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Regulators fiddle while investors burn over fund fees at discount brokers + MORE Mar 3rd
Adviser commissions are still charged on many mutual funds despite 2017 report that found them unwarranted
.... More »
Are your financial documents being forged? CBC's Marketplace consumer cheat sheet + MORE Jun 4th
Miss something this week? Here's the consumer news you need to know..... More »
The best GIC rates in Canada for 2026 + MORE Feb 9th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
Can you lose all your money in a TFSA? + MORE Feb 3rd
Q: I never thought of the TFSA as an investment, because I use my RRSP to invest. I use my TFSA as a savings account but does that mean the money isn’t protected? Could I lose all that money?
—Maria Vasilescu, Kitchener, Ont.
A: If you hold cash or GICs in your Tax-Free Savings Account (TFSA),.... More »
Iraq's Sadr may extend sit-in to demand reforms - Al-Arabiya + MORE Mar 26th
Al-ArabiyaIraq's Sadr may extend sit-in to demand reformsAl-ArabiyaSupporters of prominent Iraqi Shi'ite cleric Moqtada al-Sadr shout slogans during a protest against government corruption, in the streets outside Baghdad's heavily fortified Green Zone in Iraq March 25, 2016. (Reuters).... More »
Stick with one advisor
– moneysense.ca
Q: One investment firm currently manages all of our investments.This includes RRSPs, TFSAs and non-registered accounts. As our portfolio grows should we split our life savings across more than one management firm?—Elaine Jin, Toronto
A: Are you happy where you are? Are you getting the investment performance and service you want? If yes, you should keep all your money in one place. Sure, you want to mitigate risk by diversifying. But do that across different asset classes not investment firms. Having one great advisor, who understands your complete financial picture, means a better managed portfolio, in terms of risk and minimized taxes. And the larger your combined accounts, the more you should be able to negotiate lower fees (assuming you’re with a fee-based firm). All that said, if you answered no to my initial question and aren’t 100% satisfied with your current firm, go interview a few others and see what they can offer in terms of fees and additional services like tax preparation and estate planning…
Biotech in India: the promise of disease-resistant bed sheets, and more
– theglobeandmail.com
The country’s investment in biotechnology startups is encouraging ground-breaking research
Mortgage rates are rising
– moneysense.ca
Mortgage rates have been so low, for so long, that it almost feels like they’ll never rise. Even the Bank of Canada’s latest decision to keep overnight target rates at 0.5% is the equivalent of saying: We’re keeping with the status quo.
But according to media reports banks have quietly increased their own prime lending rate by 0.5%, thereby reducing the discount for new variable-rate mortgages amounts.
“It’s a bit overstated,” says RateSpy.com founder and independent mortgage broker, Robert McLister, but the fact remains: lenders have tightened the discount new borrowers can expect on variable-rate mortgages.
The most competitive lenders—typically those that work with independent mortgage brokers and specialize in mortgage lending—raised their rates by 0.15% to 0.25%, while some major banks increased their variable rates by as much as 0.25%.
How does that translate if you’re currently shopping for a mortgage? It means you can no longer find a 2.39% five-year variable rates, says Jake Abramowicz, an independent mortgage broker…
But according to media reports banks have quietly increased their own prime lending rate by 0.5%, thereby reducing the discount for new variable-rate mortgages amounts.
“It’s a bit overstated,” says RateSpy.com founder and independent mortgage broker, Robert McLister, but the fact remains: lenders have tightened the discount new borrowers can expect on variable-rate mortgages.
The most competitive lenders—typically those that work with independent mortgage brokers and specialize in mortgage lending—raised their rates by 0.15% to 0.25%, while some major banks increased their variable rates by as much as 0.25%.
How does that translate if you’re currently shopping for a mortgage? It means you can no longer find a 2.39% five-year variable rates, says Jake Abramowicz, an independent mortgage broker…
Before the Bell: Equities rise, U.S. stocks set to outperform
– theglobeandmail.com
Jennifer Dowty, Chartered Financial Analyst, looks ahead to the market trading day
Carrick best reads: The world’s worst career advice
– theglobeandmail.com
The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick
