CRM2 mandates a performance report showing the overall Internal Rate of Return of a portfolio. This requirement had several CFPs requesting a more detailed report to show their clients: The performance of an individual portfolio may be lackluster in spite of the skill of the portfolio advisor. As many CFPs manage multiple portfolios for their clients (e.g. A TFSA and RRSP), the true overall performance of can only be analyzed on a client's cumulative portfolio, while performance data may only be readily available for an individual plan. The overall performance of the portfolio may seem mediocre compared to the commonly expected 6.8% annualized return (Stocks for the Long Run, Jeremy J Siegel), but the performance may be impressive when compared to the actual return of a comparable portfolio involving the same cash flows over the same period. The returns from a portfolio may seem unimpressive right after a severe downturn, but the portfolio itself may be well constructed in spite of cyclical economic effects.