Author: blavigne

Waterloo Eye Institute Event Showcases Cutting-Edge CE and Trade Exhibit

Career Options, NextGenOD

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Waterloo Eye Institute

From November 15 to November 17, the Waterloo Eye Institute (WEI) hosted an exceptional event in Markham, Ontario, offering an engaging mix of continuing education (CE) and industry networking opportunities for optometric professionals. Over three days, attendees participated in 20 hours of COPE-accredited CE sessions for optometrists and 6 hours of tailored CE programming for optometric assistants.

The event also included a three-hour trade show on Saturday, featuring more than 30 industry-leading exhibitors showcasing the latest innovations in eye care products and technologies. NextGEN OD Canada Student Ambassadors attended the show

Highlights from the Distinguished Lecture Series

Dr. Etty Bitton: On Friday, Dr. Etty Bitton delivered the prestigious Woodruff Distinguished Lecture, presenting on the differential diagnosis of anterior blepharitis.

A celebrated expert in tear film physiology and dry eye, Dr. Bitton holds a Doctorate in Optometry from the University of Waterloo and a Master’s in Physiological Optics from the Université de Montréal. Currently a full professor and director of the Dry Eye Clinic at the École d’optométrie, she has been a leader in dry eye research and a contributor to global initiatives like TFOS DEWS II. Her presentation was a tribute to Dr. Emerson Woodruff’s legacy, whose contributions helped shape optometry education and research at the University of Waterloo.


Dr. Donald Hood: On Saturday, Dr. Donald Hood took the stage to deliver the 33rd Bobier Distinguished Lecture, titled A Novel Approach to Identifying Glaucoma Based on a Large Real-World OCT Database from Optometry Cases.

Dr. Hood, Professor Emeritus at Columbia University, is a renowned figure in retinal and optic nerve disease research, with nearly 400 publications and numerous accolades, including an honorary degree from SUNY College of Optometry. His lecture honored Dr. Clair Bobier’s pioneering vision for integrating scientific research into optometry education, further solidifying the importance of evidence-based practice in the profession.

Networking and Innovation at the Trade Show

Saturday’s trade show provided a bustling platform for attendees to explore cutting-edge technologies and services from over 30 exhibitors. This interactive session fostered connections between practitioners and industry leaders, further supporting the WEI’s mission of advancing patient care and optometric education.

NextGEN OD Student Ambassadors, Sara Baig and Shreya Jain, supported Clinical & Refractive Optometry during the 3-hour trade show.

Engaging Panel Discussions

The event concluded on Sunday with a dynamic “Rapid Fire Panel Discussion” on advanced scleral imaging and specialty contact lens technology. Moderated by Drs. Chelsea Bray, Shalu Pal, and Vishakha Thakrar, the panel provided practical insights and innovative approaches to enhancing patient outcomes through emerging lens technologies.

Looking Ahead

The success of the WEI’s November event underscores its commitment to fostering collaboration, education, and innovation within the optometric community. With initiatives like these, the WEI continues to pave the way for advancements in vision science and patient care, benefitting practitioners and patients alike across Canada.

 

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Why Elevating Your Emotional Intelligence Enables You to Provide Superior Client Service

Human Resources, Training & Onboarding

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two women shaking hands

In the service-oriented world of business, exceptional client service is vital. While technical expertise is important, the ability to connect with clients on an emotional level is what truly sets you apart. Emotional intelligence (EQ) is key to building these meaningful connections. By enhancing your EQ, you not only improve your professional abilities but also elevate the quality of service you deliver to your clients. Here’s how developing EQ leads to better client service:

  1. Enhanced Decision-Making for Client Needs

When you possess high EQ, you excel at making decisions that are both rational and emotionally attuned to your clients’ needs. By understanding their emotions and concerns, you can offer solutions that are not only effective but also resonate with them on a personal level. This fosters stronger client relationships and increases satisfaction, as clients feel heard and valued.

  1. Improved Client Relationships

Building and maintaining strong client relationships is essential for long-term success. High EQ allows you to connect with clients on a deeper level, fostering trust and mutual respect. When clients feel understood and appreciated, they are more likely to remain loyal and refer others to your services. Demonstrating empathy and understanding consistently creates a positive and memorable client experience.

  1. Increased Adaptability to Client Expectations

Client needs and expectations can change rapidly. Emotional intelligence provides the flexibility needed to navigate these changes effectively. Whether it’s adjusting to evolving requirements or handling unexpected challenges, high EQ enables you to stay calm, responsive, and solution focused. This ensures that clients receive the best possible service, regardless of the circumstances.

