In this episode of the Ask Canada Immigration Lawyer Evelyn Ackah podcast, Evelyn speaks with Obed Maurice and Simon Wong of Maxim Advisory Group about financial planning, wealth management and what it really takes to build lasting financial security.

Evelyn, Obed and Simon talk about why a strong income does not always mean someone is building real wealth. They discuss the importance of looking at the full picture, including taxes, investments, insurance, retirement, estate planning and the future of a business, rather than making each decision separately.

The conversation also goes beyond the numbers. They talk about what retirement can look like emotionally and personally, why business owners need to build wealth outside of their companies and how families can prepare the next generation for an inheritance through honest conversations and financial education.

Whether you are a business owner, entrepreneur, professional or someone thinking more seriously about your financial future, this episode offers practical insight into planning with more purpose. Having the right people around you and a clear long-term strategy can make it easier to protect what you have built and make confident decisions about what comes next.

Links to Find Obed Maurice and Simon Wong:
LinkedIn: Simon Wong | Obed Maurice
Website: https://maximadvisorygroup.com

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Here are the key points from Evelyn Ackah’s podcast with Obed Maurice and Simon Wong:

How Obed and Simon Entered Financial Planning

  • Obed and Simon share how their careers developed through accounting, tax and financial advisory work.
  • They explain that clients often need more than help with one tax issue or financial product.
  • Their work focuses on helping clients understand the full picture and make decisions that support their long-term goals.

Building a Financial Master Plan

  • The conversation explores how Maxim Advisory Group creates a clear financial plan for each client.
  • The plan can include taxes, investments, insurance, retirement, estate planning and business succession.
  • Obed and Simon explain that clients also need practical steps to put the plan into action.

A High Income Does Not Always Create Wealth

  • Evelyn, Obed and Simon discuss why people with strong incomes can still feel financially insecure.
  • Earning more money does not automatically lead to savings, investments or long-term wealth.
  • Building wealth requires learning how to earn, keep, protect and transfer money over time.

Why Financial Decisions Are Connected

  • Tax, retirement, investment, insurance and estate decisions should not be made separately.
  • A decision in one area can affect several other parts of a person’s financial life.
  • The episode highlights the importance of having accountants, lawyers and financial professionals working together.

Building Wealth Inside and Outside a Business

  • Business owners often receive strong returns by reinvesting in their companies.
  • However, relying on one business for an entire financial future can create risk.
  • Obed and Simon discuss the importance of building personal and corporate assets outside the operating business.

Preparing a Business for the Future

  • Business owners should think about succession before they are ready to sell or step away.
  • Strong systems, delegation and the right team can help a company operate without relying entirely on the founder.
  • Planning early can make a future transition smoother and may increase the value of the business.

Insurance and Risk Management

  • Insurance is discussed as an important part of protecting a family, business and financial plan.
  • Some events may be unlikely, but the financial consequences can be serious.
  • Managing risk can be just as important as increasing returns or reducing taxes.

Rethinking Retirement Planning

  • Many people begin by asking how much money they need to retire.
  • Obed and Simon explain that the better question is how someone wants to live during retirement.
  • Spending, inflation, investment returns, longevity and lifestyle all affect the amount needed.

The Personal Side of Retirement

  • Being financially ready does not always mean someone is emotionally ready to retire.
  • Evelyn, Obed and Simon discuss identity, routine, relationships and purpose after full-time work.
  • Mentoring, teaching, working part-time or staying involved in the community can help create a more meaningful retirement.

Preparing the Next Generation for Wealth

  • Successful wealth transfer involves more than leaving behind money or property.
  • Families should discuss expectations, responsibility and financial values before an inheritance is received.
  • Financial education and open communication can help the next generation manage wealth more responsibly.

Choosing the Right Financial Adviser

  • The episode explains what clients can expect when they first meet with a financial adviser.
  • The process begins with understanding the client’s goals, concerns and current financial situation.
  • Obed and Simon emphasize the importance of finding the right mutual fit instead of using the same approach for everyone.

Final Takeaway

  • Financial planning is not only about investments, taxes or reaching a specific number.
  • It is about understanding what matters, bringing the right professionals together and making thoughtful decisions over time.
  • A clear plan can help business owners, professionals and families protect what they have built and prepare for what comes next.

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About Calgary Immigration Lawyer Evelyn Ackah

Evelyn Ackah is the Founder and Managing Lawyer at Ackah Business Immigration Law. With offices in Calgary, Toronto and Vancouver, we work with individuals and business owners from all over the world who want to cross borders seamlessly. For more information on immigration to Canada or the United States, reach out to Evelyn at Ackah Business Immigration Law today by calling  (403) 452-9515 or emailing Evelyn directly at contact@ackahlaw.com.

The Ask Canada Immigration Lawyer Evelyn Ackah podcast, hosted by Calgary Immigration Lawyer Evelyn Ackah, was named as one of the Top 60 Podcasts on Immigration on the web by Feedspot.