Echelon Wealth Partner Blog

Save for your retirement with tax-deferred growth through an RRSP

Wed, 15 Jan 2025 04:04:33 GMT

A Registered Retirement Savings Plan (RRSP) can help you build long-term savings faster with tax-deferred investment growth, while offering a valuable tax deduction for your contributions. Here’s a quick summary of the key features and benefits of an RRSP.

Tax Deferral

When you invest inside a non-registered account, you pay tax every year on investment income (such as interest and dividends) and capital gains (if you sell an investment that has increased in value). In contrast, when you invest inside a registered account such as an RRSP , you don’t pay any tax on your investments as long as your money remains inside the plan. The deferral of tax until withdrawal helps money inside an RRSP grow more quickly than it would in a non registered account. It’s only when you start taking money out of your RRSP that you pay tax. Withdrawals are treated as taxable income – but ideally you will wait to withdraw until you retire, at which point, your overall income, and marginal tax rate, should be lower.

Tax Deduction

The other major benefit of an RRSP is that you can deduct the contributions you make from your income to reduce your taxes. Contributions made during the past year or the first 60 days of 2024 can be applied against this year’s income when you file your taxes. Assuming a 40% marginal tax rate, every $1,000 contributed to an RRSP can save $400 in taxes. You can also choose to carry forward the tax deduction and claim it in a future year – a strategy that may make sense if for example, you expect next year’s income will be = highert han this year’s. Your money can start growing on a tax deferred basis right away, and you can time the deduction so it has the greatest impact on your taxes.

Contribution Limit

Every year you have earned income, until the end of the year you turn 71, you get additional RRSP contribution room– calculated as 18% of earned income in the previous year up to an annual limit. If you haven’t made the maximumRRSP contribution every year, you may have accumulated additional contribution room from past years, since it can be carried forward indefinitely. You can find your personal contribution limit on your latest Notice of Assessment or through the Canada Revenue Agency’s My Account website, MyCRA mobile app or the Tax Information Phone Service.

Spousal Plan

A spousal RRSP can be a useful income-splitting strategy, allowing the higher-income spouse to contribute to the lower-income spouse’s plan. The higher-income spouse gets the tax deduction, while withdrawals in retirement are taxed in the lower-income spouse’s hands. Even with current pension income-splitting rules, spousal RRSPs can be beneficial for couples planning to retire before age 65 and couples where one spouse is over age 71 and the other is not, as well as in certain other circumstances.

Home Buyers’ Plan

The Home Buyers’ Plan (HBP) allows qualifying home buyers to withdraw up to $35,000 from their RRSP to buy or build a qualifying home. The withdrawal is not taxable, but must be repaid over 15 years. Any missed repayments are taxable.

Lifelong Learning Plan

The Lifelong Learning Plan (LLP) allows full-time students to withdraw up to $10,000 in a calendar year and $20,000 in total from their RRSP to pay for education. The withdrawal is not taxable, but must be repaid over 10 years. Any missed repayments are taxable.

Registered Retirement Income Fund

When you’re ready to start withdrawing money from your RRSP, and no later than the end of the year when you turn71, you can turn your RRSP into a Registered RetirementIncome Fund (RRIF). Money continues to grow on a tax deferred basis as long as it stays in the RRIF, but you must start withdrawing a minimum (taxable) amount every year.

Comparing RRSPs to TFSAs

Save taxes and accelerate your retirement savings

March 1, 2024 is the deadline to make RRSP contributions that you can apply towards your 2024 taxable income. Please consult with a tax professional to discuss your personal tax circumstances.

Contact Justin today to find out more about how an RRSP, a TFSA or both can help you pay less in taxes and achieve your savings goals.

Disclaimers
Ventum Financial Corp. is a member or participating organization of the Canadian Investor Protection Fund (CIPF), Canadian Investment Regulatory Organization (CIRO), TSX, TSX-V, and Bourse de Montreal. Information contained herein represent the views of the writer, and not those of Ventum Financial Corp. or Ventum Financial (US) Corp. (collectively “Ventum Financial”), based on assumptions which the writer believes to be reasonable. The material contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. While the information herein cannot be guaranteed, it was obtained from sources the writer believes to be reliable, but in providing it neither the writer nor Ventum Financial assume any liability. This information is given as of the date appearing on this report, and the writer and Ventum Financial assume no obligation to update the information or advise on further developments relating to securities, products or services. This report is intended for distribution in those jurisdictions where Ventum Financial is registered as an advisor or a dealer in securities. Any distribution or dissemination of this report in any other jurisdiction is strictly prohibited.

