4/23/2010
INVESTOR ADVOCATES RESPOND TO POS CONTROVERSEY
From coast-to-coast, advocates of investor education have sharply reacted to the discontent shown by the mutual funds sector over the proposed POS disclosure obligations.
“Investors want to be able to make informed decisions and require information before they buy, like every other product,” says Ken Kivenko, president of Kenmar Associates in Toronto. “These investments are their life savings.”
He says the POS initiative as it stands doesn’t cut the mustard but “if the CAS listen, it could be a real positive for small investors.”
Kivenko says the mutual funds industry treats advisors as their customers instead of investors. He says if this continues it can “ultimately destroy the industry.”
POS is just a small movement to help investors not a looming disaster for manufacturers and sellers of mutual funds, says Mike Macdonald, vice president, consulting, Weigh House Investor Services in Burlington, Ontario. He broadsided the media machinery for “protecting the status quo” while stressing the need for regulators to push forward.
Read entire article:
http://www.advisor.ca/advisors/news/regulatory/article.jsp?content=20100421_142803_6012
Advisor.ca
Vikram Barhat
April 21, 2010
MCCARTHY: BMO, AIG INTEGRATION SEAMLESS
It's been a year since BMO acquired AIG Life of Canada and going by what Peter McCarthy, president and CEO, BMO Life Assurance Company, has to say, it is a marriage made in heaven.
"It's been a very good acquisition both for the bank and for those of us at the insurance company," says McCarthy. "Insurance is one of the pillars of a good financial plan, protecting your assets and protecting your families."
He says the difference between the two organizations lies mainly in their respective cultural backgrounds.
"Both companies were large international companies operating across the world. In this marketplace the scrutiny of public companies is high, so while there was a cultural difference - mostly American versus Canadian as opposed to corporate – I'd say it was much more similar than you would imagine," he said.
The adjustment, he says, "has been very good" and the "acquisition enjoyed a very high support throughout BMO."
Read the entire article:
http://www.advisor.ca/advisors/news/industrynews/article.jsp?content=20100422_111531_10204
Advisor.ca
Vikram Barhat
April 22, 2010
4/22/2010
THE REAL SECRET OF THE RICH
If you’ve ever suspected that the rich have access to a closely guarded investment secret the rest of us aren’t privy to, you’re right. But it may not be what you think. There’s no magic investing formula that’s revealed after you make your first million, or a network of sophisticated insider trading intelligence that’s hidden from the rest of us. Rather the rich have access to the rarefied world of the private investment counsel. In this world your investments are personally handled by highly qualified and responsive investing experts, who carefully follow your direction and report back regularly. And believe it or not, the fees are often much lower than what you’re paying now.
Hiring an investment counsel is often considered the next logical step after you’ve worked with a broker or financial planner to grow your portfolio to seven figures. But if you haven’t heard of them, we’re not surprised. Most purposely keep a low profile. In their world, business is built on word-of-mouth, performance speaks for itself, and aggressive advertising would be unseemly. “It’s not a service that’s sold,” explains a senior member of one firm. “It’s a service that’s bought."
Despite their air of exclusivity, if you’re interested in seeing what it feels like to get this financial red carpet treatment, we have good news. You can now gain access to some private investment counsel firms with an investment portfolio of as little as $500,000. That’s still a hefty nest egg, but well within reach of many middle class Canadians approaching retirement age. “It’s a misconception that it’s just for the super-wealthy,” says Warren MacKenzie, president of Weigh House Investor Services of Toronto, which helps investors select private investment counsel. Many firms are willing to take you on for even less than their stated minimums if they see a lot of potential to grow your portfolio.
What sets the counsel apart
Read the full article:
http://ca.finance.yahoo.com/personal-finance/article/moneysense/1542/the-real-secret-of-the-rich
David Aston
MoneySense
Thursday, April 22, 2010
4/20/2010
WEIGH HOUSE CERTIFIED FOR FIDUCIARY EXCELLENCE
Investor consultancy is the first in Canada to have its support services CEFEX-certified
TORONTO, April 19 – Weigh House Investor Services today announced that its investment support services have been certified by the Centre for Fiduciary Excellence (CEFEX) as adhering to the fiduciary standard of excellence. Weigh House is the first organization in Canada to achieve this independent certification.
The annual certification process required detailed assessment of Weigh House‟s operational procedures, service offerings and client files, followed by on-site interviews with key management and service delivery personnel. Weigh House is now registered at www.cefex.org where its certificate is available for viewing.
