We’ve been enjoying some nice hot weather here in Calgary and looking forward to some Summer Holidays at the end of the month. The girls will be finishing up school for the year in the next couple of weeks. They’re looking forward to some Daddy-Daughter Time so we’ll take some time off to get some family time in. I’ve been working some pretty crazy hours so I owe it to the girls to spend some serious time with them! We plan on doing a Staycation for part of our time and also spending some time in BC. Natalie and I plan on being out of the office from June 29th to July 12th. Please let us know if there’s anything you’d like me to handle before that time and I’ll do my best to get right to it!
As I’ve discussed with many of you over the last year or two, the Financial Services Industry is going through a lot of changes. There’s more and more talk about completely changing the way advisors get paid and we may see some major changes in the next few years. Natalie and I have already started preparing for this by introducing new products and strategies centered around more disclosure and lower costs. We’ve noticed that a lot of Investment Companies are also starting to move in this direction. We’ve seen numerous companies introduce products with Exchange Traded Funds (ETFs) and we’re seeing a lot of companies reducing management costs and consolidate their product lines. Some of this consolidation will involve investment companies blending some products together. Other moves will include reducing how many different series of funds are available. In many cases, it will just be a matter of moving from one version of a product to another with a slightly lower cost. There’s a lot of this going on right now so many of you will likely be affected by some fund switches. I’ll let you know if there is anything that requires more attention and we’ll go over it together. As always, I’m available if you have any questions at all.
Enjoy the sunshine and have a wonderful start to the summer!!
Bryce A. Borden
