Archives
Hot Off the Web- February 18, 2013
Contents: Better diversification? Powers of Attorney, why bother with Canadian mutual funds? ETFs to replace mutual funds, US estate tax for Canadians, Shiller: home not an investment, Florida #1 in foreclosures, US vulture fund bondholders of Nortel want quick trial in US, Ottawa inaction on BIA pension priority responsible for Canadian pensioner victimization, impossible for […]
Hot Off the Web- February 11, 2013
Contents: Yes to statutory fiduciary requirement for advisers, no TIPS for inflation protection, new Vanguard international ETF, growing ETF proliferation and complexity, fixed SPIA and stocks comprise retirement income efficient frontier, US real estate optimism might be premature, small town benefits for Canadian retirees, Toronto house prices up YoY but…, Indalex pensioners struck down by […]
Fiduciary – Response to “CSA Consultation Paper 33-403 – The Standard of Conduct for Advisers and Dealers: Exploring the Appropriateness of Introducing a Statutory Best Interest Duty When Advice is Provided to Retail Clients”
In a nutshell A fiduciary duty requires the fiduciary to place the interests of the client ahead of one’s own. Consider fiduciary in the context of the ancient wisdom of the Bible which very sensibly suggests not placing an obstacle before the blind. In the financial adviser context, not placing an obstacle before the blind […]
Hot Off the Web- February 4, 2013
Contents: Judicious disputing of credit card charge a powerful tool, bond risks, RRSPs about tax brackets, mutual fund considerations- but why bother? dual registrants: fiduciary or not? US home prices up YoY but down MoM due to seasonal effect, Canada’s bankruptcy laws flawed but lawyers happy, shared risk pension plans, expanded CPP: better to proceed […]
Hot Off the Web- January 28, 2013
Contents: Mass market advice, target-date funds suitable default? structured notes warning, Canada home prices decline, Toronto sales off 50%, Vancouver second least affordable in the world, Palm Beach County and Florida home sales and prices up, Ontario approves Nortel pensioners’ move to LIFs, Nortel creditors mediation-failed, required assets for retirement income stream, stagnant middle class? […]
Hot Off the Web- January 21, 2013
Contents: Vanguard’s record inflow, index funds beat market with securities lending, some Canadian retirements built on house of cards? RRIF before 71? lessons of unexpected death, retirement pre list, Canada: house sales drop 17% -prices highest in the world-lower house prices would be better, Palm Beach County house prices up 35%-unlikely, mass customization of pensions […]
“Meeting the global challenge of funding retirement” –Highlights of Robert Merton’s CFA Institute seminar
In a nutshell- In this 90 minute CFA Institute seminar, Nobel prize winning Professor Robert Merton tackles some of DC pension plans’ well known but unresolved deficiencies in a holistic approach to the mass/working class pension. He sets the stage by pointing out that, in the shift from DB to DC average workers were by default […]
Hot Off the Web- January 14, 2013
Contents: Unfair share of the mutual fund industry, VWO shift to FTSE starts, humans tricked by their minds on compounding, HNWI heavier users of ETFs and ‘core-satellite’ strategies, new Canadian tax numbers, zombie: horror stories of uncompleted US foreclosures, new US mortgage rules, Blackstone buys houses to rent, pension start at 80? UK employers responsible […]
Hot Off the Web- January 7, 2013
Contents: What’s enough? 2013 money moves, “but where are the customers’ yachts”? making estate planning a priority, online vs. brick-and-mortar advice? deferred interest cards, US house prices up YoY, Toronto condo inventory up but number of under-construction skyscrapers highest in NA, model-based home appraisals deficient, demographics driven housing prices, consider an “expanded-CPP Plus”, ‘bogof’ (buy […]
Expanded-CPP Plus
In a nutshell -An expanded-CPP, let’s call it expanded-CPP Plus, may in fact be a good framework for Canada’s pension reform. If one expands options beyond the dimensions (maximum pensionable earnings and percent benefits) currently under consideration, and one changes some of the other attributes of an expanded-CPP relative to the current CPP, profound changes to Canada’s […]
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