When the credit crisis swelled a year ago, the first phrase on a lot of clients’ lips was, “What will this mean for my retirement?” A year later, investors have reached something resembling acceptance, with many advisors being told clients plan to remain in the workforce an extra year or two, or will be adjust […]
It’s different for every client. Respondents at our 2009 Dollars & Sense roundtable discussion say client response to investment products is all over the map, although there’s still some favour shown to capital preservation – at least for now. “Some of the senior clients are looking for security and capital preservation,” says Eva Froese, PFP, […]
A class-action lawsuit against mutual fund companies over market timing activity could stir the pot of investor angst at an inopportune time for advisors. The class, which is seeking certification this week, alleges the companies lapsed on their fiduciary duties to less sophisticated investors by allowing more experienced players to time purchases and sales to […]
In these Final Words, we feature some of the verbatim responses from our 2009 survey in which advisors talk about what it takes to explain compensation to clients, what topics the people they face across a desk every day are bringing up, and what they’re doing to prepare people for the transition into retirement. Compensation […]
Five industry veterans weigh in on how their roles have evolved over time. Our first CIFPS roundtable participants were: Keith Costello, president and CEO of the Canadian Institute of Financial Planners Tony Mahabir, financial advisor, Canfin Financial Group Naguib S. Kerba, branch manager, Investment Planning Counsel Janet Freedman, president, Finance Matters Ltd. William D. Jack, […]
Participants at this year’s Dollars & Sense roundtable discussion say data from the investor survey contains clues to how advisors can better convey their value propositions to clients. The fact investors ranked “A periodic/annual review of my plans or accounts” as their primary need from an advisor indicates too much focus is being put on […]
Often, if a client doesn’t bring up debt issues with an advisor, it’s hard to provide much help. Further, a large percentage of clients who are in significant debt are younger folks, aged 20-to-35, who aren’t getting a lot of attention from advisors because they have little in the way of assets. But those demographics […]
What will help advisors do their jobs better? According to participants in our 2009 Dollars & Sense roundtable, some good places to start would be simpler, preferably sales-friendly, disclosure documents; some tools to help convey value and prevent clients from rushing to the lowest-cost options; and a well-defined product shelf that doesn’t overwhelm their clients. […]
Of all the things this industry remembers about these past 16 months, one thing should stand out: Great advisors took the opportunity to demonstrate value to their clients. Through our Celebrating Advice initiative, we’ve heard amazing stories from advisors who went the extra mile to help clients feel comfortable with the state of their investments, […]
Montreal — If independent advisory firms ever wondered how they’d survive in the face of integrated financial products, they got their answer over this past year. That was the message PEAK Financial Group president Robert Frances delivered to his advisors at the firm’s 13th annual conference in Montreal. “What you’ve proven in surviving this is […]