The Unlimited Podcast by Ginsler Wealth Ginsler Wealth

Small-capitalization ("small-cap") equity investing requires a specialized investment and trading skillset. Since its inception in 2018, Bedford Park Capital has proven its proficiency in this area. Bedford's President & CEO Jordan Zinberg joins Brian to explain what small-cap equities are, what it takes to be a successful small-cap investor, and why some of the risks of small-cap investing may actually be opportunities in disguise.

Jordan Zinberg is the President and CEO of Bedford Park Capital Corporation. Jordan has over 20 years of investment industry experience, including portfolio management and trading, and has served as a director of both private and public companies.  Before founding Bedford Park Capital, Jordan was a Managing Director and Portfolio Manager at a prominent Toronto-based investment management firm.  Prior to that role, Jordan spent 7 years at one of Canada’s largest investment dealers.  He holds an MBA from the Schulich School of Business as well as several industry licenses and certifications. He also holds the Chartered Investment Manager designation and is a fellow of the Canadian Securities Institute.



Timestamps

0:00 Disclaimer & Intro

4:11 Jordan's journey to founding Bedford Park

7:57 What are "small-cap" equities?

12:19 What makes small-cap equities attractive?

16:02 Finding companies that meet Bedford's criteria

19:02 Difficulties purchasing small-cap equities

21:59 Positives & negatives of small-cap equities

26:59 How Bedford found one of their best holdings

33:03 Jordan's outlook on the economy and stock market

35:48 Behind the scenes at BNN

38:42 If Jordan could do anything, what would it be?

39:57 Outro

On Tuesday, April 16, the government of Canada revealed its 2024 Federal Budget with major changes that impact investors, savers and business builders - most significant of which being an increase to the capital gains inclusion rate.

In this "breaking news" episode of The Unlimited Podcast, we bring back the "Tax Ninja", Alexandra (Ali) Spinner, to help break down the key changes and provide some guidance for immediate and long-term actions and plans. Ali can also be seen discussing the Federal Budget changes on BNN Bloomberg.

Key changes covered include:


The increase to the capital gains inclusion rate
The increase to the Lifetime Capital Gains Exemption
The introduction of the Canadian Entrepreneurs Incentive
Changes to the Alternative Minimum Tax (AMT)

Ali is a Partner in Crowe Soberman’s Tax Group, a member of the firm’s Management Committee, and leader of the High-Net-Worth tax practice. Ali has more than 20 years of experience in public accounting and tax and estate planning. Her practice focuses on helping wealthy families and high-performance professionals structure their affairs in a tax-efficient manner. Ali’s broad technical expertise includes domestic, cross-border, and international tax matters for individuals, trusts, estates, and corporations. She is experienced in complex estate and trust planning, post-mortem planning, corporate reorganizations, and the preparation of Canadian tax returns and compliance forms. In 2022, she was elected as a Fellow of the Chartered Professional Accountants of Ontario.



Timestamps

0:00 Disclaimer & Intro

2:15 Highlights of the budget changes

13:00 Why change capital gains tax rates?

20:54 Impacts on the general public

29:44 Who will feel the largest impact?

34:01 Canadian departure tax

36:11 Exemptions, incentives, and philanthropy

42:21 Outro

43:33 Ginsler Wealth's full theme song

You may have heard the joke about two economists walking down the street and seeing a $20 bill lying on the sidewalk. The first economist says, "Look at that $20 bill." The second says, "That can't really be a $20 bill lying there, because if it were, someone would have picked it up already." So they walk on, leaving the $20 bill undisturbed.

The notion above is that there can’t be “free money” lying around in plain sight. The markets are efficient and opportunities like the above cannot exist.

Brian Ginsler begs to differ...

For the original transcript of this letter and to see weblinks and other media, please visit https://ginslerwealth.com/ginsler-wealth-first-quarter-2024-client-letter-free-money-edition/

As a follow-up to Episode 33: Insurance 101 with Simon Kay, this episode features Zak Goldman and Jonah Mayles from Sterling Park providing an "Insurance 201" lesson for our listeners, with a focus on the tax and wealth creation advantages of whole life insurance.

Whole life insurance is a permanent insurance policy that grows in value over time by participating in distributions from the insurance company’s pool of investments. This type of policy offers a significant opportunity to boost wealth and estate value, for two key reasons:


The policy's value grows tax-free and is typically distributed tax-free[i] upon death, and
When held within a corporation, the proceeds can be paid to your estate on a tax-free basis[ii] without being subject to additional taxes like most other corporate assets.

