What are you doing to prepare for CRM3?

In the last few months of the year, Canadian advisors are ramping up for the launch of Total Cost Reporting in 2027. Here are four ways to reinforce client trust through the transition:

Start now. The goal of total cost reporting is transparency, and if you want to be seen as aligned with this goal, it’s important that it doesn’t catch clients by surprise. Before the rollout in 2027, tell your clients what’s changing, what’s staying the same, and what it all means.

Communicate in terms of total value. Define the impact you make on your clients’ overall financial wellbeing, not just their portfolios. Stress after-fee performance, but also total net worth growth, professional network coordination, and deeply consequential services like retirement planning and tax management.

Put numbers to it. When connecting with individual clients, do what you can to put real numbers to the value you’re describing—the tax and cost savings you’ve helped them capture, the additional growth you’ve been able to generate, or the downstream effects of well-planned transitions. 

Don’t wait until client meetings. Start the conversation before your annual client reviews. Use your outward brand to explain the cost-value relationship of your service to anyone—not just current clients—who might be questioning what they’re getting.