2024 TFSA Contribution Limit is $7,000

Wed, 01 Jan 2025 03:59:10 GMT

Save for both short- and long-term goals with tax-free growth

With a Tax-Free Savings Account (TFSA), you pay no taxes on investment gains, capital gains or on withdrawals, making this type of registered plan a flexible solution. Here’s a quick summary of the key features and benefits of a TFSA.

Truly tax-free

Unlike Registered Retirement Savings Plans (RRSPs),which defer tax until you withdraw your money, TFSAs are truly tax-free. No matter how much income, dividends and capital gains your investments generate inside a TFSA, you pay no tax – not even when you withdraw. And because withdrawals are not treated as income, they have no effect on income-tested benefits, such as Old Age Security, Employment Insurance and the GST/HST tax credits.

Opportunity to re-contribute

TFSAs are crafted to assist Canadians in saving for various goals with diverse time horizons. They are structured to enable multiple withdrawals and re-contributions throughout one's life. Here's how it works: any amounts withdrawn are added back to your contribution room in the following calendar year. This flexibility allows you to re-contribute, letting your money compound tax-free once again. In contrast, withdrawing from an RRSP results in a permanent loss of that contribution room.

No upper-age limit

A TFSA has no maximum age limit, providing the flexibility to continue growing your money tax-free and making contributions throughout your retirement. This stands in contrast to an RRSP, which must be closed at the end of the year before turning 71. In such cases, it must be transferred to either an RRIF or annuity, both of which generate taxable income, or cashed out, with the full amount taxed as income for that year.

Contribution limit

While the RRSP contribution limit is tied to earned income, the TFSA contribution limit is the same for all Canadian residents over the age of 18:
• $7,000 for 2024
• $6,500 for 2023
• $6,000 for 2022, 2021, 2020 and 2019
• $5,500 for 2018, 2017 and 2016
• $10,000 for 2015
• $5,500 for 2013 and 2014

• $5,000 for 2012, 2011, 2010 and 2009

Your contribution limit accumulates whether or not you filed a tax return or opened a TFSA. So, any Canadian resident who was 18 or older in 2009 and has never contributed to a TFSA has $95,000 in contribution room available in 2024. You can find your personal contribution limit through the Canada Revenue Agency’s My Account website, MyCRA mobile app or the Tax Information Phone Service. Keep in mind that, unlike contributions to an RRSP, contributions to a TFSA are not tax-deductible.

Spousal contributions

You can simply give your spouse money to make a TFSA contribution, with no tax consequences.

Comparing RRSPs to TFSAs

Enjoy flexibility as you save for multiple goals

There is no “TFSA deadline.” You can make contributions up to your limit at any time – the sooner the better -- as you can start benefiting from tax-free compounding.

Call Justin today to find out more about how a TFSA, an RRSP or both can help you pay less in taxes and achieve your savings goals.

The TSX Venture Exchange: A Ghost Town of Trading? Exploring the Enigma of Low Volume

Sun, 29 Dec 2024 03:59:09 GMT

Over the past few weeks, I have had numerous conversations with clients and people within the industry, where the topic of discussion eventually turns to the lack of volume and general malaise of the TSX Venture Exchange. But just how poor are trading volumes (or liquidity as we call it) of late? How does the current low liquidity compare to previous periods? Might liquidity dry up even further?

In this blog post we address these questions as we delve into and explore the enigma of low volume on the TSX Venture Exchange: A Ghost Town of Trading.

Ye Olde TSX Venture Exchange

A logical place to start is by looking at the available data. Luckily for us the TSX Venture Exchange publishes trading and financing statistics on a monthly basis. This gives us the opportunity to look at the venture in aggregate and objectively. Its far too easy to look at positions within our personal portfolios as a sample and extrapolate to the rest of the market which may not be a fair representation.

