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This is the stuff you millionaires in the making need to know to kick start or propel you on your financial fitness journey. Tracey Bissett, Founder of Bissett Financial Fitness and award winning Financial Literacy Champion, gives you the straight goods each week to set yourself up for financial success. As a former executive at TD Bank, one of Canada's Big 5 Banks, Tracey has worked with and in support of thousands of individuals and entrepreneurs to secure the financing they needed.  This hands on experience combined with her formal financial education, Masters of Business Administration and Chartered Financial Analyst designation, position Tracey uniquely to coach all things money. Tracey goes behind-the-scenes of all the money matters with need-to-know tips, money-making demystified, and special power-player interviews. Join us weekly for Financial Fitness Training that will turn even a Cash Couch Potato into a Marathon Money Maker.

Feb 27, 2018

As the President and CEO of the Canadian Bankers Association (CBA), Neil Parmenter plays a primary role in the development of Canada’s public policy concerning financial services that contributes to a sound, successful banking system that benefits Canadians and Canada's economy. Prior to working with CBA, he was the Senior Vice President and the Chief Communications Officer at TD Bank Group where he led and advised senior management regarding issues in communications, government relations, and public affairs. With 25 years in banking both in Canada and the U.S., Neil currently leads CBA’s education programs on financial literacy and conveys the viewpoint of the financial industry to the government, stakeholders, and the public.

Neil joins me today to share how technology is changing and impacting the banking system in Canada. He shares some challenges he faced as a young man who was starting to learn about financial affairs. He also discusses what is going on in the banking system in Canada, shares his insights on fintech and the exciting items on CBA's agenda that they are working on for the benefit of Canadians.


“The key is to be curious -- learn what’s next, what’s coming, what’s the potential upside, and what are some of the risks that we need to deal with.” - Neil Parmenter


This Week on Young Money:

  • Why financial literacy is a fundamental life skill everyone should learn
  • Key success factors in Neil's career to date
  • How technology is shaping banking today for tech savvy customers
  • What Canada Revenue Agency’s website, My CRA, is designed to do and ways to access your tax filing documents
  • What fintech is, why it is so important and different ways to look at it
  • How fintechs can be successful by utilizing and making meaning of the data that people post online so that financial product offerings can be tailored to what they need at the time
  • What needs to change to keep Canada competitive on the fintech world stage
  • What the Bank Act is and the challenges it poses in light of the frequency of review
  • Why banks need a separate set of rules compared to other businesses


Key Takeaways:

  • Be curious.
  • Listen and collaborate with people.
  • Let your passion and enthusiasm shine through.
  • Fintechs are enablers that can help facilitate the banking experience.


Resources Mentioned:


Connect with Neil Parmenter:

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