#33 — John Y. Campbell: Why the Financial System is Broken and How to Fix It
Our guest this week is John Y. Campbell — a globally respected Harvard economist and one of the most influential voices in academic financial economics. Over his career, John has published more than 100 academic papers spanning fixed-income markets, equity valuation, portfolio theory and household finance.
John’s newest book, “Fixed: Why Personal Finance Is Broken and How to Make It Work for Everyone,” makes a compelling case that the financial system — while vital — is failing ordinary people. Between unnecessary complexity, steep fees, confusing products and poor incentives, most households are left navigating a system that isn’t built with their best interests in mind. John draws on decades of research to explain what’s gone wrong and how better product design, smarter regulation and clearer advice could dramatically improve financial outcomes.
In this episode, Dave and John explore how the system can be fixed — from mandatory universal retirement accounts to simpler, standardized financial products, to improving disclosures on credit cards. They also discuss the pitfalls of active mutual funds, the challenges of financial advice models, the role of technology in impulse spending and the rise of gambling and meme-stock behaviour. It’s a wide-ranging and accessible conversation with one of the world’s top financial thinkers.
If you care about personal finance, financial policy or simply understanding why the system feels so confusing this episode is a must-listen.
Show Notes
(00:00) Intro & Disclaimer
(00:55) Intro to John Campbell and His Book “Fixed”
(05:14) How Should the Financial Industry be Fixed?
(09:30) Mandatory Universal Retirement Accounts
(12:52) Active Mutual Funds Have Costly Fees
(15:48) The Different Models for Financial Advice
(18:37) How Standardized Financial Products Could Help
(21:07) Life Insurance and Complexity
(24:57) Two Thoughts on Debt
(26:21) Technology and Impulse Spending
(29:24) Gambling & Meme Stocks
(31:19) Policy Ideas to Fix the Financial System
(36:21) How Disclosures on Credit Cards Could Be Improved
(38:33) Conclusion
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#32 — Leanne Kaufman: The Do’s and Don’ts of Estate Planning
Episode #32 is out now! Our guest this episode is Leanne Kaufman — President and CEO of RBC Royal Trust, the division of RBC that helps Canadians with estate, trust and incapacity planning/professional administration. Leanne is a lawyer by training and is extremely knowledgeable about all things estate planning in Canada.
In this conversation, Dave and Leanne dive deep into the fundamentals of estate planning — why every Canadian needs a will, the real cost of getting one and what qualities make for an ideal executor. They explore tricky questions like whether you should choose a family member as your executor, if co-executors are ever a good idea and why keeping a “When I Die” binder can spare your loved ones a world of stress.
From corporate executors to cottages (and the conflict they often create) to the risks of joint ownership and the scenarios where trusts actually make sense, this episode covers the most common estate-planning pitfalls Canadians face—and how to avoid them.
Whether you’re creating your first will or updating your entire estate plan, this episode is packed with practical advice, clear explanations and guidance every Canadian should hear.
Show Notes
(00:00) Intro & Disclaimer
(00:55) Intro to Leanne Kaufman
(02:34) Why Everyone Needs a Will
(05:01) How Much Does it Cost to Get a Will?
(07:29) What Qualities Does an Ideal Executor Have?
(13:28) Should You Choose a Family Member as Your Executor?
(15:46) Co-Executors: Yay or Nay?
(18:06) The Importance of a “When I Die” Binder
(20:33) Should You Keep Old Wills?
(22:05) What is a Power of Attorney?
(26:52) Why Dave Doesn’t Like Co-Powers of Attorney for Personal Care
(28:39) When Do POAs Take Effect?
(30:56) Name Alternate Executors & POAs
(32:41) How to Make Sure Your POA Will Be Accepted
(34:46) Corporate Executors
(40:50) Cottages and Family Conflict
(44:26) Use Cases for Trusts
(47:28) The Dangers of Joint Ownership in Estate Planning
(50:39) Estate Planning is a Holistic Exercise
(54:00) Conclusion
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#31 — Andrew Hallam: “Millionaire Teacher” and Finding Balance
Our guest this episode is Andrew Hallam—bestselling author of “Millionaire Teacher,” “Millionaire Expat” and “Balance.”
Andrew’s journey into personal finance started in an unlikely place: at 19 years old, he met a millionaire mechanic who taught him that building wealth isn’t about earning a high salary — it’s about making your money work harder than you do. Since then, Andrew has become one of the most respected voices in financial literacy, known for his practical and globally minded approach to investing and life.
In this conversation, Dave and Andrew discuss everything from the timeless principles of index investing and global diversification to the rise of robo-advisors and the pros and cons of real estate investing. Andrew also opens up about his nomadic lifestyle and shares lessons from his book Balance — on finding happiness, health, and purpose beyond the pursuit of money.
It’s an inspiring and insightful episode for anyone looking to build wealth and a better life.
Show Notes
(00:00) Intro & Disclaimer
(00:55) Intro to Andrew Hallam
(01:30) How Andrew First Learned About Finance
(03:13) How a Teacher Became a Bestselling Personal-Finance Author
(11:59) How one Key Review Led to Massive Sales
(15:16) Does the Millionaire Teacher Still Believe in Index Investing?
(17:57) All-in-One Asset-Allocation ETFs
(19:27) Chasing Active Outperformance
(23:27) Robo-Advisors vs. Asset-Allocation ETFs
(25:48) The Importance of Global Diversification
(29:29) Real Estate Investing
(32:23) Andrew’s Nomadic Lifestyle
(36:26) Finding Balance in Life
(42:17) What Changes Are Needed to The Financial Industry?
