Finding the best investment mix for clients is rightly top of mind, but equally important is shaping portfolios with a view to tax efficiency, says Ian Russell, president and CEO of IIAC.

Read: Clients should withdraw from RRSPs early

“[A]dvice that ensures client investments with different tax consequences are managed in a tax-efficient manner is critical to maximizing after-tax returns,” he says.

The good news is advisors have been doing a good job of using tax efficiency to help clients boost their bottom lines. “Ipsos Reid studies in 2010 and 2011 on the value of advice reported that households with a financial advisor are twice as likely as non-advised households to hold assets in tax-advantaged (registered) plans,” notes Russell.

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