"CEFEX is a welcomed new player in the Canadian marketplace, and symbolic of a general reshaping within the global investment advisory industry," said Warren MacKenzie, president and CEO of Weigh House Investor Services. "In Great Britain, Australia and the U.S., legislative changes are planned or under consideration that will prohibit financial advisors from giving „advice‟ on investment products and then receiving commissions when clients follow that advice.
"Eventually all investment advisors will be held to the fiduciary standard, and we will look back in disbelief that we long endured a model where advisors were not explicitly required to put clients‟ best interests first," continued Mr. MacKenzie. "Until then, Weigh House represents a unique advisory channel, providing Canadian investors with independent, unbiased assessments of their current positions and straight answers on how to get to where they want to go."
Weigh House was evaluated against The Prudent Practices for Investment Support Services, part of a series of standards published by Fiduciary360 (fi360) of Pittsburgh, PA. The assessment was conducted in accordance with the International Organization for Standardization (ISO) audit process 19011.
CONSULTANT IS FIRST IN CANADA TO HAVE ITS INVESTMENT SUPPORT
TORONTO, April 19, 2010 – CEFEX, Centre for Fiduciary Excellence, LLC, has certified Weigh House Investor Services of Toronto ON for the provision of fiduciary Investment Support Services in adherence with a standard of excellence. Weigh House Investor Services (“WeighHouse”) is among the first organizations globally to successfully complete this type of independent certification process.
The Prudent Practices for Investment Support Services are part of the Prudent Practices for Investment Fiduciaries series of standards published by Fiduciary360 (fi360) of Pittsburgh, PA.
This global standard specifies how a firm can help investors and fiduciaries manage the overall investment management process, including the selection, monitoring and de-selection of investment managers as well as developing processes to implement investment strategies and fiduciary practices on an ongoing basis. The Practices have been substantiated by case law and
the legislation of the Pension Benefits Standards Act, 1985 (Canada), the Pension Benefits Act (Ontario) and the Trustee Act (Ontario).
According to the General Manager of the Centre for Fiduciary Excellence, Carlos Panksep, “Through CEFEX’s independent assessment, the certification provides assurance to investors that Weigh House has demonstrated adherence to the industry’s best practices.”
Weigh House consults with clients on a one-time and continuous basis, in a fiduciary capacity, on preparation of the Investment Policy Statement, asset allocation recommendations, due diligence on Investment Managers, fee & compensation analysis, investment performance reports, advice on investment strategies, and education.
The annual certification process involves a detailed assessment of operational data, client files and procedures, followed by on-site interviews with key personnel. The process is based on the International Organization for Standardization audit process ISO 19011.
Weigh House is registered at www.cefex.org where its certificate can also be viewed.
The Prudent Practices for Investment Support Services standard can be viewed by clicking on Weigh House’s on-line CEFEX certificate. More information on Weigh House Investor Servicesis available at: www.weighhouse.com.
About CEFEX:
The Centre for Fiduciary Excellence, LLC. is an independent certification organization.
CEFEX works closely with industry experts to provide comprehensive assessment
programs to promote fiduciary best practices. It certifies investment stewards, advisors, fiduciary advisers (PPA), managers, ASPPA recordkeepers, and support services firms. CEFEX has offices in Toronto, Canada, and Pittsburgh, PA.
The Prudent Practices for Investment Support Services are part of the Prudent Practices for Investment Fiduciaries series of standards published by Fiduciary360 (fi360) of Pittsburgh, PA.
This global standard specifies how a firm can help investors and fiduciaries manage the overall investment management process, including the selection, monitoring and de-selection of investment managers as well as developing processes to implement investment strategies and fiduciary practices on an ongoing basis. The Practices have been substantiated by case law and
the legislation of the Pension Benefits Standards Act, 1985 (Canada), the Pension Benefits Act (Ontario) and the Trustee Act (Ontario).
According to the General Manager of the Centre for Fiduciary Excellence, Carlos Panksep, “Through CEFEX’s independent assessment, the certification provides assurance to investors that Weigh House has demonstrated adherence to the industry’s best practices.”
Weigh House consults with clients on a one-time and continuous basis, in a fiduciary capacity, on preparation of the Investment Policy Statement, asset allocation recommendations, due diligence on Investment Managers, fee & compensation analysis, investment performance reports, advice on investment strategies, and education.
