Financial advisor value propositions

A discussion of how a financial advisor may add great value or perhaps none at all, depending on the subject in question.

Audio podcast – How You Pay Me Through A Service Fee

As I work towards creating a podcast to supplement client communications, below is a a short audio file that explains how you, my valued clients, pay me through an embedded service fee mechanism.  Please have a listen and of course just ask if you have any questions.

They think… I know

In my experience, my business philosophy is different from many financial advisors.  Imagine you are meeting an advisor for an initial interview. The discussion likely centers on what you think you want. You might do a questionnaire that is supposed to assess your willingness to deal with “risk”.  Eventually, the advisor tells you he can […]

You might have a really long investment time horizon

Many clients will know of my interest in life expectancy and its implications for retirement income planning.  For many years I have taught an adult education class titled “What If I Live To Be 100” and this helps keep me up to date on changes in this area. The November 2013 edition of The Atlantic […]

Disregard all short term forecasts and predictions

When they feel uncertain, investors often look to the investment media for insights into how to position their portfolios. While reading the work of these forecasters and prognosticators may seem to provide compelling evidence you should “do something”, they usually add no real value and are more likely to detract value. As an example of this, one study tracked the […]

While people need good advice, what they want is advice that sounds good

I came across a truly exceptional article today and thought it was well worth sharing some of the most important points made by the author and a few comments of my own. 1. “That’s because good advice rarely changes, while markets change constantly. The temptation to pander is almost irresistible. And while people need good […]

Income mobility in Canada

As a person who believes in the greatness of human abilities and is deeply aware of economics, production and wealth creation, I am often frustrated by social problems that I believe can easily be solved through economic freedom but which are prevented by the entrenched collectivism that has come to permeate much of our society. […]

More on RDSP’s

I have worked with Ottawa lawyer Ken Pope on cases where pecial planning is done for estates involving a disabled person. Ken is a specialist in this area and the following is reprinted from one of his newsletter, with his permission. The recent addition of the Registered Disability Savings Plan (RDSP) requires that any new […]

Reminder: 30% offset of Ontario tuition fees requires that you ask

“Money you don’t have to repay, designed for students entering a public college or university program from high school, or within four years of graduating from high school. You can apply for this program without applying for OSAP.” So says the website of the Ontario Ministry of Training, Colleges and Universities.  Last year in the […]

Managing retirement income with a fixed income wedge

Just as dollar cost averaging can work to help you build assets for retirement, it can also work against you when you need to be spending your assets during retirement.  In retirement your goal is no longer purely long-term, but also includes an element of short-term spending.  Just as your time horizon is the most important […]

Registered Disability Savings Plans (RDSPs)

Mackenzie Financial is part of one of Canada’s largest companies and is one of the few institutions that has launched a RDSP.  Administering this type of plan is relatively expensive, requires significant systems programming and since these plans are only a few years old, they are almost all small accounts. They have produced a helpful RDSP […]