He Lost Everything in 2008 Then Learned How Canada's Wealthiest Build Wealth - E019 NOW LIVE 💯

New Beyond the Bottom Line just dropped with

, co-founder of Safe Pacific Financial in Vancouver.

What I liked about this conversation is Laurent's origin story. Before becoming one of the top 30 advisors in Western Canada and an MDRT member, he was a tech entrepreneur.

He built 4 companies (some of you might remember Clubbed.com and Clubzone.com from the 2000s) and got wiped out in 2008 despite doing everything his financial advisor told him to do.

That experience pushed him to go research what the wealthiest Canadian families actually do differently. That research became the foundation of his practice and his new book, Wealth Multiplier.

The core concept of this episode is what Laurent calls the 4 functions of wealth: keep, grow, use, transfer. Most business owners get told to focus on the first two.

The real money is in how you use and transfer it, and that's where this conversation goes.

A few stories that are worth the watch alone:

A client who set up an IFA in 2018 because he thought the market was overheated. When COVID hit, he pulled $1M from the policy line of credit and bought Canadian bank stocks at the bottom. Doubled his money in a year, sold half to pay off the loan, and now owns a $1M dividend-paying portfolio "for free" that throws off ~$50K/year in dividends forever
A commodities broker his bank wouldn't lend to because of the risk profile of his business. After collateralizing his life insurance policy at the same bank, he got the loan immediately
A Mortgage Investment Corporation owner who got a better personal rate on his policy loan than his own company gets on its $100M+ corporate line of credit

If you're a Canadian advisor, this one's especially useful because Laurent breaks down the passive income rules and small business deduction math in plain English. Worth sending to prospects before discovery calls.

Laurent, thanks for coming on and being this open with the war stories. Appreciate you.

https://youtu.be/Gvw-Fq2QKTM

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He Lost Everything in 2008 Then Learned How Canada's Wealthiest Build Wealth - E019 NOW LIVE 💯