The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
Latest News
Still discouraged about retirement + MORE Jan 18th
Learn, save, invest and prosper by subscribing to My Own Advisor.
Some time ago, MoneySense Magazine chatted with actuary and pension guru Malcolm Hamilton about retirement.
In the article Hamilton stated the following:
“I was cautious and now have more than I need. I have no good use for the mone.... More »
Is Canada in a recession? Jun 17th
In a recent survey by BMO, 74% of respondents said they were concerned about a recession in 2025, up from 60% a month earlier. Understanding how a recession might affect you financially can reduce the worry and help you make informed financial decisions.
What is a recession?
The most com.... More »
40 days - 2.75% + MORE Jan 25th
This GIC rate is offered by DUCA Financial Services and was updated on 0000-00-00. Click on the link above to get more details or apply online..... More »
Is 25 too young to save? Not if you want to retire on time: experts + MORE Jan 2nd
TORONTO – When 20-somethings look ahead to the new year, saving for retirement is unlikely to top their list of financial worries.
But a new survey suggests that’s exactly where it should be, given that 70 per cent of people polled thought they could only afford to retire if they started.... More »
Range Resources boosts natural gas assets with Memorial Resource buy + MORE May 16th
Deal for $3.3-billion, excluding debt of $1.1-billion
.... More »
Canada’s millionaires
– moneysense.ca
Two-thirds of Canada’s millionaire’s are self-made compared to just 20% who are wealthy thanks to an inheritance, according to a BMO report. The bank characterizes millionaires as those with $1 million or more in investable assets. Nearly half (48%) of all millionaires are either immigrants or first-generation Canadians. Also noteworthy is that women now make up a one-third of the country’s rich, up from 21% in 2010. “Today’s women are controlling more and more wealth in Canada, and that number is increasing by eight percentage points annually,” said BMO’s Alex Dousmanis-Curtis in a release Thursday. “From a private banking perspective, it’s clear that the face of wealth in Canada is changing and there is no longer one stereotypical type of high-net worth client. The study also found that the vast majority (80%) of millionaires have a university degree.
Toronto’s condo market appears imbalanced, the Bank of Canada said in a report published Thursday…
Toronto’s condo market appears imbalanced, the Bank of Canada said in a report published Thursday…
Manulife looks to Indonesia to meet profit targets
– theglobeandmail.com
Insurer hopes to ride the wealth accumulation boom in populous country
Stewart: Financial truths my father told me
– canoe.ca
As part of my research, I have had the privilege of hearing some of the messages that accomplished women received from their dads when they were growing up. This advice helped to build their financial confidence. In honour of Father’s Day, I’ll share some of their wisdom.
TSX rallies on news of Safeway deal
– canoe.ca
Canada’s main stock index rebounded on Thursday after days of weakness as worries about central bank stimulus were offset by a jump in Empire Co Ltd , which is buying Safeway Inc’s Canadian assets for $5.7 billion.
It’s time to ban adviser commissions
– moneysense.ca
Should financial advisers be banned from collecting commissions on mutual funds? That’s been hotly debated for years, and in December the Canadian Securities Administrators (CSA) issued a discussion paper that considered the idea of imposing such a ban. Australia already did so in 2012, and the U.K. followed suit this January. But if it ever comes to pass in Canada, it would happen despite a strong lobby by Advocis, the Financial Advisors Association of Canada. And that’s a shame.
This week the chair of Advocis sent an email to advisers that started like this:
Every day your clients rely on you to help them achieve their financial goals. If you’re like me you depend on commissions to make your advice possible. How would you survive if there were no commissions? As strange as it may seem, that is the intent behind the recent consultations by the CSA regarding fees — including a ban on embedded commissions.
While this is currently limited to mutual fund trailers and DSC fees, there is no structural difference with life insurance commissions…
This week the chair of Advocis sent an email to advisers that started like this:
Every day your clients rely on you to help them achieve their financial goals. If you’re like me you depend on commissions to make your advice possible. How would you survive if there were no commissions? As strange as it may seem, that is the intent behind the recent consultations by the CSA regarding fees — including a ban on embedded commissions.
While this is currently limited to mutual fund trailers and DSC fees, there is no structural difference with life insurance commissions…
