In this episode of Think Smart with TMFG, Mike Connon and John Iaconetti, Financial Advisors at The McClelland Financial Group of Assante Capital Management, discuss when it makes sense for Canadian business owners to incorporate and what factors should drive that decision. They explain why there is no single income level that automatically signals incorporation, and why future growth, cash flow needs, and long-term goals matter more than a fixed dollar threshold. They walk through 5 key considerations for growing businesses, including tax-efficient compensation strategies using salary versus dividends, managing risk through proper corporate structuring, and protecting the business with insurance. The discussion also covers investing excess cash inside a corporation, how Capital Dividend Accounts work, and how passive income can impact the small business deduction. Finally, they emphasize the importance of maintaining accurate records, maximizing legitimate deductions, and planning for long-term corporate wealth and eventual exit strategies. Whether transitioning a business to family, selling it, or winding it down, they emphasize that early planning and professional advice are essential to building value and avoiding costly mistakes. If you would like guidance on corporate planning or are considering incorporation for your situation, please schedule a meeting here: Schedule your meeting here. Follow us on our social channels:LinkedIn: The McClelland Financial GroupFacebook: https://www.facebook.com/tmfg.caInstagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of Think Smart with TMFG, Mike Connon and John Iaconetti, Financial Advisors at The McClelland Financial Group of Assante Capital Management, discuss common estate planning mistakes and practical strategies for Canadians. They explore why having a properly structured will, appointing executors, and setting up powers of attorney are critical for a smooth estate transfer and for protecting your family. They also highlight the risks of dying without a will, including the government dictating how assets are distributed, potential family disputes, and delays caused by non-liquid assets, like cottages or other properties. They emphasize the importance of beneficiary designations, insurance strategies, and ensuring liquidity in your estate to manage taxes and unexpected costs efficiently. Ultimately, they stress the importance of documenting decisions and communicating with family members to prevent ambiguity, safeguard relationships, and alleviate stress for loved ones. They explain that a will and a power of attorney are separate tools, each with specific roles, and that acting while in full capacity is essential to avoid future complications. Careful estate planning is not just about money; it’s about protecting your family, preserving your legacy, and ensuring peace of mind. If you would like guidance on creating an estate plan tailored to your specific situation, please request a meeting here: Schedule your meeting here. Follow us on our social channels:LinkedIn: The McClelland Financial GroupFacebook: https://www.facebook.com/tmfg.caInstagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of Think Smart with TMFG, Mike Connon and Carlo Cansino, Senior Financial Advisors at The McClelland Financial Group of Assante Capital Management, explore practical strategies for Canadians approaching retirement. They highlight the challenges many retirees face, including navigating pensions and government benefits, as well as planning for unexpected expenses. Mike and Carlo discuss the decline of traditional defined benefit plans and emphasize the importance of supplementing public pensions, such as CPP and Old Age Security, with personal savings and tax-advantaged accounts, including RRSPs and TFSAs. They also explain how timing decisions, like deferring CPP or OAS, can significantly boost retirement income, and how sharing benefits with a spouse can help manage household taxes. Unexpected costs are a common source of stress for retirees, including everything from home maintenance and condo assessments to healthcare expenses, such as dental work. Finally, they address the misconception that retirees should drastically reduce their equity exposure. Since inflation affects retirement expenses, maintaining growth-oriented investments is crucial to ensure your portfolio keeps pace over a long retirement horizon. Ultimately, they emphasize that retirement planning is dynamic: your plan should evolve in response to life changes, while keeping you prepared for unforeseen expenses, thereby helping you retire with confidence and peace of mind. If you want guidance on creating a retirement plan tailored to your goals, request a meeting here: Schedule your meeting here! Read the article: "In Your 50s and Thinking About Retirement, What to Know” by Financial Advisor Ingrid Kucera at TMFG, and learn how to turn your retirement savings into a dependable income strategy that supports your long-term goals with confidence. Follow us on our social channels:LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/

