Experts Matter. Find Yours.

Target Can’t Seem to Escape the Crosshairs

The on-again-off-again nationwide boycott of Target has the retailer’s new chief executive, Michael Fiddelke, officer facing relentless pressure from activists on both sides of the issue. David Primo, a professor of political science and business administration at the University of Rochester, says Fiddelke can’t seem to move Target from the crosshairs despite slashing prices on thousands of products and investing in stores, workers, and technology. “Target remains a battleground for activists on the left and the right, and its new CEO hasn’t yet figured out how to extricate the company from this role,” Primo recently told USA Today. “Fiddelke already faces a huge challenge in turning around a company with significant operational issues. This certainly doesn’t help matters.” Target has reported 13 straight quarters of sluggish sales. Company officials have admitted that shopper anger has contributed. Activists in Minneapolis, where Target is based, organized a nationwide boycott last year over the company’s rollback of diversity, equity, and inclusion policies. From church pulpits to community gatherings, the policy about-face was widely viewed as a betrayal of Black Americans who had propped up the retail giant’s bottom line. Primo studies corporate political strategies, among other areas, and regularly shares his insights with business journalists and political reporters. His essays have appeared in The New York Times and The Wall Street Journal, and he’s been interviewed by many radio and television outlets, including Bloomberg and National Public Radio. Contact him by clicking on his profile.

It's Sports Science Week on The Academic Minute -- an entire week dedicated to UConn experts

The Academic Minute is a two-and-a-half minute daily brief featuring researchers from colleges and universities around the world, keeping listeners abreast of what’s new and exciting in the academy. A different professor is featured each day, offering updates on groundbreaking research and how it helps us better understand the world around us. Hosted by Dr. Lynn Pasquerella, president of the American Association of Colleges and Universities, The Academic Minute airs on 70 stations around the United States and Canada, and twice daily on it's home station WAMC - Northeast Public Radio. This week, the entire program was focused on the science of sport with a new featured UConn expert each day. Monday Julie P. Burland, director of research at the Institute for Sports Medicine, examines how to predict in-season injuries for athletes. Tuesday Jennifer B. Fields, Assistant Professor in the Department of Nutritional Sciences, investigates why so many young athletes are flunking nutrition. Wednesday Dimitris Xygalatas, associate professor of anthropology, looks at sports fans for clues on how social rituals bind us together. Thursday Rebecca L. Stearns, associate professor-in-residence in the Department of Kinesiology, details potential strategies to prevent sudden deaths in sports. Friday Robert Huggins, assistant professor in the Department of Kinesiology, examines why there aren’t more athletic trainers on-hand at sporting events.

Target Market: Who Are They, What Do They Value, and Where Are They?

In last week’s column on Super Bowl ads, I stressed the importance of providing a value proposition when you are advertising or marketing your goods and services. As a reminder, a value proposition is a promise that you make to potential customers that provides them a compelling reason why they should buy your product rather than a product from one of your competitors. Prior to developing a value proposition, you first need to understand who you are trying to sell to and what product characteristics they value. This will ensure that your value proposition will be more likely convince these buyers (your target market) to buy from you. The most effective Super Bowl ads from last week did this important work well. Once the company has a good, valuable proposition, it then needs to communicate that valuable proposition to its target market. Fortunately for companies with Super Bowl ads, just about all target markets are watching the game. However, for pretty much all other advertising and marketing, it must communicate where the target market will see or hear it. In today’s column, I will walk you through how to determine who your target market is, what they value, and finally, where to distribute your marketing messages. You are probably asking yourself, why is a guy who teaches Operations and Supply Chain Management (O&SCM) writing about Marketing? The answer is simple, really. It is the job of the O&SCM function of the company to deliver on the value proposition. So, as marketing develops its value proposition, it must confer with O&SCM to determine if the firm can deliver on that value proposition. If marketing communicates a value proposition it cannot meet, the company will likely be unsuccessful. With that in mind, let us examine the target market/value proposition development process. As a firm begins to identify its target market for a particular product, it must first determine the various potential customers who might buy that product and attempt to partition those customers into groups who value similar things. For instance, looking at the automobile market, there are some customers who value low price most, some who value performance and aesthetics most, and others who value reliability, durability, and consistency. If we are either in the automobile market or thinking about entering the automobile market, we need to find a group that values some characteristics that we think we can provide better than other market entrants. As you can see, the identification of a target market and the development of a value proposition that will appeal to that target market are done concurrently and iteratively. As noted above, the O&SCM function of the company is also brought in during these iterations to determine if the physical good can be manufactured or a service can be delivered in such a way that it can meet the value proposition. One important thing to remember is that in most cases, you are not your target market. What I mean by that is that you are often biased by your own knowledge and taste/preferences, and this may differ significantly from what your target market values. Remember that you are a unique individual whose preferences for a price point and evaluation of other characteristics might differ from your target market. Be sure to develop a value proposition that reflects the buying habits of your target market customers. Once you have developed a strong value proposition that you know your O&SCM can deliver upon, it is time to message that value proposition in places where your target market is present. As noted above, this aspect of our process is like “shooting fish in a barrel” for Super Bowl advertisers because all target markets are typically watching the Super Bowl. It is not so trivial for the rest of us. We need to understand what forms of media our target markets consume (e.g., television, radio, social media), but also, with each of these media, which applications or types of shows do they frequent. While most think social media skews young, and that is true for the most part, Facebook skews older, while Instagram, Snapchat, and TikTok skew much younger. On television, much of network television skew older, but there are shows like “Dancing with the Stars” and The “Bachelor” that do particularly well with younger women. Many mornings when I am getting ready for the day, I listen to “Augusta’s Morning News” on WGAC radio, and it is clear that my fellow listeners are primarily in my age demographic. My advice is to do your homework and find out where your target market is consuming media. All the work above is not very easy, but doing it right will lead to big returns. If you can identify who you want to target, based on what they value, and then be sure they get the marketing message that you have what they value, your business will succeed!

