In this week's edition

One challenge with succession planning is that younger advisors can’t afford to buy large books of business. Allowing younger advisors to buy in to a firm creates opportunity for owners to sell their equity and also helps align the firm’s interest with advisors’ interests. Reporter Jonathan Got spoke to three firms each with a different approach to passing on equity to the next generation of advisors.

Uncertainty about interest rates, as well as the potential for higher rates for longer, may have investors reconsidering fixed income. Four industry professionals weighed in with their perspectives on the asset class given the current economic climate.

Winning over millennials is a winning business strategy: These clients are reaching their prime earning years and are also in a position to benefit from a significant generational wealth transfer. How do you attract these clients? Go where millennials are and engage with them on their terms, sources suggested this week.

In an opinion piece this week, an advisor argued that product ratings should take market circumstances into account, given that risk is dynamic. Regardless of the practicalities of implementing the idea, there’s no denying that “investors and advisors alike have been slowly taking on more risk as multiples expand while product ratings remain unchanged.”

Canadians are 18 times overweight their domestic holdings, based on a recent Vanguard report — up from 15 times last year. Home bias comes with risks, including sector concentration, greater volatility and less efficiency with  investments. You can sidestep those risks with a reasonable allocation to domestic equities, based on research. The story also covers recent industry developments that could influence home bias.

Of course, a little home bias might be just the ticket this holiday weekend — enjoy your Canada Day.