(47:28) Conclusion
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#30 — Preet Banerjee Interviews Dave: The Incredible Story Behind "The Wealthy Barber" and Its Update
SPECIAL EPISODE: To commemorate the launch of the fully updated “The Wealthy Barber,” we’re doing a very special episode this week where Dave is the guest on his own podcast!
We brought back fan favourite and financial-educator extraordinaire, Preet Banerjee, to host the conversation and turn the tables on Dave. Together, they dive into the stories behind “The Wealthy Barber” — from why Dave first wrote the book and how it was tested, to his early days shipping copies with his mom and the moment he realized his life was about to change forever.
They also touch on his time on “Dragons’ Den,” the pressure (and fun) of updating the book for a new generation, the behind-the-scenes team that helped make it happen, and even a few lighter topics — like Dave’s love of A&W, black nibs and eating every meal out.
It’s a funny, nostalgic and inspiring look at one of Canada’s most beloved financial voices and the incredible journey behind one of the bestselling books in Canadian history.
Show Notes
(00:00) Intro & Disclaimer
(00:55) A Special Episode
(03:23) Why Dave Wrote the Original “The Wealthy Barber”
(06:11) How Important Testing is For Dave’s Books
(10:32) Dave’s Goal Was to Sell 10,000 Copies
(12:31) Dave’s Life in 1989
(14:15) Dave and His Mom Fulfilled Orders at First
(17:49) When Dave Realized His Life Was Going to Change Forever
(20:52) Becoming a Reluctant Publishing Consultant
(24:16) Dragons’ Den
(30:16) The Pressure of Updating “The Wealthy Barber”
(33:19) Preet’s Review of the New Book
(35:57) The Team Behind The Wealthy Barber Podcast and Socials
(39:30) Who is The Wealthy Barber’s Barber?
(40:25) Benefitting From Having Kids in the Book’s Target Market
(41:38) Dave Eats Every Meal Out
(45:36) Dave’s Love of A&W and Black Nibs
(47:11) A Day in the Life of The Wealthy Barber
(48:27) Who is the Updated “The Wealthy Barber” For?
(51:55) Conclusion
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#29 — Jason Pereira: The Evolution of Financial Advice in Canada
Our guest this episode is Jason Pereira — Senior Partner & Financial Planner at Woodgate Financial and one of Canada’s most prolific voices in the financial planning industry.
Jason has spent over two decades immersed in the world of financial planning — earning nine professional designations, contributing to hundreds of articles and podcasts and becoming a trusted expert on everything from practice management to fintech to insurance strategy.
In this wide-ranging conversation, Dave and Jason explore the evolution of financial advice in Canada including how it compares globally, why many Canadians still have blind trust in big institutions and what younger advisors are doing differently. They also dig into some of the thorniest financial planning topics: over- and under-insurance, capital gains at death, intergenerational wealth transfers, life insurance for children, rental real estate in 2025 and much, much more.
Jason doesn’t hold back — sharing candid insights on the gaps in Canada’s advisory landscape and how consumers can better navigate the system. Whether you’re a new investor or just someone trying to make smart decisions with your money, this episode is packed with thought-provoking ideas and practical takeaways.
Show Notes
(00:00:00) Intro & Disclaimer
(00:00:55) Intro to Jason Pereira
(00:02:13) The Different Ways to Pay for Financial Advice
(00:05:26) How Does Canada’s Financial Advisory Industry Compare to Other Parts of the World?
(00:10:52) Young Advisors Want To Do More Financial Planning
(00:12:57) Canadians Have Misguided Trust in Large Financial Institutions
(00:16:17) Jason Thinks People Are Being Sold Too Much Insurance They Don’t Need
(00:19:06) Term vs. Cash Value Insurance
(00:21:27) Using Insurance to Cover Large Capital Gains Taxes
(00:25:25) Passing On Cottages Can Cause Much Family Friction
(00:26:45) Corporate Executors
(00:29:37) Many Young Canadians Don’t Have Enough Life Insurance
(00:34:50) How Much Life Insurance Do You Need?
(00:41:20) Buying Life Insurance on Young Children
(00:44:54) It’s So Hard to Max Out All of Your Registered Accounts
(00:46:23) AI and Financial Planning
(00:52:59) Rental Real Estate in 2025
(00:55:32) Any Risks with the Rise of Passive Investing?
(00:58:13) Parents Are Gifting More Money
(01:00:39) When Financial Advisor Fees Are Worth It
(01:04:10) Conclusion
The Wealthy Barber Podcast is Canada’s go-to source for approachable, entertaining, and free financial education. Hosted by none other than David Chilton—former Dragon on CBC’s ”Dragons’ Den” and the best-selling author of ”The Wealthy Barber” and ”The Wealthy Barber Returns”—this podcast is here to help Canadians manage their money better. Much better.Dave Chilton has spent over 35 years demystifying personal finance, offering understandable, unbiased, and actionable advice that has empowered millions of Canadians to achieve their financial goals. Now, he’s bringing that same wisdom to your favourite podcasting platforms, with regular episodes designed to make personal finance simple, relatable, and yes, even entertaining.Episodes of The Wealthy Barber Podcast features Dave in conversation with expert guests from across the spectrum of Canadian personal finance. From investing and real estate to taxes, RESPs, and even money psychology, no topic is off-limits. Plus, don’t miss our special “Office Hours” episodes, where Dave answers real questions from audience members, delivering informed, balanced, and sometimes downright funny advice.Follow for Canadian personal finance made simple.
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