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NOVEMBER 18 & 20, 2015 SYMPOSIUM PROGRAM Thanks to Our Gold Sponsor Thank You to this Year’s CFP ® Professional Symposium Sponsors In October 2009, FPSC® hosted a half-day event to articulate a vision for Canada in the year 2020. Here’s what we envisioned: By the year 2020, Canada will be shaped by a nation of people, organizations and a regulatory environment that: Goals of Financial Planning Week • Raise awareness of the importance of financial planning and provoke a call to action to all stakeholders for the benefit of all Canadians • Encourage industry to promote the value of financial planning to their clients • Provide a platform for financial planning professionals to discuss the necessity and progress of a financial planning profession • Encourage consumers to take positive “planning” action • Promote the benefits of financial planning to Canadians, financial services providers and regulators • Promote the value of the CFP® designation to the industry and public Values financial planning. Shares and assumes responsibility to ensure the financial planning needs of Canadians are well served. Thank you for joining us today and contributing your part to the realization of the important Vision 2020 aspiration. Has a viable financial planning profession that ensures broad access to competent, ethical financial planners, for those who need professional advice. Website: fpsc.ca Twitter: twitter.com/FPSC_Canada Facebook: facebook.com/ FPSC.Canada LinkedIn: linkedin.com/company/ Financial-Planning-Standards-Council YouTube: youtube.com/user/FPVision2020 CFP®, CERTIFIED FINANCIAL PLANNER® and are certification trademarks owned outside the U.S. by Financial Planning Standards Board Ltd. (FPSB). Financial Planning Standards Council is the marks licensing authority for the CFP marks in Canada, through agreement with FPSB. All other ® are registered trademarks of FPSC, unless indicated. © 2015 Financial Planning Standards Council. All rights reserved. Cary List, CPA, CA, CFP® President & CEO Financial Planning Standards Council Letter from the President Welcome to the seventh annual FPSC CFP® Professional Symposium. We’re glad you’ve joined us for an exciting day of learning, sharing and connecting. This year’s theme, Trust Matters, is a critical topic for personal and professional development. Trust is the bedrock for building strong, sustainable relationships, and fundamental to the financial planning profession. When relying on a CFP professional, Canadians expect not only exceptional technical competence, but also unquestionable honesty, integrity, loyalty and respect—factors that are central in all relationships. Today’s CFP Professional Symposium offers an opportunity to explore this important topic with colleagues and experts, and I’m sure you’ll take away many practical tools that you can put to use immediately. We’ll spend some time talking about behavioural psychology, which will assist you in understanding how you can help clients transition from thought to action; we’ll be offering solutions on how to transition relationships from a transactional focus to ones with meaningful and lasting connections; and we’ll explore aspects of your duty as a professional, trusted advisor. Today’s thought-provoking speakers will no doubt generate conversations that go well beyond the end of the Symposium sessions, and that will help as you continue to strengthen the bonds of trust in your own professional practice. Enjoy your day! Agenda at a glance TOPIC brought to you by our gold sponsorship partner SPEAKER TIME Breakfast & Registration 8:30 – 9:00 am Introduction & Welcome 9:00 – 9:15 am Transitioning from a Sales Focus to a Professional Planning Practice Phil Billingham, cfp Consultant to Financial Planning Firms 9:15 – 10:20 am Break Sponsored by 10:20 – 10:30 am Why Good Clients Ignore Great Advice: Overcoming the Implementation Impasse Dr. Moira Somers, c psych Clinical Neuropsychologist, Professor and Financial Recovery Expert 10:30 – 11:35 am Issues with Trusts John Poyser ba, llb, tep Wealth & Estate Lawyer 11:35 am – 12:40 pm CIFPs Case Competition Winners Sponsored by 12:40 – 12:45 pm Lunch Sponsored by 12:45 – 1:30 pm Making Memorable Connections Bob Gray Memory