  1. Enhanced Communication with Clients

Effective communication is the foundation of excellent client service. With high EQ, you can convey your ideas clearly while understanding the emotions and concerns behind your clients’ words. This ensures that your communications are not only clear and concise but also empathetic and supportive, leading to better outcomes and stronger client relationships. Enhanced listening skills, a core component of EQ, help you fully understand your clients’ needs and respond in ways that meet their expectations.

  1. Better Stress Management for Client Satisfaction

Managing stress is crucial when working closely with clients, especially in high-pressure situations. High EQ equips you with the tools to manage your emotions, allowing you to stay composed and focused when challenges arise. This calm demeanor reassures clients, contributing to a positive experience and enhancing their overall satisfaction with your services.

  1. Delivering Consistent, High-Quality Service

By elevating your EQ, you position yourself to deliver consistent, high-quality service that meets or exceeds client expectations. The ability to manage relationships, adapt to changing needs, and communicate effectively ensures you can provide tailored solutions that genuinely benefit your clients. Consistency in service delivery not only strengthens client loyalty but also enhances your reputation as a reliable and professional service provider.

Elevating your emotional intelligence isn’t just about personal or professional growth—it’s about providing the best possible service to your clients. By improving your decision-making, communication, adaptability, and stress management, you offer a level of service that stands out in today’s competitive market. This professional edge keeps clients satisfied, loyal, and willing to refer others to your business.

Ready to elevate your client service to the next level?
Visit www.emotionalintelligenceconsultinginc.com to explore available trainings and discover how enhancing your EQ can transform your client interactions and boost your business success. Don’t just meet expectations—exceed them with the power of emotional intelligence.

 

Jade Bodzasy

Jade Bodzasy

Jade Bodzasy, Founder of Emotional Intelligence Consulting Inc., is a dedicated Coach and Consultant for Optometric Practices. Her extensive background includes over 20,000 hours of expertise focused on customer relations, work structure refinement, training method development, and fostering improved work culture within Optometric practices.

Certified in Rational Emotive Behavior Techniques (REBT), Jade possesses a unique skillset that empowers individuals to gain profound insights into the origins of their behaviors, as well as those of others. Leveraging her certification, she equips optometry practices with invaluable resources and expert guidance to establish and sustain a positive, healthful, and productive work environment.

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Empowering Patients Through Informed Choices

Independent SightLines

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Young woman Optometrist

Not long ago, I had an insightful conversation with an optometry student, bursting with energy, excitement, and dreams of soon becoming a Doctor of Optometry. As we spoke, their passion for the field was clear, but so was a perspective that gave me pause: a somewhat paternalistic view of patient care.

This wasn’t a unique flaw but rather an understandable outcome of his eagerness to help. However, it sparked a much-needed dialogue about how we, as optometrists, empower patient’s choices or potentially limit them.

 

During our exchange, I saw his genuine concern over how he might come across as “pushing” patients toward expensive or unnecessary treatments. His trepidation mirrored a fear many young professionals face: being seen as a salesperson rather than a healthcare provider.

It was then I felt compelled to offer a candid reply: “We are not drug dealers; we are doctors.” Those words seemed to strike a chord, sparking a shift in our discussion, and brought into focus the essence of patient care—empowerment through informed choice.

 

Shifting the “Pushing” Paradigm

The student’s reluctance to recommend more expensive options, for fear of pushing patients, brought up key questions. Is it truly “pushing” when we present a range of solutions to improve patient outcomes?

Are we not duty-bound to educate our patients on the full scope of treatments available to them, from basic to advanced?

In our profession, it’s easy to shy away from discussions about cost, but doing so may lead to unintentional harm. By not informing patients of all their options, especially those beyond the immediate scope of our clinics, we risk depriving them of the chance to make the best decision for their vision and health.

This raises critical considerations:

  • Are we conscious of each patient’s financial situation?
  • Do we provide enough information to empower them to choose?
  • How do we ensure we are guiding without overwhelming?

It is imperative that we see these interactions not as sales opportunities but as moments to educate, guide, and empower.

 

The Power of Informed Choices

Every patient has the right to fully understand their condition and the possible interventions available to them—whether it be a simple corrective lens or a state-of-the-art treatment.

The notion of concealing the “best” or more expensive options can backfire. Without offering a comprehensive view, we may create an information void that limits the patient’s ability to choose freely and wisely.

Even worse, if the initial treatment fails, and the patient later discovers that advanced options existed all along, it can erode their confidence in both the doctor and the treatment process. Transparency builds trust, withholding creates doubt.

 

Educate Without Overwhelming

Patient education is the cornerstone of our profession, but it requires balance. Too much information at once can overwhelm, too little can misinform. To achieve this balance, I recommend blending both verbal explanations with digital or printed resources.

