Page 5 - Newcom

MARCH 2020 | VOL.23 / NO. 02 | ADVISOR.CA
Advisor Group/Groupe Conseiller consists of Advisor’s Edge, Advisor.ca, Advisor to Go, Conseiller, Conseiller.ca and Conseillers en Direct. Advisor’s Edge is published by Newcom Media Inc.
Editorial
Melissa Shin Mark Burgess
Gil Martinez Michelle Schriver Katie Keir
Contributors
Editorial Director Managing Editor
416.847.8305, markb@newcom.ca Art Director
416.847.8535, gil@newcom.ca Assistant Editor
416.847.8176, michelle@newcom.ca Research and Special Projects Editor
416.847.5116, katie@newcom.ca
Kristen Chew, James Dolan, Susan Goldberg, Jamie Golombek, Margaret O’Sullivan, Al Rosen, Mark Rosen, Allan Tong, Mark Yamada, Suzanne Yar Khan
Sales and production
Stefanie MacDonald Julia Sokolova
Anna-Christina Di Liberto Kathy Liotta Aline Kirimli Vivian Tse Andrea Martin
Managing Director and Group Publisher 416.847.8575, stefaniem@newcom.ca
Director of Sales
416.847.5125, julias@newcom.ca
Director of Content Solutions 416.847.8154, annachristina@newcom.ca
National Account Manager 416.847.8546, kathyl@newcom.ca
Sales Coordinator
416.847.8180, aline@newcom.ca
Sales and Product Coordinator 416.847.8193, viv@newcom.ca
Custom Content Manager 416.847.8571, andrea@newcom.ca
Editorial advisory board
David Wm. Brown, Al G. Brown and Associates; Darren Coleman, Raymond James; Cindy David, Cindy David Financial Group; Janine Guenther, CIBC Wood Gundy; Elizabeth Hamilton-Keen, Mawer Investment Management; Cynthia J. Kett, Stewart & Kett Financial Advisors Ltd.; Keith Masterman, CI Investments; Nicholas Miazek, Scotia Wealth Management
5353 Dundas Street West, Suite 400, Toronto, Ontario M9B 6H8 416.614.2200 • 416.614.8861 (fax)
Jim Glionna Chairman and Founder Joe Glionna President
Subscriber services
A one-year subscription to Advisor’s Edge includes six issues. Subscription price per year is $72.00; outside Canada per year is US$148.00. Single copies can be purchased for $15.00. Visit advisor.ca/subscribe, email tcmcontact.ca@kckglobal.com or call 1.866.453.5833 for subscription inquiries.
Mail Preferences: Occasionally we make our subscriber list available to reputable companies whose products or services may be of interest to you. If you do not want your name to be made available, please contact us at tcmcontact.ca@kckglobal.com or call 1.866.453.5833.
Advisor’s Edge receives unsolicited materials (including letters to the editor, press releases, promotional items and images). Advisor’s Edge, its affiliates and assignees may use, reproduce, publish, re-publish, distribute, store and archive such submissions in whole or in part in any form or medium whatsoever, without compensation of any sort. This publication may make available certain information related to various professional fields such as (without limitation): law, accounting, financial planning, philanthropy and other related matters (“Professional Information”). The Professional Information provided should not be interpreted as professional advice and does not replace the opinion of a qualified professional. From time to time, editors may have a position in the securities mentioned.
Postmaster
Please send address changes to: 37 Front Street East, Toronto, ON M5E 1B3
ISSN number: 1490-814X Canadian Publications Mail product. PM 40063170
Printed in Canada by Transcontinental Interweb 1603 Boul de Montarville, Boucherville, QC J4B 5Y2
Copyright © 2020 by Newcom Media Inc.
All rights reserved. May not be reprinted without permission.
contents
IN EVERY ISSUE
6EDITOR’S 9SMALL
28 C L I E N T CONFIDENTIAL
Cave diver Jill Heinerth talks death and taxes
NOTE
What cheap investing ETFs get behavioural,
means for Canada
and financial planning professionalizes
TALK
march 2020
ON THE COVER
Client coaching for the 24-hour news cycle p. 18
FEATURES
12
AN EXECUTOR’S LIFE
What is a no-contest clause,
and what do executors need to know?
22
KEEPING UP
WITH INSURANCE INNOVATIONS
Data and personalization are changing the business. Where does the advisor fit in?
25
THREE EXPERTS
In the first of a four-part series, advice for a young couple with real estate dreams
and a baby on the way
COMMENTARY
TAX COURT 13
A part-time advisor’s “staggering” expenses
ESTATE PLANNING 14
New trust reporting and disclosure rules are coming
ACCOUNTING 16
Navigating cash takeover offers for shares
PROXY VOTING 17
ETF growth is building proxy power for passive managers
16
25
55
COVER IMAGE AND THIS PAGE, TOP AND BOTTOM: ISTOCK PHOTO. THIS PAGE, MIDDLE: GETTY IMAGES.