The annual certification process involves a detailed assessment of operational data, client files and procedures, followed by on-site interviews with key personnel. The process is based on the International Organization for Standardization audit process ISO 19011.
Weigh House is registered at www.cefex.org where its certificate can also be viewed.
The Prudent Practices for Investment Support Services standard can be viewed by clicking on Weigh House’s on-line CEFEX certificate. More information on Weigh House Investor Servicesis available at: www.weighhouse.com.
About CEFEX:
The Centre for Fiduciary Excellence, LLC. is an independent certification organization.
CEFEX works closely with industry experts to provide comprehensive assessment
programs to promote fiduciary best practices. It certifies investment stewards, advisors, fiduciary advisers (PPA), managers, ASPPA recordkeepers, and support services firms. CEFEX has offices in Toronto, Canada, and Pittsburgh, PA.
BRINGING SCIENCE TO SELLING - ACHIEVING HIGH PERFORMANCE THROUGH SALES ANALYTICS
Organizations of all kinds face numerous performance challenges today: understand and respond to changing customer needs,
support growth, improve profitability.
Leading organizations address these challenges by transforming the performance of their sales teams through a combination of art and science.
Accenture defines the “science” of sales as the use of analytics to complement the instincts, judgment and experience of their sales teams, enabling more effective, fact-based decisions.
Introduction
As the business environment grows more
challenging with each passing year,
companies of all kinds find themselves
under mounting pressure to grow and
grow profitably. Yet sales organizations—
the chief instrument for growth at most
organizations—continue to fall short. In
fact, numerous research studies indicate
that many sales organizations struggle to
master high-performance selling: having
a deep understanding of what customers
value; managing and deploying new
capabilities; hiring and developing talent;
and getting the most return on these
investments.
Accenture believes the tide is turning.
Powerful new options for improving sales
performance are emerging that enable
companies to take a more scientific
approach to selling—specifically, using
new analytical tools to complement
their sales people’s intuition, judgment
and experience and enable more
effective, fact-based decisions. Just as
analytics have helped the supply chain
and marketing functions improve their
effectiveness and efficiency, they will
now help boost sales performance.
support growth, improve profitability.
Leading organizations address these challenges by transforming the performance of their sales teams through a combination of art and science.
Accenture defines the “science” of sales as the use of analytics to complement the instincts, judgment and experience of their sales teams, enabling more effective, fact-based decisions.
Introduction
As the business environment grows more
challenging with each passing year,
companies of all kinds find themselves
under mounting pressure to grow and
grow profitably. Yet sales organizations—
the chief instrument for growth at most
organizations—continue to fall short. In
fact, numerous research studies indicate
that many sales organizations struggle to
master high-performance selling: having
a deep understanding of what customers
value; managing and deploying new
capabilities; hiring and developing talent;
and getting the most return on these
investments.
Accenture believes the tide is turning.
Powerful new options for improving sales
performance are emerging that enable
companies to take a more scientific
approach to selling—specifically, using
new analytical tools to complement
their sales people’s intuition, judgment
and experience and enable more
effective, fact-based decisions. Just as
analytics have helped the supply chain
and marketing functions improve their
effectiveness and efficiency, they will
now help boost sales performance.
Read the entire article:
Jan Van Der Linden
Accenture
Sales Transformation
4/08/2010
PENSION REFORM MUST PROMOTE CHOICE, EDUCATION
by Blake C. Goldring
April 08, 2010
The current discussion of pension reform has a certain historic echo.
Similar to the debate around Medicare in the 1960s, the future of Canada's retirement income system is garnering attention as an issue of national importance. Like Medicare, which addressed the health care needs of Canadians, the growing focus on pension reform is looking at the financial health of our fellow citizens.
The issue has triggered all sorts of public discussion, building to a fever pitch last fall at the first ministers' conference and making its way into the 2010 federal government budget; and, most recently, Ontario's budget speech. In the weeks ahead, the Government of Canada will continue to conduct public consultations as it looks for creative and innovative ways to help improve pensions for Canadians.
For full article:
http://www.advisor.ca/advisors/news/moversandshakers/article.jsp?content=20100408_125437_9332
Filed by Blake C. Goldring
Advisor.ca
04/08/2010
April 08, 2010
The current discussion of pension reform has a certain historic echo.
Similar to the debate around Medicare in the 1960s, the future of Canada's retirement income system is garnering attention as an issue of national importance. Like Medicare, which addressed the health care needs of Canadians, the growing focus on pension reform is looking at the financial health of our fellow citizens.
