Vulnerable Investors / Elder Abuse report proposes Walrus Should Help the Oysters May 8th

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Should the sole recipient of an estate be the executor too? + MORE Mar 27th

Q. I am 68-years-old and in good health, and am planning to leave my money to my grandson. He is 20 years old, very good with money, and has common sense. I had asked my son to be the executor of my will but that was before I decided to leave my money to my grandson. I have now decided to leave bot.... More »

Immigrants face financial, emotional ruin as plans to resettle in Canada are clipped by COVID-19 - CBC.ca Dec 20th

Immigrants face financial, emotional ruin as plans to resettle in Canada are clipped by COVID-19  CBC.ca.... More »

We are in possession of a working Xbox Series X - Ars Technica Sep 23rd

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Money Matters: How do we close the gender wealth gap? + MORE Jul 27th

In our 12-part video series, Money Matters, we interviewed the top voices in Canadian personal finance about money issues that affect all Canadians. For our second video of the series, we asked: How do we close the gender wealth gap? Listen to what some of our partners have to say. Watch: Money Ma.... More »

Financial planning in your 70s Oct 7th

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FAIR and the Canadian Centre for Elder Law should have taken the advice of the eldest oyster in the Walrus and the Carpenter poem from Lewis Carroll’s timeless classic book Alice In Wonderland. Instead of listening to elders however, they have adopted the role of busybodies delivering investors further into the hands of the main perpetrators of elder abuse, the financial “advisor” industry.Why is their report on Vulnerable Investors so problematic? What could be bad about asking securities regulators to force the investment industry to prevent abuse of “vulnerable” investors?#1 Absence of fiduciary duty by financial advisors – For the vast majority of investors (the exception being the minority who have turned over discretionary trading power to Portfolio Managers), financial advisors do not have to put the interests of investors only and strictly above their own interests. Almost all financial advisors are in effect salespeople who only have to abide by the weak suitability standard. Why would we want to trust them to suddenly begin acting for the best interest of investors who in addition happen to be vulnerable? It’s a bit like being worried about foxes (untrustworthy family members or false friends) abusing the chickens and asking the wolves (financial advisors) to do the protecting…

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