We (thanks to my assistant Chris) have taken the data available from January 2009 to May 2023 and created the below graphic. A couple of immediate observations to be made and highlighted:

1) There appears to be a strong correlation between the TSX Venture Index value and $ value transacted over the month on the exchange.
2) Peaks and troughs in TSX Venture Index values are generally associated with tops & bottoms for $ values transacted

Within the above chart, blue bars represent the total $ value of transactions on the TSX Venture for the month, the red line represents the TSX Venture index value at end of month. Notice how the two tend to move in tandem. In fact, you might be able to mark near term market tops and bottoms simply by looking at the $ volume of transactions. Logically this makes sense as market tops are formed when a marginal buyer or the last bear has succumbed to the allure of the bull market and bought. Or when market euphoria has taken over. Either way how we define it, market tops are when buyers, capital invested and therefore turnover are at their greatest.

Market bottoms are quite the opposite, naturally, of market tops. At these levels, there is a lack of buyers and volumes decline precipitously. Bids (buyers) dry up and selling tends to exaggerate the declines of these typically already illiquid securities. These time periods are also marked by a general lack of interest by retail investors to allocating additional or even moving around risk capital. Sound familiar? We will touch on the more recent months and how they compare to years past. However for now lets just say my phone is not ringing off the hook.

A Broker During a Quiet Market

For reference and context lets compare the present 'quiet' market to previous. This recent decline in volumes and overall liquidity can be marked from June 2022 to now (numbers not yet available for June 2023).

The table above gives more context as to how this quiet period feels compared to previous. Of course looking at the numbers we know then liquidity on the venture exchange has been worse in the past. Much worse. For frame of reference $1 billion of value transacted over an entire month on the TSX Venture is equivalent to approximately 1 hour's worth of trading on Apple's stock. 1 hour of trading!! Suffice to say the TSX Venture is a rather illiquid exchange and therefore collection of securities.

But what about the 'good times'?

Without getting too picky and technical I am going to quantify a bull market as sustained period of increased $ volume transacted on the TSX Venture Exchange until each subsequent month adds to the average $ volume transacted & a short term trough to peak for the TSX Venture Index value. In essence, we've had two sizable bull markets since 2009 and one weak one as defined below;

The difference in $ volume transacted between 'bull' and 'bear' markets is notable. Roughly 2 to 4 times more liquidity and turnover during a bull market v bear market. Though the most interesting data points are when we start to look at the highest $ volume transacted during these two different markets. Breaking the volumes down by quartile we get;

Further breaking down the data by quartile, we get an interesting result:

All in all, 36 months out of 43 observed months (83%) for highest monthly $ volume transacted were during a bull market. There are exceptions however with some 'other months' being part of top quartile but not part of a bull market (17%). To sum, if the market is active it is likley a bull market.

What does this all mean for the TSX Venture?

To me this data and observations points to a couple of conclusions;

1) the TSX Venture is largely driven by volume and flow of capital. Capital has the ability to flow into the market quicker than new public companies can be created and so its a matter of flow (demand) vs. stock (supply)
2) the best time to be a seller is when volumes & liquidity is generous. The best time to be a buyer is when no one cares about the market. Both of course are easier said than done.

What happens going forward?

Even if history serves as a reliable indicator, though is not a guarantee of future results, no one really knows. There is a real possibility liquidity does not improve over the summer (it's summer doldrums as we like to call it) in fact may worsen July & August. Historically we do see a pick up in activity come the fall and before Christmas holidays. However we could also see a sustain lulled in activity for some time barring two variables 1) a meaningful improvement in commodity prices (plausible) or 2) meaningful improvement of investor sentiment & return of risk capital (im not so sure).

Either way we know we have seen this type of market in the past and seen the pendulum swing the other way eventually. But for now, this is the market which we are invested in.

Benefits to Investing Through & Contributing to an RRSP

Sun, 15 Dec 2024 03:32:53 GMT

Benefits to Investing Through & Contributing to an RRSP

I wanted to take a moment to explain the benefits of investing through an RRSP (Registered Retirement Savings Plan).

