Business Idea #2b

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The Wealth Coaches

TWC is one of four business brands operated by Trilogy Promotions Inc. We are a financial consulting firm devoted to empowering clients to take their futures, wealth and legacies back into their own hands where it belongs, by educating them on the ancient strategies & secrets of money known to the super-wealthy.

The Wealth Coaches teach basic money mastery skills that will help you Save, Make, Protect, Manage, and Grow money over a lifetime. In 2016, we adopted a 21st Century suite of state-of-the-art financial wealth management tools that leverage digital technology to help clients put $400 - $900 a month back in their pockets. 

As Wealth Coaches and Financial Educators, we teach people the Hidden Strategies and Investment Secrets of the Ultra-Rich. We utilize hard asset investments such as Gold, Silver, Natural Fancy Colored Diamonds, Income-Producing Real Estate, Asset Protection Trusts, Debt Reduction Strategies, Benefit Programs, Life Insurance Products, Segregated Investment Funds, and Residual Income Programs to accomplish each client's financial goals.

"Learn from History; Reap the Rewards!"

We consult to businesses and individuals alike, who want to earn more income, accumulate wealth, diversify their portfolios, and protect their assets from financial calamity. With Asset Pro, we utilize a Total Privacy and Impenetrable Asset Protection program known as the Specialized Trust Strategy that has been pioneered and perfected by the super wealthy over the last 600 years.

We coach, teach, mentor, and encourage our clients with the specific knowledge and personal development skills required to succeed. Training of the mind and spirit is a prerequisite for exceptional accomplishment in today's complex world.

We facilitate financial educational learning through seminars, in-home private business receptions, workplace 'Lunch & Learns,' webinars, videos, newsletters, and an online E-Learning platform from Teachable that we call The Wealth Coaches Academy.

The Business Opportunity - Unclaimed Financial Balances

The Wealth Coaches is seeking to partner with independent consultants (IC's) to help us research and locate the approximately 1.9 million Canadians who presently have unclaimed bank account balances and investment accounts at various financial institutions across Canada. A total of $742 million dollars is currently owed to ordinary Canadians sitting unclaimed in dormant bank accounts and terminated pension plans that people have either forgotten about, abandoned, or whom may have died, been hospitalized, or simply moved away without letting their financial institutions know how to reach them.

When a Canadian-dollar account, deposit or negotiable instrument held or issued by a federally-regulated bank or trust company has been inactive for 10 years and the owner cannot be contacted, it is considered an “unclaimed balance.”

Once a year on December 31, unclaimed balances are transferred to a custodian on behalf of the owners.

By the numbers:

  • At the end of 2017, approximately 1.9 million unclaimed balances, worth $742 million, were on the custodian's books. Over 93 per cent of unclaimed balances were valued at under $1,000, representing 26 per cent of the total value outstanding.
  • That means that the other 7% of accounts (133,000) hold a total of $549 million in unclaimed money.
  • In 2017, the custodian paid out a paltry $10 million to balance holders.
  • The oldest balance dates back to 1900.

Types of balances held:

Only the following types of unclaimed balances are held by the custodian.

Accounts

  • Current/chequing accounts
  • Savings accounts

Deposits

  • Positive credit card balances
  • Term deposits
  • Guaranteed Investment Certificates (GICs)
  • Deposit receipts

Negotiable instruments

  • Bank drafts
  • Certified cheques
  • Money orders
  • Official cheques
  • Traveller's cheques

Types of balances not held

The following types of unclaimed balances are not held by the custodian:

  • Accounts in U.S. dollars and other non-Canadian currencies
  • Registered Retirement Savings Plan (RRSP) and Registered Retirement Income Fund (RRIF) accounts
  • Life insurance policies
  • Credit union or Caisse populaire accounts
  • Unclaimed balances at utilities and other companies
  • Gold or silver certificates
  • Safety deposit boxes
  • Stocks (equity shares) and dividends — contact the province’s securities commission; e.g., the Ontario Securities Commission.

Other organizations within your province hold unclaimed property and may be able to help find assets.

The Office of the Superintendent of Bankruptcy Canada holds some unclaimed property stemming from bankruptcies.

The provinces of Quebec, Alberta and British Columbia have searchable unclaimed property registries.

Communication

According to the Bank Act, federally-regulated banks and trust companies have a legal obligation to send written notification after two (2), five (5) and nine (9) years of inactivity. If balance holders do not respond to this communication, the balance is transferred to the custodian as an “unclaimed balance.”

  • The custodian does not initiate contact with balance holders to notify them of unclaimed balances.
  • The custodian only contacts a claimant once it has received a valid claim request.

Retention period

  • The custodian holds unclaimed balances of less than $1,000 for 30 years.
  • Balances of $1,000 or more are held for 100 years.
  • Balances that are unclaimed at the end of the prescribed custody period are transferred to the Receiver General for Canada, effectively confiscating the money.

Fees and interest

  • The custodian pays interest for the first 10 years of custody on balances that were held in interest-bearing savings accounts before their transfer to the custodian.
  • All other deposits and instruments earn no interest.

The system dates from 1944, the year the federal cabinet also set the interest paid on interest-bearing unclaimed accounts at 1.5 per cent — a rate higher than the one currently paid on ordinary bank saving accounts.

