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How often should financial planning be done to be most effective?
Financial plan updates “tend to have different personalities” as clients age and their priorities shift, but there isn’t an age or life stage at which they need less frequent updates, says an advisor.
How advisors are managing clients with limited time and resources
Many companies are turning to technology such as customer relationship software to help manage growing client volume, but some say they aren’t always the best option for managing relationships.
What to do if that financial plan you paid thousands for disappoints
The rise of financial planning done transparently for a flat or hourly fee is one of the most positive developments in the world of money over the past decade. But providing financial plans is a service like accounting or providing legal advice, and sometimes the customer isn’t satisfied with what they get for the $1,500 to $5,000 cost of a plan. What then?
Why you may need to change your executor as you get older, soaring inflation might not be as worrisome as retirees may think and the pros and cons of joint accounts
Most Canadians eventually get around to estate planning and putting their financial affairs in order – even if that often occurs later in life than it should.
The psychological toll of a red-hot housing market
The homebuying process today is overwhelming, exhausting, and in some cases, plain heart-breaking. As many homebuyers’ down payment savings grow, so too do home prices, which can feel like one step forward and two steps back.
I’m getting close to retirement. What changes should I make to my portfolio to get ready?
Before you hit retirement, make sure you have enough funds in low-volatility investments, such as government bonds and GICs, says certified financial planner Rona Birenbaum.
Can financial planners adjust to parents giving kids their inheritance early to buy homes?
Early inheritances and familial gifts are now making up a growing part of Canadian first- time homebuyers’ down payments, as parents dip into their savings and assets to help adult children get into an increasingly out-of-reach housing market. And that is showing up in financial planners’ offices across the country, prompting a shift in how they advise their clients.
The pros and cons of buying life insurance when you’re older, which portfolio assets you should spend first in retirement and some advice on converting an RRSP
Life insurance isn’t usually top of mind for Canadian retirees focused on generating income from their investment portfolios. Yet certain types of life insurance can play an important role in the lives of older Canadians.
Here’s the income you need to afford rent in major Canadian cities
With the average home price in Canada hitting a record $748,450 in January, Canadians in many parts of the country may find the math of buying versus renting makes for a compelling argument in favour of renting. But another part of the renting equation is likely stumping a growing share of tenants: the comparison between market rents and their own incomes.
How advisors are helping pandemic-era entrepreneurs navigate their new financial realities
About two million Canadians started businesses since the start of the pandemic, according to a report Intuit Quickbooks Canada released last year, and that number has surely grown since then. Yet, many of these new entrepreneurs who are meeting with their financial advisors for help on how to navigate their newfound ventures have little past business experience.