Carney Cares. The Tax Code Doesn’t.

Retirement analyst and author Sue Pimento looks more closely at the just-announced "Canada Groceries & Essentials Benefit Program" in the broader context of the country's overall tax-and-benefit system. A closer analysis of steep GIS clawbacks layered on top of taxes shows that some seniors face tax rates comparable to those of the country's highest earners. Pimento argues that we should address this “participation tax” to ensure seniors earn more without being penalized for their work. Prime Minister Mark Carney just announced the Canada Groceries and Essentials Benefit. The intent is good. The relief is welcome. The tax code, however, did not get the memo. Important Disclaimer (Please Read) This article is for educational and discussion purposes only and does not constitute financial or tax advice. Canada's tax and benefit system is complex, highly individualized, and subject to frequent changes. Before making any financial or tax decisions, consult a qualified professional familiar with seniors' benefits, including GIS, OAS, CPP, and related clawbacks. Now that we've cleared that up, let's talk… Here’s a quick overview of what was announced. What the Canada Groceries & Essentials Benefit Program Covers Bigger Benefit Cheques: About 12 million Canadians will receive relief. Food Bank Relief: $20 million to food banks through the Local Food Infrastructure Fund. Food Supply: Immediate expensing for greenhouse buildings to bolster domestic production. Food Security: A national strategy including unit price labelling and enforcement by the Competition Bureau. Business Support: $500 million in supply chain support to help businesses absorb costs rather than passing them on to consumers. These ideas aren’t bad. Some are very sensible. Taken together, the Government estimates in its announcement that these measures would "provide up to an additional $402 to a single individual without children, $527 to a couple, and $805 to a couple with two children. They go on to say that at these levels, Canada’s new government will be offsetting grocery cost increases beyond overall inflation since the pandemic." On paper, this looks helpful. Unfortunately, paper has never had to buy groceries. But… You knew there was a “but” coming. Government announcements are legally required to include one. A Little-Known Tax Reality That Makes You Shake Your Head New research shows Canada's tax-and-benefit system disadvantages low-income seniors who work. The issue? It's hidden in the tax code. On January 28, 2026, a Zoomer Radio Fight Back discussion hosted by Libby Znaimer highlighted the issue. Guests included: • Gabriel Giguère, Senior Policy Analyst, Montreal Economic Institute • Jamie Golombek, Managing Director, Tax & Estate Planning, CIBC Financial Planning & Advice Their conclusion? Canada's tax system discourages low-income seniors from working exactly when they need income the most. Many seniors discover (usually the hard way) that a small side hustle doesn't always pay off. It can lead to higher taxes and benefit clawbacks. Work a little more, and Ottawa takes a lot more. Why Seniors Are Still Working Because the math doesn't add up. Either way. More than 600,000 older adults live below the poverty line. Meanwhile, rent, food, utilities, insurance, and property taxes are increasing faster than pensions ever did. More seniors are employed, particularly GIS recipients. MEI analysis indicates that GIS recipients with work income increased by 56% from 2014 to 2022, rising to 64% among those aged 65–69. These seniors aren't working for "fun money." They're working to keep the lights on and purchase medication. Reviewing the details reminded me of a long-standing issue in my research on income and cash flow for Canadians aged 55 and over.  Many Canadians can’t make ends meet and are forced to work well past 65. Yet Canada’s tax system punishes low-income seniors for working—exactly when they need income most. To understand why, we need to look at the Guaranteed Income Supplement. The Guaranteed Income Supplement (GIS) Program for Low-Income Seniors Here's how the GIS benefits work: • A non-taxable monthly benefit on top of Old Age Security for low-income seniors. • Roughly one-third of OAS recipients also receive GIS—over 2 million Canadians. • For a single senior with no other income, the maximum annual benefit is about $13,000. (Source: Government of Canada GIS website) The program has done meaningful work. Combined with OAS, CPP, and private pensions, Canada dramatically reduced senior poverty over the past half-century. But there’s a catch hiding in the design. Think of GIS as a hug that tightens when you try to stand up. The GIS Clawback Problem for Canadians GIS recipients can earn only $5,000 per year in employment income before clawbacks begin. After that, GIS takes back 50 cents of every dollar earned—before income tax and payroll deductions. A partial exemption applies to the next $10,000, where 25–37.5% is clawed back. The program helps seniors—right up until they try to help themselves. How the GIS Clawback Works Against Working Seniors Let me illustrate this. Meet Agnes.  She is about to learn more about marginal tax rates than any bookstore employee should.  Agnes is between 65 and 69 years old, lives alone, and receives OAS and CPP. Rising costs push her to take a job at a local used bookstore. She works about 15 hours a week at roughly minimum wage. Here annual gross employment income is about $13,000 Here’s what happens: • Her employment income triggers GIS clawbacks once she exceeds $5,000. • She pays income tax, CPP contributions, and sometimes EI premiums. • Between taxes and clawbacks, much of her earnings disappear. Simple version: Agnes works more hours but keeps far less than expected. When you keep 20 cents on the dollar, even capitalism looks confused. Agnes didn’t go back to work for the thrill of alphabetizing mystery novels. She did it to afford her prescriptions. A Canadian Tax System That Punishes the Wrong Thing If we’re going to test income, test investment income. Fine. Tax it. But employment income? Showing up? Working? The system treats that like misconduct. Once you add income tax, CPP contributions, and the loss of other credits, low-income seniors can face effective marginal tax rates of 70–80% on modest earnings. Nothing says “fairness” like taxing a bookstore clerk harder than a boardroom executive. As Gabriel Giguère of the Montreal Economic Institute has noted, "this level of taxation normally applies to wealthy Canadians—not seniors living in poverty."  In a well-researched economic brief, Giguère and Jason Dean, Assistant Professor of Economics at King’s University College at Western Ontario, present a compelling argument for policy change.   This comment by Giguère and Dean nicely sums up their key findings:   "For various reasons, including insufficient pensions to maintain their living standards, seniors are increasingly turning to work. Yet the current tax-and-benefit system merits reform as it undermines their efforts, with the harshest effect on low-income seniors." One-Time Credits Don’t Fix Structural Problems At Davos, Mark Carney famously said, “Nostalgia is not a strategy.” Fair point.  So why does our benefit system still behave as if retirement lasts ten years and ends with a gold watch? The system still thinks retirement lasts ten years and includes a gold watch. People are living longer. Many will spend 25 to 30 years in retirement. Some want to work. Many need to. A grocery credit helps. But a broken incentive structure still breaks people. Common Sense Tax Solutions the Canadian Government Should Consider 1. Raise the GIS earnings exemption The Montreal Economic Institute recommends raising it to around $30,000. Estimated cost: $544 million annually. Modest relative to the program’s size. 2. Exempt employment income from GIS clawbacks (at least partially) Keep testing investment income. Stop penalizing work. 3. Rethink retirement assumptions Policy built around “retire at 65 and earn almost nothing” no longer matches reality. None of these ideas are radical. They’re just… current. What to Ask Your Accountant About Your Tax Rate Get professional advice. Not generic advice. Not from Google. Not from your unemployed nephew. Ask specifically about: • Pension income splitting • Strategic RRSP contributions • Consulting or corporate structures where appropriate • Creative but compliant barter arrangements • CPP and OAS deferral strategies • Documentation. Lots of documentation. When clawbacks are involved, paperwork is your lifeboat. A Short, Honest Take Grocery relief is appreciated. The intent is good. But until Canada fixes a tax system that punishes low-income seniors for working, affordability will remain fragile. This isn’t about blame. It’s about aligning incentives with reality. Right now, it feels like we’re helping seniors swim by handing them bigger life jackets—while quietly drilling holes in the boat. And yes… I need to lie down. I feel another blog coming on. Apparently, exercising this much common sense counts as cardio. Sue Don't Retire...Re-Wire! Want more of this? Subscribe for weekly doses of retirement reality—no golf-cart clichés, no sunset stock photos, just straight talk about staying Hip, Fit & Financially Free.

