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Latest News
Hurricane Gonzalo could land in Newfoundland early Sunday Oct 19th
ST. JOHN’S, N.L. – The Canadian Hurricane Centre is warning that Gonzalo could still be hurricane strength by the time it reaches southeastern Newfoundland early Sunday.
Meteorologist Bob Robichaud said there is about a 30 per cent chance of the storm making landfall on the southern Aval.... More »
It’s Never Too Early to Think about Holiday Shopping Sep 23rd
While it may seem a bit early – especially if you’re still basking in the neverending summer heat in Southern Ontario – now is the time that retailers really start thinking about the holidays.
Whether looking at November’s Cyber Monday or the big Christmas push, smart merchants .... More »
Stocks set to advance on Fed reassurances, traders look to solid run of bank earnings Aug 24th
TORONTO – Stock markets look set to gain ground this week after traders got some reassurance from the Federal Reserve last week on interest rates.
The Toronto market could find some lift from the financial sector after Royal Bank (TSX:RY) on Friday kicked off the quarterly earnings season for .... More »
Free to Use, Free to Choose: Review of the Tangerine Money-Back Credit Card Mar 30th
There’s a new cash back contender in Canada’s credit card market, and it’s bringing a new level of choice to consumers. Tangerine’s Money-Back Credit Card has officially launched after a successful trial run, and it has created quite a buzz for its unique and flexible rewards structure.
Th.... More »
Apple Pay should have little impact on Canadian bank earnings, analyst says + MORE Jul 9th
Lenders would only see small profit cut when Apple’s mobile payment service launches in Canada. The bigger worry for banks is if firms like Apple and Google, with its Android Pay, use this technology as a stepping stone to advance into other financial services
.... More »
Poor financial advice is everywhere
– moneysense.ca
“That’s one of the worst pieces of advice I’ve ever heard in my life,” MoneySense contributor, financial analyst and former adviser Preet Banerjee told CBC Marketplace co-host Erica Johnson after viewing hidden camera footage of a big bank financial adviser telling an undercover customer that her $50,000 initial investment could grow $10,000, even $20,000, a year if conservatively invested.
In its recent investigative report, entitled “Show Me The Money,” CBC Marketplace found a wide range in the quality of advisers working at major banks and financial institutions. Some proved to be knowledgeable and prudent while others were unable to explain fees on popular products such as mutual funds. Some did not perform basic risk-assessments or ask the “client” about their debt levels.
A good financial adviser can help get, and keep, you on the right track but a bad one can steer you wrong completely. The reality is “financial adviser” is not a protected term and professionals are not required to be licensed to dole out advice so it’s up to you, the consumer, to understand the certifications out there and how fees are structured…
In its recent investigative report, entitled “Show Me The Money,” CBC Marketplace found a wide range in the quality of advisers working at major banks and financial institutions. Some proved to be knowledgeable and prudent while others were unable to explain fees on popular products such as mutual funds. Some did not perform basic risk-assessments or ask the “client” about their debt levels.
A good financial adviser can help get, and keep, you on the right track but a bad one can steer you wrong completely. The reality is “financial adviser” is not a protected term and professionals are not required to be licensed to dole out advice so it’s up to you, the consumer, to understand the certifications out there and how fees are structured…
