News - Meetings of 7:22 Breakfast Club

January 22 2014

Submitted by Robin Claus

Executive Announcements

Treasurer Announcement: Pay your dues please.

Social Announcements

none

General Announcements

Sharon of Leisure Travel 2000: Info evening Feb 5th on Cruise Lines (medium sized ships) Also she warns us that prices are rising due to Canadian dollar drop so if anyone was thinking about booking - do so before monday coming. This includes SunQuest, Transat, AirCanada Vacations. Keith Moen of North Saskatchewan Business Association: Business Awards application Deadline is Jan 31. Tickets available for Huskies game on the 28th from.... Mike?(sorry) There is a Seminar on Feb 11th Tues at 830 to 1130 am at the Saskatoon Club on valuation, selling and buying a business..... Contact...?(sorry:( )

Speaker | Greg White, Certified Financial Planner, Retirement Consultant and Partner at McFaull Consulting

Family: Wife Lorna, two kids in University and the last is finishing Grade 12 this year. Recreation: Golfing, Spending time at Candle Lake, cycling, snow machine riding, and fishing Previous Experience: Banking Officer with TD bank for many years prior to McFaull Company Profile: Established in 1955 by Jack McFaal, later handing the reins to his son Herb McFaull. Greg joined in 1999. There are 3 Partners and 6 Advisers in Saskatoon and 5 Advisors in their branch office of1st Rate Financial in North Battleford. Everyone helps each other out. Staff compensation is based on business success for the whole office.There are no quotas to achieve so you will not feel pressure to buy. The business is independant from any specific banking or insurance institution; this allows the partners and advisors to make meet the flexable needs of their clients. Current Business: We help people in transition. Into retirement or between jobs. Greg is the business specialist with concern to selling or changing ownership of a company. He helps to coordinate the soft sides of the business hand-off. They help poeple with the loss of a spouse, protecting assests from financial upheavals. Life, illness and disability insurance concerns are referred to trusted agents. "Always remember that insurance is a tool." Long-Term Care insurance is an asset protection popular with his high net-worth clients. Its very easy for bills of 6k/month to eat into your nest egg. They also help people save for retirement with RRSP's or RRESP's Greg goes on to explain the difference between Dividends from a company vs. salaries that allow for RRSP contributions. He helps people find the right tools to save money. Why this company is different: Independent Control what they deliver No quotas or high pressure sales tactics Company Challenges: Marketing is by word of mouth. Just giving the best service to clients and getting refferals is how they like to do business. They work to stay abreast of new compliance rules and changing regulations, dancing around risks, etc. They must have a strategic diversity in stocks, bonds, equity, and cash to stabilize and protect investments while staying broad based and global. Questions: Drawing dividends from a business gives no RRSP room but you pay much lower corporate taxes. Drawing a salary would allow for RRSP's but the personal income taxes are higher. Milton stands to endorse Greg's services for his small business - it gives him and his staff piece of mind.

Sergeant at Arms

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Hidden Hand

Rodney - gets a few people! hahha!

Pot of Gold Winner

Rodney for $6

Other Business

Roger was officiating for Cheryl who was unable to make it today. Joke of the Day from Mr. Lyle Burkel about sex but not sexist. ( yay Lyle )

Next Meeting

2014-02-12 (7:22 a.m.)


2017 Meetings

August 23
September 13 & 27
October 11
Thursday, October 26
November 8 & 22
December 13

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