Lyle Langlois is a Vancouver-based wealth management professional with a 35-year career of providing financial advice to respected Vancouver families and institutions. A Burnaby, BC native, Langlois has worked for boutique financial firms since 1986. He was recognized as an advisor in 2003, when he was a finalist for the ‘Advisor of the Year’ award. In 2004, in collaboration with James Brown, Langlois created Langlois Brown Wealth Management, maintaining the feel and approach of an independent, family-run financial firm while operating within larger institutions. Langlois continues to bring a wealth of experience, strategic insight, and unwavering dedication to every facet of his career.
Q: What would you describe as your specialty after accumulating so much experience and expertise as a wealth manager?
LYLE LANGLOIS: My focus is families. I’m focused on making sure that my clients can prioritize their families when making financial decisions. A lot of this is about wise investments, but as a holistic advisor, I also focus on retirement strategies and tax strategies. We work hard to minimize tax liabilities for our clients, allowing them to retain their hard-earned income and make their own decisions about allocating that to investments or savings. So maybe that’s my specialty – implementing effective tax strategies to help preserve wealth and achieve long-term financial goals.
Q: How important is it for individuals to maintain a substantial retirement nest egg?
LYLE LANGLOIS: Building and maintaining a robust retirement nest egg is fundamental for financial security in one’s golden years. Canadians are living longer, and ensuring a comfortable retirement requires careful planning and disciplined saving. That nest egg that you build over time provides a safety net, giving you financial stability and the chance for a sustained lifestyle post-retirement. Even small, regular contributions can accumulate significantly over time. With rising healthcare costs and potential economic uncertainties, it’s more important than ever to have a well-prepared retirement fund becomes even more critical.
Q: Do you have any advice for people who are just entering retirement?
LYLE LANGLOIS: I’m a firm believer in early collection of CPP (Canadian Pension Plan) benefits. They can provide immediate financial support for individuals in need of additional income upon reaching the age of eligibility. For those retiring early or facing health concerns, accessing these benefits can alleviate financial strain and help maintain their standard of living. We have to factor in longevity risk as a key consideration. For individuals with a family history of shorter lifespans or those facing health challenges, accessing CPP early ensures they receive the maximum benefit, considering the number of years they may receive payments.
Q: What general advice would you offer to individuals who are considering engaging the services of a wealth management professional?
LYLE LANGLOIS: I think it’s crucial to engage with qualified financial advisors or wealth managers within such complex regulatory and revenue environments. Professionals can assist in creating personalized tax-efficient strategies aligned with individual financial circumstances. Diversification of investments is also key. By spreading investments across various asset classes and utilizing tax-advantaged accounts such as RRSPs (Registered Retirement Savings Plans) and TFSAs (Tax-Free Savings Accounts), individuals can optimize tax benefits while building their retirement savings. A wealth management professional will make sure you stay informed and on top of all tax laws, deductions, and tax-saving opportunities that can significantly impact your long-term financial well-being.
Disclaimer:
This information has been prepared by Lyle Langlois who is an Investment Advisor/Portfolio Manager for iA Private Wealth Inc. Opinions expressed in this article are those of the Investment Advisor/Portfolio Manager only and do not necessarily reflect those of iA Private Wealth Inc. iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Canadian Investment Regulatory Organization.
