Budget 2024’s proposed increase in the capital gains inclusion rate to two-thirds from one-half has left many incorporated business owners wondering what to do with unrealized gains in their corporations. Like you, columnist Ben Felix, along with Dr. Mark Soth, is considering how to advise clients. They shared some insights this past week.

To Zoom or not to Zoom? The answer isn’t straightforward, based on the results of a survey of Canadian financial planners and clients. For example, a greater proportion of planners preferred in-person meetings for emotional topics. The poll also found that nearly one-third of clients said their planners didn’t ask about their preference for virtual or in-person meetings.

When the Ontario Securities Commission released its strategic plan, CEO Grant Vingoe said he remains concerned about the quality of advice provided to some investors, the proficiency of certain advisors and the narrowing of product selection, particularly at banks. As far as proprietary products, Vingoe said he expects progress in that area as the client-focused reforms evolve. Read more about the regulator’s goals for 2024 through 2030.

The proposed capital gains tax makes the principal residence exemption (PRE) more valuable — especially for Canadians who own more than one home. If your client plans to sell one of their homes, here are factors to consider in the context of claiming the PRE.

This past week I interviewed an advisor who phoned her client’s trusted contact person when she couldn’t reach the client. The experience didn’t go as she expected — you’ll get the details in an upcoming story — but it did prove to her how valuable trusted contacts are. What’s been your experience with clients and trusted contact persons? Do clients have difficulty naming someone? Has a trusted contact helped you serve a client you couldn’t reach? Let me know in an email.