The Canada Revenue Agency has been expanding its focus on high-net-worth taxpayers in recent years. The number of groups identified in its global high-wealth population has climbed past 2,500. That’s more than twice what it was five years ago.

What does independent mean, asks John De Goey in a lively op-ed. “If different firms can use ‘independent’ to mean different things, then consumers are at risk of being misled. They may think they are working with one definition, while a firm is using another.” Meanwhile, the self-regulatory organization does little to provide consistency and clarity, he writes.

Columnist Akua Carmichael has three recommendations for helping clients steer clear of resulting trust conflicts. Document, communicate and make sure they’ve been clear with you about their intention to gift. “The determination of ownership of assets in these situations continues to be litigated in families,” she writes.

The variable life benefit (VLB) is a new pension option that the Ontario pension regulator is consulting on. It would allow plan members to opt for a lifetime monthly benefit based on the VLB fund’s rate of return and the mortality experience of the VLB fund members. “Plan administrators would retain fiduciary responsibility for the VLB, which includes the requirement to adjust benefits to reflect investment returns and mortality experience,” according to a paper by the province.