Watch an an interview with Keith Costello on IE:TV.

The industry association for financial planners in Canada geared up for its largest ever conference next week by electing a new slate of directors at its annual meeting Thursday afternoon.

The Canadian Institute of Financial Planners (CIFPs) elected a new chair, two vice-chairs and replaced six retiring members of its board of directors at the meeting held in Mississauga, Ont.

The changes come just days ahead of the 2008 CIFPs conference next week in Orlando, Fla. Nearly 500 financial planners from across the country will pack their bags to head south for the snowbird-themed three-day event, according to the head of the institute.

“We think it is probably one of the best speaker line-ups we’ve ever put together,” said CIFPs president and CEO Keith Costello, after yesterday’s meeting. He notes this year’s general interest speakers such as Roger Martin, dean of the University of Toronto and David Foot, economist and author of Boom, Bust & Echo: Profiting from the Demographic Shift in the 21st Century. “We’re very excited about their generalized type of speaking, and then there is a lot of tremendous industry and technical speakers throughout the program.”

This year’s conference, the institute’s sixth annual, will focus on the myriad issues surrounding cross-border financial planning.

“We see it as an important issue,” said Costello. “Baby boomers and the U.S. and cross-border will become an important issue for clients and the Canadian public—as a lot of them will retire to Southern climes, at least part time—and for the advisors who are managing their affairs at this point in time.”

Yesterday’s elections included some shifting of previous members as well as some new faces. Miklos Nagy, former second vice-chair, will head into the conference as the new chairman of the board for the CIFPs, replacing Marion Weisgerber. Nagy is president, co-founder and CEO of Quadrexx Asset Management Inc., in Toronto. He is also chairman, co-founder and CEO of Canadian Hedge Watch Inc., a publishing and educational firm focusing on the Canadian hedge fund industry.

As well, Tony Mahabir was elected as first vice-chair and Donna Worthington is the new second vice-chair. Mahabir is the chairman and CEO of Oakville-based Canfin Financial Group of Companies and principal for Canfin Management Inc., a management consulting and financial planning firm. Worthington is a partner and co-manager of the Investment Planning Counsel, based in Edmonton.

Other members of the CIFPs board are representatives from across the country. Ed Sinnott is from Alberta. Ed Springer is from New Brunswick. James Boylan from Nova Scotia. Weisgerber and Agnes Bourassa are from Saskatchewan. Don Nilson is from British Columbia. Brent Rolfe, Carol Chow, Geroge Athanassakos and Joe Shumka are representing Ontario.

Costello’s address at the annual meeting also noted that the 3200-member institute’s bottom line is looking strong. “CIFPs again made significant progress towards improving its financial position driven by strong membership renewals, revenue surpluses from conference events, education courses and prudent cost management,” reads its annual report. According to the report, the institute had an operating surplus of $492,417 at the end of the fiscal year.

Also at this year’s conference, Costello said, the CIFPs publication “Current Trends in Financial Planning” will be released. “It’s kind of an encapsulation of all the new things that have come up in the financial planning and investment area for the year,” he said. The report is put together by a group of experts in all areas of the industry, including estate planning, taxation and wealth management.

The conference runs from May 4 to 7 in Orlando.

Watch for more IE stories and video coverage of the conference starting on Monday.