Development Specialist 1:30 – 2:35 pm Break Sponsored by 2:35 – 2:50 pm Scott Stratten President of Un-Marketing and Best-Selling Author 2:50 – 3:55 pm Cary List, cfp President & CEO, FPSC 3:55 – 4:00 pm keynote: Un-Marketing 101 Wrap Up Transitioning from a Sales Focus 9:15 AM – 10:20 AM The Phil Billingham Partnership specializes in helping financial planning firms transition from the ‘old’ model to the ‘new’ model, including transitioning from a sales to relationship-focused organization with the adoption of a Financial Planning Model. Phil has been an active writer, trainer and consultant since joining the financial services profession as an adviser in 1982. He has offered presentations at conferences in the UK, Ireland, Hungary, France, United States, South Africa and Canada. Phil is an Associate of the Chartered Insurance Institute (ACII), a Fellow of the Personal Finance Society, a Certified Financial Planner® professional, and a Chartered Financial Planner. Phil Billingham, cfp Consultant to Financial Planning Firms sponsored by Why Good Clients Ignore Great Advice 10:30 AM – 11:35 AM Dr. Moira Somers Clinical Neuropsychologist, Professor and Financial Recovery Expert sponsored by The human brain is one of the most amazing, elegant, vulnerable, and error-prone things in the universe. Add money to the mix, and things really get interesting! That’s where Dr. Moira Somers works — at the intersection of money and mind. She will be tackling some of the difficult questions that many professional planners face on a day-to-day basis. Why is it so hard for people to change, even when they really want to? How do feelings and beliefs hinder or help that change, particularly when it comes to the domain of money? What can be done to enhance successful outcomes? Dr. Somers is a clinical neuropsychologist, professor and financial recovery expert. She is on the faculty of the Sudden Money Institute, where she trains advisors (many of whom are CFP professionals) on the psychological factors at play during major life transitions. Issues with Trusts 11: 35 AM –12:40 PM Many older clients go through a stage where they suffer from diminishing capacity. How long can you serve as their advisor before it is unsafe for them (and you) to do so? Learn strategies that are available to support them. The strategies change when a predatory child is injected into the mix. The legal and practical situation also changes when the client moves past the often invisible barrier between diminishing capacity and loss of capacity. Alternate decision makers (such as attorneys under power of attorney documents) step in and have to live under special rules. Learn those rules to better serve the person who steps in to speak for your client, and to protect yourself and the client if the person turns out to be the predator. John Poyser, ba, llb, tep Wealth & Estate Lawyer sponsored by John is a partner with the law firm Tradition Law LLP, Estates and Trusts in Winnipeg and principal of The Wealth & Estate Law Group in Calgary. He helps clients in Manitoba, Ontario, Alberta and British Columbia pass wealth from one generation to the next while minimizing taxes and structuring special arrangements to improve the lives of beneficiaries. Making Memorable Connections 1: 30 PM – 2:35 PM Bob Gray Memory Development Specialist sponsored by Always thought you had a bad memory? Let Bob Gray ‘Change your Mind’. Guinness World Record holder Bob Gray will prove there is no such thing as a bad memory— just an untrained one. Bob will show you how to engage left and right hemispheres of the brain for full brain potential, allowing more efficiency and effectiveness in the workplace. He will share the powerful memory systems known as The Chain—the foundation of all memory systems—and introduce you to the power of creative visualization. Mastering The Chain will enable the memorization of information such as speeches and presentations, names and faces, to-do lists and more. keynote speaker: Un-Marketing 101 2:50 PM – 3:55 PM Scott Stratten President of Un-Marketing and Best-Selling Author For generations, marketing has been hypocritical. We’ve been taught to market to others using tools that we ourselves hate, like cold-calling, flyers, ads and so on. So why do we still