Demographic changes will dramatically alter advisory practices
People born in developing countries sent a combined $5.2 billion back home in 2017
For immigrant families, housing equity contributed 69% of the growth in average wealth
A new study forecasts that the workforce will be getting older, more reliant on immigrants
Many recent immigrants have preferences for certain goals, such as education and a home. And while they can quickly become major clients, they also vet recommendations more often
Canada's population was 36.3 million as of July 1, StatsCan says
HNW immigrants are looking for tax and estate planning services
Be prepared for different attitudes, but avoid stereotyping
Immigration in Canada is on the rise. So, dealing with newcomers to Canada will be an important part of many advisors' business
Take note of distinct backgrounds, cultures and experiences