It’s a common story: as a client enters their retirement years and prepares to decumulate their assets, they downsize to one advisor. “Income management is easier when it’s centralized,” says Philip Marion, CIM®, managing director and portfolio manager at Foster & Associates Financial Services Inc. in Toronto. What can advisors do to retain such clients? Many have come to expect a family office style of service with experts specializing in wealth management, estate planning, tax advice and philanthropic guidance. “That’s what an advisor can make a case for: everything is together,” Mr. Marion says. “You need to have that model.” Anna Sharratt reports.
Globe Advisor
Media Production
Toronto, Ontario 2,637 followers
The Globe and Mail brings you financial tools, in-depth analysis and advice to help you grow your clients' portfolios.
About us
Globe Advisor brings you expert financial tools, in-depth analysis and advice to help you grow your clients’ portfolios. A section produced by The Globe and Mail, a Canadian national media organization.
- Website
-
https://www.theglobeandmail.com/investing/globe-advisor/
External link for Globe Advisor
- Industry
- Media Production
- Company size
- 501-1,000 employees
- Headquarters
- Toronto, Ontario
- Type
- Privately Held
Locations
-
Primary
351 King St E
Toronto, Ontario M5A, CA
Updates
-
Advisors may be a logical choice to serve as a client’s executor or power of attorney, but doing so creates a major conflict of interest – and regulators are taking notice. A recent case underscores how important it is for advisors to steer clear of taking on such roles for clients. And if it happens without the advisor’s knowledge, they should inform their supervisor and compliance team as soon as they find out. “It’s a clear conflict of interest,” says Ellen Bessner BCOMM, LLB, ICD.D, partner at Babin Bessner Spry LLP in Toronto. “If they’re able to be the power of attorney and the executor as well as the advisor … they have access to the client’s money and full authority to do what they want, with no checks and balances.” Alison MacAlpine reports.
Why advisors must avoid taking on these forbidden roles for clients
theglobeandmail.com
-
Advisors can add value for clients and their heirs by using insurance strategies to keep wealth in a family. That has become even more important after the recent hike to the capital gains inclusion rate. The move has refocused attention on efficient means to limit tax obligations on major transactions, including wealth transfers as part of estates. “Tax-free cash is much more valuable now,” says Kathryn Del Greco, senior investment advisor with Del Greco Wealth Management at TD Wealth Private Investment Advice in Toronto. Jamie Sturgeon reports.
How life insurance can make for more tax-efficient intergenerational wealth transfers
theglobeandmail.com
-
The work-from-home phenomenon that began during the COVID-19 pandemic meant that white-collar workers, en masse, went from being commuters to remote workers almost overnight. Investors and fund companies saw an opportunity. But the shine on that investment strategy is fading as the pandemic recedes and more employers mandate returns to the office. Thematic ETFs are designed to tell a story, which makes them “hot sellers,” says Ian Tam, CFA, an investment specialist with Morningstar. “But performance has been lacklustre.” Gillian Livingston reports.
Work-from-home ETFs latest thematic funds to face reckoning
theglobeandmail.com
-
Many investors are cheering the recent market run-up, but for money manager Jason Del Vicario CFA, it has resulted in fewer opportunities to find stocks he considers worth buying. “Of course, we’re happy our client portfolios are up, but I can count on one hand the type of companies that we like available at attractive prices,” says the portfolio manager with Hillside Wealth Management at iA Private Wealth in Vancouver, who oversees about $240-million in assets. He spoke with Brenda Bouw about what he’s buying and selling.
Why this money manager owns Couche-Tard and a ‘super app’ stock based in Kazakhstan
theglobeandmail.com
-
Cathie Wood’s US$6.2-billion ARK Innovation ETF became famous for its 2020 pandemic surge, ending that year with a 153-per-cent gain. Markets have been less kind to ARK Investment Management LLC’s flagship fund since. After getting hammered amid inflation and high interest rates, the fund rebounded emphatically last year but is down about 12 per cent so far in 2024. Ms. Wood, who was in Toronto this week, spoke with Globe Advisor about selling Nvidia, concentration risk in broad indexes, and why she’s sticking with Tesla.
Cathie Wood of ARK talks about prospects for Tesla, Nvidia and underappreciated robots
theglobeandmail.com
-
In the aftermath of the Covid-19 pandemic, Karen Sawyer, 61, and her husband reassessed their priorities and decided to retire. Before doing so, Ms. Sawyer, who lives in Mississauga, worried about being bored when she stopped working or maybe even slipping into depression. To avoid that, she researched retirement ahead of time to learn from others’ experiences. “One thing that stuck with me was the question, ‘What do you want your legacy to be?’” She spoke with Brenda Bouw about volunteering, supporting her kids with housing costs, and why she’s having the time of her life as a retiree.
Retirement can be ‘the time of your life’ this former bank employee says
theglobeandmail.com
-
Rising demand for water amid growing shortages is leading to more investment opportunities in what is often dubbed “blue gold.” Although there are few pure plays among water-related securities, investors can gain exposure to this commodity through stocks in different sectors, ETFs and bonds. “Competition for water will grow more intense, whether it’s from population growth, industrialization, or digitization in manufacturing semiconductors or cooling artificial intelligence data centres,” says Vishal Y. Bané, CFA, MSc, portfolio manager with Toronto-based AGF Investments. Shirley Won reports.
Blue gold: How funds are investing in water scarcity
theglobeandmail.com
-
Legislative changes to how family businesses are passed to the next generation clear up some ambiguity in tax law, but may also complicate transfers and cost the parties involved more money, experts say. In June, Parliament passed Bill C-59, which included changes to how businesses, fisheries and farms are transferred within families. “On one hand, we have this newer, more detailed set of rules that will give us some certainty on how to proceed,” says Clara Pham, tax partner at RSM Canada and leader of its national tax centre. “But yes, because it’s more detailed, it’s more complex.” Here’s what advisors need to know.
How new intergenerational business transfer rules affect family planning
theglobeandmail.com
-
Some clients want to have their cake and eat it too. A relatively new type of investment product is trying to offer just that. Defined outcome exchange-traded funds (ETFs) come in different strategies, but the most popular cap upside equity exposure and offer downside protection over a set period. “These tend to be used as part of a portfolio to give a bit more of a conservative slant,” says Sara Petrcich, head of ETF and structured solutions at BMO Global Asset Management. But can the same risk-adjusted returns be achieved in other ways? Joel Schlesinger reports.
ETFs with defined outcomes offer downside protection but uptake has been slow
theglobeandmail.com