Additionally, for more complex conditions like Myopia Management, using a “drip” approach — introducing information gradually — can help patients absorb and understand their choices over time.

Early intervention is key, but so is presenting options in a way that patients feel empowered to choose. This dialogue is where we must excel.

 

Guide the Conversation, Not the Sale

There’s a fine line between presenting options and dictating choices. It’s not enough to offer a buffet of treatments and expect patients to navigate these options alone.

Our role is to guide them, present the full spectrum of treatments, and create a space for personalized dialogue.

In these moments, it’s essential to engage in meaningful conversation—one that considers their lifestyle, financial priorities, and health goals.

By doing so, we help them see beyond immediate costs and consider long-term benefits, ultimately allowing them to make the decision that feels right for them.

 

Case in Point: A Lesson in Offering Without Judgment

One patient stands out in my mind as a perfect example of why this comprehensive, judgment-free approach matters.

A woman who identified as low-income came into my clinic seeking solutions for her vision issues. During our discussion, I offered her several options, including a premium-priced treatment: contoured prism lenses.

Despite the cost, she ultimately chose the more expensive solution, drawn to the potential for better comfort and improved vision. Her results were nothing short of remarkable.

This experience reaffirmed for me that offering patients the best solutions, without presumption about their financial capacity, is key to empowering them to take control of their own care.

 

Be the Doctor, Not the Salesperson

At the heart of optometry is the doctor-patient relationship—a dynamic that is built on trust, information, and respect. We are not here to sell products, nor are we here to judge what a patient can or cannot afford. Our responsibility is to ensure that patients have the tools they need to make informed choices about their health.

By fostering an environment of open dialogue, presenting a full range of options, and respecting their autonomy, we do far more than treat their eyes. We empower them to take ownership of their vision and, in turn, their lives.

 

 

2024 Trevor Miranda

DR. TREVOR MIRANDA

Dr. Miranda is a partner in a multi-doctor, five-location practice on Vancouver Island.

He is a strong advocate for true Independent Optometry.

As a serial entrepreneur, Trevor is constantly testing different patient care and business models at his various locations. Many of these have turned out to be quite successful, to the point where many of his colleagues have adopted them into their own practices. His latest project is the Optometry Unleashed podcast.

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I’m able to run my clinic in the way I’d like to

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Dr. Thomas Jay Yung, an optometry partner with Specsavers

“With Specsavers taking care of a lot of the background business aspects, I can spend my effort on delivering a good patient experience.”  – Dr. Thomas Jay Yung, Optometry Partner

 

Since graduating from the University of Waterloo in 2019, Dr. Thomas Jay Yung has been practicing optometry full time in Calgary. In 2023, Dr. Yung took the plunge into partnership with Specsavers and clinic ownership. Now that he’s celebrated one year at his clinic located in Specsavers at Marlborough Mall, Dr. Yung shares how he’s finding business ownership and how Specsavers marketing is helping to bring in new patients.

 

Why did you choose partnership with Specsavers?

When I decided to become an optometrist, I had also decided that I would want to own my own practice as well. After I graduated, I began looking for opportunities to own a clinic but circumstances such as cost, and a lack of good opportunities prevented me from realizing that goal.

I heard about Specsavers from colleagues and co-workers around mid-2022. I decided to look further into partnership because I heard positive feedback from those who were already in the partnership process. When I learned more, it only reinforced the positives I had previously heard. I was convinced by the reasonable $25,000 entrance fee for the amount of help that I would get in starting up the Specsavers store. Not having to worry about those aspects really helped to minimize the stress that comes with opening a new independent clinic.

 

How’s business at Specsavers Marlborough Mall and your clinic?

So far, so good! I think collaborations with someone like Col. Chris Hadfield are worthwhile since it helps promote the importance of eye health from someone who is highly respected. The best results for my clinic have been from Specsavers’ marketing support prioritizing eye health, eye exams, and OCT messaging. That’s what seems to get people in our clinic. This past August was a record month for us, and it was a combination of reaching our one-year recalls, the summer being a busier time, and the great promotions Specsavers has for eyewear.

 

We’ve been making our name known throughout the community and have been getting plenty of positive feedback from patients. It’s by the patient experience that I would measure the success of my clinic. Ultimately, the team at Specsavers Marlborough Mall work together so that people can have quality eyecare, which will positively impact their quality of life. So, at the end of the day, if the patient is taken care of, I would call that a success. And judging by the feedback we have received over the past year – I would say that we’ve been very successful.

 

What’s been a highlight about opening your independent clinic?

Opening up my own clinic means that I’m able to run it the way I’d like to. My focus has always been on the patient experience and being in full control of that means that I have the freedom to do my best in that area.

