In this week's edititon

CIRO is seeking feedback on the first stage of its effort to consolidate the rules for mutual fund dealers and investment dealers into a single tome. As James Langton reports, CIRO found various areas where there are significant differences between the investment dealer rules and the fund dealer rules. Meanwhile, iA Private Wealth is the latest dually registered investment firm under the new SRO.

In June 2022, Meghan Meger was appointed co-head of BMO Private Wealth Canada with Geoff Newton. She’s now occupying that post alone. The latest shakeup at BMO also saw Kevin Barnes named head of private wealth for North America. Last month, BMO Private Wealth Canada eliminated several roles as the brokerage consolidated its regions to four from six. Here are the other industry moves we reported on this week.

As financial advice becomes more mediated by technology, building trust with clients is more important than ever. One way of doing that, columnist Sam Sivarajan writes, is to understand how clients make decisions, regardless of whether those decisions are rational, emotional or instinctual. Here’s his article on how the “five brains” relate to financial advice. Over at our client portal, Advisor to Client, we have another behavioural column that clients might want to read about why less is more when it comes to investment decisions.

As baby boomers retire, many are thinking about how to transfer their wealth and businesses to their children — including whether to transfer the assets during their lifetime. Columnist Catherine Hung looks at the tax implications when parents sell a business to their children for less than fair market value.

A former regulator who informed many of the current debates around investor protection died this week. Glorianne Stromberg was an OSC commissioner in the 1990s when her two reports —  including a scathing review of the mutual fund industry known as the “Stromberg Report” — contributed greatly to how we think about fund governance and fees, and about standards for financial planners. Melissa Shin reports on Stromberg’s legacy, including a throwback interview from 1998 that appeared in the very first issue of Advisor’s Edge.