Practice

Advising the ultra rich

Throughout my career as an advisor I’ve been fortunate to work with many high-net-worth prospects and clients. Affluent business people, professionals and families are an interesting and challenging breed. They have incredible drive and are confident and demanding of both themselves and their advisors. They can differ, however, in how they relate to advisors and […]

April 7, 2010

3 min read

Estate Planning

Step-by-step selling

It's in the advisor’s interest to provide assistance should an entrepreneur consider selling their business

By Mark Groulx |April 1, 2010

5 min read

Planning and Advice

Applause for Steadyhand

Many people have approached me in the past suggesting that I am unduly critical of active products and strategies. Perhaps not too surprisingly, I counter that perhaps it is THEY who are unduly critical of passive products and strategies. I wouldn’t mind active strategies at all if they were as cheap, pure, broadly diversified and […]

By John J. De Goey |April 1, 2010

3 min read

Industry

EMDs must protect the process

For many exempt market dealers (EMDs), especially those never registered before, there are a host of unfamiliar obligations that must be met, many of which are straightforward and administrative in nature (in many cases, third-party service providers offer cost-effective means of addressing many of these tasks). Other tasks and obligations, such as suitability assessment and […]

By Richard E. Austin |April 1, 2010

3 min read

Defining fiduciary duty

A recent meeting of industry minds at York University explored the idea of imposing a fiduciary duty upon financial advisors. Noting many other professions, including doctors and lawyers, require that standard, the gathering was meant to get the attention of regulators and lead to creation of commensurate rules. According to one advisor in attendance, the […]

3 min read

Bull markets ruin good planning

A client of mine sells security systems. Whenever he has potential customers call him about buying a home alarm, he asks them when they were robbed. He knows most people take home security seriously after they’ve had a break-in. Human nature is like that. We only prepare for risks after they’ve hit close to home. […]

4 min read

Hitting the HNW jackpot

Every now and then I’ll buy a lottery ticket and dream of winning millions. If I had $10 million, I’d hang out in my house on the Riviera, drive into town in my hot Italian car to pick up some wine and cheese… wait, I’d have a hot Italian butler do that for me. It’s […]

6 min read

Planning not portfolios should come first

When she started in the profession in 1981, a securities licence wasn’t in Kathleen Clough’s sights. The PWL Capital wealth manager, who counts a CFP and RFP among her designations, originally went to work for a firm that did high-level financial planning for senior executives. And, until seven years ago, she focused solely on non-transactional […]

3 min read

Making the Switch to IIROC

When Matthew Paradis wanted to expand his business last year, there was only one option he and his partner considered – join an IIROC dealer and leave their MFDA days behind. The Orleans, Ont.-based advisor, who’s been working with mutual funds for six years, said the decision to switch self-regulatory organizations was an easy one. […]

8 min read

Charting a course to IIROC

Reams of paper. Thousands of “sign here” stickies. A fully stocked drawer of pens. A generous supply of office supplies isn’t all you’ll need to make the switch from the Mutual Fund Dealers Association of Canada (MFDA) platform to the Investment Industry Regulatory Organization of Canada (IIROC) platform. But it is absolutely essential. Advisors who’ve […]

10 min read