Alleged bad advice costs couple close to $50K
Alleged bad advice from a financial planner at a Canadian bank may have cost a retired couple almost $50,000. The alleged facts were recently reported in the national news and the story offers two lessons. One for the bank and one for the investor. A couple reportedly wanted to move approximately $200,000 from an American […]
RBC change results in higher taxes for some investors
Canada’s largest bank made a significant move that greatly affected thousands of investors. It is just another example of individual investors taking a backseat in the Canadian financial services industry. The Royal Bank of Canada made a change to one of its mutual funds. No longer would the fund hold individual stocks and bonds, but […]
Fairness has evaporated from income tax rules
The Canada Revenue Agency (CRA) has been caught in an embarrassing mess. It appears it has turned a blind eye to wealthy families who were hiding income in order to not pay their share of income tax. Back in 2012 one of Canada’s largest accounting firms was alleged to have created fancy offshore tax shelter strategies for […]