Advisors who truly want to offer a new value proposition and build strong, inter-generational, multi-advisory relationships throughout personal and financial lifecycles, will want to use a new approach: Real Wealth Management.
Pre-requisites: Designed as continued professional development for people with the following qualifications:
- Grade 12 or equivalent level education and
- existing employment or entrepreneurship within the tax, accounting, bookkeeping or financial services or
- existing designation, certification, or license in the industry sector and/or
- at least three years’ experience in the industry sector for entry to the designation program
RWM - Real Wealth Management Specialist:
A co-ordinated approach to wealth management is lacking between all the financial intermediaries – financial, legal and tax advisors - serving investors. There are also new best interest duties required by regulators in the financial services. Most important, your future clients want to work with advisors who re ready to develop a common strategy for inter-family, inter-advisory collaboration that will stand the test of time despite rapid technological, regulatory and tax change.
Master Financial Advisor:
This course of study, consisting of 6 courses, leads to an MFA™ (Master Financial Advisor) designation and is intended for tax or financial professionals who are looking for a way to expand their practice with targeted training in topics important to client servicing and retention today: tax efficiency, investment planning and the lifecycle of Real Wealth Management – encompassing a holistic view of the client’s need for accumulation, growth, preservation and transition of wealth over time. Financial advisors who go on to become specialists make it their professional responsibility to stay current on new tax laws and economic changes. Do all 6 in the summer months, or space out your studies to do a course every 3 months.
The Canadian Association of Gift Planners (CAGP), Knowledge Bureau and Spire Philanthropy are pleased to announce their collaboration to introduce a new professional designation for the financial services sector. The MFA™ Philanthropy designation will denote specialized professional credentials to develop plans for individuals and families interested in strategic philanthropy. The flexible program features personal instructional support and includes all materials to complete the course and testing requirements. Group study sessions may also be arranged.
There has never been a more important time to provide specific and highly qualified business tax knowledge to your clients. New and complex tax rules relating to income splitting and investment strategies for private family businesses are complex and potentially very expensive. Your small business client has most certainly acquired new tax audit risk.
The baby boomer demographic is retiring and they have lots of financial issues that a highly qualified retirement a succession services specialist can answer: all generations in the family are having difficulty saving adequate money in an emerging high interest, high tax, high inflation environment.
The numbers tell the story: The “Gig Economy” is here to stay: there are just over a million employer businesses in Canada, and of these 97.9% are small businesses. In fact, Finance Canada tells us that our economy is undergoing significant economic structural changes, away from a goods-producing to a services environment. That brings new opportunities to a qualified Business Growth Specialist.
Distinguished Financial Advisor - Specialist:
Be a trusted contributor to a multi-stakeholder approach in family wealth management, offering high value advice on the best after-tax outcomes for multiple generations in a taxpayer’s family. This is especially important at times of great change: when lifecycle events occur (marriage, births, divorce, illness and death) or during important financial events, for example, when employees become proprietors, during pre-retirement or at end of life, with the filing of final personal, GRE (Graduated Rate Estates) and other trust returns. Each course takes approximately 30 hours to complete and your study plan can be completely custom-designed to meet your schedule.
Many of your clients may bemoan the fact that there are just too many generalists and analysis of systems or processes. What they really need, is broad and precise tax knowledge from highly trained specialists who make sure their taxes are filed to their family’s very best advantage. They want their tax pro to really dig for every deduction and credit available, and then to help them plan to reduce taxes in the future, so that they can accumulate more wealth. Finally, for peace of mind, they need a strong advocate when CRA audits their files.
It matters not what your job description or career path is: there is now a new and more onerous CRA audit effort and audit-proofing your claims and documentation requirements is a critical component of overall wealth management. Yet so many Canadians are unprepared and ill-equipped to explain their financial transactions and keep proper books. Knowing how to enter data in a personal finance or accounting software program is simply not enough.