My favourite part of being an optometrist is that I can make a positive difference in the lives of people every day. Seeing satisfied patients is what makes this job and the schooling I did all worth it. I believe in providing the best clinical care, giving honest recommendations, and doing it all for an affordable cost.

With Specsavers helping with a lot of the background business aspects, I can spend my effort on delivering a good patient experience.

 

Make the next move in your optometry career

Whether you have an existing business or you’re looking to start out, we have partnership options that could work for you. Our partnership team can tell you how.

Visit specsaverspartnership.ca

 

 

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Small Business Tax Rate and Its Erosion with Passive Income

Finance|Wealth, Tax & Legal Matters

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Taxes C3 Wealth article

In recent years, the landscape of Canadian small business taxation has undergone significant changes, particularly concerning the small business deduction (SBD) and its interaction with passive income. Understanding these changes is crucial for small business owners who rely on the SBD to reduce their tax burden and promote growth.

What is the SBD?

The SBD is a tax benefit on the first $500,000 of active business income (ABI) in a Canadian-controlled private corporation (CCPC). This reduction is designed to help stimulate business growth and job opportunities.

The Tax Advantage of the SBD

The current combined federal and provincial corporate tax rate on income eligible for the SBD is 11% in Alberta. This represents a 12% tax savings compared with the general rate income pool (GRIP) tax of 23% on active income.

Changes in Corporate and Personal Taxation (2018)

In 2018, the Canadian tax system underwent significant adjustments aimed at achieving greater integration between business and personal taxation. This overhaul primarily affected business owners and their comparison to salaried individuals, creating a near-perfect tax alignment.

2018 Tax Changes Affecting the SBD

The 2018 federal budget introduced significant changes to the impact of passive income within corporations. If passive income exceeds $50,000 in a given year, a clawback* begins on the $500,000 of eligible ABI for the SBD.

Understanding Passive Income

Passive income includes interest, dividends, and capital gains. The taxable portion of these forms of income is termed adjusted aggregate investment income (AAII).

How is Corporate Passive Income Taxed?

Following the 2018 tax changes, corporate passive income as AAII is currently taxed at a rate of 46.7% in Alberta (combined federal and provincial rate).

The Tax Impact is Greater after June 25, 2024

In 2018, at the time of “near perfect integration” the capital gains inclusion rate was 50%. This means that 50% of the gain was deemed taxable as AAII. On June 25, 2024 the capital gains inclusion rate for corporations was increased to 66.7%, making it easier to surpass the $50,000 threshold, thereby affecting SBD eligibility.

How SBD Erosion Works

For every dollar of ABII that exceeds the $50,000 threshold, SBD eligibility is reduced by $5*. Once passive income surpasses $150,000 in any given year, the entire SBD on active income is eliminated.

Example of SBD Erosion in Alberta

Consider a scenario where a corporation has $500,000 in taxable active business income. Without any investment income, the corporate tax bill would amount to $55,000.

If this corporation also has $100,000 of ABII**, which exceeds the $50,000 threshold, the SBD rate of 11% will apply only to $250,000 of active income, with the remaining $250,000 taxed at the GRIP rate of 23%.

SBD Tax on $250,000: $250,000 × 11% = $27,500

General Rate Tax on $250,000: $250,000 × 23% = $57,500

Total Tax Bill on Active Income = $85,000 which is $30,000 MORE than if the corporation had passive income less than $50,000!

**this example does NOT include the tax bill on passive income. To see examples for other provinces and the tax on passive income visit our website to access a simple calculator.

A Complex Conversation

Navigating investment and divestment strategies within your corporation has become increasingly complex due to ongoing tax changes. A holistic financial plan that integrates both business and personal aspects of your wealth and taxation is essential to empower you in your financial journey.

It is never too early or too late to initiate your financial planning. Contact us at 780-261-3098 or email (Roxanne@C3wealthadvisors.ca) to set up your next conversation.

 

*Note: Ontario, Quebec and New Brunswick provincial tax calculations do not mirror the federal rules for the SBD clawback.

 

Roxanne Arnal is a CFP®, former Optometrist, Professional Corporation President, and practice owner. Today she is on a mission to Empower You & Your Wealth with Clarity, Confidence & Control.

These articles are for information purposes only and are not a replacement for personal financial and tax planning. Individual circumstances and needs vary. Errors and Omissions exempt.

 

ROXANNE ARNAL,

Optometrist and Certified Financial Planner

Roxanne Arnal graduated from UW School of Optometry in 1995 and is a past-president of the Alberta Association of Optometrists (AAO) and the Canadian Association of Optometry Students (CAOS). She subsequently built a thriving optometric practice in rural Alberta.

