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The Power Investment Team

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Empowering Women

Address 1 City Centre Drive Suite 1100 Mississauga ON, L5B 1M2
Telephone Number (905) 804-2240
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Empowering Women

 

FINANCIALLY PREPARE FOR DIVORCE OR LOSS

We’ve all heard the sage advice to hope for the best but prepare for the worst. No one wants to focus on possibilities like divorce or the death of a partner. Still, knowing how to handle the financial logistics of such an event is important. Taking proactive steps can give you a sense of control during an otherwise chaotic time.

Here are some ways to prepare for the unexpected.

 

Discuss financial plans early on

Iron out details of your finances early on with your partner. Have a frank discussion about what they’ll look like should the relationship end prematurely. Both of you should take an active role in the conversation, and it’s wise to put things in writing, like a domestic partnership. This is especially true if one person is primarily responsible for the household’s money matters.

Susan Wood, Director of Wealth Strategies at CIBC Private Wealth, notes that finances are a common source of conflict between partners. What’s more, goals and objectives develop over time. “Everyone has a different relationship with money,” she explains. “Having open discussions early on gives you time to pivot. By keeping the conversation going throughout the partnership, you can also make adjustments to your financial plans if your circumstances change.”

 

Protect your assets

Although you share many things with your partner, in some cases it makes sense to have some separation. Maybe you recently received an inheritance or a large return on an investment you made prior to the relationship. In such cases, it’s a good idea to put a portion of those funds in a separate account in your name alone. Be sure to designate any intended heirs as beneficiaries, too; seek legal advice from a qualified family law practitioner.

 

Update your estate planning documents regularly

At least once a year, read over your will, power of attorney or trust to ensure everything is as you want it. If anything needs updating, don’t procrastinate—make the changes right away. Keep in mind that if you divorce and your former partner remains listed as a beneficiary, they may still be able to claim the benefits. As discussed, it’s a good idea to get appropriate legal advice.

 

Review life insurance and long-term care needs

If your partner passes first, is your insurance set up to prioritize your long-term care? Review your policy together to ensure you both understand what the financial situation would look like upon the other’s passing. You’ll also want to prepare for the possibility of being removed from your partner’s policy if you divorce.

 

Create an inventory of financial assets

It’s vital to take inventory of your combined financial assets. If you divorce, this documentation will ensure you receive everything you’re legally entitled to. A financial advisor is a useful resource here—they can help take any guesswork out of your plans. Dealing with the loss of a partner is difficult enough without added financial strain.
 

Get experienced advice
Jeanette Power and her team work with a diverse group of clients; ranging from affluent families and business owners, to female executives and divorcees across the country. Specifically, her tenure has given her the expertise needed in the financial issues of divorce settlement options. Providing an objective viewpoint, Jeanette uses an informed and diligent approach, examining long-term implications in a given scenario, to ensure an outstanding level of service.
 

The Power Investment Team is here to support all of life’s transitional moments—both happy and unexpected. For any questions about how to protect your wealth, reach out to our team any time: thepowerinvestmentteam@cibc.com  

 
Knowledge is power...

 

 

The Power Investment Team has curated a list of resources and helpful links to guide and support women in the areas that are most relevant to them. Be sure to add this to your favorites as we update it regularly:

 

CIBC Women’s Circle

CIBC personal banking - women and money

Resources for women in business - Canadian Chamber of Commerce

Settlement.org Ontario - what are my rights if I get separated or divorced?

Women entrepreneurship knowledge hub

The Judy Project

Programs & services for caregiving

 

Remember, being armed with financial knowledge can help create a sense of empowerment that women can rely on in any situation. It is the cornerstone to building and maintaining wealth, provided by an experienced and dedicated wealth advisor.

 

We welcome your questions and look forward to hearing from you. Send us an email thepowerinvestmentteam@cibc.com or call 905 804-2240 / toll-free 1 800 469-2583.

 

Women in Wealth Management Summit 2024:
3 photos of panel for women in wealth summit along with core values and points on life and money

Empowering women in finance — continuing to prioritize important conversations
In recent years, we know that women have made notable advancements in the finance sector, breaking down barriers and challenging traditional gender norms. Despite this progress, obstacles can still hinder women's full participation and advancement.

On December 4, I attended an informative summit in Toronto where a panel of female leaders discussed their personal stories and shared experiences designed to help women navigate career and growth.
 

Some key points:

  • Unique challenges women in wealth management have faced and overcome.
  • How mentorship and networking play a role in advancing a career in wealth management, and how women can support each other.
  • Where we are on the journey - how female finance professionals are elevating their voices and keep moving forward.

If you would like to learn more about this summit, reach out to our team or visit:
Women in Wealth Management Summit Canada

 

Redefining women’s financial futures:
Strategies for building a retirement vision and navigating this key life transition

CIBC logoPresenter with slide showing the words: Redefining women’s financial futures: Strategies for building a retirement vision and navigating this key life transitionKelley Keehn and Dr. Rumeet Billan

Planning for big life moments and transitions can feel challenging as it involves more than just financial considerations; the emotional aspect, also plays a critical role in setting the foundation and vision. In our recent Women, Money, and Wealth survey in partnership with Women of Influence+, retirement emerged as a significant life transition on the minds of women.

