On Tuesday, April 9, 2024, lawyer Elyssa Lockhart will co-host the inaugural Canadian celebration of Global Holistic Wealth Day in Vancouver, sponsored by MLT Aikins. Also co-hosting will be adviser Paige Brettle with Doyle & Associates Private Wealth Management.
The event will feature a special virtual address by bestselling author and founder of the Holistic Wealth movement, Keisha Blair.
Financial wellness
Global Holistic Wealth Day is a day to reflect, connect with others and explore a holistic view of how wealth and our views on it impact our lives and our well-being. Holistic Wealth is a concept of financial wellness that includes the mental, emotional and physical wellness of a person – and how our relationship with money can be transformed into one with purpose and meaning. Holistic Wealth takes a multi-faceted view of financial decision-making, in order to have impact beyond our net worth – in essence, using a whole health approach to make financial decisions that support more than merely our financial needs.
Improving financial wellness includes not only improving financial literacy and alleviating financial stress, but also considering the emotional aspects of wealth. This includes healing money trauma, building emotional resiliency around finances and prioritizing overall personal well-being when making personal decisions that intersect with our finances. Beyond the usual focus on acquiring and preserving wealth, a comprehensive approach integrates these aspects with an individual’s broader life goals. Even for those who are already wealthy, this can be tremendously impactful.
“The process of transferring wealth from you to your children, for instance, is not accomplished in one single step, but can be carried out through comprehensive transition over many years, often in a manner that allows our children to begin developing their own wealth,” said Elyssa.
“Holistic Wealth is a concept that can anchor our ideas around money and other assets, and the choices we make for ourselves and our loved ones so we are reducing stress and creating resiliency along the way.”
Wealth preservation process
Given that a significant portion of Canadians lack essential documents like wills, and few owner-operators have a well laid out succession plan, legal advisers such as MLT Aikins can play a crucial role in the wealth preservation process and assist in supporting a holistic view of an individual’s financial wellness.
Elyssa Lockhart has more than 20 years of experience advising clients on their personal and business succession plans. She has wide-ranging experience advising clients on wealth preservation strategies. She regularly drafts wills, trusts and other documents related to asset transition, and assists clients with all aspects of the estate administration process. Elyssa also advises family business owner-operators on succession planning and business transitions, as well as business structuring, the acquisition and sale of corporate assets, and the windup and dissolution of businesses.
