Pillar 3

Philanthropic planning and charitable giving

How would you like to be remembered?

This is a very exciting area of opportunity that many business owners haven’t given much thought, because they think that being a philanthropist is simply out of reach. But the truth is, it’s probably much more attainable than they realize – and it will save them considerable taxes!

The truth is…

In 2023, our president, Mark Bull, earned the elite MFA-P designation: Master Financial Advisor – Philanthropy. More than 30 years into his career as an advisor, Mark is candid that the MFA-P opened his eyes to the array of tax planning strategies available using charitable giving.

For example, most Canadians don’t know they can donate a life insurance policy to the charity of their choice – and that depending on how the policy is structured, there can be ongoing monthly tax benefits for the premium, or a benefit to their estate when they pass.

Put simply, there are insurance products available that help donors magnify their gifts and cut their own taxes. Mark demonstrated how straightforward it is by donating a $1-million insurance policy to Lakeridge Health Foundation in 2023 on behalf of Bull Financial.

And that was just the first step. Mark has made it the official vision statement of Bull Financial To raise $25-million in philanthropic donations by December 31, 2028, by educating and challenging our clients and partners.

Let us magnify your legacy.

As a business owner, there are many opportunities available to you for charitable giving, thanks to no fewer than 26 changes in government budgets since 1995. As just one example: you can donate stock under certain conditions and not have to pay the capital gains tax on it.

Further reading and resources

Charitable Giving: Giving back to support the causes that are important to you is more than just generous – it’s also good tax planning. The Value of Advice: History clearly shows that the longer you work with an investment advisor, the better your results will be.

Downloadable PDF

Charitable Giving


Downloadable PDF

The Value of Advice


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