presented an opportunity to build something stronger. 

“There are no pitch opportunities for non-tech companies. We need every type of business to build a healthy economy that can take a future blow,” she said.  

For Ward, the goal is bigger than selling more units of Fresh Mist. She wants to prove that physical manufacturing and small-scale entrepreneurship are just as vital to Waterloo Region as the next big app. 

Edward Jones gets FDIC’s nod for ILC charter

The approval caps a nearly six-year journey for the investment firm, which aims to launch an industrial bank next year.

https://www.bankingdive.com/news/edward-jones-ilc-charter-fdic-approve-industrial-bank-utah/813515/

#FinTech #FinServ #Banking #WealthTech #WealthManagement

The 60/40 Portfolio is Dead: Why Your Retirement is Mathematically Programmed to Fail

https://youtu.be/x11ADxdDoM4

#Investing #WealthManagement #MarketCrash #6040Portfolio #EconomicCrisis #FinanceNews #DeepPressAnalysis #SystemicRisk

WisdomTree gets SEC approval for 24/7 trading

SEC and FINRA granted the necessary approvals for WisdomTree to launch 24/7 trading and settlement for its tokenized money market fund.

https://www.americanbanker.com/news/wisdomtree-gets-sec-approval-for-real-time-trading

#FinTech #FinServ #WealthTech #WealthManagement #Investing