Tax concerns leading a record number of American ex-pats to renounce citizenship

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Apr 07, 2018

A record number of American expats are renouncing their U.S. citizenship, citing the high costs for annual tax filing, the risk of double taxation and potentially expensive estate taxes that can put money... Continue reading

Automation to impact half of jobs in the next decade, says RBC study

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Apr 07, 2018

New research by RBC says that 50 per cent of Canadian jobs will be disrupted by automation in the next 10 years. The RBC research paper, Humans Wanted – How Canadian youth can thrive in the age of disruption... Continue reading

3 Misconceptions About Estate Planning

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Apr 04, 2018

Executive Summary Having a proper estate plan in place will ensure that your loved ones are protected if you were to pass away. As soon as you have any assets or property it is time to contact your team... Continue reading

Proposed national annuity plan could ensure seniors don’t run out of money

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Apr 04, 2018

A new idea is being floated for a voluntary, national program that would see Canadians aged around 65 start to contribute to a pooled deferred annuity plan, providing them with a type of longevity insurance... Continue reading

Banking sales culture may increase risk of “mis-selling” to consumers, says FCAC

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Apr 04, 2018

The Financial Consumer Agency of Canada (FCAC) has published a report saying bank cultures strongly anchored in sales can increase the risks of mis-selling to consumers and of bank employees breaching... Continue reading

Consumer debt reaches new high

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Mar 14, 2018

Including mortgages, Canadian consumers owe $1.821 trillion as of Q4 2017, according to Equifax Canada’s 2017 Q4 National Consumer Credit Trends Report. This compares to $1.797 trillion in Q3 2017 and... Continue reading

FCAC warns consumers against sharing banking information with third-party online services

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Mar 14, 2018

The Financial Consumer Agency of Canada (FCAC) is warning Canadians about the risks of disclosing their online banking and credit card information to third-party financial mobile applications and online... Continue reading

Investment decisions intimidate nearly half of Canadians, says survey

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Mar 13, 2018

Forty-six per cent of Canadians are intimidated by investment decisions, according to a new survey released March 12 by BMO SmartFolio, part of BMO Wealth Management. The survey also found that 60 per... Continue reading

Concerns rise over identity theft

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Mar 09, 2018

Seventy-one per cent of Canadians are concerned about identity theft, up from 66 per cent last year, according to an annual fraud survey commissioned by the Chartered Professional Accountants of Canada... Continue reading

Millennials are most vulnerable to investment fraud

Published by Thomas B. Russell B.Sc., MBA, CFP, CLU, CH.F.C. on Mar 07, 2018

About one quarter of British Columbians are vulnerable to investment fraud, says a recent poll commissioned by the British Columbia Securities Commission (BCSC). In February, the BCSC surveyed over 500... Continue reading