Analyzing Legal Implications of Venezuela Intervention

Hofstra Law Professor James Sample has emerged as a leading legal analyst in national and regional media following the U.S. operation involving Venezuelan President Nicolás Maduro, offering expert commentary on constitutional authority, international law, and criminal procedure. Professor Sample appeared across major television, radio, and digital platforms, including ABC News, CBS New York, MS NOW, and Pacifica Radio, as developments unfolded surrounding the capture and federal prosecution. In multiple ABC News segments, Professor Sample analyzed the legality of the Venezuela operation under international law, characterizing the action as a potential violation of the United Nations Charter, and explained what to expect procedurally at the arraignment of Maduro and his wife on federal charges. His commentary also addressed the broader implications of asserting U.S. jurisdiction over a sitting foreign head of state.

The H³ Plan: How to Retire Without Losing Your Mind & How You Can Support Older Relatives

MEDIA ADVISORY Retirement planning expert Sue Pimento introduces her H³ Plan — a research-backed framework for maintaining mental and emotional health in retirement that goes beyond financial planning. The framework identifies three essential pillars — Hope, Help, and Horizon — that help combat the emotional flatness many retirees experience after leaving structured work. Drawing on neuroscience research and clinical insights, Pimento offers a practical "emotional pension plan" for the growing population of Canadians navigating this life transition. Sue Pimento is available for interviews on retirement wellness, healthy aging, and the psychology of life transitions. Retirement doesn't arrive with a crash. It arrives quietly. One day, you stop setting alarms, stop racing against the clock, stop feeling urgently needed—and no one gives you the mental and emotional playbook for what comes next. There should be a chapter titled:  How to Keep Your Brain Engaged, Regulated, and Not Mildly Irritated by Everyone. Instead? 404 page not found.  (Translation: the system is actively seeking guidance… and coming up empty.) And if you're nodding along thinking "yes… exactly" — IYKYK. (If You Know, You Know. And if you don't yet, give it time.) Understanding Your Emotional Pension Plan After years of writing, researching, listening, and living through this stage myself, three factors consistently emerge as essential to maintaining mental and emotional health as we age. I call it H³: Hope, Help, and Horizon. Here's why each one matters—and why neglecting any of them leaves you emotionally drained. Think of them as your emotional pension plan — not optional, not fluffy, but essential. 1. Hope: Not Just Wishful Thinking — Agency, Clarified In her reflective New York Times article, "Your Hopes," journalist and believing host Lauren Jackson examines increasing cynicism, waning trust, and—most importantly—what research indicates truly can turn the tide.  One line sums up the difference perfectly: Optimism is believing the future will improve. Hope is believing you can make it so. Here's why that matters. Optimism versus Hope (Plain-English Edition) Optimism is passive: "Things will probably work out." Hope is active: "I can influence what happens next." Optimism awaits. Hope takes part. From a psychological perspective, hope is based on: • Agency (I am able to act) • Pathways thinking (I can find a way) Research from the University of Oklahoma's Hope Research Center indicates that hope is one of the strongest predictors of well-being, often surpassing income, education, and even past success. For retirees, this distinction is important because aging narratives often aim to gently remove us from the driver's seat. Hope replies with something more like: Back off, sister. I refuse to buy into outdated stereotypes. I've upgraded to a more modern version of aging—like a new iPod model. (Stereos are out of style. Keep up.) Hope maintains the nervous system in an engaged state rather than resignation. In fact, some see hope as far more nuanced. Frank O’Dea, best known for his personal comeback story — from being homeless to later becoming a very successful coffee entrepreneur as the co-founder of the Second Cup shares his thoughts in his book, “Hope is Not a Strategy.” His personal narrative reinforces a deep belief in hope as a powerful emotional engine, but never as a substitute for action. O’Dea, who later went on to be a co-founder of the Second Cup Coffee Company and is a recipient of the Order of Canada for his philanthropy and humanitarian work, speaks to the human tendency to confuse optimism with preparation — people often wish their way into opportunity, rather than work their way into readiness. I love this line from his book: “Hope is important — it gives us purpose. But without a strategy, it leaves us vulnerable. We win not by wishing, but by working.” — Frank O’Dea 2. Giving Back: Your Brain's Favourite (Unpaid) Job Giving back isn't about virtue. Or virtue signalling on social, for that matter. (It's not a branding exercise. No hashtag required.) It's about nervous system regulation. Over the holidays, I was listening to an interview on CBC Radio and found myself doing that thing where you stop playing Vita Mahjong mid-game because someone said something so logical but also completely fascinating. Gloria Macarenko’s episode with Vancouver-based psychologist and therapist Lawrence Sheppard explored in detail how giving back influences us and what he has personally observed in his practice. The message? Giving back is a key factor for mental health. Certainly, we've all heard the well-known phrase "tis better to give than receive"—or a version of it. But Sheppard wasn't