MILES RUBINOFF: President BRASH FINANCIAL
Miles Rubinoff has been working in the financial services industry for nearly two decades, providing professional advice and strategies on wealth creation, wealth preservation and wealth transfer to businesses, business owners, families, and clients of all ages, in the most tax efficient ways.
Whether you’re saving for your child’s education, planning a vacation,
building a nest-egg or managing your finances during retirement, Miles can help you create an investment portfolio that fits your needs and protects you, your family and business in the event something should happen.
Along with helping you build and manage your investments, Miles can
help you choose insurance products to help reduce your financial risk to you,
your business and your family, such as Insurance Disability Insurance, Critical Illness, Health Benefits, Investments and Pensions and transfer of wealth to the next generation, in the most tax efficient way.
My Business Magazine asked Miles to talk about saving for the future, and preparing for the future....
MBM: What do people need to know most before meeting with you?
Miles: We always use that phrase, “You don’t hire a plumber to do your roof; you hire a specialist to give you the best advice and service” because they are the expert and that’s what they specialize in and do day in and day out.
People want to build a relationship and trust with an individual that specializes in what they need done and will show them the best ways to accomplish their goals.
Most people know they will retire and slow down one day. They know they
have to save, they aren’t sure what they have saved, or they don’t know if they’re saving enough.
Whatever the case, it pays to have a specialist examine or reexamine things
to determine if it is being done well to meet and exceed your needs.
MBM: Tell us the “how” of what you do.
Miles: I take a very unique approach. I help people find money they’re currently losing unknowingly, and unnecessarily. I help individuals, business owners, and families, see their lifetime capital potential, and develop a
realistic cash flow strategy so that they will be able to retire at the time frame that they have chosen or desire.
"I help them accomplish this aiming for the same standard of living that they are living today, or at a better standard of living than they are living today, when they are no longer working, or working as hard."
At the same time, I also protect them and their families in event something unexpected should occur.
If we had a crystal ball and we knew exactly how long we were going to live, it would give us a road map as to what to do and when to do it.
But because we aren’t given these details, we have to plan for all scenarios or one may put it off.
MBM: What are your biggest strengths?
Miles: The ability to listen and care. I think you can’t care if you’re not listening to client’s needs. I always try to put myself in the shoes of others, and I realize that no two people are alike, even if there are a lot of similarities.
A plan can be had for everyone. Caring will tailor that plan, and make it more individualistic, and look after their own needs better.
MBM: There are many things you emphasize in deciding what to recommend a client, correct?
Miles: Absolutely, it’s holistic.
I start with collecting detailed information about each client and learning what their important needs are while ensuring they are well taken care of today, tomorrow and in the future. We prioritize what is important and work on what
is most critical to give them security for their business, family and self.
MBM: Explain your corporate services a little bit.
Miles: A lot more of my focus, especially in the last five to seven years, has been in corporate services.
I recognize that growing companies, large and small, are being challenged to become more profitable and become more efficient, and as such, more and more people are choosing to become self-employed.
Most people don’t have the luxury of having a group pension or health benefits and unfortunately people may get sick unexpectedly. For as little as one percent of your income you could protect you and your family for the unexpected. It becomes more important for business owners to protect
themselves because if they don’t wake up in the morning and can’t do what they do, there’s no safety net for them.
MBM: What kinds of things do you ask your clients?
Miles: One of the questions I ask is: do you know the rate of return that you need for your savings or investment dollars, to allow you to retire at the current standard of living? And how much do you need to earn to last your expected life expectancy?
Some people have put money away, some haven’t, but not everyone knows the fine details of what is needed to retire comfortably and may require a second opinion to review and confirm that their plan is working the best for them.
I use tools to measure reasonable risk and return to be achieved to calculate what client’s needs and wishes are. We create a plan, so that if people don’t know we can formulate a road map to build and follow, based on these projections.
Another question is, do you know how much you need to save annually, in which to retire at your current standard of living, to allow your money to last, your life expectancy?
People could be putting money away randomly, but it might not be enough. It’s hard to buy shoes, if you don’t know your shoe size.
MBM: What fulfills you most?
Miles: At a very young age I appreciated the hard working value of money. I was attracted to it and respected it. From the age of 11, I worked every weekend, until I got married.
With that came the self-pride of earning money. But with that I always seemed to search out ways to save and grow the money.
I asked a lot of questions of experts that mentored me along the way and learned a lot of different approaches that work well and learned to adopt and tweak these practices as well I also created some of my own philosophies and ways of doing things well.
What I learnt from my childhood is that I come from a long family lineage of teachers and sales entrepreneurs and I mingled those two successfully.
Behold, my hobby and passion has become my career. I have counseled and trained advisers as well as my clients, and other people’s clients and love doing what I do for others.
My philosophy is: I don’t want you up at night worrying about tomorrow. Don’t go to sleep worrying that you aren’t protected for the unknown or you won’t be able to retire.
There’s a plan for everyone, and it’s never too late.
I try to educate and help my clients because I want people to feel protected and confident about their future. I want them to overcome their challenges and fears. I enjoy bringing confidence and restoring trust that their business,
family and themselves are well taken care of, so they can live their lives well and not worry so much. It puts a smile on their faces that they can sleep better at night not worrying and enjoying life more.
As my career has progressed, I’m actually seeing my clients buy the bigger home, save for the future, semi-retire and retire comfortably and know they are in good shape.
This is a result of asking them the questions that no one’s asking them. I’m finding solutions to their problems and concerns so that they can have the things in life that they want, reasonably well.
Dave Gordon has penned more than a thousand articles, and more than five hundred editorials, on every topic imaginable. He writes regularly on domestic and international politics, current events, culture, relationship issues, and much more.
He has spent time in the newsrooms of the Toronto Sun, Pittsburgh Post-Gazette, Baltimore Sun, National Post and eye Weekly.
President & Owner, Brash Financial Inc.
Office: 905-202-8430 ext. 638