In this episode of Think Smart with TMFG, Mike Connon and Carlo Cansino, Senior Financial Advisors at The McClelland Financial Group of Assante Capital Management, dive into practical strategies for Canadians who want to invest smarter without getting caught up in market hype. They emphasize that long-term success isn’t about chasing the latest hot stock or sector; it’s about having a clear, goal-based financial plan that guides every decision. They break down why diversification across sectors, asset classes, and geographic regions is essential, and how regular portfolio rebalancing helps you stay on track and maintain your risk tolerance. Mike and Carlo also discuss common investor pitfalls, from fear of missing out to reacting emotionally to short-term market swings and explain how a disciplined plan helps you stay focused during volatile times. Finally, they share insights from research showing that investors who adhere to written, goal-based plans are significantly more likely to achieve their long-term objectives. For more in-depth guidance on how investor behaviour impacts wealth, check out Tyler Robertson’s Financial Advisor at TMFG, article on our website: Stay Out of Your Own Way To Be a Successful Investor If you want help creating a plan that aligns with your goals and keeps you on track through market fluctuations, request a meeting here: https://tmfg.ca/schedule/ Follow us on our social channels: Linkedin: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: instagram.com/themcclellandfinancialgroup_/

This Think Smart with TMFG episode, hosted by Mike Connon and John Iaconetti, Financial Advisors of The McClelland Financial Group at Assante Capital Management, explores why retirement feels more challenging today and how inflation is affecting Canadians’ long-term financial plans. Key Takeaways: Inflation is making retirement more expensive, and many retirees are having to adjust their plans because everyday costs continue to rise. People now believe they need to save much more, close to $1 million, to feel comfortable in retirement. Government benefits help, but don’t keep up, which means planning, the right investment mix, and smart withdrawal strategies are more important than ever. In today’s economy, rising costs are a constant reality, not a temporary hurdle. The key to a successful retirement is preparing for the uncertainties of inflation and ensuring your plan can adapt as life changes.

This Think Smart with TMFG episode, hosted by Mike Connon and Carlo Cansino, Financial Advisors at The McClelland Financial Group of Assante Wealth Management, explores how rising tariffs and trade tensions are reshaping Canada’s economy and global markets. Key Takeaways: Canada sends 75% of its exports to the U.S., making it vulnerable to trade disruptions. Emerging markets, such as China and India, are becoming major economic players and presenting new opportunities for investors. A balanced portfolio with a home bias helps reduce currency risk and stay tax-efficient. This episode highlights why TMFG encourages diversification in both trade and investing to remain resilient in a changing global economy.

This Think Smart with TMFG episode, hosted by Mike Connon and Carlo Cancino, Financial Advisors at The McClelland Financial Group of Assante Wealth Management, dives into what they call “The Advisor for Life Conundrum.” Many clients hope to work with one trusted advisor for their entire financial journey, but how realistic is that when an advisor’s career may last 30 years and a client’s financial plan can span 50 or more? Key Takeaways: Building lifelong trust means creating a consistent client experience, not just a single relationship. A strong advisory team ensures continuity even as individual advisors retire or transition. Professionalism, motivation, curiosity, and likability are core to maintaining lasting client confidence. This episode highlights how TMFG focuses on delivering a seamless, high-quality advisory experience that stands the test of time, ensuring clients and their families are supported for generations.

This Think Smart with TMFG episode, hosted by Mike Connon and Carlo Cansino, Financial Advisors at The McClelland Financial Group of Assante Wealth Management, shares insights from a recent AI-focused conference. They explore how tools like ChatGPT can be incredibly powerful, but only when used by experts. Just as using a heavy concrete saw without experience can be risky, relying on AI without proper guidance can lead to mistakes. Key Takeaways: AI boosts efficiency but doesn't replace human judgment. Quick answers from AI can mislead if used without expertise. Professional insight ensures AI is used safely and effectively. AI is fascinating, powerful, and sometimes unpredictable. This episode reflects on how tools like ChatGPT can amaze us, while also reminding us that experience and context still matter.

This Think Smart with TMFG episode, hosted by Mike Connon and Carlo Cansino, Financial Advisors at The McClelland Financial Group of Assante Wealth Management, explores the chaos of losing a cell phone on vacation and its surprising impact on modern life. From travel apps to reliance on technology, they explore the challenges and offer essential tips for parents and travellers alike.   Key Takeaways: Social Lifeline: For teenagers, a phone is their entire social network; losing it can cause panic. The Paid Data Trend: The incident revealed that apps like Snapchat are shifting to a paid model to let users keep their historical data. Navigation Struggles: The hosts noted the common reliance on GPS apps like Waze, with young adults struggling to navigate without digital guidance. In the connected world, a phone is now essential for daily life, not just communication. The key to successful travel and parenting is planning for the uncertainties of technology failure and loss.  

