With the days getting noticeably cooler and shorter, many advisors will be preparing their autumn newsletters. As markets improve, your clients may be open to suggestions for reinvesting funds. Back-to-school, yearend and tax issues may also be of interest. Here are some timely ideas to include in your newsletter:
> Education Savings. With the kids back in school, education is top of mind for many clients. Parents will be receptive to information regarding education savings vehicles such as RESPs, says Joanne Ferguson, president and coach with Advisor Pathways Inc. in Toronto.
Include links to sources of local scholarships and grants in your newsletter, she suggests. “If a parent uses an idea from your newsletter, and something good happens as a result,” she says, “they will always think back to the advisor who gave them that idea for their child.”
> TFSAs. If your clients haven’t opened a tax-free savings account, now is the time to remind them, says Joanne Livingston, an advisor with Richardson Partners Financial Ltd. in Ottawa. “If a TFSA is an appropriate tool for a client, suggest they open one before the end of the year,” she says. If there isn’t time, inform them that they can double up on their contributions next year.
> RRSPs. Now is also a good time for clients to review their RRSP contributions, Livingston says. Are they on track to make their maximum contribution by the March 1, 2010, deadline? If not, discuss strategies such as an RRSP loan. IE