Roxanne took the decision in 2012 to leave optometry and become a financial planning professional. She now focuses on providing services to Optometrists with a plan to parlay her unique expertise to help optometric practices and their families across the country meet their goals through astute financial planning and decision making.

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5 Principles of Cash Management

Building Wealth, Finance|Wealth

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Cash Management

In our cashless society, it’s common to lose the connection between what we are earning and what we are spending, often leading to empty bank accounts and increasing debt. How do you manage debt effectively while building long-term financial security and peace of mind?

  1. Review Your Cash Outflows

Sounds so simple, but do you know where your money is actually going?

Review a minimum of 3 months of bank and credit card statements. Summarize where your money has been going. Be honest. You might be surprised how much you are spending eating out, the number of “tap” charges you are paying, and the actual burden of interest charges.

  1. Create a Cash Flow Plan and Stick to It

Now that you know where the money is going, create a better solution.

This solution still needs to be realistic in order to be successful. Build in your mandatory payments like student loan repayment, car payments, rent and disability insurance premiums. Add in your after tax income. Then review how much you can allocate to everyday expenses like gas, groceries, gifts, clothing and social activities. Tracking this spending allows you to manage it and discipline gives you a clear plan for reaching your goals.

  1. Build and Maintain an Emergency Fund

An emergency fund is your personal safety net. Life is unpredictable and unexpected expenses, like a car repair or sick pet, can throw your financial stability into chaos. Your emergency fund should also be able to cover your basic needs while you wait out the elimination period before your disability insurance benefits are payable in the event that you are unable to work due to illness or injury.

The general recommendation is to have at least 3 to 6 months worth of living expenses set aside in an accessible, but separate, account from your daily spending.

Carve out a piece of your monthly income to build up this pool and use it for true emergencies only.

  1. Control Debt Wisely

Debt isn’t inherently bad, but it’s important to manage it carefully and use it strategically.

First focus on paying off high-interest debt, like credit card balances (and be committed to permanently keeping it off). These debts grow quickly and can easily overwhelm your finances if not addressed promptly. Look back at our previous article on Tackling Debt [https://www.eyecarebusiness.ca/resources/tackling-debt/ ] to learn about the Avalanche & Snowball methods.

  1. Save & Invest for Your Future

The final principle of personal cash management focuses on the future you. Sometimes hard to image when you are in the here and now, but the future you deserves your love.

Once you’ve build up your emergency fund and managed your debt, you can begin focusing on saving for future goals – buying a home, funding your child’s education and saving for retirement.

It’s essential to have a plan in place for your savings goals and the investments you pick should align with the time frame of each goal to help create a financial future of true freedom.

A Fool & His Money are Soon Parted

Understanding income, expenses, debt and savings are key to creating a stress free present and a future filled with opportunity. A holistic financial plan should integrate all aspects of your life in order to truly put you in the driver’s seat.

The best plans use a long-term strategy where your progress is measured and goals are adjusted as your life changes.

 

 

 

It is never too early or too late to set your financial plan in motion. Interested in an advisor that understands how to live for today and tomorrow, give us a call (780-261-3098) or email (Roxanne@C3wealthadvisors.ca) to set up your next conversation.

Roxanne Arnal is a CFP®, former Optometrist, Professional Corporation President, and practice owner. Today she is on a mission to Empower You & Your Wealth with Clarity, Confidence & Control.

These articles are for information purposes only and are not a replacement for personal financial planning. Everyone’s circumstances and needs are different. Errors and Omissions exempt.

 

ROXANNE ARNAL,

Optometrist and Certified Financial Planner

Roxanne Arnal graduated from UW School of Optometry in 1995 and is a past-president of the Alberta Association of Optometrists (AAO) and the Canadian Association of Optometry Students (CAOS). She subsequently built a thriving optometric practice in rural Alberta.

Roxanne took the decision in 2012 to leave optometry and become a financial planning professional. She now focuses on providing services to Optometrists with a plan to parlay her unique expertise to help optometric practices and their families across the country meet their goals through astute financial planning and decision making.

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Vision Entrepreneur by OSI Group: Your Key to a Successful Optometry Practice

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OSI key image

Ready to turn your passion for optometry into a thriving business? The Vision Entrepreneur program is your gateway to launching or enhancing your optometry practice. Whether you’re a newcomer or a seasoned professional aiming to delve into optometry entrepreneurship, this program offers unwavering support at every turn. With experienced coaches deeply passionate about the field, you’ll gain the necessary skills and insights to navigate the complexities of entrepreneurship and build a thriving practice.

Develop a Clear Vision and a Solid Business Plan

Turn your aspirations into reality with guidance from our expert coaches. They’ll help you set clear business objectives, pinpoint your target market, and devise an effective strategy.

