Why Cardinal Point Joined Forces with Gavin Hockey Wealth Specialists: Navigating Cross-Border Tax Challenges for Athletes – Featuring Jeff Sheldon, CEO, in the Globe and Mail
Athletes who reside in Canada and work in the U.S., or vice versa, face numerous cross-border tax challenges. Addressing these complexities is crucial for professional and retired hockey players. To better serve this unique client base, Cardinal Point Wealth Management, with offices in both Canada and the U.S., acquired Gavin Hockey Wealth Specialists based in Toronto.
This acquisition has led to the formation of Cardinal Point Athlete Advisors, a specialized division aimed at providing tailored financial planning and tax management for athletes. The Globe And Mail recently spoke with Jeff Sheldon, Cardinal Point’s chief executive officer, about the acquisition and the complexities involved in cross-border financial planning for athletes.
Sheldon highlighted the need for specialized knowledge to navigate the dual tax jurisdictions effectively. By joining forces with Gavin Hockey Wealth Specialists, Cardinal Point aims to leverage its experience in handling the unique financial needs of hockey players. This collaboration will enhance the firm’s ability to offer comprehensive financial solutions that cater specifically to the athletic community.
The complexity of managing finances for athletes in cross-border situations requires a deep understanding of both U.S. and Canadian tax laws. The new division, Cardinal Point Athlete Advisors, will ensure clients receive the most effective strategies to optimize their financial health during their careers and retirement.
For more details on this acquisition and the challenges of cross-border financial planning for Athletes, read the full article in the Globe and Mail.
Jeff Sheldon
CEO of Cardinal Point