Why do wealthy individuals, those who have no need for more insurance, sign up for the largest whole life policies issued inCanada? Did they meet a high pressure insurance salesperson who convinced them to buy something they don’t need? Are they unsophisticated investors who have…
Saying “I do” is perhaps the most rewarding and riskiest investment any individual can make, but according to experts, the stakes for high net worth clients can be exceptionally high, with millions of dollars of assets on the table. From protecting wealth to combining legacies,…
Canadian couples with significantly different incomes may want to consider using a spousal RRSP to help cut their tax bill in retirement, but experts say it’s all about balance. “It’s not something like: ‘What, you’re married? You should get a spousal RRSP,’” said Victor Godinho, an…
Tax and estate planning usually takes place during a client’s lifetime. That said, there are post-mortem planning opportunities that you should discuss with clients. The goal of post-mortem planning is to reduce the overall tax liability for the estate and its beneficiaries. So create a…
Michael Bronstine of GBK Strategic Financial Partners a well-recognized life insurance industry leader who has provided insurance planning solutions for high net worth (HNW) families for over 20 years. He answers our questions about the role life insurance plays in strategic financial and estate planning,…
The Conference for Advanced Life Underwriting (CALU) has made two proposals to the federal government that it believes will encourage Canadians to be financially self-sufficient in their retirement years, thereby reducing their reliance on public programs and institutions. In his submission to the House of…
CRA has launched the Electronic Funds Transfer (EFT) initiative, introduced in the 2013 Budget as one of several new measures to crack down on international tax evasion and aggressive tax avoidance. Effective January 1, 2015, certain financial intermediaries, including banks, have to report to the CRA…
While most adult Canadians acknowledge the need to prepare for the transfer of their wealth to the next generation, there is merit in preparing for the transfer of wealth from the prior generation. Both the parent and child can benefit from engagement in a discussion…
This true or false quiz will test your knowledge of estates. You may find some information worth sharing with clients. In Ontario, marriage revokes a will. …
The return of volatility—as valuations and investor complacency remain elevated—will make it vital for investors to consider hedging against downside risk and cut back on certain investments in the new year, finds the BlackRock Investment Institute’s (BII) 2015 Investment Outlook. BII anticipates divergent monetary policies…