The rise of virtual meetings means some migrants to the province may stick initially with a longtime advisor, but those looking for a new financial plan as they start a new life will want a local advisor
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And clients who started out in Alberta are capitalizing on remote work opportunities to return from cities such as Toronto and Vancouver, often for quality-of-life reasons as well as lower costs. New Albertans need to be aware of some financial wrinkles that are different from province to province, he adds. Tax rates and fees vary by province. Estate law is a bit different between Ontario, Alberta and British Columbia, so new migrants should revisit that aspect of their plan, says Mr. Watt. Probate fees, for instance, are low in Alberta.
“If a migrant is coming to Alberta because they’re retiring, they could come into our practice because there are some unique aspects we could educate them on [such as] the housing market, the difference in taxation, and the impact on their retirement plan.
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