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As a business owner, I need advice to coordinate personal and business finances

If you own a business or are self-employed, you face a unique set of financial concerns. We have specialized solutions that can help.

Business owners and the self-employed often have financial needs that are more complex than those of salaried professionals. Your BMO Nesbitt Burns Investment Advisor will work with you to understand both your personal and business finances and provide solutions that work for both areas of your life. You’ll also have access to a full range of BMO Nesbitt Burns investment products and services that can meet those needs. If you don’t have time to personally manage your portfolio, your Investment Advisor can propose solutions that allow experts to direct or manage investments for you.

Your BMO Nesbitt Burns Investment Advisor can also help with the following:

Retirement savings

You may require retirement planning alternatives to a traditional RRSP. If you’re self-employed, your earned income for tax purposes may not always be high enough to maximize RRSP contributions. Your Investment Advisor can explore other solutions such as Individual Pension Plans and insurance options to optimize your retirement income strategy.


Business owners have different tax requirements than salaried professionals. Your personal finances and taxes may be closely linked to those of your business. This can require a custom approach to tax planning.


Proper insurance coverage can help protect your business if you die prematurely. With the potential for immediate loss of income if you are unable to work, disability insurance and other insurance coverage is critical.

Estate planning

Business owners have unique estate planning and succession needs, particularly if the business will be passed along to the next generation or sold.

If you’re a business owner or are self-employed and want to explore your unique financial needs, contact a BMO Nesbitt Burns Investment Advisor at a branch near you. Or, to have an Investment Advisor contact you, fill out this form.

Advice in action: Roberto

Roberto started a renewable-energy business two years ago when he turned 40. While the business is in its early stages, Roberto is working long hours and drawing only a small salary. He plans to pay himself more as the business grows, and he wants to eventually find investors and take the company public.

Roberto is confident his business will someday provide a steady, secure income and even become large enough to provide an inheritance for his two children from his previous marriage. Roberto wants to make sure that as his salary from the business increases, he’ll be able to invest wisely and build his personal wealth — including retirement savings. He also wants to safeguard his personal savings and investments from potential business creditors, and make sure he doesn’t neglect his own financial future for that of his business.

A BMO Nesbitt Burns Investment Advisor can help Roberto develop a personal financial plan that will increase his income to provide investment capital and allow larger RRSP contributions. Based on projections for increased personal income, an Investment Advisor can also recommend investments that will help Roberto build a solid future for himself and his children, separate from the business. An Investment Advisor can help Roberto with other elements of a well-rounded financial plan, including insurance through an Estate & Insurance Advisor and business succession planning. Because Roberto’s free time is limited, his Investment Advisor can recommend investment solutions that won’t require a great deal of personal input.

Find an Investment Advisor Have an Investment Advisor contact me Contact us: 1-800-334-7534