referring to virtue or being kind. He was discussing what truly happens in the brain when we give. Here's the short version: Helping others shifts the brain out of threat mode and into meaning mode. So what's Happening Neurologically? Building on Sheppard's clinical work and broader neuroscience: • Chronic stress forces the nervous system to stay hyper-vigilant. • Rumination shifts inward and intensifies the sense of threat. • Contribution shifts focus outward • Helping activates reward pathways and emotional regulation. Giving back restores balance. • purpose • structure • connection • competence Giving back reminds your brain it's still engaged—just not earning money. (My definition of volunteering. Not Webster's.) And many retirees miss that feeling more than the salary. They also miss the tangibles: vinyl records, 99-cent bread, and the quiet satisfaction of being needed somewhere at 9 a.m. Importantly, giving back—like hope—helps regulate the nervous system by decreasing feelings of isolation and restoring a sense of predictability. Your brain prefers knowing where it belongs. 3. Something to Look Forward To: Anticipation Is Medicine This one is sneaky powerful—and well documented. Having something to anticipate generates excitement. And excitement is not merely a feeling. It's a nervous system event. Here's the connective tissue: All three pillars—hope, giving back, and anticipation—work because they shift the nervous system away from threat and stagnation, and toward engagement, reward, and regulation. The Science (Why Anticipation Works) Research by neuroscientist Wolfram Schultz showed that dopamine spikes most strongly before a reward—not during it.  Later studies in affective neuroscience confirmed: • Anticipation boosts motivation and positive emotions. • Future-oriented thinking diminishes depressive rumination. • Predictable positive events enhance mood regulation. In plain English: Your brain lights up when it knows something good is coming. In many instances, anticipation offers more emotional uplift than the event itself. Think: • first date • first kiss • first solo trip • first "I can't believe I'm actually doing this" moment You cannot buy that feeling in a bottle. (Not even the little blue pill will do it.) Why This Matters in Retirement Work used to provide: • deadlines • milestones • future orientation • purpose • feedback • connection • a sense of accomplishment And yes—before anyone writes me a letter—stay-at-home moms, caregivers, and volunteers: that is work. Don't get me started. When structured work concludes, those inputs aren't automatically replaced. Without things to look forward to: • time flattens • mood dulls • life becomes emotionally beige Something—anything—on the calendar restores forward motion. What Giving Back Looks Like in Real Life My friend Janet retired at 63 with a solid financial plan and no emotional plan. Six months in, she was climbing the walls—bored, restless, wondering why she felt so flat when she "should" be enjoying herself. Then she started tutoring at the library (Help), signed up for a pottery course (Horizon), and realized she could actually shape this chapter however she wanted (Hope). Different person. Same retirement account. Completely different nervous system. Big Things Are Overrated Waiting for something big to look forward to is often just perfectionism wearing a sensible cardigan. We tell ourselves the next big milestone will fix everything, when in reality, progress usually happens in a game of inches. Small choices, taken consistently, create big shifts. Direction beats intensity every time.  As I wrote in my last blog about my Everest Base Camp and MBA journey: Even Cs get degrees. And I'll add: Consistent B- work wins most races. Small counts: • weekly plans • standing dates • tickets bought months ahead • regular commitments Anticipation is hope with a calendar invite. The H³ Framework for a Happy Retirement (Hope. Help. Horizon.) All three regulate the nervous system and keep us engaged. Hope — I can still shape things Help — I'm useful and connected Horizon — My life has forward motion If life feels flat, add one from each column. That's the prescription. Retirement isn't just about slowing down. It's about re-wiring. In plain English: You are not done yet! Remember, hope keeps you engaged. Giving back keeps you grounded. Looking forward keeps you light.  Or, translated: A happy retirement isn't passive. It's practiced. A Note for Those Supporting Older Relatives If you have aging parents, relatives, or friends in your life, be on the lookout for signs of depression, resignation, or apathy. The signs are obvious if you're paying attention: flat affect, repetitive complaints, withdrawal, that vague sense they're just going through the motions, or their smile doesn't reach their eyes. Here's what not to do: point it out directly or suggest they "find a hobby" or "volunteer somewhere." Here's what does work: create Hope and Horizon by scheduling regular outings—lunch, a walk, a movie, anything with a date attached. Sometimes we underestimate how much seniors look forward to our visits and connections. It's better than any tonic or medication to lift spirits, young and old. In this scenario, action speaks louder than words. Talking about depression often brings up shame and further withdrawal. Instead, think of love as a verb, not a noun. You don't need to fix anything. Just show up. Regularly. Predictably. No grand gestures. No reinvention required. Just presence with a pulse - and notifications on mute! Be that person! Don't retire. Re-wire. — Sue Want more of this? Subscribe for weekly doses of retirement reality—no golf-cart clichés, no sunset stock photos, just straight talk about staying Hip, Fit & Financially Free.  Subscribe Here

