Editor’s note: who wants to be a billionaire?

Okey Chigbo, Editor of CPA Magazine, introduces the features in the August 2016 issue.

Or rather, who wants to know how to invest like one? In our profile/how-to-invest-like-the-rich primer for this issue, billionaire Michael Lee-Chin talks about how to amass wealth in this post-Great Recession economy.

For those who don’t know, or might not remember, Lee-Chin is a Jamaican-Canadian who immigrated to Canada in 1970 without a penny, and, in what has to be considered one of the most remarkable indigent-immigrant-to-riches stories, made well over a billion bucks in 30 years. Until 2009, when he sold Canadian wealth management and mutual fund business AIC Ltd. (originally Advantage Investment Council) to Manulife Financial, Lee-Chin was known for buying and developing AIC from a company with holdings worth $800,000 to one worth more than $6 billion.

In “The Secrets to His Success,” writer Kelley Keehn tells us that at 26 Lee-Chin “found his passion” of serving clients when he began selling mutual funds after graduating in engineering from McMaster University. Overcoming his fears, he approached people on their front lawns and despite his strong Jamaican accent got appointments with five of the first six people he spoke to. Clearly he was born to the task. “Lee-Chin spent many years as a rock star in the financial industry, not only to his clients and the media, but to the financial advisers who sold his fund,” writes Keehn.

However, as the tech sector grew, Lee-Chin’s fans fell away. But he remains one of the wealthiest Canadians, owning assets around the Americas. And what is his investment advice? You’ll have to read the story to find out.

The incredible growth of technology and its impact on our lives — big data, all sorts of automation in various areas and professions — has become so ho-hum that some people today just skip on to the next media story. We are no longer wowed by it or frightened by the amazing pace of change. But how would readers feel if automation was directly affecting the accounting profession? Are we on the cusp of an age where machines will do most accounting work? In “I Robot, CPA,” writer Yan Barcelo looks into the extent to which automation has penetrated accounting. This is an age in which software programs have been devised to mimic the way the human brain works. Are we about to see robot accountants? The answer will surprise you.

In June, your magazine performed extremely well at the Canadian Business Media Awards, coming in second with three golds, three silvers and 19 honourable mentions. This achievement testifies to the considerable effort and skill the staff brings to serving your needs. Congratulations to everyone.

About the Author

Okey Chigbo


Okey Chigbo is editor-in-chief of CPA Magazine.

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