In the News
With 27 years of experience in the industry, today’s guest Rona Birenbaum explains the importance of technology in the financial services field, as well as how financial planners can stay relevant through all the changes.
According to a 2016 McKinsey report, investors may need to start lowering their expectations due to anticipated diminished returns. So, what to do? Spend less?
Robo-advisers are still a financial industry newcomer, but they’ve been around long enough to start losing clients who were unhappy with their experience. Financial planner Rona Birenbaum recently took on someone who moved some money from a full-service brokerage firm to a robo-firm, and then was disappointed not to get financial planning in addition to investment management. “This person wanted a consolidated approach and to speak to real people,” Ms. Birenbaum said.
I’m a fee-only planner who does her own plan, as well as those of other advisors. I apply the same processes and rigour to my own plan as I do to clients’.
Given that earning up to $50,000 of annual passive investment income will not be punitive, strategies that minimize income generated on a corporately owned investment portfolio, while still growing the capital are increasingly important.
For many investors, diversification is key – a mix of equities, fixed income and cash based on your risk appetite. But when it comes to investment advice, does the same approach hold true?
Advisors should be prepared to lose an account in order to protect vulnerable seniors from fraud or being taken advantage of by unscrupulous family members.
Rona Birenbaum, financial planner and founder of Caring for Clients, has first-hand experience of dealing with wealthy seniors who suffer from cognitive decline and impaired decision-making.
In Scrimp and Splurge, financial planner Rona Birenbaum looks at how Canadians make everyday spending decisions. Here she speaks with Christine Solomon, a Canadian actress whose latest work involves the movie Kids Can.
Converting 30% of your holdings to annuities is the best option for those without DB pensions.
Rona Birenbaum is Interviewed by CBC / The National: How stock market volatility could be good for you
International stock markets are increasingly volatile, but some experts suggest that rapid changes could actually be good for you. Financial planners note that stock market downturns are normal and that experiencing this amount of volatility could actually help investors from getting too confident.