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 | "Discover and Target Your Clients' Top Priorities" Conference
Tues. Sept. 7,
Toronto Board of Trade
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Wealth Management Services Sponsored by The Bottom Line, CCH and Tacita Capital
Featuring speakers from across North America, including
James Herrig, JD
VP and Chief Compliance Officer
Hankamp Krueger Financial Services
John Murray, LLB, LLM
VP of Standards Enforcement.
ICAO
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| Upcoming Events
Chris Frederiksen's Driving Revenue
Seminar Series
4 Key Initiatives- Identify sources of revenue that have significant growth potential
- Offer your clients more services
- Get More (and Better) Clients
- Build infrastructure to expand your practice efficiently and profitably
Wednesday, July 28
Ottawa, ONTuesday, Sept. 14 Toronto, ON
Wednesday, Sept. 15
Hamilton, ON
Friday, Nov. 12
Las Vegas, NV
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| Who Needs Encouragement?
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Dr. John C. Maxwell
The Smithsonian Institution in Washington, D.C. houses the personal
belongings Abraham Lincoln was carrying the night he was assassinated.
Among them is a well-worn newspaper clipping lauding Lincoln's
achievements as president and describing him as, "One of the greatest
statesmen of all time." Now, President Lincoln was by no means an
egomaniac. In fact, he battled self-doubt throughout his presidency,
especially during the Civil War when friend and foe alike heaped
criticism upon him. That a national hero like President Lincoln would
carry around words of encouragement in his pocket speaks volumes about
the human need for affirmation.
As a leader, the first person you must encourage is yourself. If
you're discouraged and feel like quitting, then you won't be able to
spur on the people looking to you for support. Here are four simple
strategies to keep you in high spirits.
1) Create Mementos
Hebrew shepherds carved a record of their significant life
achievements into the wood of their staffs. Each day, as they carried
the staff, they felt its contours on their skin. The stories etched in
the wood served as encouraging reminders of obstacles they had overcome
or victories they had won.
We can draw encouragement from past triumphs, but only if we
perpetuate our memories of them. Do so by finding a tangible memento to
represent the accomplishments that make you the proudest. Abraham
Lincoln chose to carry around a news article. For you, maybe it's
framing written words of praise from your manager. Or perhaps it's
displaying artwork you've created, a medal you've won, or a plaque
you've received in honor of your contribution to the organization.
Whatever the case, give yourself visual cues that will trigger
recollections of success.
Click Here for the Entire Article |
What a summer! Our Italy and Croatia trip was amazing with great adventures and lots of fun. And the weather here has been spectacular for biking, swimming and generally enjoying the outdoors both here in Mississauga and up in the Muskokas.
Last weekend, Melanie Latimer (Richard's wife) and I entered the Toronto Island Triathlon along with my daughter Haley and we had great results. Each of us came in first in our age groups, with Haley coming in 3rd overall. A very little training and a lot of encouragement from friends and family go a long way. Two more triathlons to go this summer!
Sincerely,
Peggy Tyers 2020 Canada |
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 The
Canadian Innovator | Greetings!
"Each man should frame life so that at some future hour fact and his dreaming meet."
Victor Hugo
The Tuesday following Labour Day is almost
like the start of a New Year. Children
start a new grade. For some it will be
their child heading off to university or college, or it may just be you simply
registering for your personal PD sessions. I would encourage you to look at some of the PD sessions we are hosting.
We are sponsoring two days on Wealth Management. If you have been thinking of integrating
Wealth Management as one of your core services you should consider the
September 7th day. If you
already offer this service; September 8th is the day for you. We also have Chris Frederiksen speaking on, "Driving Revenue" in Ottawa, Toronto and
Hamilton. Over the next couple of weeks,
I would really encourage you to think about where your practice is going; what
one goal do you have for your firm before the end of 2010 and how you are going
to achieve it.
"The method of the enterprising is to plan with audacity and execute with vigor." Christian Nevell Bovee
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Using
Social Networking Tools to Brand Your Company By Marc
Belaiche, CA
With
significant growth the last few years in the social networking arena, now is a
great time to use these tools to brand your company, particularly when trying
to attract job seekers to apply to your open positions.
Regardless
of whether your organization currently has significant brand recognition or
you're just beginning to build your brand, using social networking tools lets
job seekers know about your company which in turn should help attract the best
candidates.
There are
many social media avenues available that have become more prominent in everyone's
daily lives. The major ones are Facebook, LinkedIn and Twitter, although others
such as YouTube, blogging, and podcasting all represent possible ways to reach
out to potential candidates.
