Kevin Greenard, CPA CA FMA CFP CIM, is a portfolio manager and director of wealth management with the Greenard Group at Scotia Wealth Management in Victoria. His column appears every week in the Times Colonist.
When we first meet with potential clients, we will typically have four meetings in the first month. These meetings are done to gather information, share information, open accounts, and complete any. . .
In my introductory accounting textbooks, it talks about how a corporation can not die. It also mentions that all corporations have one or more voting shareholders. The voting shareholder(s) appoint. . .
Corporations have a notional account that is referred to as the Refundable Dividend Tax On Hand (RDTOH) — in fact, as of 2019 corporations have two of these notional accounts. The purpose of this . . .
When a corporation is set up for an active business, it is typically referred to as an operating company. Once our clients have retired from the active business, the operating company is often sold. . .
Taxation for corporations is different from taxation for individuals. Our corporate clients can take advantage of many things: tax deferral, income splitting possibilities, tax-efficient dividend . . .
The levels of retirement that we see correspond directly to the performance of the stock market. When returns exceed projections in a financial plan, many people speed up their plans for retirement. . .
Concentration within a portfolio refers to an individual equity, sector, currency, geographical area, etc. being overweight in the portfolio. Avoiding concentration is important to reduce overall . . .
A managed account is a broad term that has been used in the financial services industry to describe a certain type of investment account where a Portfolio Manager has the discretion to make changes. . .
It goes without saying that we are all at risk in this electronic age of being exposed to financial fraud. Some people more so than others. In some situations, financial fraud starts by unknowingly. . .
The Canadian Radio-television and Telecommunications Commission or CRTC has the authority to administer the Telecommunications Act, including the National Do Not Call List (DNCL) and Canada’s . . .
Financial freedom is either having the capital available or access to it when needed. Keeping a solid understanding of all the forms of debt you have is key to knowing your purchasing power. With . . .
When people think of providing for their retirement, they think of the various types of income they will receive (Canada Pension Plan (CPP), Old Age Security (OAS), pensions, investment income, etc. . .
In the majority of cases, when individuals make a Registered Retirement Savings Plan (RRSP) contribution, they intend to deduct those contributions on their tax return. When we take on new clients,. . .
Last week we took a mathematical approach to looking at Registered Retirement Savings Plan (RRSP) contributions. Although this quantitative analysis provides a useful starting point, we feel that . . .
In January and February of every year we have clients that are making a last-minute Registered Retirement Savings Plan (RRSP) contribution to be applied against the previous taxation year. Clients . . .
All of our clients have chosen to maintain their assets in a managed account where investment management fees are charged to the account. There is no annual administrative fee, and no commissions . . .
The Tax Free Savings Account (TFSA) was introduced in 2009. After 11 years of steady contributions, these accounts have become very meaningful. Many Canadians have fully embraced the benefits that . . .
Throughout every calendar year, there are set financial tasks and tax due dates that are important to remember. Below, we have compiled a calendar of the key dates that you need to know as the New . . .
Prior to our clients turning 65, we have a discussion with them about both the age amount and the pension income amount which are both federal non-refundable tax credits. For new clients that are . . .
Managed and fee-based accounts continue to grow in popularity. In fact, they are the fastest-growing wealth management option amongst most Canadians. During our many conversations with most people,. . .
Nearly every financial textbook says that the No. 1 decision investors have to make that impacts investment returns is asset allocation. Asset allocation, or asset mix, as it is often referred to, . . .
Nearly every Canadian relies on both Canada Pension Plan (CPP) and Old Age Security (OAS) benefits in retirement. There are some distinct differences between both the CPP and OAS. With every client. . .
Often one of the most frequently asked financial planning questions relates to when to collect Canada Pension Plan (CPP). The earliest you can collect retirement CPP is age 60, and the latest age . . .
Registered Education Savings Plans (RESP) are still relatively new. Originally started in 1998, they were slow to gain traction because of some of the unreasonable rules on the account application.. . .
Many people are used to paying their household bills on a monthly basis. It is a routine that keeps the lights and power on. When it comes to saving and investing, most individuals have a different. . .
Every day our team fields phone calls and emails from clients asking how they can put money into their investment account. The inquiry is from the mindset of what is the most efficient way to make . . .
Much of the historical information we need regarding our clients’ tax situation and federal programs is available in electronic form. We encourage our clients to create two online accounts: a “My . . .
The first time I wrote an article specifically about cash was on October 1, 2008, and it was called Cash Can Be a Safe Harbour. It was a timely article as the equity markets took one of the largest. . .
Prior to March 2020, approximately 30 per cent of the meetings we held were done remotely. The remaining 70 per cent were done in person. As a portfolio manager we have always had the ability to do. . .
Throughout our working lives we can reduce our annual tax bill by making RRSP contributions. Withdrawals from registered accounts are generally considered taxable income in the year the withdrawals. . .
Asset allocation is the percentage an investor has in cash, fixed income, and equities. Many finance books talk about the percentage that you choose to have in each of these categories as being the. . .
The investment world has some commonly used sayings, including: “Don’t catch a falling knife.” Essentially this is referring to the danger in trying to purchase stocks as they are declining sharply. . .
There has never been a market correction that has not recovered. Of course, this time could be different — but something tells me it isn’t. Market corrections are part of the natural cycle of the . . .
The statistics for second marriages succeeding are even worse than for first marriages. As a portfolio manager, my personal advice is based on many years of helping clients, and nothing I read in a textbook
This article assumes that couples whose relationship has already either come to a written agreement on financial matters or, if they could not come to an agreement, have obtained an order from either the Supreme Court or Provincial Court of B.C. Both the Provincial Court and the Supreme Court can make orders about child and spousal support. Only the Supreme Court can make orders about property division and divorce.
Last week, we talked about the importance of hiring a good lawyer when planning to end a marriage. In conjunction with meeting with a lawyer, I recommend mapping out your tentative plans immediately following separation. You should plan for about three to six months living expenses post separation. These funds should be in an individual bank account that you know you will be able to access and pay the necessary bills.
Periodically we get phone calls inquiring about our services. One of the first things we talk about is the importance of matching both the approach to investing and the style of investing. If you . . .
Many of us are fortunate enough to be in a position to give back to society. Many individuals choose to demonstrate their philanthropic support through monetary contributions while others choose to. . .
As we near the end of 2019 it is always a good idea to reflect on the past. We have rounded up some of our past articles to help make sure you have completed all the financial transactions that you. . .
As we enter the last quarter of 2019 it is time to look at whether tax-loss selling makes sense for your portfolio. During a positive year, several rebalancing trades may have occurred resulting in. . .