News and resources for Canada's top financial advisors
Planning and Advice
I recently attended the CIFPs annual meeting where current trends in the industry where discussed. One of the topics was the strategic move to require all CFPs to put their clients' interests first. On the surface, this seems like motherhood and apple pie. Beneath that surface, however, something far more contentious lurks.
By John J. De Goey | June 22, 2011
3 min read
Many advisors shoulder the responsibility of supervising financial independence planning for their clients. What I’m curious about is whether or not they take cost or the method of payment into consideration when doing those projections.
By John J. De Goey | June 10, 2011
It seems a number of readers have recently either taken my points out of context or missed the point altogether. Lately, I’ve been writing about cost and why it is important to keep expenses down. People have written back and talked about the importance of planning, the randomness of returns for actively managed products and the overall quality of advice they give.
By John J. De Goey | May 18, 2011
Over the years, many journalists (and only a few advisors) have lamented the comparatively high MERs charged by Canadian mutual fund companies. To date, the real alternatives for ordinary Canadians involved either “sucking it up” and doing nothing or moving toward a higher allocation in individual securities, exchange traded funds (ETFs) and / or index funds.
By John J. De Goey | April 7, 2011
One area in the field of finance that has been growing in acceptance is that of behavioural economics- sometimes referred to as behavioural finance. In essence, it deals with the various intellectual and emotional errors that nearly everyone fact seems to make. Concepts like overconfidence, negative loss aversion, mental accounting, hindsight bias and anchoring have gained considerable acceptance in the financial services industry.
By John J. De Goey | March 9, 2011
4 min read
I hopped on to my computer recently and typed in the phrase “scientific method” into a familiar search engine just to see what came up.
By John J. De Goey | February 14, 2011
Advisors generally do a good job in helping their clients make smart decisions with their money. Most try to help clients obtain a meaningful understanding of capital markets. Most try to make reasonably suitable recommendations. These advisors will diversify between equity and income, value and growth, small cap, large cap and a number of other ways, too.
By John J. De Goey | January 4, 2011
I recently read ‘Nudge’ a book about decision-making by Thaler and Sunstein. The book left me with a lasting impression.
By John J. De Goey | November 30, 2010
The perverse thing about living in a society that’s obsessed with keeping up with the Joneses is people are seldom satisfied. Fulfillment in life can come from any number of activities or pursuits. Many of them (watching your daughter progress as a pianist, running a marathon, staying married) relate back to things that money can’t […]
By John J. De Goey | October 27, 2010
Tell me if you’ve ever come across this statement before: Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. This is, I’m sure you’ll agree, the standard […]
By John J. De Goey | September 15, 2010
I was at a conference recently and I bumped into my old friend Ellen Bessner, author of “Advisor at Risk”. We began chatting about the business. Even though we generally agree on the ‘lay of the land’, we had an interesting discussion about business models. Specifically, we were wondering if an asset-based fee or a […]
By John J. De Goey | August 5, 2010
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