Why Are Canadian Banks Not Protecting Seniors? The $40 Billion Dollar Question

After an 89-year-old Victoria man lost $1.7 million to phone scammers despite bank red flags, retirement expert and authour, Susan Pimento, exposes a critical protection gap: while U.S. banks like Bank of America offer "Trusted Contacts" (designated people banks call to verify suspicious transactions) for all accounts, Canadian banks restrict this safeguard to investment accounts only—leaving everyday banking vulnerable where most fraud occurs. In Canada, senior fraud is vastly underreported (RCMP estimates only 5-10% surface), and banks are treating this as a cost issue rather than a moral crisis.  Susan Pimento is available for interviews to discuss practical solutions, industry insights from her decades of work within financial institutions, and why Canadian banks are failing to implement a simple fix that could save seniors' life savings. Connect with her directly through ExpertFile to schedule TV, radio, podcast, or print interviews.  As I was polishing this post for Canadian Financial Literacy Month, another senior fraud story flashed across my screen. This one stopped me cold. According to this CBC story, an 89-year-old man in Victoria, B.C., was tricked into handing over nearly $1.7 million of his life savings in a months-long phone scam. The caller claimed to be from the fraud department at CIBC and said he was helping with a national money-laundering case. (Spoiler: he wasn't.) Despite red flags and staff awareness, the bank still allowed large in-person withdrawals. He was told to buy gold bars — yes, actual gold bars — with drafts of up to $395,000, which couriers then collected like some twisted Uber Eats retirement fraud. Every week in Canada, we see another heartbreaking headline: a senior sends thousands, sometimes millions, to a scammer pretending to be their grandchild, the CRA, or — the ultimate irony — their bank.  These scams targeting seniors don't require fancy hacking. They rely on fear, isolation, and misplaced trust. Once the money's gone, it's gone—no refund policy. And here's the kicker: what we're reading about is just the tip of the iceberg. For seniors, fraud now ranks as the top crime, and most fraud goes unreported—especially in this demographic. In a previous post, I showed how the data suggests the real figures could be 10 to 20 times higher than what's officially reported.  The RCMP estimates that only 5-10% of fraud victims come forward. Many victims never speak out due to embarrassment, fear, or confusion. Translation? For every story that makes the news, countless others suffer in silence. How The Banking Industry Can Actually Fight Fraud I've worked within financial institutions for decades. Let's just say I understand how the process works. Banks have billion-dollar tech stacks, layers of compliance, and advanced fraud detection systems that can flag a suspicious $47 transaction in milliseconds. But the solution for this type of fraud isn't a multimillion-dollar algorithm or a new "AI-powered fraud prevention dashboard." Instead, it's a human-based approach called a Trusted Contact. What's a "Trusted Contact," Anyway? It's not an app, a chatbot, or some new gadget that requires a firmware update every Thursday. It's a person.  Someone you trust — a family member, attorney, accountant, or another third-party who you believe would respect your privacy and know how to handle the responsibility of communicating with your bank in your best interests if something suspicious occurs. They don't access your money or view your accounts. They can't see that you spent $47 at the LCBO last Tuesday (Your secret is safe). They're simply your human safety net — a fraud wing person, if you will. The Origins of the Trusted Contact The concept began in the U.S. in 2018, when FINRA mandated investment firms to request a Trusted Contact Person. Canada followed in 2022, when the Canadian Securities Administrators introduced similar guidance for investment accounts. What things can be discussed with a trusted contact? As its name implies, a Trusted Contact is a designated person who is inherently trusted by the individual (and has no authority to transact business on a client’s account), so there is little to no danger that any reasonable disclosure would violate a client’s trust or give rise to any material issue.” What Canadian Banks Are Doing...And Not Doing Here's the good news. If you invest through Wealthsimple, RBC Direct Investing, TD Direct, or BMO InvestorLine, you can already designate a Trusted Contact. But here's where it gets ridiculous: RBC Direct might have that security feature — but your regular RBC chequing account? Not so much. That protection vanishes the moment Mom or Dad logs into their everyday banking. And that's where most fraud actually occurs. It's like installing a state-of-the-art security system on your front door but leaving the back door wide open with a welcome mat that says "Scammers Enter Here!" Fraud in Canada for Banks is Still a Budget Item: Not a Moral Crisis Here's the uncomfortable truth: For banks, fraud is considered a "cost of doing business." And since most of those losses are borne by customers, not the bank, there isn't much urgency to innovate.  