The issue has triggered all sorts of public discussion, building to a fever pitch last fall at the first ministers' conference and making its way into the 2010 federal government budget; and, most recently, Ontario's budget speech. In the weeks ahead, the Government of Canada will continue to conduct public consultations as it looks for creative and innovative ways to help improve pensions for Canadians.
For full article:
http://www.advisor.ca/advisors/news/moversandshakers/article.jsp?content=20100408_125437_9332
Filed by Blake C. Goldring
Advisor.ca
04/08/2010
IS BUY-AND-HOLD DEAD?
Actively Passive?
By Craig Israelsen
The issue of active vs. passive investing typically centers on the nature of the actual investment product: “Is it an actively managed fund or a passive index fund?” However, this is only one aspect of the active vs. passive debate, and presents far too simplistic a view. There is a broader, macro issue that applies to the broad portfolio; namely, “How is the portfolio of actively managed funds or index funds managed over time?”
For example, if there is a large amount of turnover in a portfolio of index funds, it is an actively managed portfolio of passive index funds. Very simply, it is an “active-passive” portfolio. By contrast, an investor who purchases index funds using a buy-and-hold approach has a “passive-passive” portfolio. In short, it is possible to be an active manager of passive funds, or a passive manager of actively managed funds.
In sum, the terms “active” and “passive” can apply to the nature of the investment instrument level as well as how the instruments are managed at the portfolio level. Thus, a die-hard index fund advocate may be “passive” at the instrument level and “active” at the portfolio management level. Conversely, an investor who utilizes actively managed funds (i.e., instruments) may be passive in his ongoing management of actively managed funds. Viewed in this way, it’s difficult to determine which investor is passive and which one is active.
Here, we explore a twist on the classic active/passive debate by presenting theoretical parameters for the best-case and worst-case outcomes when actively managing a portfolio of passive index-based instruments.
For entire article:
http://www.indexuniverse.com/publications/journalofindexes/joi-articles/7027-actively-passive.html?utm_source=newsletter?utm_medium&utm_campaign=JOI
Journal of Indexes Articles
Hanuary February 2010
By Craig Israelsen
The issue of active vs. passive investing typically centers on the nature of the actual investment product: “Is it an actively managed fund or a passive index fund?” However, this is only one aspect of the active vs. passive debate, and presents far too simplistic a view. There is a broader, macro issue that applies to the broad portfolio; namely, “How is the portfolio of actively managed funds or index funds managed over time?”
For example, if there is a large amount of turnover in a portfolio of index funds, it is an actively managed portfolio of passive index funds. Very simply, it is an “active-passive” portfolio. By contrast, an investor who purchases index funds using a buy-and-hold approach has a “passive-passive” portfolio. In short, it is possible to be an active manager of passive funds, or a passive manager of actively managed funds.
In sum, the terms “active” and “passive” can apply to the nature of the investment instrument level as well as how the instruments are managed at the portfolio level. Thus, a die-hard index fund advocate may be “passive” at the instrument level and “active” at the portfolio management level. Conversely, an investor who utilizes actively managed funds (i.e., instruments) may be passive in his ongoing management of actively managed funds. Viewed in this way, it’s difficult to determine which investor is passive and which one is active.
Here, we explore a twist on the classic active/passive debate by presenting theoretical parameters for the best-case and worst-case outcomes when actively managing a portfolio of passive index-based instruments.
For entire article:
http://www.indexuniverse.com/publications/journalofindexes/joi-articles/7027-actively-passive.html?utm_source=newsletter?utm_medium&utm_campaign=JOI
Journal of Indexes Articles
Hanuary February 2010
A STATEMENT ON OUR VALUES
Augusta chairman Payne has stern words for Woods
AUGUSTA, Ga.—In his annual news conference on Wednesday, Augusta National chairman Billy Payne took the unprecedented step of chastising the game's No. 1 player, Tiger Woods, for the recent revelations about his personal life.
At the end of a prepared statement before he fielded questions from reporters, Payne made clear his displeasure about Woods' admission of serial infidelity that led to a 45-day stint in rehab and has tarnished his previously squeaky-clean image.
"It is not simply the degree of his conduct that is so egregious here; it is the fact that he disappointed all of us, and more importantly, our kids and our grand kids," Payne said. "Our hero did not live up to the expectations of the role model we saw for our children."