 

Master the Essentials of Optometry Practice Management

Achieving success in optometry requires more than just clinical prowess; robust management skills are just as critical. This program provides hands-on coaching in vital areas such as finance, operations, and business development, ensuring a comprehensive approach to practice management.

Enhance Your Confidence and Motivation

The path of entrepreneurship is full of challenges, but you won’t be alone. Our coaches offer continuous encouragement and support, empowering you to unlock your potential and tackle obstacles confidently.

 

Build Networks and Access Key Resources

Vision Entrepreneur connects you to a vast optometry community. Our coaches introduce you to professionals, mentors, and investors. By expanding your professional network and resources, they open doors to clinic acquisition opportunities.

Craft Effective Marketing and Sales Strategies

Develop marketing and sales strategies that attract and retain clients. By adjusting a game plan to your niche and budget, our coaches guide you to create compelling marketing materials and targeted sales strategies while enhancing your online presence.

Navigate Legal and Regulatory Frameworks

Starting an optometry practice involves a deep understanding of the legal and regulatory landscapes. Our program offers expert advice and links you with legal professionals to ensure full compliance with all regulations.

 

Manage Stress and Achieve Work-Life Balance

Balancing the demands of entrepreneurship without compromising personal well-being is crucial. Our coaches provide strategies to help you manage stress and maintain a healthy balance, ensuring you thrive both personally and professionally.

 

Invest in Your Future

Transform the dream of a successful optometry practice into reality with Vision Entrepreneur. Ready to take the first step toward a successful optometry practice? Visit us today to learn more.

 

visionentrepreneur.ca

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7 Key Features to Look for in a Financial Advisor

Finance|Wealth, Resources

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Financial advisor

The world of financial advice can be very confusing – it is proverbial alphabet soup out there. Let’s take a look at some of the features you should be looking for in a true advisor.

  1. What training have they undergone?

The worldwide standard for financial planning is the CFP®. A Certified Financial Planner® has undergone rigorous training and examination, adheres to a strict ethical standard and is committed to ongoing professional development. There really is no substitute for this designation.

  1. Are they truly a fiduciary?

A requirement of CFP® certification is that designates must commit to serve in the best interests of their clients. Unfortunately, the certification doesn’t guarantee true fiduciary advice. A fiduciary must make recommendations that are truly in the best interest of the client. Not their pocket book or employer.

  1. Are they licensed to sell products and other services?

CFP® professionals can be licensed to sell products alongside providing advice. It is imperative that you understand their licensing credentials and how recommendations are made within any licensing restrictions. Understanding your options is critical to making smart financial decisions.

  1. Do they utilize an Investment Policy Statement (IPS) to provide you with suitable recommendations?

An IPS is a document that outlines your risk tolerance, risk capacity, and overall opinions regarding investing. Your investments should align with your personal situation.

  1. Are they a specialist in the circumstances that apply to you?

Financial planning has many facets and finding an advisor that understands your situation is critical to long term success. Planners that understand the business of optometry will have far more to offer you than just reviewing your investment strategy.

  1. Do they integrate the various tax “persons” that apply to your situation?

The CRA defines “persons” as different tax entities. To have a truly efficient tax and planning strategy, your professional advisor should integrate all “persons” for your personal situation, such as spouses, operating companies, holding companies and trusts for example.

  1. Do they provide you with actionable items to bring you closer to your goals?

A planner should have a deep understanding of your goals and where you are today. The plan should help bridge that gap. Because life is ever changing, your goals will change too. How often are your goals reviewed? Is there follow-up on actionable items? How is your progress measured?

A Holistic Approach to Financial Planning

A holistic financial plan should integrate all aspects of your life: personal and business. It should include an IPS, a Letter of Engagement, goal creation and action items. The best approach is a long term strategy where your progress is measured and goals are adjusted as your life changes.

If you aren’t sure your advisor is a CFP® professional who is acting in your best interests first, don’t be afraid to ask the questions.

It is never too early or too late to set your financial plan in motion. Interested in an advisor that not only understands optometry deeply but is truly your fiduciary, give us a call (780-261-3098) or email (Roxanne@C3wealthadvisors.ca) to set up your next conversation.

Roxanne Arnal is a CFP®, former Optometrist, Professional Corporation President, and practice owner. Today she is on a mission to Empower You & Your Wealth with Clarity, Confidence & Control.

These articles are for information purposes only and are not a replacement for personal financial planning. Everyone’s circumstances and needs are different. Errors and Omissions exempt.