The Big Five earned over $40 billion in total last year. They have the means to care. They're not particularly motivated to actually do so. The Big Opportunity for Banks: Add a Little Humanity to the System Banks like to boast about their AI, blockchain, and next-gen fraud analytics. But most scams don't occur because of breached firewalls — they happen because of breached hearts. A Trusted Contact provides an additional simple, low-tech layer: human verification. Picture this: The bank spots an unusual transaction — a large new payee, an international wire transfer, or a sudden gold-bar purchase (it happens). Instead of sending another automated text alert, the system could ask: "This looks unusual. Would you like us to confirm with your Trusted Contact before proceeding?" or “Just a heads-up: scammers often use urgent or unusual requests. Prefer we run this by your Trusted Contact before we proceed?” That's it. One additional step. One extra set of eyes. One brief conversation could save someone's life savings. This isn't about limiting independence — it's about safeguarding autonomy. Ensuring your decisions are genuinely yours, not the scammer's. Banks could even call it "Senior Protection Mode." I'd sign up tomorrow. Heck, I'd pay extra for it. (Shhh, don't tell them that.) Here's the Proof Trusted Contacts Work: Bank of America Did It In 2022, Bank of America became the first major bank to extend Trusted Contacts beyond investment accounts to everyday banking clients. Customers can now add a trusted person the bank can call if something seems wrong, if they can't reach you, or if staff suspect undue influence. That person can't access your money — they're just the human speed bump before disaster: one simple form, one phone number, and much heartbreak avoided. If Bank of America can do it, why can't ours? Canadian banks already have the tech — and indeed the profits — to make it happen. What's Holding Canada's Banks Back? Cue the usual excuses: "Our legacy systems can't handle that." Sure — some of your code still thinks "Y2K" is an active threat. But if you can build an app that tracks my latte points and sends me notifications about my "spending insights,"  you can add one field for a Trusted Contact. "Privacy laws make it risky." Nope. FINRA and the CSA already provide safe-harbour protections. With consent, banks can legally contact a Trusted Person. Just add a checkbox. You love checkboxes. You make us check dozens of them every time we update our password. "Customers haven't asked for it." They're asking now. Loudly. With megaphones. And pointing at stories like the Victoria gentleman who lost $1.7 million in gold bars. The business case has historically been weak because most fraud losses affect customers, not the bank's balance sheet. But here's the catch: every fraud story damages trust. And in banking, trust is supposed to be the core of the business. For Canadian Banks There's a Competitive Advantage in Caring Rolling out a Trusted Contact feature isn't just good ethics; it's good business. Imagine the marketing campaign: "We don't just protect your password — we protect your peace of mind." Seniors would love this. So would their kids. That's multi-generational loyalty money can't buy. If EQ Bank or any challenger brand wanted a PR home run, this would be it. It's Time to Take Action on Fraud To the Banks: Stop waiting for regulators to force your hand. Lead. Be the first to offer Trusted Contacts for all customers — not just investors. You have the framework, the talent, and the budget. You absolutely do not need another consultant to tell you this is the right thing to do. To Policymakers: The Financial Consumer Agency of Canada should update its Code of Conduct to include a mandatory Trusted Contact option for all customers, safe-harbour rules allowing banks to pause suspicious transactions, and annual public reporting on outcomes. Because sunshine is the best disinfectant, even in banking. To Consumers: Don't wait for policy — be the policy. Ask your bank today if you can add a Trusted Contact. If they say no, ask why not — and post it. Loudly. Talk to your family. Choose your Trusted Person now. Write your MP or MPP and ask why U.S. banks protect seniors better than ours. Remember the $3 ATM Fee Rebellion?  Canadians once revolted over paying $3 to access their own money at ATM's. We later got no-fee accounts, digital challengers, and a whole new generation of more innovative banking.  If we can rally over an ATM fee, surely we can rally to protect our parents and grandparents from losing their life savings. Fraud isn't an inevitable part of aging — it's a solvable problem. And Trusted Contacts are one of the simplest, most human solutions we have. Don't Forget Two-Factor Authentication for the Soul Adding a Trusted Contact won't stop all fraud — let's be clear about that. But it will go a long way toward slowing it down, adding a common-sense pause, and potentially saving even one senior from losing any part of their hard-earned money. It's unfortunately too late for that gentleman and his family in BC, but it's not too late for countless others. This won't crash legacy systems or drain bank profits. It just adds a little humanity back into banking — right where it belongs. Because the best kind of security isn't just two-factor authentication. It's two people who care. And if we don't care about protecting our elders, who exactly do we care about? Sue Don’t Retire…Re-Wire! Want to become an expert on serving the senior demographic? Just message me to be notified about the next opportunity to become a "Certified Equity Advocate" — mastering solution-based advising that transforms how you work with Canada's fastest-growing client segment.

