Helping couples manage their finances
The CSF publishes a new guide for its members in collaboration with Professor Hélène Belleau
Montreal, February 14, 2023 - The CSF has released a new guide to help its members advise their coupled-up clients manage their finances. Created in collaboration with Hélène Belleau, Ph. D., sociologist and tenured professor at the Institut national de recherche scientifique (INRS), this new tool will help advisors identify potential challenges based on their clients’ situation as a couple in order to meet their needs, while making them aware of the financial consequences of a possible separation or death.
“This new guide adds to the growing number of resources offered by the CSF to support its members and help them meet their many obligations. Advisors often have to address difficult topics with their clients, as many social issues can have financial implications. Through our collaboration with INRS and Ms. Belleau, we are pleased to provide them with a tool that can help them navigate between their clients’ reality and their professional obligations,” said Marie Elaine Farley, President and CEO of the CSF.
“Financial services advisors have an important information role to play with their clients. Very few spouses discuss the organization of their finances, and even fewer discuss a potential breakup, even though they are aware of the high divorce rates that characterize Quebec. This lack of planning can lead to significant long-term financial disparities that, in the event of separation, will have a disproportionate impact on the less affluent partner, who is almost always the female spouse,” added Ms. Belleau.
The guidebook Helping Couples Manage Their Finances is available in the InfoDéonto section of the CSF website. It is a companion piece to the larger Love & Money dossier, released in the fall of 2022, which combines information and continuing education for advisors with awareness initiatives for the general public.