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— gap’ witl

From page 20

Anybody can call him/herself a
financial planner.
government regulators and should
cause the “‘buyer beware’ flag to

Wave vigorously whenever. you
look for help: with your personal
‘finances. 6°."

This “month - in “Mancouver,
“British © ‘Columbia Superintendent
of. Financial” Institutions Allan
Muiholland told the, CAFP annual
conference: =<.

‘*Provincial ;. governments

- recognize a need. to regulate finan-.
‘cial planning’ but: don’t. want to -

create a major bureaucracy. Nor

«do we. want: to get. trapped into,

regulating something that we can't
“get a handle on.’

Mulholiand . felt’ most financial.

planners

are’. already ‘regulated
because ;

hey: sell. financial. -pro

ducts, cand® 6° come: “under-. laws -°
* your RRSP into your pension plan
uld enable you. to. pass these _

- governing mutual funds,” life: in-

. and what will be provided,
‘Heather’ Shannon, of West Van-

That” worries

couver, tax partuer-in the Van-

_couver office of Clarkson Gordon, -
‘chartered . accountants,

told “the
CAFP. conference.

“Shannon stressed the need for:

(1) an engagement letter, (2). com-

plete disclosure by the: planner of-:
: fees; commissions and | any other
‘sources of income and (3) evidence
“that the planter has the knowledge

to do an effective job. :
» From<"the:: CAFP: ‘conference,

here are some: other fips - 1 picked

up:

. © Under: ‘the’ new. RRSP ules,

_ Starting in 1989 you will be. ‘able to

over-contribute and ‘carry forward.

-up to $8,000, enabling you to tax-
. shelter the income produced by +

this excess, ‘said: Wayne Walker,”

senior, vice-president: for marketing” :
“of.the Investors Group.

Also, in some’ situations rolling

funds:; tax-free” to a snon-spouse
benefi iciary when you die, provided
the pension plan allows this."
Splitting: income: between
spouses (through a spousal : -RRSP,
it: Canada * Pensions Pl

pay the.’ bills while - the lower.
: vests) sould © save

— “expoctacien’

anner

as = year ‘afier y year, than having “most”

of. the $50,000 family income. in
one spouse’s hands; according to
Jim : Rogers, chairman and. chief
‘executive officer of The James E.
Rogers Group Lid.

© Doliar-cost averaging — that .
“js, investing..a regular. amount...

every month — works even when
“the market falls; >

“If you had. invested $100 al

-Month in the stocks making up the
Dow Jones Industrial Average for
64 ‘months starting the: day before
the 1929 crash, your $6,400 would

have grown to $7,157.50 '— even”

= though the Dow Jones dropped. 89
per: cent between 1929 and 1932,
and was down 73: per cent. at the
end of the 64 months,’’ said Fred

» Snyder, . vice-president ; for B.C.. of.

* Regal Capital Planners Ltd.

‘Do you have a financial or con="
“sumer question : for’ Mike? Or a’

Storyzyou think should ‘be :in’ his
column? Please write to Mike
Grenby, North Shore News, 1139
Lonsdale, North Vancouver VIM

2HA,

NORTH VANCOUVER,
“1407 Lonsdels are
BURNABY.
Bren nc
628 - 4557. Lougheed Hwy.
WEST VANCOUVER .
ark Royal Sh. Ctr. «

,B- Wednesday, dune 22, 1988 -. North Shore ‘News

_ Thinking Le

PLANTERS
: Land Ae -Dauryert
; 984-2008 .

.. For the 7th ‘Annual - .
Tee off! 0,
a Pitch & Putt Tournament

‘The 1988 edition of this popular. focal tournament. is set

. for Saturday, July 9. Sponsored ty the Merth Shora Neves and Park

Royal Shopping Centre, this taimamment is open to all, golfers.
regardless ‘of club affiliation or membership

Again this year. there’are four ditisions: men,
wornen, seniors and youth (16, years and under),
each with plenty of prizes:

Quslitying Rounds

May be played on any day from Saturday, June 4°
through Sunday, dune 26: Place your score cards in
the tournament box in the clubhouse, ©

| Entry fee

wd the regular igreen i iee. ticket, 450 (Seniors and
youth - under 16, $2.50 — _ weekends $4.50) ;

Finals
Saturday,’ ‘duty a. weather pemiting

. You can, wint

Trophies for the winners in each of the: four! a

" divisions, men, women, seniors and youth, and for:

the winner overall,
Gilt Certificates, redeemable at stores in ” Parke

= Royal, for the top three finishers | in each of the =
four divisions. ,

Sanctioned by the: West Vancouver Parks and ©:
Recrestion Advisory Committees