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by Sandra Jakab
I’ve had the great privilege of representing British Columbia lawyers on the CBAF Board of Directors this past year and a half. I have been deeply impressed by the collective knowledge and experience of both staff and my Board colleagues from across Canada. Staff and the Board work together to achieve two key objectives:
- Offer CBA members and their families financial services and products with the lowest possible fees.
- In the RRSP program, offer balanced fund options for the investment needs of the members of the Canadian legal community.
The first objective is the raison d’être of the CBAF. If we succeed in delivering a RRSP option with significantly lower fees, your RRSP portfolio will be positioned to grow more quickly than it would otherwise. The impact of lowering fees can be significant over the long term. It’s that simple.
As the program grows, we expect to reap the purchasing power and negotiating benefits a growing group can achieve, but a single investor cannot.
Participation in the program has grown steadily these past two years. At present, the RRSP program has upwards of $11 million of assets under administration. B.C. lawyers are participating proportionally to their representation among Canadian lawyers generally. We monitor the funds and their performances closely with the assistance of James P. Marshall – a Hewitt Company.
I look forward to continuing to represent you on the CBAF Board. If you have views or concerns you would like to share with me, please call me at 604-899-6869 or send me an e-mail at sjakab@bcsc.bc.ca.
This article courtesy of the CBA Financial Services Corporation:
This RRSP Season…
… remember that the CBA offers you and your family a group RRSP option through the CBAF. The CBAF was jointly incorporated by the Canadian Bar Insurance Association (CBIA) and the CBA.
RRSP Programs
You can learn about or enroll in the group RRSP program by contacting your CBAF representative, Mass & Company – Vancouver area 604-688-8790, or toll free from elsewhere in B.C. or the Yukon at 1-888-477-5630.
The CBAF website is full of useful, plain-language information about the RRSP program – www.barfinancial.com. It offers an easy-to-use self assessment and on-line enrolment.
Banking Services
The CBAF also offers banking services through Manulife Financial. As with the RRSP program, we aim to provide banking services at the lowest possible fees. RRSP loans, mortgages, and other banking services are available through this program. Manulife Bank representatives can be reached at 1-877-765-2265 (mention that you are a CBA member) or manulife_bank@manulife.com.
Financial Planning Services
CBAF offers access to professional, unbiased financial planning services through T.E. Financial Consultants Limited. Contact numbers for all regional offices in Montréal, Québec City, Toronto, Oakville, Calgary, and Vancouver are available at www.tefinancial.com/regional.html.
Sandra Jakab, Director, CBA Financial Services Corporation
This article was published in the February 2006 issue of BarTalk and is subject to the copyright by the British Columbia Branch of the Canadian Bar Association, 2006, all rights reserved. |