Mark Your Calendar: Critical Deadlines for May and June

Tax season never truly ends, it seems, as there are many more upcoming tax filing, investment planning and education milestones to discuss with your clients over the next six months. Check out our handy checklist below and then test yourself – what are the conversation openers you’ll use and with which clients? It’s your opportunity to shine with every member of the household:

The sold out Distinguished Advisor Conference ended with a standing ovation as Evelyn Jacks summarized the significance of the Recovery Theme against the backdrop of stirring images of a dramatic 2011. "We are in repair, but not quite there,î said Mrs. Jacks, as advisors digested the 18 sessions ranging from macro economic views to technical sessions on real estate, tax, retirement, debt management, succession and investment planning. "You do important work, you have developed strong networks and you are better positioned to embrace new approaches to family wealth management in these unprecedented times.î The spectacular Casa Rosa mountains surrounded the beautiful venue, where delegates enjoyed meeting up with old and new friends and peers. The atmosphere was relaxed and friendly and you rarely pass by someone who isn't smiling and having a wonderful time. For Photo Highlights For Session Summary Reports:   Distinguished Advisor Conference -Day 2   More Successful Financial Relationships - Randy Ambrosie Sponsored by: Accretive Advisor   Debt Management = High Value Clients - Stephanie Holmes-Winton Sponsored by: Manulife Bank   Exempt Market Funds: Should They Be On Your Product Shelf? - Robert Ironside Sponsored by: Knowledge Bureau   Road to Recovery: Clarify Investment Processes With ETFs - Mark Webster Sponsored by: BMO Financial Group   U.S. Real Estate Investing for Canadians - Darren Latoski, Steve Evans and Rhonda Taplin Sponsored by: Sunstone Realty   United States - After The great Recession, What Kind of Recovery? - Bill Cheney Sponsored by: Manulife Securities   Working With Stars - Tom Dreesen Sponsored by: Knowledge Bureau   The Rat Pack Gala Distinguished Advisor Conference - Day 3 RWM: Transition: Tax Efficient U.S. Property Acquisitions - Larry Frostiak and Angela Preteau Sponsored by: Knowledge Bureau   RWM: Adding Tax Alpha: Consistently Better Returns with Tax Efficiency - Dale Durand Sponsored by: NexGen Financial   Creating Investment Portfolios For UL - Geraldo Ferreira Sponsored by: Tranamaerica   RWM: Tax Strategies For Caregivers - Walter Harder Sponsored by: Knowledge Bureau   New Relationships, New Media - Managing Expectations - David Christianson Sponsored by: Knowledge Bureau   Investing in Tomorrow- Panel Discussion - Susan Misner and Dennis Modrich Sponsored by: Knowledge Bureau   Conference Close: In Repair - Evelyn Jacks

Tom is a local Californian and is with the Coachella Valley Economic Partnership. He shared their mission and vision for a sustainable and diversified year-round economy that is competitive in the global world. 3 Key Points: 1. Tom provided audience with an interesting overview of the Coachella Valley Economic Partnership here in southern California 2. Leadership in the private sector required to build the economic future of Coachella Valley 3. They are developing a model to be competitive in the global world from the grass roots and up ñ striving to be the economic model for California. (Compete! Compete! Compete!)

Richard presented a detailed view of the economies of the US and Canada as well as the Global world and, in particular, the crisis in Greece and the effect of the Emerging Markets. Three Key Points: 1. US is on verge of recession a. Housing prices have not found a bottom b. Unemployment remains high c. Gold focused on US $ - will not rally until US economy stimulated with new capital Solution: risk of double dip recession in US is low 2. Europe in Crisis a. Greek default unavoidable b. Risk of contagion 3. Emerging Markets a. Dampened by inflation; property bubbles b. Global growth depends on emerging markets stimulus at a time when they are pulling back c. Growth rates forecasted for 2012 have declined significantly between April 2011 and October 2011 Richard ended with some solutions including the Portfolio Barbell (Need cash flow at one end, defensive plays in the middle and Growth on the other end)

Key message of Mick Kelly's speech on the deepening role for advisors in retirement income planning: "People don't change because they see the light, they change because they feel the fire.î Mick presented a dynamic interactive session with live polls and thought-provoking ideas, many of which were validated with interactive live polls with audience. 1. Demographicsówhat is the advisor's role in: a. Dealing with an aging population that is living longer b. Retirement years that are longer and therefore more expensive c. Canadians underestimate amount they need for retirement and need help with planning d. Market turmoil has jolted retirees sense of financial security, and so they are ready for help. 2. 5 Key Risks to Securing Retirement Income a. Longevity ñ must plan for longer retirement& Canadians underestimate amount needed for retirement b. Asset Allocation ñ long list of solutions; know what is available in market place c. Inflation ñ erodes purchasing power even if low; must be addressed d. Withdrawal rate ñ Don't run out of money before you run out of breath! Mick suggested the ideal rate is 4.2% e. Healthcare ñ biggest issue in next 10 ñ 20 years 3. Retirement income is a distinct discipline a. Advisors need a formal deliberate process ñ have a written plan b. Customization of plans goes up as affluence goes up

Gordon led us through the harsh realities of retirement in this ever changing global world and provided advice for solutions to these realities. His new book, by the same title outlined the following key points for advisors: 1. Incredible changes have taken place from 2005 to 2011 that affect retirement Surprising stats: more than 2/3rd Canadians plan to work after age 65: 38% due to not enough money 56% will retire debt free; 2 in 10 have a financial plan; 5% relying on lottery win to fund retirement 2. 8 Harsh Realities were outlined, including the following: demographics changing as boomers age; pension plans are dying; governments can't help; we aren't saving enough; we really don't know what we are doing to get out of the predicament; there is no safe place for our money; our tax system works against seniors; and, we have to make sacrifices to live a longer more financially stable retirement. 3. Financial Advisors need to offer the solutions ñ help retirees have a plan (only 21% of Canadians have a financial plan); pay off debt; know your pension plan; keep building the RRSP; tailor TFSA to goals; help clients help themselves to a better lifestyle; minimize taxes; be multi-dimensional in retirement planning.

Pat Foran delivered an inspiring message about the role of the advisor in helping families with young children become more financially literate; an integral part of the financial recovery. Highlights of Pat's speech included: 1. People need your help a. As Consumer advocate with CTV Pat receives hundreds of calls a week from Canadians who have made financial mistakes b. Advisor role needs to include educating clients and their children 2. Report on Task Force on Financial Literacy a. Financial Literacy means having the knowledge, skills and confidence to make responsible financial decisions. b. Some key recommendations coming from the task force: i. Financial literacy needs to be in public education curriculum ii. Website run by federal government with information and resources is a key hub for ongoing education iii. Ongoing public awareness campaign is necessary iv. Financial service providers should put a strong emphasis on delivering educational information and ensuring it is fully understood in "teachable momentsî. 3. The Smart, Savvy Young Consumer a. New book written by Pat just released this month, moving up the bestseller lists, published by Knowledge Bureau Newsbooks. b. Help for young people aged 14 ñ 34 c. Financial advisors need to pay attention to the young people and assist in their financial literacy education, and so should support this book as a valuable Christmas gift this year.