This Think Smart with TMFG episode, hosted by Mike Connon and John Iaconetti, Financial Advisors at The McClelland Financial Group of Assante Wealth Management Ltd, explores how the lifespan of home products has changed, from old 40‑year lawnmowers to today’s modern appliances. Key Insights: Modern products often last less but are more efficient. Knowing how long things last helps you plan for replacements. Budgeting ahead makes unexpected home costs easier to handle. Planning and budgeting for home repairs and replacements is key to keeping your home running smoothly in today’s world.

Join Mike Connon and Carlo Cansino, Senior Financial Advisors at The McClelland Financial Group of Assante Capital Management Ltd., as they explore the psychology of retirement. They explore the four common mindsets people have as they approach this major life transition: the countdown-to-retire, those accepting severance packages, the one-more-thing crowd, and those who never plan to stop working. Discover how identity, family dynamics, and financial readiness shape retirement decisions, and why understanding your own mindset can make all the difference in creating a fulfilling next chapter.

This Think Smart with TMFG episode, hosted by Mike Connon and Carlo Cansino, Financial Advisors at The McClelland Financial Group of Assante Wealth Management, explores the top concerns Canadians face as they approach retirement. The hosts highlight the challenges of balancing financial security, health needs, and market uncertainty as retirement gets closer. Key Takeaways Healthcare Costs: Many retirees worry about rising healthcare expenses and whether government benefits will be enough to cover long-term care needs. Outliving Savings: A major fear is running out of money, especially with longer lifespans and unpredictable expenses in retirement. Market Volatility: Concerns over potential market corrections can create uncertainty about whether investment portfolios will sustain income over time. Balancing Lifestyle & Security: Retirees struggle between enjoying their savings now and preserving enough for the future. Final InsightRetirement planning is not just about saving enough, but about preparing for uncertainties. With proper financial guidance and a long-term plan, retirees can navigate healthcare costs, market changes, and longevity risks with more confidence and peace of mind.

This Think Smart with TMFG episode, hosted by Mike Connon and John Iaconetti, Financial Advisors at The McClelland Financial Group of Assante Wealth Management, explores the rapid growth of artificial intelligence (AI), especially ChatGPT. They discuss how AI has expanded far beyond its initial perception as a student tool into healthcare, business, finance, and everyday life. While AI offers major benefits - such as medical advancements, efficiency in business, and productivity tools - it also presents risks including misinformation, over-reliance, job displacement, and mental health concerns. The hosts conclude that AI is a powerful tool, but human judgment remains essential to ensure it is used responsibly. Key Takeaways AI’s Growth: From early confusion around ChatGPT to now having over 800 million users, AI adoption has been rapid and widespread. Applications Across Industries: AI plays roles in healthcare (disease detection), business (inventory management, robotics), transportation (self-driving and park assist), and finance (portfolio monitoring and client tools). Productivity Gains: AI assists with writing, research, meeting summaries, and routine business tasks, freeing time for higher-value work. Risks & Concerns: AI can reinforce harmful ideas rather than provide sound advice. Potential misuse in misinformation, surveillance, or weaponization. Risk of job loss if displaced workers aren’t transitioned into meaningful new roles. Mental health concerns when individuals rely on AI for guidance. Best vs. Worst Case Scenarios: Best: AI enhances healthcare, education, science, climate solutions, and relieves humans from repetitive work. Worst: AI fuels misinformation, job loss, inequality, and loss of reality through deepfakes and false content. Final Insight: AI is a tool—its impact depends on how responsibly humans use it. Critical thinking and human oversight are irreplaceable.  

This episode of Think Smart with TMFG — hosted by Mike Connon with guest Carlo Cansino — explains practical strategies for charitable giving in Canada. They cover giving cash, donating securities to avoid capital gains tax, naming charities as beneficiaries of insurance and RRSP/RRIFs, and using donor-advised funds to create a flexible, tax-efficient legacy. Learn about tax receipts, tax-free growth inside donor-advised funds, minimums and annual distribution rules, and how to time donations in high-income years to increase impact.