For someone with a corporation, the additional after-tax value of dollars invested in a whole life insurance policy can be potentially double what could be achieved without the use of insurance.[iii]

Brian and the "Dynamic Duo" of Zak and Jonah explain whole life insurance and how it works, compare the after-tax result of using insurance vs. not, and provide insight into how to know if an insurance policy is right for you.

Zak is a founding partner of Sterling Park. He has advised affluent clients and business owners for over 20 years. He holds the Family Enterprise Advisor™ (FEA) designation and an MBA from the Rotman School of Business at the University of Toronto.

Jonah is a partner at Sterling Park and is the tax, legal and estate planning guru in the firm. Before joining Sterling Park, Jonah was a tax lawyer at Fraser Milner Casgrain and Torkin Manes where his practice focused on business succession planning, estate planning, advising on and drafting family trusts and structuring/implementing tax-efficient sales and purchases of businesses.



If you like what you hear, please don’t hesitate to rate us kindly. And if there are particular topics you’d like covered, please let us know.




This episode is brought to you by Ginsler Wealth Financial Services Inc., a FSRAO licensed insurance agent corporation. Nothing in this podcast should be deemed to be insurance or financial advice, and is for informational purposes only.



[i] The tax-free nature of whole life insurance may not be absolute under certain circumstances, including in shorter duration insurance policies. This letter is meant only to provide a high-level overview of the benefits of whole life insurance and is not comprehensive. Please speak with Ginsler Wealth Financial Services Inc., a FSRA licensed insurance agency, or your own insurance advisors for more specific details.

[ii] Ibid.

[iii] The precise outcome of utilizing these types of insurance policies will depend on the age, gender and medical profile of the insured(s) at time of entering into the policy and the age of death of the unsured(s) amongst other factors. Talk to Ginsler Wealth Financial Services Inc. or you own insurance advisor for more precise details.





Timestamps

0:00 Disclaimer & Intro

5:00 How Zak & Jonah entered the insurance industry

10:42 Term insurance vs. whole life

12:40 Whole life insurance & how it works

22:16 Using insurance to transfer wealth

41:55 Tips for prospective insurance buyers

44:48 Simplifying insurance buying

51:31 If Zak & Jonah could do anything, what would it be?

53:18 Outro & Disclaimer

The automotive industry is undergoing a transformation with the rise of electric vehicles and the introduction of new technologies and new ways of interacting with car buyers--all while operating in a challenging economic environment. Luxury auto dealers are at the forefront of many of these changes. On this episode of The Unlimited Podcast, Brian speaks with Francesco Policaro, CEO of Policaro Group, a luxury auto retailer in the GTA and southern Ontario.

Brian and Francesco discuss automotive industry trends, what a prospective car buyer should know, managing a multi-generational family business, the current state of the economy, and more!

Founded in 1979 by Francesco's father and two uncles, Policaro Group has emerged as a prominent automotive retail group in the GTA and Southern Ontario. Currently, their expansive group encompasses Acura, BMW, Jaguar, Land Rover, Lexus, Porsche, and Volvo. Policaro Group is involved of many aspects of the automotive experience, ranging from helping customers purchase their first car, sourcing exotic super sports cars, and supporting professional racing, all with an incredible focus on the customer experience.

If you like what you hear, please don’t hesitate to rate us kindly. And if there are particular topics you’d like covered, please let us know.



Timestamps:

0:00 Disclaimer & Intro

4:21 Policaro Group's history

8:22 Sourcing luxury cars

15:00 Making the customer experience exceptional

20:16 Technology evolving the automotive industry

27:41 Improving the typical "car buying" experience

36:51 Francesco's favourite cars & super sports division

40:51 Managing a multi-generation family business

44:42 Francesco's economic outlook

48:08 If Francesco could do anything, what would it be?

50:18 Outro

An Unlimited Podcast twist! This episode is a podcast within a podcast...

This episode sees the tables turned on our host, Ginsler Wealth CEO, Brian Ginsler, as he switches from interviewer to interviewee. Brian is interviewed as part of The Real Human Project by Sam, an AI interviewer, with the goal of helping people share their stories and reveal the "real human" behind each interviewee.

The Real Human Project is on a mission to help people get to know each other better. Through AI-hosted podcast interviews, everyone has an opportunity to make an episode about what makes them who they are. These episodes can then be shared with anyone the participant would like to share their story with. Once an episode has been shared, listeners are encouraged to respond with their feelings about the episode.

The Real Human Project has extended a special offer to all listeners of the Unlimited Podcast: for $50 USD off your very own episode, enter code "Unlimited" at checkout.

To learn more about The Real Human Project, or to get your own episode, visit realhuman.io.



If you like what you hear, please don’t hesitate to rate us kindly. And if there are particular topics you’d like covered, please let us know.