Posted under: News
December 17th, 2024
As 2024 comes to a close, the team at GBL would like to thank you all for an outstanding year; one which would not have been possible without your trust and support. We hope that those reading enjoyed a successful 2024, despite the challenges that it presented for many.
2024 was a year of continued volatility for business owners and incorporated professionals due to a high inflationary environment, legislative, and cross-border economic risks. We have witnessed the pain that many business owners have felt this past year and are inspired by their resilience and innovation. As we bid farewell to 2024, we look forward to what is already considered to be a more optimistic 2025.
This year, GBL not only amplified our core message that there are better options during these unprecedented times for business owners and incorporated professionals to supercharge and safeguard their retirement assets while mitigating corporate tax; but we have been working on new innovative solutions to help owners and corporate clients navigate this complex environment.
Individual Pension Plans (IPP), Retirement Compensation Arrangements (RCA), and cross-border strategies remain some of the last strategies to grow the wealth of business owners and mitigate their corporate tax. Demand has increased for the Fair Market Valuation (FMV) of corporately-owned life insurance policies as well, and GBL continues to assist clients with this tax-compliance need. We have also experienced an increase in Actuarial Evidence (AE), Health Benefit Plans (HBP), FMVs of life insurance policies for charitable gifting and pension valuations for marriage breakdown calculations.
Part of our core offering has included consulting services for Defined Benefit (#DB) plans, Supplemental Executive Retirement Plans (#SERP), and Criminal Rate of Interest calculations. Our clients have experienced the advantage of working with a bespoke, highly experienced, and service-oriented team which has led to increased demand for these services in the last few years.
We continue to introduce new solutions for corporate clients, doctors, lawyers, and lenders. Stay tuned for more details as we roll new innovative strategies in 2025.
Finally, if there was anything more exciting than working with actuaries, we are excited to announce that 2025 will mark GBL’s 30th anniversary! We’ve come a long way since renowned actuary Gordon B. Lang founded GBL in 1995, and we are excited for our next 30 years. Thank you for giving us the opportunity to work with you. We wish you a Happy Holiday and a fruitful 2025.
The GBL Team
www.gblinc.ca
