Wealth Management

Wealth management is the practice of putting your savings to work so that it continues to grow over your lifetime and will also benefit your heirs. Wealth management encompasses many different areas of investing like long term investment planning and retirement planning.

If you’re new to investing, a good place to start managing your wealth is to consult your tax preparer or accountant. They may be able to provide you with financial planning services. They may also be able to refer you to somebody who can.

There are three types of professional wealth management services you can use.

  1. A full service stock broker – A good stock broker is one who understands investing and who has the integrity to settle conflicts of interest in the client’s favour. Good stock brokers can provide an effective and economical way to manage your investments. But if you are going to use a full-service broker, take the time to find a broker you can trust.
  2. A discount stock broker – A discount stock broker will simply carry out buy and sell orders for their clients, and charge lower commission rates than full-service brokers. You pay even lower commissions if you trade stocks online, instead of placing orders over the phone.
  3. Portfolio managers – A portfolio manager is someone who fully manages your wealth portfolio and has a fiduciary responsibility to make sound investment decisions on your behalf. Portfolio managers are more stringently regulated than full-service or discount brokers.

Get the answers you need when you read this FREE Special Report, Wealth Management & Retirement Planning: Canada RRSP Contribution Limit, RRSP Interest Rates, TFSA Contribution Limit and More.

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Wealth Management Post Archives

12 Pro Investment Rules to Increase Your Wealth

12 Pro Investment Rules to Increase Your Wealth

Some investment rules of thumb will help your portfolio, but others will cost you money. Here’s how to tell the difference.
You can find all sorts of investment rules of thumb that tell you when to buy or sell. Most are based on chart-reading or technical… Read More

Trimark Investments

One challenge with researching investments over time is that companies sometimes change names as they grow and mature. As you search through our archives, one such example of this you will find is Trimark investments.

Long known as Trimark Investments or AIM Trimark, the company changed… Read More

RRSP meltdown strategies could jeopardize your retirement

RRSP meltdown strategies could jeopardize your retirement

RRSP meltdown strategies promise to ease your tax burden on withdrawals, but these complicated manouvres are usually more lucrative for brokers than for investors
Investors sometimes ask us what we think of the so-called RRSP meltdown. This is a strategy that would let them make withdrawals… Read More

New stock issues: Look for spinoffs over IPOs

New stock issues: Look for spinoffs over IPOs

New stock issues can be in the form of a spinoff or an IPO. One option is a much better investment than the other
We can say without reservation that, in investing, spinoffs are the closest thing you can find to a sure thing. It all… Read More