All advisors know tax strategies can mean the difference between so-so and stellar financial planning. But does the average advisor really understand every tax particular? Tax expert Jamie Golombek recently surprised a group of financial planners with a pop quiz to find out. Here’s a sample question: A capital loss is carried back from 2008 […]
Women in financial services may have come a long way but not far enough. Despite small gains in the banking industry, women in capital markets have made virtually no progress in the last eight years, according to a new study released Monday. The study, called Catalyst’s Report to Women in Capital Markets, found 39% of […]
If advisors think the timing’s all wrong to transition from a commission practice to charging fees, they should reconsider, according to a panel of advisors who have made the leap. “It will only hurt more once you grow accustomed to a lifestyle associated with a certain revenue stream,” says John De Goey, vice-president with Toronto-based […]
Advisors have two daunting objectives in this economic downturn: to keep clients invested — and to stay invested with them. Unfortunately, even before September 2008, a shift in investor psyche had been taking place, according to industry consultant Dan Richards, president of Toronto-based Strategic Imperatives. “Twenty years ago, [the mood] was ‘I’ll stay unless you […]
A known truth about recessions: they eventually do end. But the question is, where will advisors be situated when this particular downturn is over? Will they have used the downturn to their advantage or will they become victims, forced to take down their shingles? These questions were posed to the 300 advisors attending the Canadian […]
The paths women take to success in the advisory business are as diverse as the individuals themselves. Striking the right balance between work and family life is hard, but not impossible. The women we spoke with consistently praised the flexibility of the financial industry—noting its client-centric nature lets them break free of rigid working hours, […]
The ups and downs of the markets over the last two years haven’t greatly impacted socially responsible investments, according to a study released today by the Social Investment Organization (SIO). In fact, the study, called the Canadian Socially Responsible Investment Review, found that SRI assets increased 21% to $609 billion from 2006 to 2008. “Socially […]
Income planning has long been regarded as the dull cousin of accumulation. The ups and downs of the markets are always the talk of mainstream media, while people scratch their heads when the discussion changes to GICs or annuities. “Income planning is just not something that has captured the imagination of the public,” explains Michael […]
I recently celebrated my 10th anniversary here at Advisor Group and, with that, reflected and reminisced with colleagues about the past decade. More has changed than not. But here’s one thing that hasn’t: when I attend industry conferences, I can still count on two hands the number of women advisors in the audience. Yes, this […]
A household balance sheet opens up a lot of discussion points. The economy and credit crisis have affected nearly every client. Maybe they haven’t lost their jobs but their salaries have likely been frozen at 2008 levels. Executive bonuses have been reduced — if not cut altogether — and stock options have dried up. Meanwhile, […]