Avoiding the Reverse Mortgage Reflex

Every once in a while, an industry article really hits the mark. Recently, one did just that—Canadian Mortgage Trends' "Who Uses Mortgage Brokers Today and Why? (Part 2)" gave seniors their own category, not as an afterthought, but as a client segment worthy of attention. Bravo. It's about time someone acknowledged that older Canadians aren't just "another niche." But then… came the reverse mortgage section. Don't get me wrong—it's refreshing to see financial professionals finally acknowledge that Canada's aging population presents both opportunities and complexities. But suggesting that "helping seniors" automatically means "offering a reverse mortgage" is like telling everyone who's thirsty to drink espresso. Some will love it. Others will lie awake at 3 a.m. with regrets. Let's call it what it is: type-casting seniors into a product. The Reverse Mortgage Reflex There's a curious habit in our industry. Mention the word "senior" and watch what happens: eyes light up, marketing decks shuffle, and—as if on cue—the term "reverse mortgage" materializes like a pop-up ad from 2007. It's as if the entire profession has agreed that every retiree with a pulse and property must be yearning to re-mortgage their home. Except… most aren't. Most seniors spent decades teaching their kids to avoid debt and pay off mortgages as quickly as possible CBC Radio. Suggesting they should now joyfully jump back into one to "solve retirement" isn't just unappealing—it's borderline insulting. Here's the truth: no one dreams of retiring into debt. And the numbers bear this out. Debt Levels: While only about a quarter of people over 65 had debt in the late 1990s, that figure has climbed to more than 40% today (Source: CBC News). Anxiety Levels: Nearly 50% of retirees now worry about their debt, according to the Credit Counselling Society. Reverse mortgages can absolutely be valuable tools. The reverse mortgage market has exploded, with over $8.2 billion in outstanding debt as of June 2024—an 18.3% increase from the previous year (Source: MoneySense). But offering one before understanding the client's full picture isn't being a trusted advisor—it's running on sales autopilot. Brokers, You're Better Than This Brokers pride themselves on being client advocates—the ones who shop the market, decode fine print, and find creative solutions when banks can't. The very definition of a broker is someone who matches the right solution to the customer's needs. So why, when it comes to seniors, do many skip the most important part—the needs assessment—and leap straight to the product? It's backwards. While it may seem very simple, a proper financial conversation starts with identifying the problem, then illustrating a solution, and finally defining the intended outcome. • Why does this person need to access equity? • What problem are they really solving? • How do they define "financial comfort" The first step of solution selling isn't talking—it's listening. Start With the Need, Not the Product Before reaching for any rate sheet, it's critical to understand the client's true priorities. According to research from HomeEquity Bank, 9 in 10 Canadians want to age in place and live out their retirement years in the comfort of their home (Source: Canadian Mortgage Trends). But their financial needs are as diverse as their travel insurance policies. The reality is stark: A 2024 survey by the Healthcare of Ontario Pension Plan (HOOPP) found that 39% of Canadians aged 55-64 have less than $5,000 in savings, and 73% have $100,000 or less. More than half of Canadians over 60 who remain in the workforce do so out of financial necessity, not choice (Source: CBC Radio). Ask the right questions: • Do they need to eliminate high-interest debt? • Do they need cash flow to cover rising expenses? • Are they struggling to afford in-home care or medical support? • Do they want income stability—that pension-like feeling—rather than a lump sum? • Do they want to downsize, relocate, or age in place with dignity? Only after understanding the full financial picture can you propose the best, most robust solution. That's not just good practice. That's respectful advising. Solution Selling: Connecting the Dots Here's a classic example: A client walks in with a paid-off home and a stack of monthly bills that feel heavier than the Sunday paper. They're anxious about cash flow but debt-averse. The reflex answer? "Reverse mortgage!" Not so fast. Solution sellers focus on understanding customers' challenges and delivering ideas that address their daily needs, rather than pushing products. When clients can see exactly what they're getting, they make better decisions and advisors earn lasting trust through transparency, not sales pressure. Maybe downsizing to a more manageable property makes sense. Perhaps a small secured line of credit covers the gap without interest compounding as quickly. Maybe an annuity provides steady income with less long-term cost. Or maybe—just maybe—they don't need a mortgage at all. Consider that a $100,000 reverse mortgage balance can grow to $150,000 in just 5 years at current rates, with interest compounding annually. When you solve the real problem (not just the balance sheet), you build lasting trust and genuine loyalty. The Psychology of the Senior Client It's not just about the math; it's about the mindset. Here's where most brokers stumble: they treat all seniors as if they're cut from the same cloth. They're not. Let's get real: seniors aren't a monolithic group. A 55-year-old and an 85-year-old? They're separated by 30+ years of life experience, different communication styles, varying financial literacy, and completely different emotional triggers around money. Cookie-cutter advice doesn't cut it. The best advisors listen first. They ask questions. They assess each client's actual financial situation—not what they assume it is—and then deliver advice that fits that person's life, not some generic "senior strategy." Respect Is the Real Differentiator Understanding a client's lifestyle, fears, and goals isn't just good ethics—it's good business. Seniors have finely tuned radar for sincerity. They can smell a sales pitch faster than a Labrador finds bacon. Want to stand out? Lead with curiosity, not a contract A holistic, solution-based approach positions you as a trusted advisor—not a product pusher. Once you earn that trust, referrals flow like coffee at a church social. From Product Pushing to Purpose Selling Here's the shift our industry needs:  Stop viewing seniors as a market. Start viewing them as individuals with layered needs. Solution selling isn't anti-reverse mortgage—it's anti-assumption. It ensures the whole problem gets solved, not just the one that fits your product lineup. Yes, over 25% of Canadians aged 55 and older are considering a reverse mortgage (Source: Canadian Mortgage Trends), and it might eliminate a monthly payment—but if it doesn't solve for cash flow, health costs, or income stability, you've only done half the job. The real opportunity? Elevate the conversation from product placement to purpose-driven advising. Advisors, Reset Your Lens Seniors don't need to be sold. They need to be understood.  Give them the dignity of choice, the respect of time, and the power of informed decision-making. When advisors show prospective clients detailed solutions, it allows clients to properly assess the quality of advice and make fully informed decisions, supporting healthy long-term relationships The best brokers—the ones shaping the next chapter of this industry—don't just sell mortgages. They sell confidence, clarity, and control. And that, my friends, is how you truly help Canadians retire hip, fit, and financially free. Want to become an expert on serving the senior demographic? Just message me to be notified about the next opportunity to become a "Certified Equity Advocate" — mastering solution-based advising that transforms how you work with Canada's fastest-growing client segment.

UD physicists track one of the most powerful solar flares in nearly two decades

A massive solar flare – possibly the strongest recorded in nearly 20 years – has unleashed a wave of charged particles toward Earth, sparking radio blackouts across parts of Africa and Europe and triggering measurable increases in radiation levels worldwide. At the University of Delaware, physicists Pierre-Simon Mangeard and John Clem are closely monitoring the event through UD’s neutron monitor network, a global system that tracks cosmic radiation from observatories in Newark, Greenland, Canada, Antarctica and Hawaii. “This is a significant event, still in progress,” said Mangeard. The physicists are seeing a roughly 65% increase in ground-level radiation, which is possibly the largest since 2006.  These elevated readings are known as a Ground Level Enhancement (GLE) – a rare occurrence caused by high-energy particles accelerated by solar flares that penetrate Earth’s magnetic field and reach the surface. The data being collected now will help researchers better understand how such bursts of solar activity impact Earth’s atmosphere, communications systems and even aviation safety. Clem and Mangeard’s work at UD’s Bartol Research Institute and Department of Physics and Astronomy contributes to global efforts to monitor and predict space weather events, including solar storms and coronal mass ejections. The team’s continuous, real-time data help scientists worldwide assess potential disruptions to satellites, power grids and high-altitude flights. As analysis of this flare continues, UD’s neutron monitor network will remain a key resource for understanding how space weather events ripple through our planet’s systems. Experts available for interviews: • Pierre-Simon Mangeard, research associate, Department of Physics and Astronomy • John Clem, associate professor, Department of Physics and Astronomy To contact Mangeard or Clem, email mediarelations@udel.edu.

