From the Editor: “Never Let a Good Crisis Go to Waste”

Q4 | December 2020

Laptop, notebook, Tablet and coffee on work desk

Topic: Inside Nexus

Dianne C. White CPA, CA, CFP, TEP

December 18, 2020

Image used with permission: iStock/PRImageFactory


Print & Share

Print

From the Editor: “Never Let a Good Crisis Go to Waste”

Q4 | December 2020

Reflecting on the year 2020 is not for the faint of heart. It has been one crisis after another.

In addition to the onset of the worst pandemic in more than a century, 2020 also saw the killing of George Floyd – another catalyst for recognizing racial inequality around the world; one of the most acrimonious and deeply divided U.S. presidential campaigns in history; and wildfires in Australia and the U.S. that caused destruction on a massive scale.

Moments of crisis also present opportunity, and perhaps no company took advantage better than Zoom, which has become both a household name and a verb. But even more amazing than Zoom’s meteoric rise was the development of a vaccine less than 12 months after COVID was first reported. Traditionally vaccines take 10-15 years to develop. The fastest it ever happened before was the four years it took to develop the mumps vaccine, which was first approved in 1967.

A crisis also highlights what is truly necessary versus what is nice to have. Not to mention, life goes on, crisis or not. In our business investment decisions need to be made, financial plans need updating and employees need to be hired. We couldn’t be more proud of our employees for their efforts since the start of the pandemic. Everyone rolled up their sleeves and dug in. We added two new members to our team this year, despite the challenges presented by Zoom-based hiring. Preethi Khatri Chetri joined us this summer as our pooled fund administrator. She has extensive experience in this field, having worked with a large global competitor. Now Nexus is fortunate to have her talents and positive attitude – she will be managing the operations of our growing pooled funds. More recently Tom Wilson joined us. No, not the hockey player. Our Tom has research, as well as client service, experience. He’s been hired to deepen our bench in the client-facing aspect of our business. While we introduced Preethi in our last edition of Nexus Notes, you can read more about Tom in this edition’s Inside Nexus article. Also in this edition of Nexus Notes, we have an article that takes a deeper dive into investing during the time of COVID and a recap of the Q&A from our fireside chat on estate planning.

We recently held our annual client event, this year conducted by way of… you guessed it… a webinar. “2020 Vision: From Abnormal to the New Normal” revisits some of the shocking facts about the COVID pandemic, the surprising human resilience and ingenuity that have enabled us all to cope with the challenges, and what the new normal may look like for investors. If you missed the presentation, it is available on-line, including the client questions about the impact of the Biden presidency, Bitcoin and the future of office space in Toronto.

This edition will be my last as Editor. I have been at it for 20 years and it is time to pass the baton on to another member of our Nexus team – Brad Weber. He, like me, provides wealth planning services to our clients. He’s also an excellent writer. As editor, he is looking forward to sharing his insights with you, starting with the Q1 2021 edition.

Finally, ‘tis the season to be grateful. We are grateful for our health and the ongoing support of our clients. On behalf of the partners and staff here at Nexus, we wish you a healthy and peaceful holiday season.

The article title is a classic quote from Winston Churchill.

More Like This...

See another CRM2 blog post that may be of interest to you.

No posts found.

More Like This...

See another Foundations & Endowments blog post that may be of interest to you.

That Giving Feeling

Topic:
Foundations & Endowments, Tax Planning
Excerpt:
Summer is now a distant memory. In fact, a radio announcer declared only 77 days until Christmas. Ugh. It is usually in the last quarter of the year

More Like This...

See another Human Interest blog post that may be of interest to you.

Is COVID Giving You Scurvy?

Topic:
Human Interest
Excerpt:
The early ocean-going explorers learned the hard way that a lack of vitamin C can give you scurvy. And, according to Wikipedia, “the knowledge that

More Like This...

See another Inside Nexus blog post that may be of interest to you.

Onboarding in a Not So Normal World

Topic:
Inside Nexus
Excerpt:
Starting a new job can be nail-biting! We have all done it at some point in our lives and each time it brings a new sense of excitement, questions,

More Like This...

See another Investments blog post that may be of interest to you.

The Money Tree: A Twenty-Year Nexus Testimonial

Topic:
Investments
Excerpt:
In 2001, a then twenty-year veteran of the Bay St. investment industry who had received a pretty healthy post-“tech boom”, pre-“tech wreck” bonus,

More Like This...

See another Pearls of Wisdom blog post that may be of interest to you.

“Work, Work, Work, Work, Work, Work”

Topic:
Pearls of Wisdom
Excerpt:
This has been a busy year. I’ve had lots happening on the home front (a wedding!) and lots going on at the office (too long to list!) Managing work

More Like This...

See another Tax Planning blog post that may be of interest to you.

The (U.S.) Taxman Cometh

Topic:
Tax Planning
Excerpt:
Like the medical patient who expects to endure a fair bit of poking, probing and prodding from the doctor, clients of financial providers have had to

More Like This...

See another Wealth Planning blog post that may be of interest to you.

Living to 100… Is 100 the New 80?

Topic:
Wealth Planning
Excerpt:
It’s a common saying that there are two certainties in life, death and taxes. While we have a pretty good idea when we get taxed, which feels like all

On a Side Note…

See another CRM2 Nexus Notes Quarterly article that may be of interest to you.

No posts found.

On a Side Note…

See another Foundations & Endowments Nexus Notes Quarterly article that may be of interest to you.

No posts found.

On a Side Note…

See another Human Interest Nexus Notes Quarterly article that may be of interest to you.

Worth 1,000 Words

Topic:
Human Interest
Excerpt:
A little humour makes the world a better place.

On a Side Note…

See another Inside Nexus Nexus Notes Quarterly article that may be of interest to you.

From the Editor: Springtime

Topic:
Inside Nexus
Excerpt:
It’s official: it’s spring! Ever since people have been telling each other stories, they've used the different seasons as metaphors, and spring evokes

On a Side Note…

See another Investments Nexus Notes Quarterly article that may be of interest to you.

The Tail that Wags the Dog

Topic:
Investments
Excerpt:
We thank our friends at Northwood Family Office for having brought to our attention a fantastic book called, The Psychology of Money, written by...

On a Side Note…

See another Pearls of Wisdom Nexus Notes Quarterly article that may be of interest to you.

A Table for None, Please; Working From Home on the Rise

Topic:
Pearls of Wisdom
Excerpt:
Reading is one of the principal occupations in our profession. As we digest a wide range of material, interesting ideas and surprising facts – some

On a Side Note…

See another Tax Planning Nexus Notes Quarterly article that may be of interest to you.

The (U.S.) Taxman Cometh

Topic:
Tax Planning
Excerpt:
Like the medical patient who expects to endure a fair bit of poking, probing and prodding from the doctor, clients of financial providers have had to

On a Side Note…

See another Wealth Planning Nexus Notes Quarterly article that may be of interest to you.

Living to 100… Is 100 the New 80?

Topic:
Wealth Planning
Excerpt:
It’s a common saying that there are two certainties in life, death and taxes. While we have a pretty good idea when we get taxed, which feels like all