Here are
some tips and information on using these tools to brand your company.
Post open positions
Advertising
open positions through these many possible channels can greatly enhance your company's
visibility in the marketplace as well as cast a net to possible job seekers who
otherwise might not know about you.
Examples
of possible ways to advertise positions through social media include:
- Create
a company group in Facebook and/or LinkedIn where people can become fans or
members of your company. Once you have started to build up a group, you can
send announcements to them about current job postings, open houses, and events.
- Place
a link to the positions in your "Status update" section in LinkedIn or Facebook.
- Post
positions on a job board within a LinkedIn group specifically targeting the
types of candidates you are looking for.
- Include
a link to the postings as a "tweet" from your Twitter account.
- Add
a status update in your personal Facebook and/or LinkedIn profiles so your
friends will be able to see the postings.
- Check
out Facebook's "Marketplace" section where open jobs can be posted. |
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| Wealth Management -
Sometimes Coaching means Coaxing Clients
Paul Tyers, CA, CFP, CIM
VP, Professional Services, Assoc. Portfolio Mgr
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Clients' interest comes first
One only has to read Michael Lewis' recent book The Big Short to understand
the difficulty most of your clients have in preserving their wealth, much less
growing it to meet retirement and other goals. Simply put, the deck often
appears stacked in favour of the house (the financial services companies) with
the interests of the clients taking second place. Is this a U.S. phenomenon
only? Not really.
Ever since my first audit role in public accounting. I've observed the
sales and trading culture of the brokerage community. Not that the culture is
anti-client, but it often seems to place the firm and their employees first and
the customer second. At the root of this bias is the remuneration system
focused on commissions. But, you may ask, isn't the world of commission
compensation disappearing?
According to a 2010 special report by consulting firm Investor
Economics, the first managed (or fee-based) accounts were introduced in the
U.S. by E.F. Hutton in 1974. Yet, it took
until almost 2000 for fee-based accounts to appear on the Canadian
brokerage scene. By the end of 2009. fee-based assets accounted for a rather
modest 25.1 percent of the total client assets on the books of these firms. So
commissions remain a critical form of financial advisor remuneration and
unfortunately. this can create an incentive for excessive trading and turnover
- the antithesis of a sound approach to long-term investing.
Fiduciary investment advice
While accountants are typically their clients' most trusted financial
advisor, they usually don't have the hands-on experience and the necessary
securities licensing to provide investment advice. So what investment advisers
will place their clients' interests at
the forefront? Accountants ! should seek out investment specialists who have a
fiduciary responsibility to put clients' interests first. In Canada,
discretionary portfolio managers - who are typically remunerated by a fee as a
percentage of assets being managed and not commissions - fit this requirement.
(In the interest of full disclosure, my firm is in this category).
Restrictions?
As mentioned earlier, no two clients' financial circumstances are
identical, but in most cases your best clients will have their wealth dispersed
across more areas of their balance sheet than simply their portfolios. Furthermore, as
your
clients move through life the makeup of their wealth will change - with the
need for more liquidity and diversification as they approach retirement. True
wealth management needs to take a broader view than simply your client's
portfolio investments.
Most of us remember the old saying "a dollar saved is a dollar
earned." This saying tics directly into one of the key roles that accountants
can actively provide in their clients' wealth management - saving taxes - often
a client's major personal expense.
Information
sharingAn integrated wealth management model is grounded on client information
being shared with key professionals on the wealth management team. For
example, when the estate goals of clients
are understood by all team members. strategies can often be employed to reduce
a client's ultimate tax bill through an estate freeze, gifting strategies or
other mechanisms. For the complete article, please download here. |
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| Fall Conference -
Las Vegas
| We are recommending that 2020 Canada Members attend November 17 & 18, 2020
Las Vegas, NV
2020 Canada Members are being offered the full 2 day seminar rate at the early-bird rate of $295 with rooms at the 5 Star Wynn Hotel for $119 per night! To obtain this price for the Resort Room, you must call the hotel directly at 1-877-321-9966 and use the Promo code "8SOU1110". With return fares from Toronto at approximately $550 and from Vancouver for as low as $320, you can get 2 full days of PD from some of the best speakers in the US, as well as 4 nights in Vegas, for under $800 plus your flight. 2020 Canada can't run a conference of this scope for that price. On the Friday morning, Chris Frederiksen will be conducting the "Driving Revenue" seminar with 2020 members from across the US and Canada. Please contact Peggy for more registration information |
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