For twenty years Cory Budovitch
and his Budovitch Legacy Planning team has helped thousands of wealthy clients with estate preservation, tax minimization, generational wealth transfer, and risk management. Cory and his team create solutions for their client’s by first listening to understand their needs, and then by working seamlessly with their other advisers to create an all-encompassing, holistic solution.
The firm’s clientele are largely entrepreneurs, business owners,
athletes and executives, in other words, the top one percent of the world's wealth. "Our high net worth clients come to us from referral sources whether it be an existing client, or their Accountant or Tax Lawyer. We are very serious about what we do and whom we do it for and only work with a certain segment of the market.
"My team specializes in the high net worth arena, as that is where I have always felt I could make the biggest impact. We have never tried to be all things to all people," says Cory.
With a background in economics and psychology, Cory describes himself as ‘passionate ‘and ’driven‘ the same attributes demonstraded by his elite clientelle. Only a handful of financial advisors understand and empathize with the stresses faced by elite entrepreneurs and business owners. “I too own successful businesses, and have the same concerns and needs as my clients. Everything begins and ends with the client and each client’s needs are unique. We discuss the client’s end goal, and work backwards to ensure thatcomes to fruition. The work we do is significant and vital as it impacts many generations,” Cory says.
Cory sees everything as a game with rules. For example in the game of golf the goal is to get the ball in the hole, with as few shots as possible, using the least amount of energy. In the world of finance, there are also rules which many may be unaware. When we make a mistake in golf we are penalized. A mistake in finance can cost you millions of dollars (in some cases hundreds of millions).
Failure to understand the implications of tax legislation and to implement effective strategies to preserve and protect wealth, can potentially cost a client millions of dollars. Budovitch Legacy Planning works with Accountants and Tax Lawyers to understand the Tax Act and its implications on preserving, building and transitioning wealth.
The majority of government endorsed financial products (like RRSPs and RESPs) provide some form of tax relief, but its minimal and is not designed to assist the high net worth. Budovitch Legacy Planning creates structures that work to fill the void that currently exist for that sector of the population. “I have always enjoyed the challenge of finding new solutions for old problems. From what I can tell, no one else does exactly we do." Cory says.
“We take clients through our proprietary financial process, and show them more efficient solutions for their long-term needs. Then, we help them implement those solutions.We use a consultative, holistic approach to look at everything and seamlessly integrate those solutions in unison with our client’s own trust advisers.
Many Accountants, Tax Lawyers and even other financial advisers, utilize Budovitch Legacy Planning to work with them to create solutions for their clients,” he adds. In addition to having a Chartered Accountant as part of his team, Cory also has long standing and proven, working relationships with some of the best and brightest Accountants, Tax Lawyers and subject matter experts in the country.
In addition to his proprietary process and intellectual property, Cory says that his success was achieved by always focusing on his client’s goals, needs and wants. To Cory, success means helping his clients achieve their goals - as a result of his client focus and dedication, Cory has subsequently created a successful business.
“Like any business owner, Cory has worked hard for his success. He believes his resolute focus on what he affectionately calls the four C’s - clarity, commitment, certainty and control - coupled with his strong work ethic, and dedication to his goals, have all contributed to his success.
In terms of industry awards and achievements, Cory is a Top of the Table member of the exclusive Million Dollar Round-table (MDRT), an international, independent association. Membership is restricted to the top point one percent of life insurance and financial services professional knowledge, strict ethical conduct and outstanding client service.
Cory is also a member of The Conference for Advanced Life Underwriting. CALU is a national professional membership association of established financial advisers (life insurance, wealth management and employee benefits), accounting, tax, legal and actuarial professionals. For more than 25 years CALU has engaged in political advocacy and government relations activities relating to advanced financial planning issues including the range of advisory and marketing activities relating to estate planning, corporate-owned life insurance, wealth creation and management, employee benefits and retirement planning.
Budovitch’s commitment to life-long learning also extends to working with several personal business coaches to define his goals and to do whatever it takes to be the best adviser for his clients. When he takes a break from work Cory unwinds by spending time with family and friends. He also believes in giving back to the community and is a proud supporter of breast cancer research,has helped to raise funds for Sick Kids and Mount Sinai Hospital and is involved with the children’s charity Chai Lifeline.
In conclusion Budovitch says, “I worked tirelessly to create and define my client base. I attribute my success to my strong work ethic, dedication to my goals, having the right people on my team and to my loyal and trusting clients. My relationships have allowed me to build the firm I have today. I am humbled and proud to call some of the most outstanding, and creative individuals my clients and my friends,” Cory Budovitch says.
Suzen Fromstein is the author of Suits and Ladders, Ten Proven Ways to Keep Your Job Safe - with a few jokes thrown in. Suits and Ladders was an Amazon Best Selling Book in the Career Guides Category
1700 Langstaff #1001,
Concord, ON L4K 3S3