Heart valve developed at UC Irvine shines in early-stage preclinical testing

UC Irvine researchers designed and developed a minimally invasive replacement pulmonary heart valve. Created for pediatric patients, the device can be expanded as children grow, eliminating the need for multiple surgeries. The team successfully conducted laboratory and early-stage animal feasibility testing of the implant, crucial steps toward approval for human use. Irvine, Calif., June 23, 2025 — Researchers at the University of California, Irvine have successfully performed preclinical laboratory testing of a replacement heart valve intended for toddlers and young children with congenital cardiac defects, a key step toward obtaining approval for human use. The results of their study were published recently in the Journal of the American Heart Association. The management of patients with congenital heart disease who require surgical pulmonary valve replacement typically occurs between the ages of 2 and 10. To be eligible for a minimally invasive transcatheter pulmonary valve procedure, patients currently must weigh at least 45 pounds. For children to receive minimally invasive treatment, they must be large enough so that their veins can accommodate the size of a crimped replacement valve. The Iris Valve designed and developed by the UC Irvine team can be implanted in children weighing as little as 17 to 22 pounds and gradually expanded to an adult diameter as they grow. Research and development of the Iris Valve has been supported by the Eunice Kennedy Shriver National Institute of Child Health and Human Development; the National Heart, Lung, and Blood Institute; and the National Science Foundation. This funding has enabled benchtop fracture testing, which demonstrated the valve’s ability to be crimped down to a 3-millimeter diameter for transcatheter delivery and subsequently enlarged to 20 millimeters without damage, as well as six-month animal studies that confirmed successful device integration within the pulmonary valve annulus, showing valve integrity and a favorable tissue response. “We are pleased to see the Iris Valve performing as we expected in laboratory bench tests and as implants in Yucatan mini pigs, a crucial measure of the device’s feasibility,” said lead author Arash Kheradvar, UC Irvine professor of biomedical engineering. “This work represents the result of longstanding collaboration between our team at UC Irvine and Dr. Michael Recto at Children’s Hospital of Orange County built over several years of joint research and development.”  Congenital heart defects affect about 1 percent of children born in the United States and Europe, with over 1 million cases in the U.S. alone. These conditions often necessitate surgical interventions early in life, with additional procedures required to address a leaky pulmonary valve and prevent right ventricular failure as children grow. The Iris Valve can be implanted via a minimally invasive catheter through the patient’s femoral vein. The Kheradvar group employed origami folding techniques to compress the device into a 12-French transcatheter system, reducing its diameter to no more than 3 millimeters. Over time, the valve can be balloon-expanded up to its full 20-millimeter diameter. This implantation method, along with the ability to begin treatment earlier in very young patients, helps mitigate the risk of complications from delayed care and reduces the need for multiple surgeries in this vulnerable population. “Once the Iris Valve comes to fruition, it will save hundreds of children at least one operation – if not two – throughout the course of their lives,” said Recto, an interventional pediatric cardiologist at CHOC who’s also a clinical professor of pediatrics at UC Irvine. “It will save them from having to undergo surgical pulmonary valve placement, as the Iris Valve is delivered via a small catheter in the vein and can be serially dilated to an adult diameter and also facilitate the future placement of larger transcatheter pulmonary valves – with sizes greater than 20 millimeters, like the Melody, Harmony and Sapien devices – if needed.” Kheradvar said that the next phase of preclinical testing of the Iris Valve is funded by the Brett Boyer Foundation, which is committed to supporting research into treatments for congenital heart disease. “We are actively engaged with the U.S. Food and Drug Administration to define and carry out the required experiments and documentation for first-in-human authorization of the Iris Valve,” Kheradvar said. “Our team is urgently advancing the Iris Valve through preclinical studies to enable its clearance for first-in-human use. This is a critical step toward providing toddlers – who currently have no viable minimally invasive treatment until they reach the 45-pound threshold – with a much-needed option.” First co-author Nnaoma Agwu, a biomedical engineering Ph.D. candidate at UC Irvine, said: “The development of the Iris Valve required a strong and knowledgeable team that understood the clinical and mechanical design requirements. This accomplishment would not have been possible without the collaboration of talented clinicians, veterinarians and engineers. With this milestone reached, we are rigorously advancing the Iris Valve’s development, setting our sights on human clinical trials.” Joining Kheradvar, Recto and Agwu as co-authors of the article in Journal of the American Heart Association were Daryl Chau, a recent UC Irvine master’s graduate; Gregory Kelley and Tanya Burney, both research specialists at UC Irvine, with Burney also affiliated with the Beckman Laser Institute; Ekaterina Perminov, a clinical veterinarian with UC Irvine’s University Laboratory Animal Resources; and Christopher Alcantara, a radiology technician at CHOC. About UC Irvine’s Brilliant Future campaign: Publicly launched on Oct. 4, 2019, the Brilliant Future campaign aims to raise awareness and support for the university. By engaging 75,000 alumni and garnering $2 billion in philanthropic investment, UC Irvine seeks to reach new heights of excellence in student success, health and wellness, research and more. The Samueli School of Engineering plays a vital role in the success of the campaign. Learn more by visiting https://brilliantfuture.UC Irvine.edu/the-henry-samueli-school-of-engineering About the University of California, Irvine: Founded in 1965, UC Irvine is a member of the prestigious Association of American Universities and is ranked among the nation’s top 10 public universities by U.S. News & World Report. The campus has produced five Nobel laureates and is known for its academic achievement, premier research, innovation and anteater mascot. Led by Chancellor Howard Gillman, UC Irvine has more than 36,000 students and offers 224 degree programs. It’s located in one of the world’s safest and most economically vibrant communities and is Orange County’s second-largest employer, contributing $7 billion annually to the local economy and $8 billion statewide. For more on UC Irvine, visit www.uci.edu. Media access: Radio programs/stations may, for a fee, use an on-campus studio with a Comrex IP audio codec to interview UC Irvine faculty and experts, subject to availability and university approval. For more UC Irvine news, visit news.uci.edu. Additional resources for journalists may be found at https://news.uci.edu/media-resources.