With an indexed defined benefit pension, does Benjamin still need to contribute to a TFSA or RRSP?

Special to the The Globe and Mail – By Dianne Maley

A few years back, Benjamin made …

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Macdonald, Shymko & Company Ltd. (MSC), and arguably Fee Only financial planning itself, originated in Vancouver when a couple of masters of business administration graduates identified a need for comprehensive, objective personal financial advice for individuals.



Independent Fee Only financial planning was born in May 1972 when Doug Macdonald and David Shymko determined that Canadians needed comprehensive, unbiased financial advice to supplement their investment, insurance and other financial activities.  Opting not to sell products, Doug and David suggested that people would pay for financial expertise and counseling.  “Something for nothing is worth nothing,” Doug reasoned.

Our principals leverage over 300 years of combined professional experience.  Here are some key highlights in the history of MSC:

  • Founded in May 1972 by Doug Macdonald and David Shymko.
  • In 1973, four HP80 calculators were purchased for approximately $2,500, which was a major purchase at that time.
  • Larry Jacobson became a principal in 1975.
  • Early in 1984, MSC’s principals undertook what turned out to be a significant involvement and leadership role in the Canadian Association of Financial Planners (CAFP).  Dedicated to raising the standards of the financial planning profession, Macdonald, Shymko & Company Ltd. implemented the requirement that all its planners and advisors earn the professional designation R.F.P. (Registered Financial Planner) – the hallmark of the Professional Financial Planner in Canada.
  • Doug Macdonald joined NAPFA (National Association of Personal Financial Advisors – U.S. Fee Only Association) in 1990 (NAPFA Article – Bridget McCrae. August 2000).
  • Registered as ‘Investment Counsel’ through the B.C. Securities Commission in 1995.
  • In 1997, MSC celebrated its 25th anniversary by launching the MSC Foundation.  It was felt that through the work of the MSC Foundation, the Company could give something back to the community, which had supported its growth and development over the years.
  • Gina Macdonald, Ian Black and Brinsley Saleken became principals of MSC in 2000.
  • MSC continued its leadership involvement in 2003 with the newly formed Institute of Advanced Financial Planners (IAFP).
  • In 2006, Doug Macdonald was awarded the Advisor’s Edge Career Achievement Award; this esteemed award was created to provide peer and professional recognition to an individual whose leadership helped build the financial services industry in Canada and assisted its professionals with skill and ethical development for the protection of consumers.  The ‘Godfather’ of financial planning was profiled in Advisor’s Edge by Deanne Gage in her article, “Advice by the Hour”.
  • Keith Copping became a principal of MSC in 2009.
  • Hamish Macdonald became a principal of MSC in 2012.
  • Ngoc Day became a principal of MSC in 2013.

Since 1972, MSC has grown to include several advisors, planners and a strong support team.  And, of course, modern computers have replaced the HP80 calculators we once thought so powerful.

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