The custodian holds the money for 30 years if the account balance is under $1,000, or for 100 years if it's more than $1,000. After the custodian releases the unclaimed cash, it goes into Ottawa's general revenues.

Finance Canada wants to cut or eliminate the interest paid on these balances. And small balances — those less than $100, which account for 70 per cent of all unclaimed balances — would be held for an as-yet unspecified period much shorter than 30 years before reverting to general revenues.

And the department wants to add dormant accounts in U.S. dollars and other foreign currencies — now excluded — to the mix.

Who can help find the account holders?

There are firms like The Wealth Coaches that find balance holders and assist them in making a claim. These firms usually offer this service for a fee and / or a share of the found money. The custodian does not endorse these firms, nor does it have any business relationship with them, but it does process valid claims initiated by such fee-for-service consultants once verified with the appropriate documentation and claim forms.

What we are seeking

We are looking for the following individuals:

  • Independent Consultants (IC's) to act as Financial Tracers to research and locate the 1.9 million unclaimed dormant account holders using their last known addresses, their financial institution of record, and the last known transaction date of the account as a starting guide.
  • Resourceful IC's should be skilled on investigative computer search techniques and may utilize social media, phone records, former neighbor reach-outs, beneficiary searches, private investigators, governmental contacts, property registries, former employers, obituaries, court records, marriage and divorce registries, and any other legal and ethical methods required in an attempt to contact the account holders, their beneficiaries, guardians, estate executors, or trustees.

Once located, the IC would send a due diligence website link and contact form to the prospective account holder to secure a limited power of attorney and consulting services retainer agreement. Once the signed documents are received, further identify verification documents will be requested from the prospect and a claim form submitted to the custodian. If successful, the IC would receive a split of the money recovered ranging from 10-25%, as outlined in the consulting services agreement.

In addition, once a client has recovered this found money, IC's will earn an additional commission on other educational courses or investment products that the client purchases from TWC.

We DO NOT utilize an MLM-style model, but rather a finder's fee-based referral commission model that pays you for total business that transacts resulting from your initial referral. Consultants have a perpetual linked connection to the client for any and all business ever done with TWC, for as long as the IC is associated with us AND current on any system access fees, training materials, and other requirements.

The Compensation Plan

The Wealth Coaches requires all representatives acting as IC's to complete a Confidentiality & Non-Disclosure Agreement (CNDA) that applies to any and all business and contacts they interface with on behalf of TWC.

IC's will earn a commision of between 10% and 25% of TWC's referral fee earned based on the total funds recovered for the client and the total business referred each month by the IC.

IC's will also earn ongoing commissions on all educational courses or products purchased by their referred clients for the term of the IC's relationship with TWC. The compensation plan will be designed uniquely for the IC and will entail attractive incentives and bonuses for achieving high targets.


The Start-up Costs

The Wealth Coaches has spent considerable effort and expense in establishing the business framework for IC's to succeed as "home-based" business consultants so they can work from home and tap into the numerous taxable deductions discussed in this course. We do, however, require some costs to be shared by each IC as cost of doing business, and to support the ongoing improvement and development of the resources you will need to succeed. Although the start-up costs are small in comparison to the tens or hundreds of thousands of dollars required to start a traditional business, there are certain costs you will need to cover at the beginning and over time.

  • All currencies are in USD for simplicity, as we are doing business throughout North America.
  • IC's must register and pay an application fee of $299 USD to become an authorized IC of TWC. This covers the setup costs of preparing the CNDA, creating web profiles and email forwards, one business card design, banking set-up for earnings payouts, and other reporting requirements that may be needed.
  • IC's pay for business cards at $30 USD for 500 cards.
  • IC's must enroll in The Wealth Coaches School of Business on the Teachable platform where role-specific teaching & training materials similar to this course will be provided. Links to key documents and customer-centric marketing tools will be made available to enrolled IC's through this private platform and through a proprietary IC portal. The courses are all inclusive at $15/mo or $99/yr. This can be expensed as a business licence fee with TWC.
  • IC's will be responsible for their own equipment, internet access, and advertising expenses as desired and required to conduct their research. IC's may optionally hire subcontractors and assistants to help with the research.
  • IC's must pay for affiliate access to the TWC school which allows them to earn referral fees paid directly by Teachable for all enrollments generated as a result of the IC's unique affiliate link, from wherever it was sourced. Teachable requires a W8 or W9 form to be completed depending on Canada or US taxpayer status. The fee for system access will be billed monthly or annually direct to TWC at the subsidized rate of $15/mo or $99/yr. This allows us to utilize Teachable for all course referral commission collections and reporting, which is then paid on the first of each month based a rolling 30-day basis after a 30-day money back guarantee to the customer.
  • IC's receive a one-page dedicated website landing page to refer to clients for enhanced credibility. Optionally, IC's can purchase a dedicated personal affiliated website at 25% off the retail price.

All in start-up costs would be $359 USD.

  • $299 for registration, $30 for 500 business cards, $15/mo platform access fee for TWC's School of Business, and $15/mo for each Teachable school affiliate link that pays you for referrals of those courses.