Michelle Schriver

Toronto

Assistant Editor at Advisor.ca

Assistant Editor at Investment Executive (IE)

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Articles

Raymond James targets advisors, market share with digital transformation

3 days ago | investmentexecutive.com | Michelle Schriver

That leap will cost “tens of millions of dollars,” Coulter said in an interview, and will address the fragmented desktop with which many advisors across the industry are all too familiar. The investment is part of parent company Raymond James Financial Inc.’s US$1-billion allocation to tech and security infrastructure across the company globally in fiscal 2025.
Complaints about CRA call centres persist

5 days ago | investmentexecutive.com | Michelle Schriver

Michelle Schriver Service from Canada Revenue Agency (CRA) contact centres continues to disappoint taxpayers — assuming taxpayers get through to the centres in the first place. The latest annual report from the Office of the Taxpayers’ Ombudsperson finds that the top trend in complaints about the CRA’s services related to information provided by contact centre agents.
U.S. Senate introduces exceptions to proposed excise tax on money transfers

1 week ago | investmentexecutive.com | Michelle Schriver

Such concern has largely been allayed with the U.S. Senate’s proposed version of the bill, which includes exceptions when the funds being transferred are withdrawn from accounts at financial institutions subject to the U.S. Bank Secrecy Act — anti–money laundering legislation that applies to brokers and dealers, banks, credit unions and insurers, among other entities. The Senate finance committee also added an exception when the funds being transferred are funded with a U.S. debit or credit card.
IIAC rebrands to reflect its positive impact on financial markets

1 week ago | investmentexecutive.com | Michelle Schriver

Those issues include stimulating capital raising, reducing regulatory duplication and fragmentation, advancing a more competitive tax system, strengthening retirement savings frameworks, and transforming financial services delivery, the organization said in a release on Monday. During the interview, Paglia also noted the declining competitiveness of Canada’s financial markets. “There are multiple reasons for that,” she said.
TFSA info now available in My Account for most taxpayers: CRA

2 weeks ago | investmentexecutive.com | Michelle Schriver

For the other 10%, “the information remains temporarily unavailable” while the CRA works to ensure that their TFSA contribution room is updated, Drouin wrote. “This precaution is in place to help prevent errors, and efforts continue toward a prompt resolution.”The CRA’s self-service My Account portal is updated each Jan.
FP Canada, CPA Canada synergize with CE, events and credentials

2 weeks ago | investmentexecutive.com | Michelle Schriver

Michelle Schriver If you’re a financial planner, you’ll soon have access to more continuing education and events, because FP Canada has a new memorandum of understanding (MOU) with the Chartered Professional Accountants of Canada (CPA Canada). The MOU provides for stronger collaboration between the financial planning and accounting professions, a release said, including within continuing education (CE), research and thought leadership.
CRA identifies second issue resulting in incorrectly assessed T1s claiming LCGE

2 weeks ago | investmentexecutive.com | Michelle Schriver

Michelle Schriver The Canada Revenue Agency (CRA) identified another issue causing incorrect assessments of some T1 tax returns claiming the lifetime capital gains exemption (LCGE), and the agency says it will reassess the affected returns beginning Tuesday. In a LinkedIn post on Monday, Ryan Minor, director of tax with CPA Canada, shared communication from the CRA regarding a second issue with the calculation of the capital gains deduction.
No TFSA info in CRA portals? No problem, advisors say

3 weeks ago | investmentexecutive.com | Michelle Schriver

Michelle Schriver TFSA information isn’t available in Canada Revenue Agency (CRA) portals, but financial advisors and their clients aren’t sweating the (TFSA) details. Aravind Sithamparapillai, a certified financial planner with Ironwood Wealth Management Group Inc. in Hamilton, Ont., said clients haven’t been calling to ask about TFSA contribution room.
FP Canada says it will continue to examine conduct of financial planners outside their practices

3 weeks ago | investmentexecutive.com | Michelle Schriver

“The hearing panel has been, and will be, continuing to consider more cases involving conduct outside of one’s financial planning practice,” the council’s 2024 report says. The report cites the case of a (now former) certified financial planner (CFP) certificant who was also a lawyer and found by the court to have engaged in misleading conduct in that capacity.
CRA announces prescribed rate for Q3

3 weeks ago | investmentexecutive.com | Michelle Schriver

Michelle Schriver It’s official: The prescribed rate on loans to family members will be 3% in the third quarter of 2025, and the interest rate Canadians must pay on overdue tax will be 7%. That’s down from 4% and 8%, respectively, in the first half of this year. On Monday, the Canada Revenue Agency (CRA) published the prescribed annual interest rates for amounts owed to or by the agency for the period from July 1 to Sept. 30.