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Business & Ag Wealth

Synergy Wealth and Business and Ag Financial Centre teams integrate seamlessly with your business and operations. While you focus on your dreams and goals, our team of experts stands ready to assist. From cash management to designing employee benefit programs, we’re here to support you and retain your top talent.

Comprehensive business support services include:

Cash Management

Managing cash flow is a critical and ongoing challenge for most businesses. For startups, it often takes time to strike the right balance between cash inflow and outflow. Various factors can impact your business’s cash flow, including but not limited to:

  • Seasonal fluctuations
  • The time gap between receiving an order and payment
  • Your main clients’ payment patterns

At Synergy, we assist business owners daily with cash flow management by:

  • Offering adequate operating lines of credit
  • Sharing best practices for cash management
  • Monitoring warning signs related to your business
Business Overhead Expense Coverage
As a business owner, your ability to work is crucial. If illness or disability prevents you or a co-owner from generating income, Business Overhead Expense coverage can alleviate financial stress and cover ongoing expenses. This coverage includes:

  • Fixed business costs, such as employee salaries
  • Fixed expenses like rent, property taxes, and utilities
Key Person Coverage
Every business has key individuals whose contributions are vital to operations. In a small business, losing a key person can have serious repercussions. Key Person coverage can help your business stay operational and protect your bottom line during such a loss. Key Person policy covers costs associated with:

  • Hire or train an appropriate recruit
  • Protect profits by offsetting lost income from lost sales or losses​ due to a delay or cancellation of a project involving a key person

Employee Benefit Program
Benefit plans are an excellent incentive for hiring and retaining top-notch staff. We can tailor a comprehensive employee benefits package that safeguards your employees and their families. Plus, it’s tax-deductible, so taking care of your team also benefits your business. Our employee benefits programs can include:

  • Life and disability coverage
  • Health, dental and vision coverage
  • Group savings plans
Buy-Sell Funding
Unexpected events can destabilize your company. What if a co-owner passes away, becomes disabled, or decides to leave the business? That’s where Buy-Sell Funding comes in. It offers:

  • Protection for You and Your Family: Buy-Sell Agreements shield all owners and their families from financial loss due to unforeseen circumstances.
  • Fair Treatment for Remaining Shareholders: A Buy-Sell Agreement ensures a fair ownership transfer process when a triggering event occurs, such as an owner’s departure.
  • Safeguarded Family Interests: A Buy-Sell Agreement prioritizes family members’ interests, ensuring a smooth transition without complications.
Business Succession Planning
Selling or transitioning your farm or small business is a complex and often emotional process. We can help make it as seamless as possible. Working with you and your team of professionals, we can create a succession roadmap that protects your legacy and prepares you for the next phase of your life. We can assist you in:

  • Establish goals and expectations
  • Determine a timeline
  • Protect your assets and mitigate taxes
  • Implement the plan

Related Resources:

Canola field during a rain storm
How to manage and increase your cash flow
Having a positive cash flow simply means having more money coming in than going out.
Gravel road on a cloudy day
Does your business fit into your retirement plans?
Many business owners face the possibility that the sale of their business may not generate a large enough nest egg for a secure, comfortable retirement.
Group of people smiling at work
Attracting key people
Attracting key people is important to the success and health of your business. You will need a plan whether you are looking to hire or retain key employees.
Three key advisors are important to the success of your business:
It is very important all three of your advisors know each other and discuss your plans to ensure they are all working towards the common goal: helping your business to succeed.
Man and female shaking hands for a business deal
4 situations where a buy/ sell agreement is useful
We understand that running a business or ag operation takes a lot of time and energy – but, on the other hand, it can also be very rewarding.
Business & Ag Financial Experts

Synergy business and agriculture experts live and work in your community, so they understand the challenges you face in growing your operations and know-how to tailor innovative borrowing solutions to your unique needs.

Synergy Credit Union Collabria Platinum Business Mastercard®
Elite privileges for your business.
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