Woods, a four-time Masters champion, will play this week at Augusta National for the first time since the scandal broke on Thanksgiving night when he crashed his SUV outside his Orlando home. Within days, news reports of multiple affairs surfaced amid a steady stream of salacious details.
Woods apologized for what he called "transgressions" on his web site on Dec. 2, then went into seclusion and eventually rehab. His first public comments about the scandal came in February when he read a 15-minute prepared statement in the clubhouse at TPC Sawgrass.
At that point, Woods said he would be taking an indefinite break from the game. But he announced three weeks ago that he would return to competition at the Masters and Woods has come to Augusta National several times in the interim to prepare.
His opening tee shot at 1:42 p.m. on Thursday will mark Woods' first in competition in five months. He will play with K.J.Choi and Matt Kuchar in the first two rounds.
"We are not unaware of the significance of this week to a very special player, Tiger Woods—a man who in a brief 13 years clearly and emphatically proclaimed and proved his game to be worthy of the likes of Bobby Jones, Jack Nicklaus and Arnold Palmer," Payne said.
"As he ascended in our rankings of the world's great golfers, he became an example to our kids that success is directly attributable to hard work and effort. But as he now says himself, he forgot in the process to remember that with fame and fortune comes responsibility, not invisibility."
Payne's surprisingly candid comments on Wednesday were carefully worded and delivered in a forum normally reserved for discussion of changes to the Augusta National and the club's charitable endeavors.
Payne declined to expand on other questions about Woods, saying only that security issues have been addressed and that the world No. 1 did attend Tuesday's Champions Dinner. He also noted that he's not worried about the season's first major being overshadowed by a single player.
"We are very secure in who we are, and the Masters has almost now a 74-year history," Payne said. "We just kind of do things our way. We are not threatened by other big news stories or things like that."
Payne politely refused to say whether Woods made a statement or apologized to the other Masters champions at Tuesday's festivities. Asked how the world No. 1 was received, the chairman again demurred, noting the mood is "always great" at the dinner, "always, always."
"He was at the Champions Dinner and yes, I had a conversation with him," Payne said. "But I don't want to go into detail about what it was."
Payne said he is hopeful Woods and his fans can move forward. His behavior off the course, though, may now be more career-defining than the miraculous shots Woods always seems to hit or the tournaments he will end up winning.
"Certainly his future will never again be measured only by his performance against par; but measured by the sincerity of his efforts to change," Payne said. "I hope he now realizes that every kid he passes on the course wants his swing, but would settle for his smile.
"I hope he can come to understand that life's greatest rewards are reserved for those who bring joy to the lives of other people. We at Augusta hope and pray that our great champion will begin his new life here tomorrow in a positive, hopeful and constructive manner, but this time, with a significant difference from the past.
"This year, it will not be just for him, but for all of us, who believe in second chances."
By PGATOUR.COM Staff
04/08/2010
AUGUSTA, Ga.—In his annual news conference on Wednesday, Augusta National chairman Billy Payne took the unprecedented step of chastising the game's No. 1 player, Tiger Woods, for the recent revelations about his personal life.
At the end of a prepared statement before he fielded questions from reporters, Payne made clear his displeasure about Woods' admission of serial infidelity that led to a 45-day stint in rehab and has tarnished his previously squeaky-clean image.
"It is not simply the degree of his conduct that is so egregious here; it is the fact that he disappointed all of us, and more importantly, our kids and our grand kids," Payne said. "Our hero did not live up to the expectations of the role model we saw for our children."
Woods, a four-time Masters champion, will play this week at Augusta National for the first time since the scandal broke on Thanksgiving night when he crashed his SUV outside his Orlando home. Within days, news reports of multiple affairs surfaced amid a steady stream of salacious details.
Woods apologized for what he called "transgressions" on his web site on Dec. 2, then went into seclusion and eventually rehab. His first public comments about the scandal came in February when he read a 15-minute prepared statement in the clubhouse at TPC Sawgrass.
At that point, Woods said he would be taking an indefinite break from the game. But he announced three weeks ago that he would return to competition at the Masters and Woods has come to Augusta National several times in the interim to prepare.
His opening tee shot at 1:42 p.m. on Thursday will mark Woods' first in competition in five months. He will play with K.J.Choi and Matt Kuchar in the first two rounds.
