As managing director of tax and estate planning with CIBC Financial Planning & Advice in Toronto, Jamie Golombek is quoted frequently in the national media as an expert on taxation.
As managing director of tax and estate planning with CIBC Financial Planning & Advice in Toronto, Jamie Golombek is quoted frequently in the national media as an expert on taxation.
Next time a client has a desire to play games with his TFSA, point out this harsh — but legally valid — punitive tax
The instalment system can be complicated, so clients need help figuring out which one of the three methods to pay their taxes makes the most sense
The case of a Canadian student studying in the U.S. brings to light what happens when CRA officials follow a strict and literal interpretation of the law
Now is a great time to review your clients’ files to see if you have the most up-to-date information on their available RRSP contribution room
The federal tax agency is making the transition to a new telephone system that will connect callers with agents more efficiently
The most important consideration in this process is whether a client can use his or her foreign tax credits against other income in the year of transfer
Clients need to be aware of how the CRA’s treatment of income infrom foreign securities affects their investments
It’s important to be aware that the new rule limiting access to the small business deduction for CCPCs in 2019 is based on 2018 income
Budget 2018 revealed the government’s new approach to passive income in a CCPC; let’s crunch some numbers
Although clients may be upset at having to pay taxes on their RRSP and RRIF withdrawals, RRSPs are the optimal, long-term savings vehicle for most clients
Studies show investors are largely satisfied with the advice they receive
The CSA’s renewed system project is an opportunity for the regulator to innovate
Getting a contact name early can help advisors manage issues before they arise
Research shows that behavioural insights can improve the way information is shared with investors
How embracing technology can help you build stronger client relationships
Demographic changes will dramatically alter advisory practices
As millennials inherit their parents’ wealth, advisors will need to evolve their business practices
Three key steps to improve investor engagement and advisor success
Situations become complicated when couples aren’t on the same page about their goals
IIROC and MFDA advisors could lose their licence if they act as an executor and/or beneficiary
Don’t leave your dependents in the lurch
IIROC and the CSA have provided new guidance to dealers
Debunking the myth that ETFs cause market instability
There’s more to determining an ETF’s liquidity than just looking at its trading volume
Investors who may have overcontributed to their TFSAs face harsh penalty tax
Investors who borrowed money to purchase a now-defunct investment can still write off interest on the loan
What advisors need to know before the rules take effect in January
Recent FCA case confirms lower court decision denying relief of overcontribution tax, penalties and interest
Financial planners need a strong understanding of the behavioural factors that come into play when creating and implementing a financial plan
The FSRA’s regulation of advisor and planner titles could influence policy in other jurisdictions
But the devil will be in the details
Consumers expect professionalism and true value from financial advisors
Upcoming disclosure requirements will provide a wealth of diversity data that goes beyond gender
What is sustainable finance, and what does the recent report from Canada’s Expert Panel on Sustainable Finance mean for advisors?
Men hold the vast majority of board seats and CEO positions in Canada. Gender lens investing aims to close the gap.
Growing awareness of social and environmental problems has laid the foundation for impact investing
Why well-managed small and mid-size independent dealers are competing effectively
How the “notice and access” mechanism for proxy voting could be extended to other documents
Lower compliance costs will allow advisors to better serve smaller investors
Clients have demanded an integrated platform of products and services driven by their desire for convenient, one-stop shopping
Financial advisors should be aware of how to identify and engage effectively with vulnerable clients
Financial planners and advisors should be aware that the act may go beyond title protection
Long-term investment portfolio values and retirement goals can suffer when your clients follow market irrationality
Multiple rules and regimes mean increased costs for advisors, planners and clients
Part 2 of a series on multi-factor ETFs
Why to consider multi-factor ETFs
The amount of time and effort put into deciding the benchmark for each portfolio you build is critical
One advisor shares her journey on making the switch to a fee-based practice focused on providing client portfolios of ETFs
How advisors can guard their vulnerable clients from financial exploitation and avoid the risk of regulatory action
For clients, information on their investments is now just a click away. Advisors can help minimize their overreaction to market movements.
Increase engagement by focusing on your client’s goals rather than only the details of their investments
Advisors could use technology to make necessary processes less cumbersome and more understandable for clients
The insurance industry is taking a page from the mutual fund industry, leveraging technology to address mounting disclosure regulations
AI is slowly making its way into the wealth-management industry and will ultimately transform financial advisors’ role
Blockchain technology may transform financial services just as peer-to-peer file-sharing technology changed the music industry almost 20 years ago
Far from replacing interaction with real people, technology strengthens the financial advisor’s client service
Read and follow your firm’s guidelines on social media use and take the necessary steps to protect yourself
Although it’s costly to upgrade key IT systems, the costs of not doing so could be much greater
Hacktivism, ideological insiders and intelligence gathering are key sources of cyberattacks threating financial services firms
Now is the time to adopt a concerted cloud migration strategy because the security challenges associated with this technology will be on our radar screens…
Advisors and their clients stand to benefit when corporate leaders focus on building socially and environmentally responsible enterprises
A growing base of investors are looking for investments that contribute measurably to environmental and social sustainability
Corporate boards and executive teams that lack gender and cultural diversity risk missing out on opportunities to generate long-term value
You can play an active role in ensuring company executives and directors are working in the best interests of their shareholders
Those still timorous and uncertain about introducing a best interest duty have a duty, themselves, to become decisive
Every company can calculate non-GAAP metrics however they want, so there’s real risk of investors and markets being misled
Overcautious courts are erecting barriers to securities class actions, even though these lawsuits are essential for maintaining the integrity and fairness of our capital markets
Data show that investors routinely receive, or are at risk of receiving, seriously bad disclosure from reporting issuers more than a quarter of the time
Two key issues — the best-interests standard and reform of mutual fund fees — require timely and effective action
FAIR Canada supports exemptions that have the key features of rights offerings or private placements in compliance with the TSXV’s private placement rules
Current regulations assume that an investor’s wealth is a proxy for sophistication. This has to change
Paying fees for financial advice separately from those of financial products would result in price competition and better advice