An RRSP is a government-registered savings plan that allows you to save for your retirement in a tax-efficient way. Contributions made to an RRSP are tax-deductible, which means that they can be used to reduce your taxable income for the year in which they are made. This can result in a lower tax bill for the current year and more money to invest for your future.

Investing through an RRSP also allows your money to grow tax-free until you withdraw it at retirement. This means that any capital gains, dividends, or interest earned on your investments will not be subject to taxes until you take the money out.

Additionally, RRSPs offer a variety of investment options, including stocks, bonds, mutual funds, and exchange-traded funds, allowing you to diversify your portfolio and potentially earn higher returns on your investment.

In summary, investing through an RRSP can help you save for your retirement in a tax-efficient way, allowing your money to grow tax-free and providing you with a variety of investment options. I recommend considering contributing to an RRSP as part of your overall financial plan.

Important RRSP Information & Deadlines

The RRSP deadline for 2022 is midnight of March 1st, 2023 . As always, late contributions cannot be accepted and cannot be backdated.

Regarding the RRSP deadline date, funds must be received by PI on March 1st to be included on the last contribution receipt for the tax year. Cheques received in the mail after March 1st cannot be backdated. Please note that sending of funds by the banking bill payment process can take up to 3 days to be received by PI. We will only be including funds as a contribution if funds are received in PI’s bank account by March 1st (even if you initiated the payment before March 1st).

Contribution Limits
The RRSP contribution limit for 2022 is $29,210 and the limit for 2023 is $30,780.

Please note however that the formula for determining an individual’s contribution limit has not changed and remains at 18% of the taxpayer’s earned income for the preceding taxation year. As such, the maximum contribution that may be made to a RRSP is the lesser of 18% of the annuitants earned income for the preceding taxation year, up to the maximum for the corresponding year indicated above.

Spousal RRSP Accounts
Please be advised that unless indicated otherwise, we assume all contributions made to a spousal RRSP account are spousal contributions.

If you wish to make a regular contribution (non-spousal) to a spousal account, you must indicate this clearly on the cheque or on the instructions that are provided to us. We cannot amend any tax slips to be a personal contribution in a Spousal RRSP if a client did not inform us that it was a personal contribution at time of deposit.

Contribution Receipts for 2022 Tax Year
Contribution receipts for tax year 2022 for all contributions made between March 2nd, 2022 - December 31st, 2022 were mailed out in mid-January.
All subsequent contributions made for tax year 2022 made between:
January 1st, 2023 – February 17th, 2023, will be mailed out end of February.
February 20th, 2023 – March 1st, 2023, will be mailed out Mid March
Any contribution received from January 01 – March 1st, 2023 will automatically be assumed as contribution for year 2022 unless otherwise specified.

Please contact me if you have any questions pertaining to RRSPs or if you would like to discuss further ( justin.hayek@ventumfinancial.com )

Exploring Alternative Assets

Sun, 01 Dec 2024 03:27:58 GMT

In an investment universe where stocks are at or near all-time highs, bond yields and interest rates near all-time lows it is becoming increasingly difficult to find investment opportunities offering a favourable risk-reward ratio or securities deemed undervalued.

However, there are asset classes outside of the traditional which exist, that perhaps offer investors better potential outcomes; a way to help improve their returns, generate more income or for diversification to help mitigate downside risk. I am referring to alternative assets.

What are alternative assets?

The term is flexible however it can be loosely defined as an asset class which does not fit under traditional asset classes of stocks, bonds, or cash. The below is a list of different types of alternative assets though not exhaustive.

private equity – pooled fund investing into private companies
private debt/credit – debt or credit not financed by banks or traded on an open market. Both public and private companies, and persons can borrow via private debt/credit
hedge funds – pooled investment fund able to make use of complex trading strategies, shorting, and possibly leverage
real estate / land– refers to all types; commercial, industrial, residential, agriculture
infrastructure – long-lasting capital assets that add value to land and tend to be part of a larger system eg: bridges, roads, airports
commodities – precious & base metals, oil, agriculture
collectibles – art, wine, vintage cars, watches, sports memorabilia
cryptocurrencies & digital assets – bitcoin, NFTs
structured products - structured products and derivatives, or securities whose value comes from an underlying asset or group of assets like stocks, bonds, or market indices.

