Last April, I posed the following question publicly on my social media accounts: "If you could buy $32,000 of RRSP contribution room, how much would you pay for it? Less than $4,000? Or more than...

At the death of one spouse, the surviving spouse can transfer the assets within the deceased spouse's TFSA to their own TFSA – by being named either the successor account holder or the beneficiary –...

Want to put money away for your kids or grandkids? Good for you. You’ve got a few options, but today I want to talk to you about “In-Trust-For” or “ITF” accounts – and some hidden dangers you may not...

Getting income taxes right in retirement can be stressful. While we are working, our employers generally do a good job of making sure our tax withholding matches our tax liability. But it is trickier...

Following, you'll find a link to my comprehensive TFSA "Wiki Page". I update this post annually covering their history, basics, and how they can be used for various financial goals. Key points...

Putting numbers to CBC Market Place's Hidden Camera report on the big Canadian Banks. A 10% guaranteed return is nonsense and here's why...

Did you know you can create your own defined benefit pension? If you’re an incorporated business owner or professional – like a physician - you can create an Individual Pension Plan (IPP). Sometimes...

Many people dislike RRSPs, yet love TFSAs. Those people would be surprised to know that the after-tax outcomes of both plans are nearly identical over long periods of time.  Let's break it down. ...

“In this world nothing can be said to be certain, except death and taxes.” – Benjamin Franklin While death and taxes may be certain, the variables in and around them are certainly not. That’s why...

The Canada Revenue Agency says the TFSA is tax-free, but the IRS says it’s not. In the best-case scenario, if an American invests in a TFSA, and they have unused foreign tax credits on their U.S....

My podcast-partner, Justin, was on vacation on week in April, so I invited my friend, financial educator Jason Watt onto the podcast to expand a bit on his series of short TikTok videos around the...

In my previous article entitled "Why Performance Fees are a Scam (https://www.fpcollective.ca/why-performance-fees-are/), I discussed why performance fees are both harmful and unnecessary. I conclu...

Canadian small business owners have a few options when it comes to the structure of their business. A corporation can have many advantages, but it also introduces new complexity. In this article, I...

For many clients, comprehensive financial plans provide a valuable analysis of their entire financial picture and a roadmap for the future. But for those who find the larger financial planning...

Meet with PWL Capital: https://calendly.com/d/cpws-jyp-znpPeople like to complain about CPP, but it is one of the most valuable retirement assets available t...

Performance fees, which have predominantly been associated with the hedge fund world, have become increasingly common in the retail fund industry worldwide. Ostensibly, performance fees benefit...

Explore curated Canadian financial insights! Our platform aggregates content from top financial planning creators nationwide, keeping you informed effortlessly.

There’s a hidden danger, lurking in the shadows, waiting to ambush your retirement plan. What is it? It’s called “sequence of returns risk”, or SORR for short. Here’s how it works, and how to catch...

There are many reasons you may travel to another country. While most do so to vacation, others will travel to attend school, seek medical treatment, or for temporary or permanent employment. Whatever...

Did you know there are an estimated 800,000 Canadians that live in the United States? Many of them are likely to have left after spending a number of years in Canada working and building up their...

A couple that I spoke to last week are considering selling their country home that sits on a large property. They understand that the gain on principal residences is sheltered by the principal...

Summer is sacred in Canada, and for many families, summers include a family cottage, cabin, or camp, stuffed with memories and nostalgic knickknacks. No matter what name you gave the place where your...

If you've worked in Canada you're keenly aware of the Canada Pension Plan (CPP). The CPP is great pension that nearly all Canadians have access to. But what happens to your CPP if you leave Canada?...

What is the first thing you think if I were to ask you how you can make a big social impact? Are you picturing a bunch of wealthy philanthropists at a black-tie fundraising event with an oversized...

On May 6 of 2024, the Financial Services Regulatory Authority of Ontario (FSRA) released the Final Order (https://teao.fsrao.ca/en/enforcement/2742) in case where an insurance agent sold policies...

When deciding who to appoint as your executor, you’ll likely want a detail-oriented person with a good blend of strong financial and emotional acumen. Maybe the choice is obvious – but maybe such a...

This excellent article from CBC Marketplace highlights the pervasive sales culture at those institutions: https://www.cbc.ca/news/business/marketplace-hidden-camera-banks-1.7142427 The article...

Canadian wealth management is 20 years behind.  It was estimated that at the end of 2022 only 15.5% of investments are in passive investments.

FPC Contributors have had much to say about the 2024 Federal Budget, and much more will be coming. This will have implications for real estate sales, investing in corporations, estate freezes,...

With most households with more than 1 child now being able to have a household income of over $200K and qualify for some amount of CCB - it's prudent for advisors & accountants to take this governm...

Could embracing AI and specialized knowledge be the game changer for today's financial advisors? In this power-packed episode, we're joined by Jason Pereira, a seasoned financial planner and techno...

With Canadians living longer and healthcare costs on the rise, it’s no wonder retirement is a centrepiece of financial planning conversations. But while the vast majority are on the well-worn path of...

Aravind details a common misunderstanding that advisors and planners only "manage investments". Check out his short post on some of the other areas that financial planning involves and a sneak peak...

