It’s coming in January – the Great Reveal. “Reveal” is a movie term that documentary filmmaker Nettie Wild once defined for me. It happens when “characters present themselves in one way and then through time (hopefully in front of my camera) they reveal another side to them,” she said.
The reveal I’m referring to relates to new reporting regulations that most investors will see early next year in their statements. Client Relationship Model (version two), or CRM2, requires investment firms to report what clients are paying them. Most Canadians invest with a bank, mutual fund dealer or full-service adviser, but few know what it costs.
CRM2 is shaking up the wealth management industry like nothing I’ve seen in my time in the business.
TOM BRADLEY – SPECIAL TO THE GLOBE AND MAIL – SEP. 08, 2016.
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