 

ROXANNE ARNAL,

Optometrist and Certified Financial Planner

Roxanne Arnal graduated from UW School of Optometry in 1995 and is a past-president of the Alberta Association of Optometrists (AAO) and the Canadian Association of Optometry Students (CAOS). She subsequently built a thriving optometric practice in rural Alberta.

Roxanne took the decision in 2012 to leave optometry and become a financial planning professional. She now focuses on providing services to Optometrists with a plan to parlay her unique expertise to help optometric practices and their families across the country meet their goals through astute financial planning and decision making.

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Partnering for Success: Dr. Theodor Buzea’s Story with Specsavers

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Specsavers Dr. Theodor Buzea featured image

Dr. Theodor Buzea always had a clear vision for his future – he wanted to be an optometrist and a business owner. With his path set, he oriented his education towards becoming an optometrist, completing both his undergraduate and optometric degree at the University of Waterloo. After years in the optical industry, Dr. Buzea took the early leap to become an optometry partner with Specsavers. Today, Dr. Buzea has achieved both of his goals and owns an independent clinic located in Specsavers Southcentre in Calgary.

Dr. Theodor Buzea

Dr. Theodor Buzea always had a clear vision for his future – he wanted to be an optometrist and a business owner. With his path set, he oriented his education towards becoming an optometrist, completing both his undergraduate and optometric degree at the University of Waterloo. After years in the optical industry, Dr. Buzea took the early leap to become an optometry partner with Specsavers. Today, Dr. Buzea has achieved both of his goals and owns an independent clinic located in Specsavers Southcentre in Calgary.

 

Q: What inspired you to become a business owner?

I strongly believe that business ownership is one of the best ways to create change in the world. The desire to try and create an amazing work environment where people can come to learn and progress their careers is what inspired me the most, but opening a business holds a certain level of risk. I wanted to get hands-on experience in the field to understand the growth opportunities and needs before jumping into ownership.

 

Q: What initially drew you into partnership?

Specsavers are pioneers in how they provide eyecare support to optometrists. I really appreciate and value the way they put patients first and how they’ve been able to maintain that throughout the years.

They also hold the same values as I do when it comes to fostering a healthy work environment and making quality eyecare accessible. This encouraged me because I wanted to partner with a company that would help facilitate my goals for both my patients and team.

Dr. Buzea at the opening of his Specsavers store and independent clinic at Southcentre Mall in Calgary, AB.Dr. Buzea at the opening of his Specsavers store and independent clinic at Southcentre Mall in Calgary, AB.

Q: What has surprised you about partnering with Specsavers?

The sense of community is absolutely amazing. I’ve had the opportunity to meet so many talented individuals and it’s been great to work with like-minded people. Everyone at Specsavers approaches situations with a team mentality, we’re all working towards the same goal to provide great care for our patients and customers. Working with the people here is truly a breath of fresh air.

Q: How have things been going since opening your independent clinic?

We’re happy to see the community appreciating us for being here to help them. I believe that patient volume grows when your end goal is to provide patients with the best care and service possible. We’re seeing exam bookings fill up quickly and we always do our best to help anyone who drops by the clinic. I was very open-minded coming into this and mainly wanted to make a difference in the community.

 

Search for associate and partnership opportunities at join.specsavers.com/ca.

 

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Students Complete FYidoctors Summer Program Feeling Enriched and Inspired

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Sandra Nguyen 2nd year student UWaterloo“Participating in the summer student program at FYidoctors was an amazing hands-on and inspiring experience. I appreciated the flexibility to choose whether I wanted to work at the reception or the dispensary, allowing me to tailor the program to my interests and refine any skills that I wanted to improve. Guest speakers, including experienced doctors with special interests, provided us with insightful presentations each week that broadened and deepened my understanding of the field. This program truly offered a customizable and enriching experience that has left me more excited for my future career.”

~ Sandra Nguyen, 2nd year Optometry student at University of Waterloo, School of Optometry and Vision Science

 

 

FYihealth group has had a very successful summer student year in 2024, welcoming a total of 80 students to its FYidoctors, Visique, BonLook and solis optics practices across Canada through its Summer Student Program. Students in various years of their optometry studies attended a customized program tailored to their areas of interest, including mentorship from practicing optometrists, hands-on experience performing patient pre-tests and exams, and a look into the clinics’ business operations.

“This year, we’ve welcomed our largest cohort of student optometrists ever in our organization’s history,” shares Harneet Gill, Senior Director of Talent Acquisitions for FYihealth group, “Over these last few weeks of summer, I have heard so many amazing stories from our clinics about this group of  optometry students and I do hope we get the chance to welcome them back as fully licenced and practicing doctors after graduation!”