Join Mike Connon and Carlo Cansino, Senior Financial Advisors at The McClelland Financial Group of Assante Capital Management Ltd., as they take a closer look at the essentials of estate planning for Canadians. In this episode, they break down what probate is, how provincial probate fees work, and the common strategies to minimize those costs — from beneficiary designations and joint accounts to the use of insurance. Mike and Carlo also explain the tax rules that apply at death, how spousal rollovers can defer taxes, and when wills or trusts may be the right solution. They emphasize the importance of aligning your estate strategy with your personal situation, and why clear, accurate beneficiary designations can make all the difference. Blending straightforward explanations with practical financial insight, this episode helps Canadians understand how to avoid costly mistakes in estate planning. Whether you have a simple estate or a more complex one, Mike and Carlo share key considerations and encourage you to seek professional guidance to ensure your wishes are carried out effectively.

Join Mike Connon and John Iaconetti, Financial Advisors at The McClelland Financial Group of Assante Capital Management Ltd., as they take a closer look at misleading advertising and how it can shape — and sometimes distort — financial decisions. In this episode, they break down common marketing claims, from active investment fund promises and the old “Freedom 55” dream to product hype like miracle toning shoes, “clean diesel” campaigns, and even the way coolers were sold as lifestyle upgrades. Mike and John explain how advertisers often gloss over risks, exaggerate potential benefits, or disguise hidden costs. They highlight why these tactics can be so persuasive, the real impact they can have on investors and consumers, and how to spot the red flags in everyday ads. Blending real-world examples with practical financial insight, this episode encourages Canadians to think critically about the messages they see and hear. Whether you’re investing, saving for retirement, or simply making everyday purchases, Mike and John share strategies to help you cut through the noise and make informed decisions.

Join Mike Connon and John Iaconetti, Financial Advisors at The McClelland Financial Group of Assante Capital Management Ltd., as they unpack one of the biggest financial debates Canadians face: renting versus buying a home. In this episode, they break down the real investment benefits of real estate—covering tax advantages, leverage opportunities, and what typical long-term returns actually look like. Mike and John provide clear guidance tailored to three key life stages. For those 18–30, they highlight the risks young buyers face and why renting might sometimes be the smarter move. For ages 30–70, they discuss the stability and family security that come with homeownership. And for retirees 70+, they tackle the liquidity concerns and financial trade-offs of staying in—or selling—your home. Blending professional insight with practical advice, this episode offers a balanced perspective to help you make the right decision at every stage of life. Whether you’re saving for your first place, raising a family, or considering downsizing in retirement, Mike and John share the strategies you need to confidently navigate the rent vs. buy decision.

Join Mike Connon and John Iaconetti, Senior Financial Advisors at The McClelland Financial Group of Assante Capital Management Ltd., as they unpack the complexities of inheritance planning. In this episode, they explore how to prepare your children to responsibly manage the wealth they may inherit—focusing on the importance of building strong financial habits early in life. From using trusts to hosting purposeful family meetings, they share actionable strategies to protect your legacy and ensure a smooth transfer of wealth across generations. Along the way, you'll hear timeless lessons from thought leaders like Warren Buffett, plus practical advice to help you avoid the common pitfalls of generational wealth. Whether you're planning your estate or thinking ahead for your family’s financial future, this episode offers essential insights to guide the way.

In this episode of "Think Smart with TMFG," hosts Mike Connon and Financial Advisor, John Iacanetti at The McClelland Financial Group of Assante Capital Management Ltd., dive deeper into the world of credit cards—an everyday financial tool that’s often misunderstood. Building on their previous discussion, they explore practical strategies for effective credit card management, offering listeners actionable tips to maximize benefits while avoiding common mistakes.  Learn how to maintain a healthy credit balance, steer clear of pitfalls like carrying unpaid balances and using cash advances, and make the most of your rewards programs.  John also shares his personal experience navigating credit card debt, shedding light on how disciplined habits and smart usage can make a real difference.  They cover the many perks of credit cards—fraud protection, extended warranties, and convenience—while offering key advice on interest rates, automatic payments, and subscription management.  Whether you're new to credit or looking to sharpen your approach, this episode is full of valuable insights to help you use credit cards wisely and strengthen your financial well-being. 

In this episode of Think Smart with TMFG, Mike Connon and Senior Financial Advisor at The McClelland Financial Group of Assante Capital Management Ltd., John Iaconetti dive into the often-overlooked complexities of credit cards — a modern financial tool that’s both essential and potentially risky. They unpack the benefits, from building credit history to maximizing rewards, while offering a clear-eyed look at common pitfalls like high interest rates and overspending. You’ll also learn how credit card companies really operate, debunk popular myths about credit utilization, and get practical tips for choosing the right card to fit your lifestyle and financial goals.