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INVESTING
***An athlete’s professional sports career is nurtured by the right training, experienced instruction and appropriate consultation. An athlete’s ‘after-sports’ career should be no different. In an effort to expand on our services to, to ensure our players are aware and are able to take advantage of ALL options available to them, we have added a wealth management consultation component. SIM GRATTON & ASSOCIATES have combined forces with PINNACLE PRIVATE WEALTH MANAGEMENT to provide our clients with this much needed guidance. As a result of this accord, our client’s are allowed access to Pinnacle’s wealth managers without incurring any additional costs or fees. ***
Pinnacle Private Wealth Management
Pinnacle Private Wealth Management is an independently owned and operated wealth management company specializing in offshore investment for ‘expatriates’. Because of our autonomy, our unbiased access to every corner of the offshore market, we can assure our clients are being presented with the best performing, most cost-effective options the offshore market has to offer. As a company we only deal with the highest rated companies and banks to offer these investment solutions, companies such as Generali International, Royal Skandia, Zurich, Royal Bank of Canada, CitiBank, Nomura Bank, and Morgan Stanley, to name but a few. We have built our reputation on, not simply advising, but managing our clients’ wealth; ensuring everything from funds for Retirement, children’s education and a client’s savings have been properly considered.
Andrew Heath, CEO, has been working in the investment industry for more than 15 years and has been managing his international clientele, and their offshore investments for the past 7 years. His experience in the industry and commitment to client service has been pivotal to creating a successful and reputable investment brokerage.
Terence Martin enjoyed a successful professional volleyball career for 13 years, competing for 10 years with the Canadian National Volleyball Team and playing for professional Clubs in France, Italy, Puerto Rico, Russia, Poland and Cyprus. As a Canadian non-resident for tax purposes for most of his career, he is well versed in the advantages (and disadvantages) of living and investing as an expatriate. A recently qualified Investment Advisor, specializing in offshore investment, he has become impassioned to introduce the international sports community to the indispensable advantages of offshore investing. What is Offshore Investment?Offshore investment is the storing and investing of one’s money in a jurisdiction other than one's country of residence. Offshore jurisdictions are a commonly accepted solution to reducing tax burdens levied in most countries to both large and small scale investors alike. These offshore centres allow legitimate investors to take advantage of higher rates of return and tax-free rates of growth. The advantage to offshore investment is that such operations are both legal and less costly than the solutions offered in the investor's country - or "onshore". Motivations for investing offshore include: · Tax efficiency - Tax is the driving force behind most offshore activity. Due to offshore solutions, investors are able to conduct investment activities in a more profitable fashion. Often, taxes levied by an investor's home country are critical to the profitability of any given investment. Using offshore domiciled special purpose vehicles an investor may reduce this burden, allowing the investor to achieve greater profitability overall. Many countries (known as tax havens) offer tax incentives to foreign investors. The favorable tax rates in an offshore country are designed to promote a healthy investment environment that attracts outside wealth. For a tiny country with very few resources and a small population, attracting investors can dramatically increase economic activity. Simply put, offshore investment occurs when offshore investors form a corporation in a foreign country. The corporation acts as a shell for the investors' accounts, shielding them from the higher tax burden that would be incurred in their home country. Because the corporation does not engage in local operations, little or no tax is imposed on the offshore corporation.
· Lower levels of regulation - Another reason why offshore investment is considered superior to onshore investment is because it is less regulated, and the behaviour of the offshore investment provider, whether he/she be a banker, portfolio or fund manager, trustee or stock-broker, can act more freely than he/she could be in a more regulated environment. This results in a broader range of investment option for the investor.
· Asset protection - Offshore centers are popular locations for restructuring ownership of assets. Through trusts, foundations or through an existing corporation individual wealth ownership can be transferred from people to other legal entities. Many individuals who are concerned about lawsuits, or lenders foreclosing on outstanding debts elect to transfer a portion of their assets from their personal estates to an entity that holds it outside of their home country. By making these on-paper ownership transfers, individuals are no longer susceptible to seizure or other domestic troubles.
· Privacy - Confidential financial information helps the individual manage taxes on capital gains, income, and inheritance. Many offshore jurisdictions offer the complimentary benefit of secrecy legislation. These countries have enacted laws establishing strict corporate and banking confidentiality. Because nations are not required to accept the laws of a foreign government, offshore jurisdictions are, in most cases, immune to the laws that may apply where the investor resides. As an example, Canadian and American courts can assert jurisdiction over any assets that are located within Canadian/American borders.
***Since we’ve seen the benefit, we are suggesting all of our professional athlete clients, playing in a foreign country, to contact one of the Pinnacle private wealth managers. For a no-obligation consultation, Please Email investing@simgratton.com |