"We are not unaware of the significance of this week to a very special player, Tiger Woods—a man who in a brief 13 years clearly and emphatically proclaimed and proved his game to be worthy of the likes of Bobby Jones, Jack Nicklaus and Arnold Palmer," Payne said.
"As he ascended in our rankings of the world's great golfers, he became an example to our kids that success is directly attributable to hard work and effort. But as he now says himself, he forgot in the process to remember that with fame and fortune comes responsibility, not invisibility."
Payne's surprisingly candid comments on Wednesday were carefully worded and delivered in a forum normally reserved for discussion of changes to the Augusta National and the club's charitable endeavors.
Payne declined to expand on other questions about Woods, saying only that security issues have been addressed and that the world No. 1 did attend Tuesday's Champions Dinner. He also noted that he's not worried about the season's first major being overshadowed by a single player.
"We are very secure in who we are, and the Masters has almost now a 74-year history," Payne said. "We just kind of do things our way. We are not threatened by other big news stories or things like that."
Payne politely refused to say whether Woods made a statement or apologized to the other Masters champions at Tuesday's festivities. Asked how the world No. 1 was received, the chairman again demurred, noting the mood is "always great" at the dinner, "always, always."
"He was at the Champions Dinner and yes, I had a conversation with him," Payne said. "But I don't want to go into detail about what it was."
Payne said he is hopeful Woods and his fans can move forward. His behavior off the course, though, may now be more career-defining than the miraculous shots Woods always seems to hit or the tournaments he will end up winning.
"Certainly his future will never again be measured only by his performance against par; but measured by the sincerity of his efforts to change," Payne said. "I hope he now realizes that every kid he passes on the course wants his swing, but would settle for his smile.
"I hope he can come to understand that life's greatest rewards are reserved for those who bring joy to the lives of other people. We at Augusta hope and pray that our great champion will begin his new life here tomorrow in a positive, hopeful and constructive manner, but this time, with a significant difference from the past.
"This year, it will not be just for him, but for all of us, who believe in second chances."
By PGATOUR.COM Staff
04/08/2010
4/07/2010
DON'T FEAR HIGHER INTEREST RATES
Continued economic strengthening, concerns that inflation might rise in the future and a large amount of government debt are among the factors translating into increases in interest rates, with more likely to come.
Here are five questions that advisors – and their clients – might ask about rising interest rates:
1. Why are rates rising?
2. When will central banks raise their benchmark interest rates?
3. How long might the trend last and how high might rates go?
4. What are the economic risks surrounding higher interest rates?
5. What do higher rates mean for investors?
Read full story:
http://www.advisor.ca/advisors/news/industrynews/article.jsp?content=20100406_114242_8940
Peter Drake
Advisor.ca
Peter Drake is vice-president, retirement & economic research, for Fidelity Investments Canada. With over 35 years of experience as an economist, he leads Fidelity's research efforts in examining retirement in Canada today.
Here are five questions that advisors – and their clients – might ask about rising interest rates:
1. Why are rates rising?
2. When will central banks raise their benchmark interest rates?
3. How long might the trend last and how high might rates go?
4. What are the economic risks surrounding higher interest rates?
5. What do higher rates mean for investors?
Read full story:
http://www.advisor.ca/advisors/news/industrynews/article.jsp?content=20100406_114242_8940
Peter Drake
Advisor.ca
Peter Drake is vice-president, retirement & economic research, for Fidelity Investments Canada. With over 35 years of experience as an economist, he leads Fidelity's research efforts in examining retirement in Canada today.
4/06/2010
COACHING 'OLYMPIC CALIBER' HIGH PERFORMANCE
The purpose of all high performance coaching whether in sports or elsewhere is to build on and develop exponential growth in self confidence.
The trajectory of self confidence is an exponential growth curve similar in shape to a compound interest curve.
Great coaches understand that in preparing athletes for high performance competition the training regimen must move the athlete up the curve as high as the athlete is capable of achieving.
The purpose behind this training is to prepare the athlete to take the 'hits' that will inevitably occur and to persist inspite of the obstacles.
When an athlete has moved up the curve to a significantly high level of self confidence and is confronted by a serious setback the dynamics are similar to those of a shock absorber in an automobile when it travels over rough terrain.
The shock absorber compresses to absorb the shock and and immediately returns to its normal fully extended position.
High levels of self confidence behave in a similar fashion.
The athlete takes the hit, physical or otherwise, absorbs it and rebounds quickly to his or her normal state of self confidence.