Two industry leaders, Kelley Keehn and Dr. Rumeet Billan addressed our clients and guests in November, sharing their insights into long-term planning, fulfilling aspirations and providing strategies to help women make the most of their retirement goals. You can access the presentation here: women in wealth

Questions about your retirement wealth planning journey? Connect with The Power Investment Team any time!

 

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Financial Priorities and Challenges for

Canadian Women

Collage of various women who are different ages and different ethnicities

Today more than ever before, women are re-evaluating their relationship with money and are voicing what’s important about their wealth planning journey. It is for this reason my team and I would like to share some interesting findings.

Women of Influence, along with CIBC, have uncovered insights into wealth-building challenges, financial empowerment, and the path to economic independence for Canadian women.

Access the complete survey and other timely reports here:

Financial Priorities and Challenges for Canadian Women

 

Women in Private Wealth – CIBC Symposium

“Strong women support, inspire, and celebrate each other.”

 

 

 

 

 

 

 

 

 

 

 

Recently, I was invited to be a guest speaker at CIBC’s inaugural women’s symposium; a networking and career development opportunity for private wealth professionals like myself.

As I think back on my career path, I recall how the financial services industry has undergone such a tremendous transformation over the decades. Once a male-dominated industry, it has evolved to embrace diversity and inclusion as fundamental pillars of success. Furthermore, I have witnessed this evolution firsthand, and I’m proud of how far we have come.

When I started in this business over 30 years ago, there were very few female advisors and even fewer mentors for female advisors. Throughout my journey, I’ve been fortunate to have had the support of incredible female mentors and advocates who have lifted me up and championed my success. In fact, the very first advisor I worked with believed in me, and encouraged me every step of the way throughout my becoming an advisor; he was my mentor and my ally!

I believe in the power of mentorship and I’m passionate about empowering and inspiring the female leaders of tomorrow to reach new heights and shatter their own glass ceilings. This is what inspired me to become the co-lead of a Mastermind Group comprised of many incredible female advisors who are part of this symposium. It’s a forum for sharing our ideas, uplifting and encouraging one another throughout our journey in this business.

Therefore I urge all women, whether they are my esteemed colleagues or my valued clients, to be champions for change, a voice for equality and a mentor to those who need guidance and support.

 

Symposium Key Takeaways:

S       Self-awareness.

U      Understanding who you are.

C       Cause – what is your purpose?

C       Consistency and communication.

E          Empathy and evolution.

S       Story – be authentic and true to yourself.

S       Self-discipline, self-respect and self-care.

 

 
Celebrating the achievements of women with an inspirational guest speaker!
 


The 2024 International Women’s Day theme is Inspire Inclusion.


When we inspire others to understand and value women's inclusion, we forge a better world. And when women are inspired to be included, especially by a fellow ally, there is a sense of belonging, relevance and empowerment which can be relatable to anything they set out to accomplish.

 

It is with this mindset that our team proudly hosted an exclusive luncheon event featuring the Hon. Lisa Raitt, Vice Chair, Global Investing Banking, CIBC Capital Markets. With her refreshing candor and unique insights, she made a significant impact on our guests; sharing her life and business experiences which truly resonated with many of us in attendance. Ms. Raitt engaged our clients, both female and male, in great discussions during our fireside chat and we’re delighted she could join us!

 

Interested in learning more about our women's wealth initiatives? Would you like to be added to our guest list for future events? Send us an email: thepowerinvestmentteam@cibc.com or call 905 804-2240. We look forward to hearing from you.

 

Helping women shape their financial identity...preparing for a strong financial future

 

 

Did you know: Women control a large chunk of Canadian financial assets, about $2.2-trillion to be exact. Jeanette and her team work with women executives and entrepreneurs, helping them manage their wealth to plan for a long and secure financial future for themselves and their families.

Learn more: Globe and Mail - August 16, 2023

 

Discover our 5 Wealth Planning Tips for Women and how you can align both your wealth planning and personal goals to strengthen your financial future.

 

My team and I know your wealth aspirations are just as unique as you are. Connect with us to learn how we can provide professional and authentic advice:  thepowerinvestmentteam@cibc.com

 

 

Taking an active role in your financial well-being
 

The Power Investment Team The Power Investment Team The Power Investment Team

 

Our wealth partners and I were honored to speak to a dynamic group of business women at this year’s Healthy, Wealthy & Wise Women in Dentistry ROI Conference on November 3.

We presented our comprehensive wealth and estate planning strategies, showing how women in business can align both their wealth and personal planning goals to strengthen their financial future.
 

