CE Showcase: The Blueprint for Building a Million Dollar Portfolio
In an effort to keep you informed about CE opportunities available in Canada, we are pleased to offer a series of videos presented by prominent speakers who will lead CE sessions at the Ontario Dental Association’s Annual Spring Meeting ‘ASM 2016’ which will take place May 5 – 7, 2016.
Ron Haik, from CDSPI, spoke with John O’Keefe about the session he is presenting during ASM. The session will provide a behind-the-scenes look at how a financial advisor builds a custom financial plan for a client in order for them to achieve financial independence. In part one, Ron provides real life examples on how to construct a financial plan to achieve financial goals for a worry-free, financially secure future. In part two, Ron will moderate a panel session of portfolio managers who will share their insights on stock markets, interest rates and the economy.
You can find more information on this and other CE sessions by visiting the ASM 2016 website.
Ron Haik has more than 20 years experience as a financial planner, stockbroker, and in the areas of both domestic and offshore private banking. He has taught as a professor and has lectured at universities and trade conferences across Canada. He has an MBA with a double-major in finance and financial services, has attained the Certified Financial Planner and Trust and Estate Practitioner designations, is a Fellow of the Canadian Securities Institute and is among a select group of individuals who holds the Certified International Wealth Manager designation.
Ron Haik’s session at ASM is as follows:
- May 5, 10 – 12.30: The Anatomy of Building a Million Dollar Portfolio
Additional Resources
Wealth management, specialty, expertise, hmm…..
I invite Mr. Haik to take me up on a bet, payable by the loser to the winner’s favourite charity, if any of the CDSPI mutual funds beats the no brainer strategy of buying and holding a low-cost S&P 500 index fund ETF over the course of the next decade.
Over the last decade, not one of the 22 CDSPI mutual funds has equaled such a strategy. Building a million dollar portfolio outside CDSPI is much more promising.
The central tenet of book MONDAY MORNING MILLIONAIRE, to be distributed by ROI Corp. later this year, is that dentists should be do-it-yourself investors.
Thank you for your comments.
After having developed thousands of comprehensive and customized financial plans for dentists and their families across Canada, CDSPI has rarely seen situations where one single investment is suitable for every investor.
CDSPI respects the fact that investment approaches can vary for each individual. As such, we do not advocate that any one solution or one investment is appropriate for all individual investors. Before making any investment recommendations, it is our fiduciary responsibility, and in our clients’ best interests to understand their personal situation – to develop a financial plan. Important considerations such as investment objectives, risk tolerance, rate of return requirements and tax minimization objectives are unique considerations to each investor before contemplating an appropriate investment plan. Investment recommendations may then include combining active and passive investment styles, geographic, sector and asset classes to reduce volatility, factor in the impact of foreign currencies to a Canadian investor, and other tax efficient solutions if appropriate.
There are many different approaches and philosophies to investing and we wish you good fortune as you pursue your own personal philosophy.
Sincerely,
Ron Haik
Mr. Haik’s is a smoke and mirrors response to the naked truth that investing outside managed portfolios gets better results. For an in-depth understanding of this fact, well known within the investment community, CDA Oasis followers can read the works of John Bogle, the widely respected founder of the Vanguard Group of mutual funds.
An apples to apples comparison needs to measure managed portfolio performance over an extended period against the no brainer strategy of buying and holding a low-cost S&P 500 index fund ETF. For the purpose of this discussion, investing should to be separated from other aspect of wealth management.
Respectfully submitted.
A study by Bergstresser, Chalmers, and Tufano found that the weighted average return of equity funds held by investors who relied on advisers (excluding all charges paid up-front or at the time of redemption) averaged just 2.9 percent per year, compared with 6.6 percent earned by investors who took charge of their own affairs. (From John Bogle’s recently published DON’T COUNT ON IT) Many other studies support my statement, based on personal experience, that building a million dollar portfolio outside CDSPI is much more promising.