How a wealth plan helped one woman entrepreneur prioritize and realize her life goals

Knowing that women's needs and commitments often differ from men's, Lisa Applegath took a personalized approach when she met with entrepreneur Dr. Rumeet Billan.

“Life is dynamic, and we help manage your life," says Applegath, a senior wealth advisor and portfolio manager with CIBC Wood Gundy and Private Wealth at the Applegath Group Opens in a new window..

Dr. Billan discovered that working with a trusted wealth advisor means implementing a customized plan for her specific financial journey, which included selling a business, acquiring another business, and buying a new home — all while managing the home front. Applegath guides clients like Dr. Billan through meaningful conversations about dreams and priorities.

“It wasn't all about the numbers," recalls Dr. Billan. “Lisa and her team approached my finances much differently than I thought they would. They were more interested in what I valued and what was important to me."

“Lisa asked me: 'Do you have a will? Are your powers of attorney in place? As an entrepreneur, do you have critical illness insurance and disability insurance? How do you manage your cash flow?' She tackled things you just don't think about, but they're connected to your financial plan. I didn't have these items checked off my list, but I do now."

After three decades as a financial advisor, Applegath knows women view wealth planning and investment as more than just dollars and cents.

“Women see money as a means to effect positive change: how can I positively impact my family, my community, society?" Applegath explains.

Applegath worked with Dr. Billan to create an overall vision for how and where her money should go using a tool called the Life Wheel^TM Opens in a new window.. It features 12 spokes, each touching upon one aspect of a person's financial journey, including aspirational and financial legacy goals.

The first four spokes affect how you meet current and future lifestyle goals. For Dr. Billan, family comes first, so setting up her legal documents and insurance established future security. Then, she focused on creating a network of support for other women, which she achieved by acquiring Women of Influence+ Opens in a new window.. It’s an online platform that provides connections, support, training and tools so women can carve new pathways and excel in their careers.

“Lisa and her team have become a huge sounding board, giving me advice that's best for me and my situation," says Dr. Billan. “I know I'm taken care of. It's priceless."