The Impact of Change: Retirement Planning Services Must Evolve

The transformation of the CPP, new income splitting rules for family business and more are changing the retirement planning game, and a new study shows that clients find the most value when their tax or financial advisors make retirement-related services a priority.

The U.S. study, conducted by Greenwald and Associates, surveyed 1,000 taxpayers and 200 financial services professionals. Fifty-six percent of the participants said that clients rate advisor-provided services highly when retirement planning is a focus, versus a mere 34 percent when it is omitted from the wealth planning process, with greater priority placed on investment risk assessment alone. Volatile financial markets, uncertainty about future healthcare costs, legacy, and changes in employment and living trends for certain demographics were cited among the reasons why more people want to prioritize income generation and preserving wealth in retirement.

Ninety-two percent of Americans stated that they fear that healthcare costs could impact their financial future; while this concern may be less significant for Canadians, it’s an issue that remains relevant north of the border as well. Medical necessities not covered by provincial health care or private insurance can deplete retirement funds, and there is a greater risk for snowbirds, and those living or working in the U.S. prior to or during retirement.

In an essential session entitled “The Effect of Change on Tax-Efficient Retirement and Investment Planning,” a panel of experts at the CE Summit Workshops will help you understand the core complex, changing issues that affect retirement income, and address them so you can provide the in-demand services Canadians desire.

The impact of change, and the tax and financial implications to Canadians abroad, will also be discussed during these can’t-miss workshops by cross-border tax experts Dean Smith and C. Russell Vert of Cadesky Tax, who will be joining Evelyn Jacks at this hands-on networking event. Join us in Winnipeg on May 29, Calgary on May 30, Vancouver on May 31, or Toronto on June 6, and learn how to position yourself and members of your practice as the thought leaders Canadians are demanding, and develop best practices that address the evolving needs of taxpayers.

The deadline to register is May 30! This is your prime opportunity to register your tables of six, take advantage of special group rates, and earn up to 10 CE/CPD credits before the upcoming deadlines. All attendees will receive a copy of the Knowledge Journal, and a subscription to EverGreen Explanatory Notes (don’t forget to do the pre-reading!)

Additional educational resources:

Can’t make this Knowledge Bureau live educational event? Take a free trial in any of our continuous-intake self-study courses today (like Tax-Efficient Retirement Income Planning), and register before June 15 for special tuition offers available to new students. Or, join us this fall for the next CE Summits tour, or at the Distinguished Advisor Conference in Quebec City!

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