More than filing: How advisors can translate returns into roadmaps
Forty-two per cent of Canadians say money is their number one stressor1 — and tax season is a period where that pressure only intensifies as a full year of financial decisions comes under review.
For advisors, this is an opportunity to develop relationships by showing up and delivering clarity when it’s needed most.
Because where there is a gap, there is openness. And in that space, an advisor’s expertise does more than just inform. It opens a door to deeper strategic conversations that can build trust.
The gap between submitting and understanding
Canada’s tax system grows more complex every year. Yet, as of 2022, almost half of Canadians are relying on self-filing tools or compliance-based preparers;3 systems that complete returns but rarely provide insight into the calculations.
At the same time, only one out of three Canadians reported seeking financial advice in the 12 months preceding the Financial Consumer Agency of Canada’s 2024 survey; among them, half were specifically seeking tax planning support.4
This points to a deeper issue: many Canadians are likely submitting returns without the guidance needed to understand whether they maximized benefits or missed key details.
When advisors interpret results, they look beyond the numbers to translate results into decisions and strategy. In doing so, tax season shifts from being a snapshot of the past to a springboard for the future — with advisors using outcomes to guide next steps, like:
- Unused TFSA/RRSP/FHSA room and establishing a contribution schedule
- Household income variation and implementing income-splitting strategies where appropriate
- Charitable intentions and shifting donations from cash to securities for more efficient tax treatment
- Capital gain/loss positioning and planning controlled harvesting
- Business owner compensation structure and balancing salary/dividends with intention
The behind-the-scenes work that is felt, not seen
Collaboration can add another layer of advisory value. By working with the other financial professionals in a client’s life, such as accountants, advisors can strengthen a client’s sense of stability during the season.
Clients may not see each operational step, but they feel the impact and support that comes from a cohesive network working in their best interest.
The realized value of immediate clarity
Tax season is a time when the value of an advisor becomes crystal clear.
Unlike portfolio performance, which is not always the easiest measure of advisory impact, tax season offers opportunities for advisors to deliver guidance that clients feel the immediate value of, including by:
In this season, advisors become a comforting source of clarity — translating complexity into understanding, anticipating what may be overlooked and supporting decisions with structure rather than assumption.
Here, value is not theoretical or implied. It is practical and felt.
Stopping costly mistakes in their tracks
Clarity is always valuable, but it is an advisor’s year-round foresight that can prevent the kind of issues that become costly when overlooked — it’s prevention that can deliver the greatest savings and reinforce an advisor’s role as a steward of long-term outcomes.
Through observation, advisors reduce exposure by identifying common areas where issues tend to slip, including:
- Unintended capital gains: Capital gains can be triggered through routine activities like rebalancing or switching funds in non-registered accounts. Tracking account types and timing helps prevent surprises, including unexpected tax bills.
- Missed contribution deadlines: Missed RRSP, TFSA and RESP deadlines can impact contribution room, available deductions and government incentives. Advisors can help by monitoring key dates and encouraging proactive contributions.
- Cash donations where securities offer superior benefit: Donating appreciated securities may be more tax efficient than cash gifts. Highlighting the difference can help clients have more informed discussions with their tax advisors.
Rather than waiting for filing season to reveal what has already happened, advisors can guide clients through structured check-ins that keep them positioned and prepared throughout the year:
- Quarter one (Q1): Interpret the return, identify patterns and assess trends
- Q2: Adjust contributions, restructure accounts and begin implementing improvements
- Q3: Monitor gains and losses, evaluate positioning and optimize for efficiency
- Q4: Complete contributions, finalize charitable planning and prepare year-end file
This cadence shifts the advisory work from being about an annual review to year-round strategic positioning; the result is advice that feels forward moving and aligned with long-term objectives.
This is the time when trusted advisors lead forward
Tax season is ultimately one of the few times in the year when every individual— regardless of age, wealth level or investment profile — is actively thinking about money. Financial awareness is heightened, decisions feel immediate and planning becomes more tangible.
This creates space for questions that may not surface often:
For advisors, this is the perfect window to not only review outcomes but help shape the future by introducing strategy when individuals are most receptive to hearing it. This converts a seasonal requirement into a broader dialogue that extends well beyond a submission deadline.
In a time when individuals are looking for direction, the advisor who provides it could easily become the one they trust to lead them forward.
1FP Canada, 2025 Financial Stress Index: Key takeaways for financial planners, https://fpcanada.ca/2025-financial-stress-index
2 H&R Block, Only 7% of Canadians reviewed their T4 details when filing taxes last year; Less than 1 in 5 (17%) plan to this tax season, https://www.hrblock.ca/blog/only-7-of-canadians-reviewed-their-t4-details-when-filing-taxes-last-year-less-than-1-in-5-17-plan-to-this-tax-season-reveals-h-and-r-block-canada-study?utm_source=chatgpt.com
3Fuss, J., and N. Li., Personal income tax compliance for Canadians: How and at what cost? Fraser Institute, https://www.fraserinstitute.org/studies/personal-income-tax-compliance-canadians-how-and-what-cost
4Financial Consumer Agency of Canada, Spotlight on Canadians’ use of financial advice, https://www.canada.ca/en/financial-consumer-agency/programs/research/financial-advice.html
Worldsource Financial Management Inc. is a mutual fund dealer. Worldsource Wealth Management Inc. is a dual-registered firm, both as a mutual fund dealer and an investment dealer. Both Worldsource Financial Management Inc. and Worldsource Wealth Management Inc. are members of the Canadian Investor Protection Fund (CIPF) and the Canadian Investment Regulatory Organization (CIRO) and subsidiaries of Worldsource Group of Companies Inc., a wholly owned indirect subsidiary of the Fédération des caisses Desjardins du Québec (FCDQ), which is part of the Desjardins Group.
January 28, 2026