Jeremiah Hyslop 2nd year student UWaterloo

 

“In optometry school, many different individuals and companies speak to students with offers, programs, and messages. However, none were more hyped up within the student body than the FYidoctors Summer Student Program, thanks to the great experiences of past students to partake. Now nearing the end of my own experience in this program, I can absolutely see why my colleagues were so enthusiastic. I have worked many jobs, but none have come close to being so educational, relevant for my future career, and focused on providing a great experience at the workplace. My only regret is not jumping on this opportunity a year earlier!”

~Jeremiah Hyslop, 2nd year Optometry student at University of Waterloo, School of Optometry and Vision Science.

 

The Summer Student Programs offered by FYihealth group are highly competitive and sought-after positions for young optometrists-in-training, hailing from Universities across the US and Canada.

“The Summer Student Program has been instrumental in fostering connection and collaboration with future leaders in optometry. The mutual benefit that this program offers can only be described as incredible,” says Dr. Ryan Hogan, FYidoctors Optometrist and Advisory Committee Campus Ambassador. “Opportunity comes from both angles as students are able to learn from established doctors while current optometrists can source new talent to join their practices. All of our summer students have joined the FYidoctors family after graduation and this program helps ensure continued success in the field of optometry.”

Brett Corner 1st year student New England College of Optometry“The FYidoctors Summer Student Program gave me the opportunity to enhance my clinical skills, particularly with patient communication and the use of diagnostic tools like the OCT and Humphrey Visual Field. It was valuable to shadow ODs during complex eye exams as well as having the opportunity to practice the skills I had learned in school like retinoscopy and refraction. The discussions I had with the seasoned professionals at a rural clinic not only boosted my confidence in my skills but also deepened my understanding of the importance of trust in the patient-doctor relationship. The advice and mentoring I received this summer led to an invaluable learning experience.”

~ Brett Corner, 1st year student at New England College of Optometry (NECO)

 

Founded in 2008 by a small group of optometrists, FYihealth group’s structure and operations is based on the essential belief that doctors need to be at the center of all eye care health and vision solutions, and that patients deserve access to the best technology, doctor care, and experience. Today, FYihealth group is Canada’s leading diversified healthcare organization with over 650 optometrists serving over 370 locations coast to coast.

Named one of Canada’s Best Managed Companies for five consecutive years, Canada’s Top Growing Companies for two years in a row, and recently certified a Great Place to Work® for the second year, team members credit the company’s success to its dedication to its people and their communities. The organization looks forward to continuing its growth, not only through its student programs, but by welcoming experienced doctors to the team as well.

FYihealth group is a strong supporter of the growth of future optometrists as exemplified by its $5 million donation in 2023 to help build the Waterloo Eye Institute, officially breaking ground to begin construction earlier this year in June. “I wouldn’t be where I am today without optometry,” explains Dr. Alan Ulsifer, Chair & CEO of FYihealth group, “Being able to give back to the place that I owe my profession to is not only a privilege but almost like a professional obligation. As optometrists, we should not be competing against one another, but working together to bring the best eye care possible to the public and finding the best solutions for their eye health needs.”

Emily Chan 2nd year student Pacific University“I had an amazing experience participating in the FYidoctors Summer Student Program after my first year of optometry school. It was a fantastic opportunity to work in a clinic, observe the patient pathway, and apply what I learned in school into what I was learning in clinic. Because there are many FYidoctors locations across Canada, I am fortunate to be able to work and provide care to patients within my community. I was also able to connect with optometrists in my clinic. During the program, I was able to work and shadow the doctors, opticians, pre-screen, and front desk staff. I was also able to meet and learn from other doctors and peers in the program through weekly lunch hour socials and presentations. It is a truly rewarding and enriching 3-month experience interacting with patients and learning more about optometry!”

~ Emily Chan, 2nd year Optometry student at Pacific University, College of Optometry.

FYihealth group wishes all its summer students the best in their next year of studies!

To learn more about FYihealth group’s Summer Student Programs, please visit https://fyihealthgroup.com/careers/ or contact Michelle Melynk at Michelle.Melnyk@fyidoctors.com

FYidoctors Michelle Melnyk

Michelle Melnyk

With over a decade of dedicated service, Michelle Melnyk has been proud to have influence across various roles in Talent Aquisition. At FYidoctors, she began as the Optometrist Recruiter for the Ontario region, and soon after, stepped into her current role as Manager of Campus Engagement. Her journey began with a Bachelor of Arts in Psychology from Mount Royal University with a minor in Human Resources, where she developed an understanding of human behavior and organizational dynamics. Beyond her professional endeavors, Michelle is known for her advocacy for work-life balance and her passion for family, plants, and travel. With her background and dedication, Michelle continues to shape the careers of individuals while making meaningful contributions to the field of talent management.

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