Adoption of alternative asset classes into investment portfolios

Alternative assets are being utilized by sophisticated investors probably more than you might expect. Some of the world’s largest asset managers are turning to alternative assets to help diversify and add value to their investment portfolios. Consider the following published by Fiera Capital¹. Canada’s largest pension plans have allocated as much as 50% of their portfolios to alternative assets.

According to an RBC survey² of pension managers conducted in 2021, “Nearly 80% of respondents that [already] incorporate alternatives into their plans are looking to make increased allocations to one or more of their alternative investments in the near term—up from 72% last year”.

However, its not just the sophisticated pension fund manager who has accepted and adopted alternative assets into their portfolio mix, the retail investor has too. According to Mackenzie Investments³, alternative assets managed in Canada has seen meaningful growth over the years.

Benefits to investing in alternative assets

This of course begs the question as to why? Why have some of the most sophisticated and scrutinized investors allocated more of their investment capital to these asset classes. The answer is twofold:

enhance a portfolio’s diversification. That is to say, reduce downside risk and volatility
improve returns in a portfolio

This is also true for the retail investor who is currently invested in alternative assets. Mackenzie Investments3 is of the viewpoint that:

“The market disruption of 2008-2009, and the periods of volatility that followed, have encouraged retail investors to search for ways to limit their market risk and to identify investments that are unlikely to move in lock-step with the public markets.’’

Another reason investors are turning to alternative assets is given the low interest rate environment we find our selves in, it has become increasingly difficult to generate sufficient reliable income from traditional investments (stocks, cash, bonds and GICs).

Consider the below. Government of Canada 10 year bond yields (1995-2021). It used to be the case you could buy this bond, hold for 10 years and expect a rate of return of over 7% per annum. Today that number on the 10 year Government of Canada bond is a sad 1.25%. This has forced many of those who count on their investments to fund and carry them through their retirement years, to live with lesser means or search for alternative investments.

10 year Government of Canada Bond Yield (1995-2021)

The risks to investing in alternative assets

Alternative assets are investments. And as such, with any investment, carries risk. Each of the different types of alternative assets aforementioned has its own unique characteristics, benefits and risks. However, generally speaking the key risks within the alternative assets³:

difficulty accessing the investments
difficulty to value the investments
limited liquidity
need to adopt long term time horizon
often high initial investment
relatively high cost

Despite the above risks associated, I do believe its possible to find the right investment opportunities within the alternative asset classes fitting the objectives and risk tolerance for many investors.

However in my opinion, the primary way to mitigate risk is to have the right management team administrating and managing the asset in question. As a quality manager will have the expertise and resources required to access and value the investment opportunities. Thus eliminating one-third of the above mentioned risks.

For this reason, I have entrusted outside professionals, who are top tier in their practice, to overlook and manage alternative investments I have made personally or through our business practice.

My intention in follow up blog posts is to highlight some alternative assets I have already personally invested in along side clients. As well as highlight new investment opportunities I have discovered and sharing with clients for the first time.

References:
https://www.fieracapital.com/en/insights/alternative-facts-how-alternati... retrieved September 9, 2021
https://www.rbcits.com/en/our-insights/pathways-to-sustainability/altern... retrieved August 20, 2021
https://www.mackenzieinvestments.com/content/dam/final/corporate/mackenz... retrieved August 10, 2021

Video: Introduction to PI Financial's Discretionary Managed Portfolios

Fri, 29 Nov 2024 03:27:56 GMT

Recently we conducted a web conference to introduce PI Financial's discretionary managed accounts program (more info here ). Joining me for the web conference was the head of PI Financial's discretionary managed accounts program Bert Quattrociocchi. Bert is a Certified Portfolio Manager and has held positions in research, banking, institutional and retail sales throughout his 32 years in the investment industry. He is currently a senior portfolio manager and a member of PI Financial’s Executive Committee and Board of Directors.

