Tax

Withdrawal strategies

Here is a situation that could be described as a financial advisor’s dream. An advisor has been referred a well-to-do retired couple who are seeking a second opinion on their finances. Their main goal, naturally, is to generate enough income to keep them in the style to which they have become accustomed. But, they also […]

By Michelle Munro |July 29, 2010

6 min read

Tax News

Reporting confidential tax deals

There was no mention of it in the Federal Budget Speech, but there is a very important proposal in the Budget Plan that could have serious implications for wealth advisors, particularly those involved in sophisticated tax planning. It has to do with requiring the reporting of certain tax avoidance transactions that fall outside existing tax […]

June 29, 2010

4 min read

Industry

Retirement crisis overblown: Hamilton

Despite dire warnings in the press that Canada’s pension plans are set to implode, one of the country’s most respected actuaries says the problem isn’t really that bad. In fact, Canadians are in an enviable position compared to most other countries. “It’s a truth universally acknowledged that Canada has one of the best retirement systems […]

By Steven Lamb |January 12, 2010

5 min read

Tax News

Claiming charity contributions

If your clients are generous givers and happened write a cheque or donate in cash or kind to their favourite cause or charity in 2009, make sure you remind them to save the receipts as you could help them reduce income taxes when you file their tax returns. Here are some strategies that make both […]

By Ann Galvin |January 1, 2010

3 min read

How to really resonate with clients

Keep asking good questions that help your client move out of crystallized-thinking mode and into emotional contemplation. Position yourself as a right-brain advisor who uses left-brain tools to accomplish the client’s goals. For example, “I am a coach, an educator and a catalyst for my clients,” rather than “I am an investment advisor, an insurance […]

5 min read

Out of these markets—opportunities for a ‘new’ kind of advisor

In the small city where I live, a major Canadian investment firm has opened a new office. The full-page ad in our local paper focuses on the experience of the two new “wealth advisors” at the firm and their willingness to provide a review of your portfolio. “If you are not happy with the returns […]

5 min read

BoC rate cuts hint at deepening crisis

Against a backdrop of fears that the economic crisis could deepen, the Bank of Canada did what banks around the world continue to do — cut rates. Canada’s overnight rate now stands at 1%, prompting many analysts to ask, How low can rates go, and how long will they last? In its brief reasoning for […]

By Mark Noble |January 20, 2009

5 min read

Supreme Court Lipson decision due out tomorrow

On Thursday morning the Supreme Court of Canada will release its long-awaited and much anticipated decision in Jordan B. Lipson, Earl Lipson v. The Queen. Jamie Golombek, now managing director of tax and estate planning at CIBC Private Wealth Management, has been covering this issue for the Advisor Group since the Tax Court of Canada […]

2 min read

Indulgent incentives

Our agency recently won two contests, separately held by two large insurance companies. Both awards, based on productivity levels, included lavish holidays or conference trips worth thousands of dollars. Unfortunately, because of time constraints, we were unable to take advantage of either. One of the insurance companies, understanding the reason we couldn’t attend, uncharacteristically doled […]

3 min read