A Challenge for New Clients: How to Choose a Trusted Advisor

If you’re in business for yourself, you have a unique opportunity to build wealth in an asset class that others don’t have: equity in a business enterprise that some day may be sold for millions of dollars. In addition, that business can spin off income for family members that can provide significant tax advantages, done well. Understanding how to realize on this asset requires the help of a trusted financial advisory team. Who should be on that team and how do you find them? This is a challenge your next new business clients may wrestle with. Here are some tips on how you can open discussions to help them:

Many Canadian snowbirds have already headed south for the winter, and recent retirees making this a part of their lifestyle for the first time should be diligent in understanding the tax rules that affect them before year-end.

The role advisors can play in helping new immigrants, and the importance of immigration and diversity in Canadian society, were central themes at DAC last week. Now, with a timely release, Statistics Canada has published new data on the important impact education has on immigration, pointing to valuable opportunities for new Canadians in the tax and financial services.

New data shows that tracking gender pay gaps is not a priority for Canadian businesses, despite government efforts to bring the issue to the forefront.

The Distinguished Advisor Conference (DAC) was the best yet in its 15-year history, held in Quebec City last week. Not only were the educational sessions delivered by Canada’s top thought leaders in tax and wealth planning issues; the networking was outstanding. Check out our picture gallery (coming soon!) and this glimpse of comments from those who were there:

Year-end can be a particularly difficult time for those who have lost a loved one during the year. But it’s important to see a tax specialist when someone in the family dies, to file any tax returns that may be outstanding on time, adjust prior-filed returns, and to claim specific tax benefits that can help to pay for end-of-life costs.

How much income do Canadians think they need annually to lead a comfortable life and how realistic is it? According to a poll by Edward Jones, it’s a figure that’s over $250,000—one that could grow as interest rates and the needs of the elderly continue to rise. It’s a topic that created a vibrant conversation at the Distinguished Advisor Conference which concluded yesterday in Quebec City.