Last year, regulators announced the Client Relationship Model - Version 2 (CRM2), which included a key requirement that financial advisors explicitly disclose all investment fees charged to clients. The regulation, which went into force in July 2016, is required to be implemented by all financial advisors by January 2017.
We’re just days away from a new year, and we’re looking forward to everything 2017 has to offer. As we approach the end of 2016 and reflect on the past year, we’re looking back on our blog and some of our most popular posts, top news stories, and the biggest trends of 2016.
In the not too distant future of drone-delivered shipments and self-driving cars, the way in which we invest is going to change, too. The current landscape in Canada for getting advice and managing investments is out-of-date and is a huge cost to investors and the country. But there are changes happening now that are paving the path for a new way to save, one where efficiencies, quality, and customization will change the industry and create better financial security for Canadians.
When I first interviewed with Invisor, I was looking to get out of corporate politics. Right off the bat, the guys at Invisor seemed like straight shooters, and like they’d cultivated a good work environment. The product Invisor offers is also leagues beyond what I had recently been pitched at banks and from a family financial advisor, so this intrigued me. From a developer’s perspective, I knew being focused on a single project would allow for more creativity and brainstorming. It’s not always about getting a micro site out the door. Instead there are constant discussions about how to make the experience better.
Programming is like art and engineering combined. It requires vivid imagination and, at the same time, following well laid out practices.
When it comes to your financial goals, there should never be any blind spots. While making decisions around specific goals will put you on the path to reaching these goals quicker, there’s a lot to consider when it comes to your investment and insurance situations. This can make it difficult to visualize how your financial strategy will fit into your life goals, and vice versa.
As a young twenty-something, navigating through some of my adult-firsts has been interesting. Career-building, house-shopping, figuring-out-life-ing. There's a lot to think about when you're trying to build a solid foundation for yourself, and a significant part of my new-adult efforts have been focused on saving money and building financial independence.
In my career before Invisor, I worked in a bank branch selling mutual funds to clients. Those funds would typically charge around 2%. What that meant was that on average, those funds underperformed the market by 2%. But at the time the market was doing well, and we were a reputable brand so nobody seemed to mind the cost.
The phrase stuck when Tom Brokaw published his 1998 book about the generation that lived through the great depression, fought in World War II, and ushered in an era of productivity, opening the door to the affluence we enjoy today.