keep trying the same stale marketing moves? Scott Stratten shows how to unlearn the old ways and consistently attract and engage the right customers. You’ll stop merely pushing out your message and praying that it sticks somewhere. Potential and current customers want to be listened to, validated, and have a platform to be heard—especially online. brought to you by our gold sponsorship partner Scott defines marketing as all points of engagement between a company and its customers, not just a single boxed-in activity. Traditional marketing methods are leading to diminishing returns and disaffected customers, he says. The answer? Stop marketing, start UnMarketing! This session will show you: How to cultivate a strong relationship with your customers and make yourself the logical choice for their needs. How to create a mindset and systems to roll out a new, 21st century marketing approach. How to use a Pull & Stay method (pulling your market towards you and staying/engaging with them, leading them to naturally choose you for their needs), rather than Push & Pray. HollisWealth is a proud sponsor of Financial Planning Week. Your business is built on trust. So is ours. At HollisWealth, we believe the only way to build trust is to earn it. We strive to do this every day by offering our advisors ongoing support to help them develop stronger, sustainable relationships. It’s an approach that fosters trust and deeper relationships for everyone. To learn more, visit holliswealth.com HollisWealth is a trade name of Scotia Capital Inc., HollisWealth Advisory Services Inc. and HollisWealth Insurance Agency Ltd. Brokerage services provided by HollisWealth are provided through HollisWealth, a division of Scotia Capital Inc. (a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada). Mutual Fund products provided by HollisWealth are provided through HollisWealth Advisory Services Inc. (a member of the Mutual Fund Dealers Association of Canada and the MFDA Investor Protection Corporation). Insurance products provided by HollisWealth are provided through HollisWealth Insurance Agency Ltd. TM Investing in your future TD Bank Group’s success in the Canadian financial sector is based on the calibre of the people who work here. Join the TD team as a TD Wealth Financial Planner and you’ll have access to extensive training and support, and an investment process designed to help you and your clients to succeed together. One of Canada’s Best Employers, 8 years in a row1 One of Canada’s Top 100 Employers, 9 years in a row2 Discover the opportunities: jobs.td.com TD Bank Group recognized by Aon Hewitt, 2008-2015. 2 TD Bank Group recognized by Mediacorp, 2007-2015. TD Wealth Financial Planning is a division of TD Waterhouse Canada Inc., a subsidiary of the Toronto-Dominion Bank. TD Waterhouse Canada Inc. – Member of the Canadian Investor Protection Fund. The TD Bank Group means The Toronto-Dominion Bank and its affiliates, who provide deposit, investment, loan, securities, trust, insurance and other products or services. ® The TD logo and other trade-marks are the property of The Toronto-Dominion Bank. 1 Together, we can help Canadians plan for a better future. We’re looking for professionals like you to join our award-winning team. Join our team today, visit bmo.com/careers Best Wealth Management Bank in Canada, 2015 – International Finance Magazine Best Full Service Investment Advisory Canada for the second consecutive year, 2014-2015 – Global Banking and Finance Review Best Integrated Investment Advisor Digital Platform in Canada, 2015 – Global Banking and Finance Review BMO Wealth Management is the brand name for a business group consisting of Bank of Montreal and certain of its affiliates, including BMO Nesbitt Burns Inc., in providing wealth management products and services. ‘BMO Nesbitt Burns’ is a registered trade-mark of BMO Nesbitt Burns Inc., a wholly-owned subsidiary of Bank of Montreal. ®/TM Registered trade-marks of Bank of Montreal, used under licence. BMO Nesbitt Burns Inc. is a Member – Canadian Investor Protection Fund. Member of the Investment Industry Regulatory Organization of Canada. If you are already a client of BMO Nesbitt Burns, please contact your Investment Advisor for more information. IE and FI FINANCE ET ENT INVESTISSEM INVESTMEENT EXECUTIV pp40064924 FI IE N OV E M B R E 2015 | 4 8 P A G E S ESSIO L DES PROF LE JOURNA ASSURANC NOUVELLES CSF ENCADREMENT La rs. répond à ses détracteu Pages 8 et 10 tre un FI RELÈVE Reconnaî Page 16 mauvais mentor. INSIDE PAR RICHARD CLOUTIER 5 N OV E M B E R 20 1 56 PAGE S L R FINANCIA SOURCE FO credit SECTEUR Les actions BLOCKED Ontario évaluées. américaines bien unions can’t promote Pg. 10 Page 20 insurance online. appelé à WORKPLACE Financial FONDS Un marché 22 et 23 to focus services firms needPg. 