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Financial planning for baby boomers
Griffin to change name in a year to C.M. Oliver by Nancy Gardiner
NNSL (July 30/97) - The mutual fund industry is growing dramatically and RRSPs are growing because people are worried about job security, says Bert Griffin of Griffin Financial Services in Yellowknife.
And the baby boomers with more disposable income are finding more ways to invest for their retirement.
"People are looking for more attractive yields on investments," Griffin says, and as a result, they're diversifying more.
Griffin is a financial planner in Yellowknife. But changes are under way with his company too.
"Our typical client is 35, married, with a child and wants to set up a trust for education," he says.
He says one of the most under-utilized investments is the spousal RRSP. "A lot of people don't know about them. They help minimize tax upon withdrawal," he says.
And within a year, "there'll be no more Griffin." That's because C.M. Oliver will become the new name of the company.
"We're not changing companies, it's just a name change." Planvest, the national dealer that serves Griffin, bought out C.M. Oliver recently, but because Oliver is the better-known name -- it has offices in London and Singapore -- Planvest and Griffin will adopt the name of the new purchase.
"There's name recognition, so we're keeping the name," says Griffin.
As a result, Griffin will be able to offer more services. "I'll be able to offer direct stock and bond trading after the change."
C.M. Oliver Inc. is ranked as one of Canada's fastest-growing companies.
Griffin recently placed in the top 12 financial services firms offered within his company for the period of January to June, 1997. He was up against more than 300 other representatives.
In 1996, he won the 1996 rookie-of-the-year award for increases in sales and retention and accumulation of assets, as well as betterment of financial planning and demonstrating sound professional ethics.
He has between 350 to 450 clients. |