Developing Trust in the Financial Advice Sector: Education and Enforcement Demanded

Is more regulation needed to protect consumers from unscrupulous tax and financial advisors? That was the subject of KBR’s July poll, and it’s clear that to industry professionals, the answer isn’t so black and white. Our readers agree it’s a problem, but the solution falls somewhere between simply answering “yes” or “no.”

Know Your Cross-Border Client: Avoiding Tax Consequences and Liabilities

Canada-US relations have been strained for a variety of reasons, but recently private business owners received what could be a very costly surprise. New guidelines outlined by the I.R.S. for the Transition/Repatriation Tax will take a toll on Canadians with U.S. or dual citizenship who have businesses incorporated in Canada: expect to owe even more tax.

Relationship Management: Advisory Can Help Feuding Couples

A recent Fidelity Investment report points out that debt is one of the biggest issues that drives couples apart, with 36 percent saying that money is their biggest marital hurdle. But many couples also struggle to communicate about financial matters that could lead to repercussions down the road. The help of astute tax and financial advisors is critical.

Cyber-Attacks Increase 80%: Dr. Michael Geist Addresses the Risks at DAC

Cyber-security has been the subject of daily political news on the world stage, but it hits close to home, too. In 2017, the Federal Conduct Authority (FCA) in the U.K. reported that cyber-attacks in the financial sector increased by 80 percent. Managing this critical risk is the subject of a riveting keynote at this fall’s Distinguished Advisor Conference (DAC) in Quebec City by esteemed columnist and Internet and E-Commerce Law Research Chair, Dr. Michael Geist.

Value-Based Education Matters to Advisors: Invest in Summer Training

According to this year’s Report Card on Banks from Investment Executive, tax and financial advisors place significant value on professional education, and have increased job satisfaction when ongoing educational opportunities are provided to them by their employers. This comes as no surprise at a time when it’s becoming more important than ever to transition from transactional processes, to holistic advice- and relationship-driven practices.

Solving the Unethical Advisor Dilemma: Higher Standards for Education Credentials Needed

The debate is on for our July poll, with respondents split down the middle on whether or not more regulation is required to protect consumers from unethical tax and financial advisors. Many commenters agree that unscrupulous practices are an issue, but what’s the answer? Some believe the solution lies in higher educational standards. Share your thoughts!

Bank of Canada Increases Interest Rate to 1.5%

Bank of Canada raised its benchmark interest rate to 1.5 percent (up from 1.25 percent) as anticipated, in an announcement from Governor Stephen Poloz this morning.
 
 
Knowledge Bureau Poll Question

Are consumers expecting more specialized knowledge and advice in their relationships with tax and financial advisors?

  • Yes
    34 votes
    89.47%
  • No
    4 votes
    10.53%