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FEBRUARY2021 | VOL.24/NO.01 | ADVISOR.CA Editorial
4 EDITOR’S NOTE
Financial services are vulnerable to the populists
FEATURES 6
AN EXECUTOR’S L I F E Breaking down the duty to inform
12
IS IT TIME TO ADJUST THE 60/40
P O R T F O L I O ? Examining options beyond traditional fixed income
21
THE ETHICAL ADVISOR How to handle a conflict between spouses
12
5 SMALL TALK
Understanding social finance; What drew you to financial advice?
22 CLIENT CONFIDENTIAL
A Guelph family chooses the slower life
Melissa Shin Mark Burgess Michelle Schriver Katie Keir
Editorial Director, 416.847.8308, mshin@newcom.ca Managing Editor, 416.847.8305, markb@newcom.ca Assistant Editor, 416.847.8176, michelle@newcom.ca Research and Special Projects Editor,
416.847.5116, katie@newcom.ca Contributors
Kristen Chew, Curtis Davis, Susan Goldberg, Jamie Golombek, Rudy Mezzetta, Al Rosen, Mark Rosen, Allan Tong, Mark Yamada
Editorial advisory board
David Wm. Brown, Al G. Brown and Associates; Darren Coleman, Raymond James; Cindy David, Cindy David Financial Group; Janine Guenther, Dixon Mitchell Invest- ment Counsel; Elizabeth Hamilton-Keen, Mawer Investment Management; Cynthia J. Kett, Stewart & Kett Financial Advisors Ltd.; Keith Masterman, CI Investments; Nicholas Miazek, Scotia Wealth Management
Design and production
Gil Martinez Irene Picanco Hannah Trumper
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Advertising and marketing
Julia Sokolova
Anna-Christina Di Liberto
Kathy Liotta Andrea Martin
Director of Sales, 416.847.5125, julias@newcom.ca Director of Content Solutions, 416.847.8154,
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National Account Manager, 416.847.8546, kathyl@newcom.ca Custom Content Manager, 416.847.8571, andrea@newcom.ca
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Covid-19 has changed how we talk about aging
p. 16
COMMENTARY 7
WORK FROM HOME
Claiming expenses under the CRA's pandemic rules
8
TAX PLANNING
Preparing for taxes on pandemic benefits
10
A C C O U N T I N G
Chairman and Founder President Chief Financial Officer Vice President — Editorial Vice President — Sales Director — Circulation
Jim Glionna
Joe Glionna
Trish Saltys
John G. Smith Melissa Summerfield Pat Glionna
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ADVISOR.CA 3
ON THE COVER
The problem with carbon-adjusted earnings
11
ASSET ALLOCATION
The cost of diversification in a low-rate environment