Practice

Protecting your name

(March 2008) Identity theft. It is a crime about information and in the information age, identity theft is becoming the fastest growing form of consumer fraud in North America. The crime is identified when a person assumes another individual’s identity using personal information (eg: name, date of birth, address, credit card, social insurance number and […]

By Romana King |February 28, 2008

4 min read

Planning and Advice

To Clients/Prospects: The 2008 Federal Budget and Your Financial Plan

(February 2008) Show clients what a proactive advisor you are. Send them this customizable letter about the Federal Budget. Dear [Client/Prospect name], As you know, Finance Minister Jim Flaherty delivered his third federal budget on Tuesday in Ottawa. This budget has many items that could affect your financial plan and present additional savings and investment […]

By Staff |February 26, 2008

2 min read

Planning and Advice

To incorporate or not?

(February 2008) The long-standing debate on whether registered salespersons should be permitted to incorporate has been recently recharged. In October 2007, the Manitoba Securities Commission exempted Canadian corporations from the dealer registration requirement under the Manitoba Securities Act solely to allow them to receive commissions and fees from dealers, provided certain conditions are met. To […]

By Rebecca Cowdery, Prema Thiele |February 22, 2008

5 min read

Planning and Advice

Caught by the calendar

(February 2008) The federal Home Buyers’ Plan (HBP) allows a first-time home buyer, along with his or her spouse or common law partner, to withdraw up to $20,000 each from a Registered Retirement Savings Plan to purchase a first home. Under the plan, the RRSP must be repaid over a 15-year period, beginning with the […]

February 22, 2008

3 min read

A novel approach

(February 2008) In an attempt to gain (or at least retain) market share, some mutual fund companies have taken to increasing the trailing commissions paid to advisors once DSC schedules near expiration. The idea is that since MERs are unchanging, why not pay out higher amounts to advisors once the high cost of the up-front […]

By John De Goey |February 22, 2008

3 min read

Practice Lab: Retaining clients in volatile times

(February 2008) How have things been going for your business given the ongoing market volatility? If you’re like the financial advisors we coach, then the up- and downswings have likely made your job even busier. But rest assured you can turn the turbulent situation into opportunities. Here are some great, advisor-tested ideas. 1. Hold a […]

4 min read

Hear, touch, see: How to get your client’s attention

(February 2008) Just about everyone has heard of Dale Carnegie — the author made famous for teaching people around the world How to Win Friends and Influence People (his 1937 bestselling book). In his book, and through subsequent independent observations and research, Carnegie points out that 85% of job success comes from a person’s personality […]

By Romana King |February 8, 2008

4 min read

Good referrals and bad manners

(February 2008) Everyone knows the best way to build a business is through referrals. Referrals can come from many sources — friends, centres of influence and even the clients themselves. But are you properly thanking the source of your referrals? If the source is a client, definitely. But what about referrals from other advisors? One […]

By Deanne Gage |January 31, 2008

3 min read

Watch your language

(January 2008) An elderly couple entered their advisor’s office for their annual financial check-up. Although they were a little concerned that their portfolio was down slightly from the same time last year, they kept reminding themselves they are retired and allowed to withdraw money for trips and the odd “big ticket” purchase. They were also […]

By Shawn O'Brien |January 23, 2008

5 min read