I bumped into a long-term friend who had sold his business a few years ago. He shared his story about how he had invested his sudden wealth. He had bought into the investment fashion of the day – crypto and cannabis. It had taken a year to reduce his fortune by two-thirds. Now he informed me he was looking at AI. I asked about his long-term financial plan, but he had that dreaded disease of FOMO (Fear of Missing Out). As I met his young son, I wondered about the family’s dwindling wealth and the impact on this bright young man.

Business owners selling their businesses will reap the rewards from their hard-earned assets. There's a critical facet that must not be overlooked: the art of thoughtful planning for the long term. Remember, the ultra-high-net-worth families’ wealth isn't built on hasty decisions or fleeting trends. They have been cultivated and deliberately planned, with wise choices in order to withstand the market winters.

Later that week, amidst the scorching Canadian summer, I found myself in the serene beauty of the Aga Khan Garden in Edmonton, Alberta. As I wandered along its pathways, surrounded by the soothing harmony of nature and architectural design, I thought about my friend and why I had not been able to convince him to develop a long-term plan. I couldn't help but draw parallels between the meticulous planning that went into creating such a haven in nature as the Aga Khan garden, and the path to cultivating enduring wealth.

In a world that often glorifies instant gratification and rapid gains, the Aga Khan Garden stands as a testament to the beauty of deliberate, long-term planning. Just like the choice of trees against still ponds, and the carefully positioned shrubs and flowers, our wealth too demands careful selection and placement to withstand the metaphorical brutal snows that financial markets can bring.

While I marveled at the garden on that hot day, I couldn't help but envision the same place during the harshness of winter—reminding me of the importance of considering the unseen challenges that can impact our wealth. Much like tending to a garden that thrives through all four seasons, our financial planning should be resilient enough to weather any cruel, ice storm that may arise.

As business owners, we're no strangers to strategy and vision. Yet, with the excitement that comes from a sudden wealth influx after the sale of the business, it's easy to fall prey to the allure of immediate investment fashions. But let's take a lesson from the Aga Khan Gardens—a product of ten years of careful planning. A hastily planted garden, like a hastily invested portfolio, might yield initial fun blooms, but it's the sustained, strategic approach that transforms it into an enduring masterpiece.

While my stroll through the garden allowed me the space for reflection and planning, I encourage each of you to find your own serene oasis—be it a botanical garden or a place that inspires introspection. Just as the Aga Khan Gardens offer a sanctuary, let your quiet space in nature serve as a reminder of the importance of envisioning the long-term growth of your wealth.

So, as you stand on the brink of a new chapter, I implore you to approach your wealth with the same thoughtfulness that the garden designers put into every choice they made.

Pick your assets like you pick your seeds and trees, plant them strategically in your portfolio, and nurture them over time.

Don’t be like my friend and choose spectacular blooms that are gone forever at the first blast of Artic winds.

Just as the Aga Khan Gardens has grown into an oasis of calm joy, your wealth too can blossom into a long-term source of enduring prosperity.

Here's to the art of cultivating wealth that stands the test of time.