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

Build a Conservative Retirement Portfolio to Ensure a Safer Future

Build a Conservative Retirement Portfolio to Ensure a Safer Future

Invest in high-quality stocks and diversify to develop a conservative retirement portfolio to rely on during your golden years
There are good reasons to stay out of the stock market, but approaching retirement isn’t one of them, especially if you have built a conservative retirement portfolio… Read More

Trading with a discount broker could actually cost you money

Trading with a discount broker could actually cost you money

In 2019, trading online through a discount broker, rather than with a full-service broker, has become the preferred option for many investors. But risks remain.
The main advantage of switching to a discount broker is lower commissions. And commission rates can be even cheaper if you… Read More

How Many Stocks Should I Own?

How Many Stocks Should I Own?

“How many stocks should I own?” This is one of our most commonly asked questions from new and experienced investors. Here’s the answer.

One question that Inner Circle members often ask is, “How many stocks should I own in my investment portfolio?” The right number… Read More

Hidden risks of prepaid funerals

Hidden risks of prepaid funerals

Prepaid funerals may seem like a great deal for older investors, but you need to know about the hidden risks
For example, a member of Inner Circle recently asked whether there is any advantage to spending money on prepaid funerals. So you can get a sense of… Read More

This stock aims for big gains turning seawater into fresh water

This stock aims for big gains turning seawater into fresh water

Consolidated Water has expanded into Asia with plants to convert seawater into fresh water
Pat McKeough responds to many personal questions about specific stock advice and other investment topics from the members of his Inner Circle. This time he examines Consolidated Water and its operations that… Read More