BDC and Kemp Financial Group Inc.: A wealth of opportunity


A wealth of opportunity

The family-run wealth management firm, Kemp Financial Group Inc. in Niagara Falls, Ontario, which helps clients transition their wealth from one generation to the next, was growing and the company’s owners had every intention of developing their business further.

“As entrepreneurs, we want to grow our business as much as possible and focus on what we are great at, which is running our business and working with our clients,” explains Partner Michael Kemp.

In order to focus their full attention on growth and creating client value, the partners required extra capital to pursue new business development opportunities, such as buying books of business. An injection of capital would also permit the company to increase manpower and hire an office administrator. This would in turn reduce the office manager’s clerical load and allow the manager to use her qualifications and experience in the financial services industry to bring in more business and improve client experience.

Working with the business to find a solution, BDC refinanced its mortgage, and increased the amortization period. This meant lower monthly mortgage payments that freed up working capital for Kemp Financial Group’s needs.

With a more comfortable mortgage payment level, the partners had sufficient funds to take on the extra employee needed for administrative tasks, and more time and working capital to focus on developing new business and growing their company.

For Michael Kemp, his company’s partnership with BDC is “a breath of fresh air. Knowing that we have the flexibility and support of such a great organization allows us to focus on the things that are most important.”