Our key takeaways:

  • Women face unique challenges and circumstances, therefore they need a different approach to financial planning
  • Building a plan is the first step in your financial success
  • Investing – start early, make regular contributions, focus on building your knowledge
  • Retirement – set goals, identify income sources, prepare for the unexpected
  • Estate planning -  have a plan and communicate it with your loved ones
     

As a business woman, you are managing multiple responsibilities, achieving professional goals, and maintaining work-life harmony. The Power Investment Team can manage your wealth planning goals so you can focus on doing what you do best - building a successful business!

 

DID YOU KNOW?
CANADIAN WOMEN ENTREPRENEURS ARE ON THE RISE

 

 

Canadian women entrepreneurs are, more than ever, a force to be reckoned with. Experiencing a profound uptick of success in recent years, Statistics Canada found that over 60% of majority women-owned businesses in the private sector are looking optimistically at the future.

Click here to learn more.

 

 

 


Why Women Need Greater Confidence in Money Matters
 

According to a national survey conducted on behalf of the Financial Planning Standards Council (FPSC), women are significantly more likely than men to lose sleep over financial worries. While the study found that 42% of Canadians rank money as their greatest source of stress, 51% of women, compared to 40% of men, are more likely to stay awake at night because of financial stress.

 

Click here to read the full article.

 
The Collective Wisdom of High-Performing Women - Presented by The Power Investment Team

Notebook and a coffee.

 

 

 

 

 

 

 

"The thing about ambition is that it’s not about the destination, it’s about the journey.”  – Judy Elder

 

Earlier this year, The Power Investment Team held a unique luncheon presentation featuring some of the authors of a well-known Canadian leadership book entitled: The Collective Wisdom of High-Performing Women.  This book comes from the voices of experience, from 70 women who participated in The Judy Project, a leadership program run by the Rotman School of Management, that has trained over 400 women for future leadership positions.

 

Our guest panel: Beth Wilson, Colleen Moorehead and Sandy Sharman shared their personal journeys with candid reflections, discussing the choices they made to manage their personal and professional lives. They also shared their views on how The Judy Project impacted their careers and lives and continues to do so today. You can learn more about The Judy Project, by visiting their website: https://www.thejudyproject.ca/

Jeanette Power and the guest panel.

 

 

 

 

 

 

 

 

 

 

 

If you would like to be added to our guest list for any of our upcoming women’s events, email: thepowerinvestmentteam@cibc.com or call us 905 566-3352.

 

Women, Wealth & Wellness

 

 

Only you know what you need and what matters most to you. Many women I talk to feel their concerns regarding their financial needs are not being heard or addressed.  Furthermore, a growing number of women have become the primary breadwinners of their household, in addition to being the primary money managers. Over the past few decades, as women’s careers have advanced, so have their earning power and net worth.


My team and I recognize this milestone which is why we take a holistic approach to women’s wealth planning, understanding the unique needs women face requires great care and attention to detail.

Our services include providing an informed, diligent and consultative approach to:

  • Financial issues of elder planning
  • Divorce settlement options review
  • Private investment and banking counsel
  • Estate and trust services
  • Webinars tailored specifically to women and wealth

 

“A woman’s health is her capital.”  - Harriet Beecher Stowe

In late October, The Power Investment Team held a Women, Wealth & Wellness event for our clients at Oxygen Yoga & Fitness in Burlington.  Our host, Jeanette Power, welcomed our group and discussed the importance of having balance in our daily lives.

 

 

 

Our incredible instructor, Emily Bertrand, lead us through an invigorating Candle Light Deep Stretch that emphasized the importance of nurturing the body and mind through yoga.

 

 

 

We also heard from Sarah Patterson, a Psychologist, who shared her expertise about self-care for women, and from Bodhi Bar owners Naiomi & Ryan, who discussed the importance of juicing.
 

According to Sarah, taking good care of ourselves as women does not always involve time, money or activities. These often become barriers to the care we require, especially during difficult times. The ability to respond to our emotions, stress and personal challenges can be cultivated and practiced in the moment.  Self-Compassion is an evidence-based practice that allows us to respond to ourselves with the kindness and care we would extend to a good friend.  You can learn more about self-care via this link:  https://self-compassion.org/

 

If you would like to be added to our guest list for our upcoming 2023 women’s events, kindly email us at: thepowerinvestmentteam@cibc.com or call 905 566-3352.

 

We look forward to having you join us!

  

 

 
 
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CIBC Private Wealth” consists of services provided by CIBC and certain of its subsidiaries through CIBC Private Banking; CIBC Private Investment Counsel, a division of CIBC Asset Management Inc. (“CAM”); CIBC Trust Corporation; and CIBC Wood Gundy, a division of CIBC World Markets Inc. (“WMI”). CIBC Private Banking provides solutions from CIBC Investor Services Inc. (“ISI”), CAM and credit products. CIBC Private Wealth services are available to qualified individuals. Insurance services are only available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are only available through CIBC Wood Gundy Financial Services (Quebec) Inc.


CIBC Private Wealth services are available to qualified individuals. The CIBC logo and “CIBC Private Wealth” are trademarks of CIBC, used under license.