With increasing fears of an imminent recession on the horizon, it is useful to remember September 15, 2008. That’s when the fourth largest investment bank in the U.S., Lehman Brothers, applied for the largest bankruptcy filing in U.S. history. It was a shock that exasperated the financial crisis that followed. Does the Canadian economy have the economic resilience to compete powerfully through another dramatic downturn? It’s the heady theme advisors will explore at this year’s Distinguished Advisor Conference, November 10-13 in Puerto Vallarta, together with 19 outstanding thought leaders. Meet them and their interesting topics in this Special Report.
The DAC audience - tax and wealth advisors from across Canada – will be challenged to think strategically about the best ways to manage risk to family wealth. The storm clouds are already on the horizon, and there are many catalysts to both scenarios - boom and bust. As important, the answers to resilience in weathering any future economic storms are complex and for those reasons, require a customized approach to family management. There is one common thread, however: immediate preparedness as a best defense in either case.
The DAC Speakers have prepared thoroughly to enlighten you in eight key areas of concern:
Is your practice healthy enough? Just how resilient are the practices of financial advisors in Canada? You will be challenged to think about this by Franklin Templeton Canada’s President and CEO, DUANE GREEN. Just how do you plan to capture the best of the opportunities the future holds for you?
Managing a key enemy: debt . With debt to disposable income ratios holding steady at 1.77 Canadians continue to be heavily burdened. For the young, this is primarily due to mortgage risk. In fact, many families are just a couple of hundred dollars away from financial ruin should unanticipated black swan events hit their finances. Yet, most of these same families are unaware of a powerful antidote: the efficient use of both debt and savings accounts to ward off financial threats. LYSA FITZGERALD , AVP, and PATRICK GILL , RVP, Manulife Bank will share how advisors can help.
Your professional networks matter . In complex times, the successful advisor of the future will provide wealth management services that reflect the needs of a diverse client base and embrace cultural differences. This also involves a deeper understanding of cross-border tax issues and how successful businesses may transition to new entrepreneurs who come to Canada from abroad. These topics will be well analyzed by TONY MAHABIR MBA, CMC, RRC, CIM, CFP, CEO Canfin Financial Group of Companies, DR. DEAN SMITH , PHD, CFP, TEP, CPA, CA President Cadesky Tax.
The rise of small business is key to powerful competition . Will Canada rebound from external pressures including trade wars to engage in new economy growth as the result of growth of small innovative new businesses? The answer can be a resounding yes, if business owners themselves are prepared to show how powerful an economic force they can be.
The burning issue is that as a group, managing their tax risk is a critical element of future economic success. They must get quality financial advice to insulate their income and assets from tax-happy governments. DAN KELLY President of the CFIB will expand upon the opportunity but also warn of the dangers brought on by anti-business tax policies.
Tax knowledge is hot . Recently the federal government has changed the rules for executive compensation plans and the charitable sector. Will these changes negatively impact the resilience factor in Canada? Find out more from KRISTIN RAMLAL , PFP, CIM, FCSI Securities Specialist and Credential Qtrade Advisor and KIM GC MOODY , FCA, TEP, Moodys Gartner Tax Law LLP. DAN COLLISON , President Advice2Advisors will take the discussion a step farther: he will share that 58% of Canadian investors would leave their financial advisors if they could find one that could explain the taxation on investment income better. Tax knowledge is the hot commodity in the financial advisory marketplace.
Looking out for transitioning businesses. Will the $60 Trillion dollar global wealth transfer materialize? Not if business transitions fail amidst the potential of a global recession. It’s a big issue for Canadian boomers, one that is going to require resilience and above all, determined leadership. JOANNE SIGURDSON , Executive Coach & Business Consultant and business transition specialist and author JENIFER BARTMAN will engage you in a panel discussion about the challenges of transition that, left unplanned, have the potential to erode billions of dollars of wealth in small business value today.
Resilience requires collaboration . Last June , the Bank of Canada launched a public-private partnership with Finance Canada, OSFI (the Office of the superintendent of Financial Institutions, Canada’s banks and Canadian Financial Market Infrastructures, which include payment, clearing and settlement systems. The objective? To strengthen resilience of the financial sector in Canada in managing cyber incidents and other risks to operations, all with a collaborative approach to crisis management. It’s called the Canadian Financial Sector Resiliency Group (CFRG) and it makes sense.
Likewise strategic collaboration of the various financial professionals around the family and its wealth holdings to find the right solutions in retirement, disability and beyond will be analyzed by JEAN-PIERRE LAPORTE , CEO, Integris Pension Management and MARK TAUCAR , Portfolio Manager, Accilent Capital Management Inc.. The planning for financial incapacity – a significant risk requiring crisis management – will be covered by TERRI WILLIAMS , CFP ®
Leaning in matters. From the uncertainties of a new digital economy that eliminating job security, to the effects of climate change and an aging demographic, more than ever it is important for us to put more weight on the human qualities, perseverance and latent potential that drives the human race to excel from one generation to generation. You will hear that message from our inspirational keynote speaker, Russ Shephard, the subject of the uplifting, yet haunting story of The Grizzlies.
I will be so proud to introduce to you this educational experience extraordinaire with 19 brilliant speakers who will dig deep into these eight secrets to competing with power, so you can serve your clients with economic resilience. . .against all odds. Their collective message will be clear: financial specialists working together to customize client portfolios for the right outcomes – after tax - will be able to best contain future wealth erosion.
If you are one of those collaborative advisors who is determined to manage successful financial outcomes for your clients, I invite you to learn more now, in the DAC Special Report, and then to register to attend:
EARLY REGISTRATION DEADLINE : SEPTEMBER 15.