As baby boomers begin to retire, look for more product innovations that combine investments with insurance and offer similar benefits to a defined benefit pension plan. While that may describe the standard annuity or segregated fund, York University associate professor of finance Moshe Milevsky says those products are only the beginning. “These are products that […]
(May 2006) When I meet advisors for the first time, I’ll often ask them why they became advisors. The most engaging ones tend to see advising as a calling, helping others achieve a financial well-being (or some variation on that theme). So when the conversation turns to their dealer, advisors fall into one of two […]
(April 2006) My bank has been phoning me a lot lately. And every time they call, panic automatically sets in: Have I been the victim of identity theft? But as it turns out, they’re always just thrilled to offer me “an extraordinary new service only available to select accounts.” You can imagine how privileged I […]
(March 2006) I’m definitely one consumer who wants high-quality product and service for the lowest possible price. But if I see added value in your services, I won’t hesitate to pay up and shut up. Case in point: my fiancé and I are currently paying an interior designer to revamp our kitchen. The fees aren’t […]
Advisor’s Edge and Advisor.ca have named Doug Macdonald, managing director and president of Vancouver-based Macdonald, Shymko & Company (MSC), as this year’s recipient of their Career Achievement Award. The Career Achievement Award recognizes individuals who raised the professional standards of financial advice giving, reflected the best interests of consumers seeking financial advice and demonstrated leadership […]
(February, 2006) Much of the industry has embraced the CFP designation, but there’s still room for improvement. The Financial Planners Standards Council (FPSC) has come a long way from being known as “just two people and a fax machine.” The organization recently celebrated its 10th anniversary and with that milestone, FPSC president Donald Johnston has […]
(January, 2006) Over the years, the advice industry has moved upmarket. I remember a time when all you needed was $25,000 in investable assets to get started with a reputable advisor. Now, many advisors (especially at brokerage houses) have account minimums. The lowest figure I’ve personally heard is somewhere in the neighbourhood of $150,000. One […]
(December 2005) A woman named Debbie contacted me recently after looking me up on the web (this is sometimes called “googling,” after the popular search engine). She inquired whether I was the same Deanne Gage who grew up in Nova Scotia with her parents, sister and cousin. It was, in fact, me and Debbie turned […]
Allow me to introduce myself: For the past six years at Advisor’s Edge, I’ve worked behind the scenes with my editorial team to produce content that helps you build your business. Now that I’m in the editor’s chair, I thought it would be a useful exercise to reflect on what I’ve learned from you and […]
(June 17, 2003) Buying a book of business isn’t for the faint of heart. Done properly, it’s a process that could take months to complete, notes Robert O’Connor, an independent management consultant based in Vancouver. “I know someone who took up to a year to sell his practice to another advisor,” he told attendees at […]