Archive For The “Uncategorized” Category

Response to CCIR seg fund issue paper

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Financial Services Consumer Alliance www.consumerights.ca email:info@consumerights.ca   May 27, 20165160   CCIR Secretariat 5160 Yonge Street, Box 85 17th Floor Toronto, Ontario M2N 6L9 ccir‐ccrra@fsco.gov.on.ca.   Reference: Segregated Funds Working Group Issues Paper May 2016   The Financial Services Consumer Alliance is an informal alliance of consumers and experts in the financial industry who are…

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Four degrees of justice…

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  I am dedicating this text to Jim Ruta and friends who believe that the insurance industry does not need more and better regulations…   LEARN ABOUT THE UNIVERSAL LIFE SCAM: http://www.amazon.ca/Unraveling-Universal-Life-Richard-Proteau/dp/1503246167   Four advisors who broke the same law; four advisors who received totally different sanctions for the same infractions. The differences in the…

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For the good of the industry, Advocis must change!

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  When I decided to educate the financial industry on how to do financial planning for low income Canadians by using their real level of taxation, I knew I was in for an uphill battle. My conversation with David Chilton confirmed this to me. https://www.linkedin.com/pulse/good-industry-advocis-must-change-richard-proteau?trk=prof-post  

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Insurance Audit: Financial advisors know little about managing insurance

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  When an insurance audit is done as part of a mandate given by a policy owner, we find that in 99% of the cases that the policy has been mismanaged. In this particular case, such mismanagement cost the client more than $90,000. Why is this? The reason is simple and it is because financial…

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Case Study: Using real taxation for low income Canadians to give the right financial advice

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  Finally a case study constructed around a case involving low income Canadians! Before I continue, I can only emphasize the importance of this text. By working with a low income family, you have as a financial advisor the opportunity to change lives. You don’t get this working with the rich.   It will also…

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Why is the financial industry using the wrong marginal tax rates?

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  Before answering this question, I should ask first whether you know that there are two types of marginal tax rates in Canada. There is the “POSTED” marginal tax rate which is what is used by the financial industry and what is shown on tax sites such as TAXTIPS http://www.taxtips.ca/marginaltaxrates.htm. But these marginal tax rates…

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PART 2. IUL VALUE BASED ANALYSIS – LOST IN TRANSLATION

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  PART 2: VALUE BASED ANALYSIS – LOST IN TRANSLATION By Richard Proteau:  http://www.amazon.ca/Unraveling-Universal-Life-Richard-Proteau/dp/1503246167   Advice is in the end all about value. Without value there is no need for advisors.   Discover the true value of life insurance by using the only application that can do a pre-estimate of the Fair Market Value of…

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Defraudme: A Universal Life solution

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  TST Financial News is a financial show that will use satire and irony to expose some of the dark secrets hiding in the deep closets of the financial industry.   Through this show we hope to educate the public about what is truly happening in this industry.   It is by exposing the truth…

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Defining the legal status of a life insurance illustration

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  The prevalent belief is that a life insurance illustration is not a legal document. Life illustration is therefore perceived to be an advertisement to show the performance of a life policy.     Learn about the Universal Life Scam by buying this book at http://www.amazon.ca/Unraveling-Universal-Life-Richard-Proteau/dp/1503246167 .   Determine the true value of life insurance…

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A PUBLIC DENUNCIATION AND ACCUSATION

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  Because of Yan Paquette, Manulife has still not been held responsible for thousands of infractions … (Richard Proteau 2015)   It is undeniable that the public has lost confidence in the professionalism, integrity and objectivity of our justice system. This explains why some lawyers believe that the law and ethics are unnecessary and only…

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