The Wealthy Barber, David Chilton, comes to Penticton

Photo: Contributed

If you thought you saw The Wealthy Barber earlier this week in Penticton, you weren’t seeing things.

Photo: Contributed

David Chilton, one of Canada’s most popular personal finance experts, author of The Wealthy Barber and former Dragon on CBC’s Dragons’ Den, was in the South Okanagan city as the keynote speaker during an event at Penticton Lakeside Resort. The event was well attended, with more than 200 participants.

The Penticton office of RBC Dominion Securities, Canada’s leading full-service wealth management firm, hosted the afternoon session with Chilton, who spoke about the benefits of corporate executor services offered through RBC Royal Trust and why he believes it’s a mistake nominating a family member as an executor.

“Being named an executor is an honour, but also a major, hard-to-believe-how-stressful, incredibly-time-consuming inconvenience,” Chilton told the crowd. “Settling the simplest of estates can take up to two years and involves more than 70 tasks. You also have personal liability to ensure the estate is settled properly. Appoint the professionals—the people who do this all day, every day and who do it well. Why risk the family friction?”

Someone who has seen his fair share of family friction over the decades is Brian Hughes, who founded Hughes Jackson Wealth of RBC Dominion Securities Inc. He knows all too well what Chilton spoke about, because he has seen first-hand how difficult family executorship can be since entering the financial industry in 1987.

“I couldn’t agree more with Chilton’s remarks,” Hughes says. “Over my 35-plus years working with executorship and estate issues, often leaving the grunt work to the professionals at Royal Trust is a wise option.”

Photo: Contributed

(L to R): John and Hayes Jackson, and Brian Hughes

Hughes’ vast experience is a big reason why he has teamed up with his son-in-law, John Jackson, to create a multi-generational, full-service, wealth management practice offering customized investment, financial planning, estate planning and insurance solutions. Jackson’s name was added to Hughes Jackson Wealth, providing a unique value proposition for Okanagan families that is backed by RBC, Canada’s leading financial institution.

“Whether you have established deep family roots within the Okanagan or have recently arrived in the area, our practice is designed to support you and your family for generations to come as your trusted wealth management partner,” Hughes says. “Not only can we seamlessly and tax-efficiently assist in transferring and managing your family wealth between generations, but it’s also important to us that we help guide and educate younger generations coming into wealth to avoid the many pitfalls caused from mismanagement.”

Should you wish to learn more about the corporate executor services offered by RBC Royal Trust, planned future wealth management topic focused events hosted by Hughes Jackson Wealth or more about the services it provides, please contact John Jackson at 250-770-1213 or [email protected]. Further details can also be found at www.hjwealth.ca.

More of Chilton’s thoughts on executorship can be found here as well.

This article is written by or on behalf of the sponsoring client and does not necessarily reflect the views of Castanet.