12se réinventer. Pages on mental health. ET RECHERCHE sance du pays. time to PRIVACY Now is the policies RISQUE Gérer la richesse 28 make sure your data discrétionnaire. Page pass muster. Pg. 20 DÉVELOPPEMENT AFFAIRES BYB de CONSEILLÈRES Secrets top33 BEST PRACTICES Whatdo leur that réussite. 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Seeking global Activ . See page 39 for details INVESTMENT EXECUTIVE and its francophone sister publication, FINANCE ET INVESTISSEMENT, reach more than 200,000 Canadian financial professionals. We offer intelligent, informed coverage of the financial services industry and provide insightful information on diverse topics. ing in their flesh-and- OLLIE BY FIONA C netASSET MANAGERS High M fees and S S E M E N T. C O worth firms rely on Pg. 47 C E- I N V E S TI client relationships. WWW. FINAN n bonds BONDS Real-retur PAUL LAWRENCE represent a buying opportunity. Pg. 49 Traded Fund the Canadian ExchangeInvestments now chairman of Vanguard Tiwari, of Atul director INSIGHT is managing exchangeAssociation, also the fastest-growing providers of of has amassed $5.5 Canada Inc., one EDITORIAL Canadian the in Canada. Vanguard leadership. regulators must face . Pg. 51 traded funds (ETFs) managements under Tiwari’s at a pace truth abut disclosure billion in assets under he says, “and they are growing stay,” 18.) “ETFs are here to rash of (See story on page EDMONTON Why no s in that can’t be ignored.” mergers and acquisition 52 the oilpatch? Pg. WWW.INVES peuven t les assure urs d’assu and software du PAGE 8 for hardware et la fluidité ms is a nvisors > ASSURANCE SUITE du public advice platfor entre la protectio anytime soon. Jérôme-Forget. viser un équilibre the banks is gedu Québec, Monique gouvernement doit Finances The major issue for deschallen major digital À L’AFFICHE Le e ministre estime l’ancienn to find a way to introduce secteur financier, a way as not toT I T R E S U FIXE platforms in such upset existingÀ R E V E N À lire en page 4. PHOTO : MARTIN LAPRISE de creux regulators PÉTROLE Dans un DIGITAL Insuranceprocess cycle. Page 30 moving licensing online. Pg. 22 DES NALS Big banks looking at robo-adv isors CE E Vers une salariif DONE DEAL The TPP, forASSURANC s? sation des conseiller ratified, is good news Pg. 8 Page 19 financial services. ÉCONOMIE MaRS PROMOTING STARTUPS p with de croisforms partnershi 14 VIETNAM Poussée Page 24 TMX Group. Pg. PROFESSIO SERVICES FINANCIAL PRODUITS ET ASSURAN NEWS E La vente par Internet déjà permise ? DANS CE NUMÉRO r attaqué CSF Le régulateu 10 de toutes parts. Page de fonds FCP Nouveau genre 12 moins cher. Page évaluaRÉGULATEURS Des élogieuses. peu mystères tions Page 12 dit non RÉGLEMENTSAL’AMF EWS sansS N ts A’ AN D auxCrèglemen 14 admission. Page 40064924 L ACE M E NT NNELS DU P Visit our websites and subscribe to our daily newsletters to stay on top of financial industry news as it happens. For more information, contact us at 1-888-366-4200 or visit our websites: www.investmentexecutive.com, www.finance-investissement.com Canadian Financial Planning Definitions, Standards & Competencies First Ever Unified Standards for the Canadian Financial Planning Profession. Hard Copy Edition $18.95 Order Yours Today at www.fpsc.ca YOU CAN HELP SHAPE THE CANADIAN FINANCIAL PLANNING LANDSCAPE The Financial Planning Foundation is a charitable organization that is committed to developing and promoting financial planning research and education for the benefit of financial and allied professionals, education providers and the Canadian public. Support the Foundation today. fpfoundation.ca “MD TRULY HAS A DEEP INTEREST IN PHYSICIANS AND THEIR FAMILIES AND DOING WHAT’S RIGHT FOR THEM.” — Kelli Costigan, Portfolio Manager md.cma.ca/joinus