Farming has always required foresight. Today’s agriculture risks go beyond the fields to the markets, supply chains, evolving tax laws, trade disputes, input costs, parts delays and shifting policy. Any one of these things can throw a season off course.
So how do producers stay ahead of a moving target, manage a sustainable business, reach their financial goals and pass the farm on to the next generation with confidence?
Short-term smart, long-term strong
Riley Sittler, Portfolio Manager with MKTS Wealth Partners, iA Private Wealth, says one of the greatest challenges for farmers is managing the unpredictability of cash flows.
In any given year, weather, market conditions and unforeseen expenses can affect short-term liquidity needs and long-term priorities. That’s why Sittler says that well-structured financial plans are essential for running a farm, and that the plans should align short, medium and long-term assets with corresponding obligations, especially when markets are unpredictable.
“Farming in Canada has always taken grit, but today it also takes strategy,” says Sittler. “Flexibility is the difference between weathering the storm and being swept away. When we saw the trade war coming in early 2025, we moved fast and exited most U.S. positions ahead of the curve. When markets bottomed, we were ready. That pivot helped our clients grow their assets through the volatility, not just survive it.”
Sittler says an advisor with knowledge of both capital markets and the agriculture sector knows when to keep capital close, and when to let it grow. That balance is key to securing today’s farm business needs and tomorrow’s legacy.
This approach to wealth management and investments must strike the right balance between holding liquid investments, such as GICs or short-term bonds, and long-term investments, including private debt and equities.
Pass it on the right way: retirement and succession planning
A proactive approach is just as important when it comes to retirement and succession planning, Sittler says.
For many producers, significant assets can be tied up in farmland and equipment, making it difficult to step away without affecting operations. The right planning can make it possible to build retirement savings while preparing the farm for a smooth handoff.
Sittler notes there are many effective strategies to plan for retirement, from setting aside surplus earnings in separate investment vehicles to structuring the business to reduce tax liabilities through exemptions and deductions.
It’s critical to note, he says, succession isn’t a single moment but a process, and a complex one at that. Changing tax rules around intergenerational transfers have made it even more critical to get it right.
“The most effective succession plans begin early, ideally five years before the transition starts,” Sittler says. “This gives time to implement tax-efficient structures, set clear expectations between family members and avoid rushed decisions driven by external pressures or unexpected events.”
Succession often takes a back seat to day-to-day farm demands, he notes, but without a clear plan, transitions can become rushed and expensive.
Sittler says this is where advisors can play a pivotal role in keeping families on track with long-term goals and guiding them through challenging situations. By understanding retirement needs, family dynamics and the unique circumstances of businesses, advisors help build succession plans that reduce taxes, reflect the family’s goals and ensure a smooth transition.
“Between the macroeconomic landscape and family dynamics, change is often the only constant,” Sittler says. “Our job isn’t to guess the future, it’s to build plans that work no matter what the future brings. With flexible plans and clear scenarios, we help clients stay ready for whatever comes next.”
Choosing an advisor who is a partner
Not every advisor understands what it means to run a farm, says Sittler. Those who do bring more to the table than just investment advice. They are partners through every season of the business and help with everything from cash flow and retirement to succession and legacy planning.
“That’s exactly what the team at MKTS Wealth Partners is known for,” Sittler says. “With over 80 years of combined experience and a client base rooted in agriculture, we’ve helped farm families preserve what they’ve built and grow it with purpose so they can pass it on with confidence.”
“At the end of the day,” he says, “financial planning is a lot like farming. You can’t control the markets any more than you can control the weather, but what you do today determines what you will harvest tomorrow.”
At MKTS Wealth Partners, we’re committed to guiding you through every stage of your financial journey. Connect with us today at info@mktswealth.ca to learn how our team can provide customized solutions that support your financial goals and aspirations.
