Nicola Wealth Management Introduces a New Infographic: 10 Mistakes Small Business Owners Can Avoid

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2012) - In honour of Small Business Month, Nicola Wealth Management, a midsize investment and asset management firm serving the needs of high net worth business owners across Canada, has created an infographic geared to small business owners who want to be smarter about their personal and business finances entitled, "Top 10 investing mistakes business owners can avoid".

"Incorporated individuals are in a unique position when it comes to financial planning," explained Nicola Wealth Management's President David Sung. "They can employ some innovative income solutions that are unavailable to non-business owners. Tax savings in ideal scenarios for high net worth individuals can be very significant and efficient. It's our job to ensure that we maximize those advantages for our clients."

The infographic acts as a brief checklist of some of the most important items an owner should consider, including tax reduction strategies, financial structures such as donor advised accounts and trusts, succession planning, and risk protection.

The infographic includes the following statistics:

• 1 in 4 owners are considering exiting their businesses within the next 5 years.

• 77% of those owners do not have a succession plan in place.

• Only 33% of business owners in Canada have disability coverage.

• Less than 5% of business owners have financial advisors that report detailed results.

Nicola Wealth Management has developed a reputation in Canada for helping business owners navigate their personal and business investments and has received national media attention for its innovative investment and financial planning approaches, which incorporate broad diversification, dividend investing, and other income-producing investment strategies to deliver less volatile returns.

About Nicola Wealth Management

Established in 1994, Nicola Wealth Management (www.nicolawealth.com) is one of Canada's leading financial planning firms with $1.8-billion in assets under management. The firm provides wealth accumulation, retirement and legacy planning services and expertise to high net worth individuals across Canada.