The second half of the clap will come in 2018.  Sad, but true.  You go to the store, pay 13% HST in Ontario on your items you purchase, but they only total for you the PST (8% in Ontario).  Where’s the other ‘half’ of the tax, the total of the 5% I paid GST?  We’ll, we will show you that next year.

I contend that the manufacturers threw their sales channel under the proverbial ‘bus’.   The Sales Channel who sells the Mutual Funds will be associated with a Fee, a Cost, not only in percentage terms, but nominal amounts (ie. $10,000), while manufacturers, ie. Giant Financial Institution, have their Fees (ie. $10,000) held back from full disclosure until 2018.

Astounding to me.  But maybe I’m wrong.   That’s why I term CRM2 as CRM 1/2.  CRM the second 1/2 will come next year (2018) and then we’ll finally have ‘Full CRM’.  And I will be posting the Communication Tips how vendors/industries love to invent their own terms, words, phrases that mean nothing in plain language to their clients.  Sad, and again, quite true.

PS. If you have purchased Investments that are sold by the Insurance industry, no Fees, will be shown to you until 2018 (or later).  I think this is called CRM3.

Take a read of these articles and perhaps it will sink in.

New fee-reporting rules will lead to investing industry shakeout

Link: New fee-reporting rules will lead to investing industry shakeout

Quote “The new disclosure rules have already met criticism because they focus on the cost of advice investors pay, rather than the all-in costs that include any fees associated with products. For example, investors will see the cost of commissions from the purchase of mutual funds in their statements, but not the management-related fees of such products. In this way, CRM2 could underreport fees for owners of fund-heavy portfolios if they don’t go through the separate exercise of calculating management expense ratio (MER) costs.”

What new disclosure rules for advisory fees mean for investors

Link: What new disclosure rules for advisory fees mean for investors

Quote “Imagine you own mutual funds with a management expense ratio of 2.2 per cent. Trailing commissions would account for 1 percentage point of the MER, which you’ll see as a dollar amount under CRM2. The dollar cost of the remaining 1.2 points of MER will not be shown. If you have a fee-based account, you will be shown the dollar amount of fees paid to your investment firm, but not the fees associated with the products you own.”