If you're looking to break into the high-net-worth (HNW) market, you know the challenge: these clients are guarded, busy, and already surrounded by other trusted professionals. So how do you earn their attention—and their trust?
You don’t lead with a pitch. You lead with solving a problem.
Enter the Health Spending Account (HSA): a simple, CRA-approved strategy that saves incorporated HNW clients thousands in taxes while solving a real pain point—healthcare costs.
What Is a Health Spending Account (HSA)?
An HSA allows incorporated business owners to pay for personal medical expenses through their corporation. The business deducts 100% of the expense, and the individual receives the reimbursement tax-free. It’s one of the few legal ways to convert taxable income into a tax-free benefit. Our HSA Select plan is an ideal solution to do this.
For HNW clients—think doctors, dentists, consultants, and entrepreneurs—this is a no-brainer. They’re already spending thousands on healthcare. You’re simply showing them how to do it smarter.
Why HSAs Are the Perfect Door-Opener
You’re not asking for assets. You’re not selling a product. You’re offering a tax-saving strategy that:
- Solves a real problem they already have
- Builds instant credibility and trust
- Opens other doors
It’s the perfect “first win” that opens the door to deeper conversations about compensation planning, retirement strategies, and wealth transfer. After showing value it’s a pretty simple next step. “Yes, I’m a little surprised you were not already familiar with this concept as this is business owner 101 when it comes to financial planning… If this was missed, what else was missed”?
What to Say to Spark Interest
Here’s a simple script to use in email, LinkedIn, or casual conversation:
“Hey [Name], I work with incorporated professionals to help them turn personal medical expenses into tax-free corporate deductions. Most people don’t realize they’re leaving thousands on the table every year. We should chat some time.”
It’s low-pressure, high-value, and tailored to their situation.
How to ask for Referrals (without feeling pushy)
Once you’ve helped one HNW client set up an HSA, ask:
“Other business owners need to know about this don’t they”?
After saying that just sit back and wait. Don’t be surprised when they say “I know a few people that would benefit from this” and than say, "Feel free to introduce them to me and I’ll take good care of them. I specialize in helping incorporated professionals optimize their compensation and tax planning.”
Better yet—connect with their accountant. Accountants love HSAs because they reduce corporate tax and make clients happy. Offer to walk them through the setup and show how it complements their work.
The Bigger Picture
HSAs aren’t just a tax tool—they’re a relationship tool. They give you a reason to start a conversation, deliver immediate value, and earn the right to go deeper into other advanced sales concept strategies.
Once you've proven your worth, you can introduce:
- Retirement income strategies
- Corporate class investments
- Individual Pension Plans
- Estate planning solutions
But it all starts with one simple question:
“Are you paying for medical expenses personally when you could be doing it through your corporation?”