Last updated: October 19 2022
Distinguished Delegates at DAC 2022 were asked to get out of their comfort zones and make new, big goals to embrace what will be a difficult 2023 for their clients as a recession looms, CRA audits and recall of bank loans darken the horizon. At the same, time, however, there has never been a more perfect opportunity to add the highest value as professionals in the accounting, tax, bookkeeping and financial services. Twenty-four outstanding thought leaders made their case for building Velocity in anticipation of their enhanced services this year.
Day One had an action-packed lineup of speakers that included:
VELOCITY: Going the Distance with the Speed of Change – Evelyn Jacks, President, Knowledge Bureau, considers whether we are in fact in a Minsky Moment, which will lead to a financial crisis or a recession, and whether we have the trust, resilience, and capacity to weather the current financial storm and to secure financial peace of mind for all of our stakeholders: clients, employees, partners, and family.
ETHICAL BEHAVIOURS: Breaking Down the Duties of Care - Tony Mahabir, CEO of CANFIN, shares insights on how to accomplish breaking down the duties of care against the backdrop of increasingly complex and expensive regulations. Can ethical behaviour be regulated? Can we eliminate all of the “Bad Apples’ with regulation or does it take more?
THE VELOCITY OF MONEY: The Rate of Spending and Its Impact on Investors - Philip Petursson, Chief investment Strategist at IG Wealth, looks at preserving wealth to amplify purchasing power. Pumping money into the economy as we did during the pandemic is a sure way to create inflation. Still, bankers and governments speak about a 2% inflation rate over time. Is this realistic in the current environment? He answered this and more.
COMING HOME: The Tax Quagmire for Ex-Pats - Understanding taxation on departure and re-entry to Canada is always an important topic to tax and financial advisors. Dr. Dean Smith, President of Cadesky Tax, goes through how to provide confident commentary to questions your clients may have about their children or parents returning to Canada after extended periods of non-residency.
ESTATE PLANNING WITH GENERATION DREAD - A panel discussion featuring: Tina Di Vito, Partner, Canadian Family Enterprise Leader, EY Private, Dr. Britt Wray and Lewis Kent, MC of the event. The three panellists dig into estate planning discussions, which are always difficult, but these days, perhaps even more so. They point out why tax and financial service providers must pay attention to new trends; notably that young people – those that need to be engaged as primary stakeholders in wealth transfers – have experienced a significant drop in hopefulness.
WHY CONSIDER ALTERNATIVE INVESTMENTS? Because the future may not look like the past! - The session led by Franklin Templeton’s Jennifer Louth looks at how institutions and large family offices have historically allocated significant capital to alternative investments. Seeking higher returns, incremental income, lower volatility and inflation hedging have been some of the motivators. Recently these investments are gaining more traction with high-net-worth investors and discussed were effective ways to incorporate alternatives in client portfolios.
INVESTOR BEHAVIOR MANAGING FOMO - Professor Laura Cavanagh on Investor Behaviour and FOMO - the Fear of Missing Out. Her session went through understanding the cognitive biases and distortions that influence your clients’ investment behaviour, decision-making, and ability to follow through on good advice. “The behaviour we see on the surface is just the tip of the iceberg.”
TRUTH AND RECONCILIATION - Integrating Canada’s most painful history into changing workplace standards only makes sense as the economy rebuilds. Find out why that matters to you, your clients and a healthy culture at work with Jennefer Nepinak and Lisa Cefali of Legacy Bowes Group.
PANEL DISCUSSION: The Changing Faces of Wealth. The Multi-demographic approach to wealth management has truly arrived and the numbers prove it. Moderated by Franklin Templeton’s Christine Logan and featuring TD’s Judith Chambers and Saijal Patel, CEO of Saij Wealth Consulting. They dig into why this needs attention and the remarkable opportunity a multi-demographic approach can bring.
Stay tuned for next week for a recap of Day 2!
The in-person events (first ones since the pandemic hit) were spectacular this year. There were networking and social events like wine tasting and the Halloween Bash, both, a way to relax and build professional relationships. Please view the DAC2023 Photo Gallery to get an attendee experience.
"It’s knowing that I can get timely current information and experiences from those at the top of their fields. What a resource."
"Good business practices that can be used in all businesses. Inspiring thought leaders that come with fresh and time-tested ideas."
If you register early there are discounts! Contact us today to enroll for DAC 2023 or register at DAC2023. If you saw how much exposure the sponsors got at DAC 2022, and you’re interested in sponsorships opportunities for next year—contact us to find out more.
Join us next year at DAC 2023 for critical content focused on today’s essential financial topics, and some of the best networking opportunities out there!