When the stakes are high in athletics or in other pursuits the 'athlete' whose self confidence is highest will prevail - all other attributes being equal - which they seldom are.
In a financial industry where the need for the products sold is 100% and the demand is zero the presence of very high levels of self confidence is essential.
Job #1 is coaching self confidence - among those whose development matters to us.
Dan Zwicker.
Toronto.
The trajectory of self confidence is an exponential growth curve similar in shape to a compound interest curve.
Great coaches understand that in preparing athletes for high performance competition the training regimen must move the athlete up the curve as high as the athlete is capable of achieving.
The purpose behind this training is to prepare the athlete to take the 'hits' that will inevitably occur and to persist inspite of the obstacles.
When an athlete has moved up the curve to a significantly high level of self confidence and is confronted by a serious setback the dynamics are similar to those of a shock absorber in an automobile when it travels over rough terrain.
The shock absorber compresses to absorb the shock and and immediately returns to its normal fully extended position.
High levels of self confidence behave in a similar fashion.
The athlete takes the hit, physical or otherwise, absorbs it and rebounds quickly to his or her normal state of self confidence.
When the stakes are high in athletics or in other pursuits the 'athlete' whose self confidence is highest will prevail - all other attributes being equal - which they seldom are.
In a financial industry where the need for the products sold is 100% and the demand is zero the presence of very high levels of self confidence is essential.
Job #1 is coaching self confidence - among those whose development matters to us.
Dan Zwicker.
Toronto.
4/02/2010
MONEY: RETIREMENT: SUSTAINABLE INCOME: "THE UNVARNISHED TRUTH ABOUT THE 2ND 30 - 40 YEARS
This is about people, money and long term financial certainty.
The subject is simple.
Are you sure you can fund a sustainable income (no shortfalls in any year) for the 30 – 40 years you may be retired (e.g. Age 60 – 90).
WE KNOW HOW TO EARN AN INCOME FOR OUR FIRST 30 – 40 YEARS.
HOW DO YOU PLAN ON PROVIDING A SUSTAINABLE INCOME (NO SHORTFALLS) FOR THE NEXT 30 – 40 YEARS – DURING YOUR RETIREMENT?
Read the full article:
http://beyondrisk.blogspot.com/2010/02/second-30-40-years.html
MER's, FEES AND THEIR IMPACT ON YOUR CAPITAL FOR RETIREMENT
How would you like to make an extra $640 per year? If you have $100,000 in mutual funds, there’s an easy way to do just that, while annoying your adviser, all at the same time. Namely: the Mutual Fund Maximizer, offered by Questrade. The service was launched back in 2009, although I’ve only now learned about it.Details can be found here.
If you have no idea how your advisor gets paid, chances are they are commission-based. What that means in plain English is that they earn a fee, paid to them by the fund manager, that comes out of your portfolio. For equity or balanced mutual funds, this trailer fee typically ranges from 0.5% to 1% of the fund value, depending on whether you bought a back-end* or front-end load fund.
For the full article:
http://weighhouseblog.wordpress.com/2010/03/26/clickworthy-an-easy-way-to-reduce-the-mer/
Dan Zwicker.
4/01/2010
A CONTRARIAN VIEW OF THE CONFLICT OF INTEREST IN THE FINANCIAL SERVICES DISTRIBUTION PARADIGM
Here are 2 key questions to ask your investment advisor:
1 - What is the optimal amount of capital I can expect to have available for retirement at age 60?
2 - What 'sustainable' income can I expect the above capital to generate between the ages 60 - 90?
'Sustainable' means with no shortfalls in income in any given year.
The financial services industry employes advisors to promote and sell proprietary products.
The compensation received by advisors varies with each of the companies with whom the advisor is licensed.
This fact creates a potential conflict of interest when advisors are deciding on which product to recommend to a client.
An example.
Assume 2 companies offer products which have identical value. Assume further that one company has a higher compensation scale than the other.
Which company will the advisor recommend?
Captive advisors (those who can only sell their own company's products) are limited in the full choice of alternatives that they can offer their clients.
How do they make their product choice decisions?
These issues can have a profound effect on the answer to the first question above.
There are excellent client centric advisors throughout the retail financial services sector. The very best reach a conclusion that the only way they can act in an unbiased fiduciary relationship on behalf of their clients is by operating their own financial planning or independent investment management firm. In this role they are paid a fee for their service with no conflicting obligation to sell or recommend any corporate products or services.
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