The Federal Budget 2024 included a provision for raising the inclusion rate of Capital gains for individuals as follows:

It’s anyone’s guess how FSRA thinks this move will protect consumers or the integrity of this framework. *note the article is behind a free registration wall. Title protection in Ontario is a failure...

Artificial intelligence represents the most transformative technology we have seen since the internet and will forever change our industry. How should you look at this threat and opportunity? What...

The 2024/25 New Brunswick budget is pretty light on personal tax measures, and has no changes to personal or corporate tax rates https://www.ey.com/en_ca/tax/tax-alerts/2024/tax-alert-2024-no-17?

Whenever retirees hear the word “probate” they immediately feel the urge to avoid it at all costs. This may cause them to take steps that they believe are harmless and will allow them to avoid this...

“I know you don’t have a crystal ball, but what do you think will happen in the market?” 1. I can't tell you, 2. nobody can 3. I won't pretend to

CBC Marketplace recently released a scathing report on the sales tactics used by the big Canadian banks. Here are 5 questions you must get answered to make sure you're getting trustworthy advice: 5...

Justin talks CDRs… Canadian Depository Receipts, a twist on the old ADRs (American Depository Receipts). The conversation concludes with a discussion about Old Age Security Clawback: what it means,...

On March 28th, 2024 the CRA announced that Bare Trusts are exempt from the new trust reporting requirements for the 2023 Tax Year. While on its face this may come as a relief, the announcement has...

For Christians - Easter is symbolic of freedom. However - Christians still have certain rules they follow. Aravind compares and contrasts how many of our life and personal finance choices follow a...

Tim Kane at MyHSA explores the ins and outs of Health Spending Accounts (watch for US articles here - American HSAs are a substantially different tool than Canadian HSAs). There has been much concern...

In this episode of Financial Planning for Canadian Business Owners, Jason talks to Richard Parker, owner of the Diomo Corporation. They delve into the critical aspects of buying and selling busines...

Spousal RRSPs come up a lot in client conversations and financial plans, and I find them to still be very much misunderstood, both in terms of their purpose and how to properly set them up and...

Benjamin Felix & Aravind Sithamparapillai discuss the benefits of paying into CPP as an incorporated business owner while also challenging the assumption that the cost of CPP for an incorporated...

I recently returned from the FTA's annual conference. This year's conference was in San Diego, a wonderful location. It's my second time attending this conference live, and I learn more here than at...

The changes that have been announced to capital gains taxes have some Canadians wondering if they should give or sell properties to their adult children now to avoid higher taxes in the future.  They...

FP Collective Member Natasha Knox (https://www.alaphia.ca/) runs a therapy-informed financial planning practice, a rare model in Canada. Natasha is a renowned expert in human-first financial planni...

In today's episode, I answer your questions, including answers to the following: 1) CPP vs OAS deferral - which one to defer to later? 2) I want to learn more about income investment strategies....

This week we covered a variety of topics, from adding adult kids to your investment accounts, to how you can magnify your social impact regardless of your income level. View the weekly round-up...

One of the most common ways advisors and financial planners introduce themselves to prospective clients and explain their business is around how they’re compensated. Whether it be fee-based or...

Podcast describing consequences of late filing. CRA. Canada.

Continuing my series on FSRA's decision against an insurance agent who sold 59 policies despite a lack of an insurance license (https://teao.fsrao.ca/en/enforcement/2741) let's have a look at what an...

Employment law is one of those areas where financial planners occasionally come across questions, but seldom have a great set of answers on hand. This resource https://canadianlabour.ca/employment-...

Jason Pereira, senior partner & financial planner at Woodgate Financial, and Brian Portnoy, Shaping Wealth founder, join CNBC's Bob Pisani on 'ETF Edge' live from the ETF Exchange conference in Miami...

This was a hard post to write. I almost didn't write it in fact. I've started and trashed this story many times. But I believe there are important lessons in this story we can learn from. Warning:...

Aravind detailed his thoughts about fixed hurdle rates in private credit and why they cause him to raise an eyebrow given the way interest rate environments are variable. A hurdle rate that may have...

The Windfall Elimination Provision (WEP) is a federal law that affects the Social Security benefits of individuals who receive pensions from jobs that were not covered by Social Security. Similarly,...

How digitally intimate are you with your potential and current clients?What kind of digital intimacy experience are you creating for them? Join us as we discuss this fun yet compelling topic with...

Winning in investing is being able to continue. Protecting your money so that you can live your life's purpose. It's not about fast money.

The End of History Illusion discounts how much our lives will change in the future - this can make planning too rigid if left unchecked.

Kevin Mulhern moderated a thought-provoking discussion at the Social Audio Experiment Stage with Joy Lere, Greg Bartalos, and Jason Pereira. They delved into a recent study conducted by Broadridge in...

Whether it’s annual, quarterly or more frequently – there is one thing that is persistent in this industry – the need advisors and firms feel that they need to write an investment commentary report....

Aravind (Along with some other notable FP collective members including Mark McGrath, Ben Felix, and Tim Lew) broke down the new capital gains inclusion rate for corporations & trusts and what the...