Rudy Mezzetta
Canadian investment firms are taking a cautious approach to Bitcoin and other cryptocurrencies as client interest in the space increases and new products offer retail investors easier access to cryptocurrencies.
Financial advisors are divided on cryptocurrency’s place in client portfolios. Some advisors avoid digital currencies altogether while others embrace the investments but only for certain clients and with limited exposure.
“We’re incorporating ETFs backed by Bitcoin in RRSPs and TFSAs,” said Michael Zagari, an investment advisor in Montreal with Burlington, Ont.-based Mandeville Private Client Inc. “If [cryptocurrency prices] are going to go where you think they will go, you would want [those investments] to be in a tax-free environment.” Zagari said he recommends a 1%–5% position in cryptocurrency as a long-term holding for clients whose portfolios are already on track to meet financial goals.
Brooke Smith
Client e-newsletters have become part of an advisor’s bailiwick. But crafting effective newsletters isn’t a simple, one-off task, said Kevin Mulhern, CEO of AdvisorStream in Toronto: “They’re a big commitment, and they work.”
So, how do you create an e-newsletter that works? And how do you ensure that your readers will open, click through and engage with your content?
Assess your audience
First, you need to know your audience, said Aleem Visram, an advisor with MIRFP Financial Planning and marketing professor at the Schulich School of Business in Toronto.
“Who are your clients? What are the problems they have, and how are you trying to resolve them?” Visram said. Once you know who you want target, he said, you can consider segmenting those clients into different groups with different needs.
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