6,000 clients were inadvertently charged $2.35 million in excess fees, a settlement agreement says
An Investment Industry Regulatory Organization of Canada (IIROC) panel in Vancouver has fined Toronto-based Raymond James Ltd. $125,000 for compliance failings related to overcharging more than 6,000 clients.
Financial and economic indicators answer the question
The majority of Canadian chief financial officers, 86%, say the economy will enter a recession by the end of 2019, finds a Duke University/CFO Global Business Outlook. For U.S. CFOs, that figure is nearly half.
The primary mistake that non-advised clients make is to drastically change their investment portfolio during market turbulence, advisors say
An advisor should have the ability to refocus a client during market turbulence to make sure that they are not reacting emotionally, but remain focused on their financial plan, says Bev Evans, portfolio manager at Evans Wealth Management Team, Richardson GMP Ltd., in Mississauga.
Now that we are nearing year end, it’s a good time to review your finances. 2018 saw a number of major changes to tax legislation come in force and more will apply in 2019, therefore you should consider available opportunities and planning strategies prior to year-end.
Being overweight domestic equities can be a problem
With TSX returns down more than 7% so far this year, now is a good time to remind clients to venture beyond Canada when investing—and there are several other convincing reasons to do so.
Find out which planholders are affected
Both Canada and the U.S. allow investors to create tax-advantaged savings plans. Unfortunately, neither country recognizes the tax-preferred status of the other country’s plan. When a client holding one of these accounts moves across the border, complications arise.
Canada’s average retirement age has been increasing for more than a generation
Canadians are living longer, but that doesn’t necessarily mean they need to save more because they’re spending more years in retirement.
The domestic, U.S. and global economy are in good standing, despite hurdles
Heading into 2019 and beyond, the world economy is in good shape, the U.S. isn’t headed for recession, and emerging markets—including China—are ready to face headwinds from U.S. President Donald Trump’s continuing trade war.
CRA gives guidance on seg funds held in registered plans
On Oct. 1, the Canada Revenue Agency (CRA) released its much-anticipated income tax folio explaining how the tax advantage rules will apply to RRSPs, RESPs, RRIFs, RDSPs and TFSAs.
Common disputes and how executors can avoid them
The “passing of accounts” is the process whereby estate beneficiaries and the probate court review and approve the executor’s management of the estate. How should executors prepare?