Decision-Making in Financial Planning
By Jason Watt, CD, CLU
Behavioural finance research makes it clear that we are all victims of our own biases. Dan Kahneman, who is likely the world’s leading researcher on bias, has this depressing conclusion as it concerns bias: “The odd thing is that educating people doesn’t seem to be enough, because we find that educated people are not less polarized than non-educated people in their politics and their biases.”
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Jason Watt at Financial Planning Week 2018
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LAST CHANCE
Financial Planning Week 2019
Platinum Sponsor Update
25% off
Financial Planning Week Symposium(s)
Until Wednesday, November 6th
Toronto - Nov 20th
Vancouver - Nov 22nd
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25% off when you register for the Symposium through BCC until Wednesday, November 6th
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Did you know that if you are unable to attend the Ethics Breakfast in Toronto on November 20th, you can still take part?
Register for the Ethics Breakfast and attend via live webinar.
Conflict of Interest - Earn 1 CE Credit
(Executive Director, FP Canada Standards Council™)
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REGISTER TODAY
Spring 2020
Webinar
Nov 13, 14 & 23
Waiting List
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Phoenix
Feb 13 & 14
Webinar
Mar 10
Apr 7
May 20
Group Insurance Symposium
Edmonton
Apr 21 & 22, 2020
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Webinar
Mar 13, 20 27
& Apr 3
Mar 10, 17, 24 & 30
June 02, 09, 16 & 23
Aug 05, 12, Sep 02, 09 & 30
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Webinar
Nov 25-28
Jan 13-16
Mar 2-5
Apr 27-30
July 20-23
Edmonton
Nov 4-7
Jan 27-30
Jun 1-4
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Discount Corner
In the spirit of Financial Planning Week
$20 off a BCC Course this month
Use code '
FPW2019
' at checkout to receive your discount.
Coupon Valid Until November 30, 2019 AT 11:30PM MDT.
Valid with a minimum purchase of 2 months for basic subscriptions and any other products.
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Started
October 2019
In this episode, Jason and his guests, Mitchell and Garrett, will discuss some key practice management issues.
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Professional Questions
October 2019
In this episode, Jason and his guest, Ray, will discuss the benefits of incorporation for a medical professional, regulation of financial planning & financial advice.
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Incorporation Questions
November 2019
In this episode, Jason and his guest, Ray, will discuss the benefits of incorporation for a medical professional, regulation of financial planning & financial advice.
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Subscribe to get the latest episodes as they become available!
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Bob started with Mutual Life in Saskatoon, SK in 1982. There was one female advisor in the agency, Eileen Blythe. Unexpectedly, we ran into Eileen in Vegas and renewed our friendship. Eileen remains in the industry working out of Hope, BC. Eileen it was so nice to see you again.
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Testimonial
“I look forward to attending the Financial Planning Week Symposium every year. The celebration dinner is a great way to connect with friends and colleagues, and the speakers are always fantastic and relevant. There are never any speakers about product - they all have insight on human behaviours, artificial intelligence, generational differences, etc. Very interesting and there is always something I can apply to my work and life right away!”
–
Julie Petrera
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New Core Curriculum Available
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AVAILABLE NOW
This video series follows a successful small business from founding through sale to retirement, covering many of the issues that an advisor would work with the business owners on.
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For a lot of our students, November is a busy time spent preparing for FP Canada’s Level 1 and CFP examinations occurring in the last week of November. Here are three study tips from our instructor Jason Watt.
- Study regularly in small increments of 30-60 minutes a day. Slow and steady sets the pace.
- Help to alleviate extra stress by remembering to take care of sleep, diet, exercise, and your loved ones.
- Have a plan to write your exam, and write it down. For example, do short answer questions give you grief? Write down a plan for how you are going to manage those types of questions. Having a written plan in place will help in that moment of stress while writing the exam.
These tips go for anyone working through a course! Feel free to share your study tips with
kelsey@businesscareercollege.com
and we’ll enter your name in a draw for a $25 gift certificate.
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LLQP Summary
Bob Watt, EPC
In the previous several monthly submissions I took the opportunity to introduce the LLQP program and talked about the 4 modules that make up the course and that are tested through the various stages of the exam process. As a review the 4 tested modules are in order of how I teach them and recommend that people follow:
Ethics and Professional Practice
Accident and Sickness Insurance
Segregated Funds and Annuities
Life Insurance
There is a fifth module title is Life Insurance Taxation Principles which is not tested as there is no expectation that life insurance agents will be tax experts nor are they allowed in any way to pass them off as such. The constant reminder throughout that bonus module is that the best agents can do when delving into issues that might cause clients some tax pain or concern is to consult your company or a qualified tax expert such as an accountant, tax lawyer or CFP professional.
If anyone wonders in today’s environment about the importance of having a module titled Ethics and Professional Practice, please take the time to give me a call and we can discuss this or call your local regulator and tell them that you disagree with new agents having to learn about Ethics and Professional Practices.
Each of the subsequent modules delve more deeply into the areas that insurance practitioners find themselves discussing with clients and prospective client alike. Insurance agents spend much time educating people about the financial risks of premature death, disability through illness or injury and old age which is a risk because of health and longevity concerns. We either life too long or we don’t live long enough. Helping clients identify and become aware of those predictable risks, agents now rely on what they have learned through the LLQP study course and whatever support they get from their companies to help
Canadian families, individuals and business owners manage those risks.
In the next newsletter submission I will talk about some of the changes that will occur in the licensing material as we move into a new year and explain the process of how the regulators deal with those changes that come about each and every year.
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