Through the web conference, Bert gives an overview of each portfolio and its unique investment objective, risk profile and holdings. You might be interested in knowing, there is likely a portfolio (or two) that is suitable for you - whether you desire investment income, capital appreciation, or a combination of the two. More on this below. To give you some context and more information, below are the six model portfolios along with a short description for each.

Video: Introduction to PI Financial's Discretionary Managed Accounts Program

The Six Model Portfolios

PI Balanced - is a multi-asset class portfolio primarily consisting of money market, fixed income and equity securities in Canada and the US with the objective of balancing risk and return. This portfolio aims to provide a total return consisting of capital appreciation, dividend income and interest income. This portfolio is best suited for the more defensive long term investor seeking broad asset, country and sector diversification and moderate income.

PI High Yield Dividend Growth - is a Canadian all-equity portfolio with the objective of providing equity investors with a high dividend yield, a lower level of volatility to its benchmark, growing dividend income and moderate long-term capital appreciation. To reduce risk this portfolio invests only in the more defensive sectors, such as utilities, real estate, telecom, financials and consumer staples and only in companies which have consistently grown their dividends per share for at least the past 5 years.

PI Canadian Dividend Growth - is a Canadian all-equity concentrated portfolio consisting of between 20 to 30 large blue-chip Canadian listed companies. Each company must have a long record of consistently growing their dividend per share combined with a positive long term price trend.

PI Canadian Equity - is our core Canadian large-cap equity portfolio holding the full range of Canada’s leading blue chip companies. The portfolio’s investment objective is long term capital appreciation with moderate dividend income. This portfolio will invest from Canada largest 100 companies and only the leading companies with long term record of financial success including consistent profitability and sound balance sheet.

PI Canadian Equity PLUS - is an all-equity growth portfolio with about 70% of the portfolio invested in a broad range of individual leading Canadian companies plus approximately 30% invested in US, Global and Emerging Market ETFs. The portfolio’s investment objective is long term capital appreciation with moderate dividend income.

PI Focus 15 - is a model equity portfolio consisting of up to 15 mid to large capitalization Canadian listed companies with an investment objective of long term capital appreciation.

For more information on any of the six above managed portfolios, please view the short summary here

If you are interested in learning more about the six managed portfolios, our internal portfolio management team or how you can benefit email or call me to discuss further (604-718-7576).

Which Discretionary Managed Portfolio Is Most Suitable For You?

Fri, 15 Nov 2024 03:27:55 GMT

After last week's blog about PI Financial's discretionary managed accounts program, I had received several emails from clients asking about the 6 unique portfolios overseen by our internal portfolio management team and how they differ from one another.

As mentioned before, each portfolio is unique in its investment objective, risk profile and composition (holdings). Whether you desire investment income or seeking primarily capital appreciation; there is a portfolio (or two) that is suitable for you. To give you some context and more information, below are the six model portfolios along with a short description for each... but if you want even more info, join me and our internal portfolio management team for a web conference Tuesday February 25th at 1:30PM by replying to this email and confirming your attendance.

The Six Model Portfolios

PI Focus 15 - is a model equity portfolio consisting of up to 15 mid- to large capitalization Canadian listed companies with an investment objective of long term capital appreciation.

For more information on any of the six above managed portfolios, please view the short summary here

Why Might You Consider PI Financial's Discretionary Managed Accounts Program

There are a number of benefits and reasons why, but I believe it comes down to three:

You are interested in a lower volatility portfolio compared to junior/micro-cap equities. In other words: lower risk investments
You desire investment income from your portfolio
You want investment professionals to make all the investment decisions on your behalf. Freeing up your time.

If you are interested in learning more about the six managed portfolios, our internal portfolio management team or how you can benefit from both join us for a web conference Tuesday February 25th at 1:30PM PST by replying to this email or calling me to discuss further 604-718-7576.

Discretionary Managed Accounts Program: How Can You Benefit?

website@sitemodify.com (Website Editor) — Fri, 01 Nov 2024 15:34:00 GMT

In my last blog post I highlighted PI Financial's discretionary managed accounts program. This program is overseen by our internal portfolio management team who manages six unique model portfolios consisting of mid to large cap equities, bonds and ETFs. In other words, blue chip-type investments.

The discretionary managed accounts program is ideal for you if you want:

Risk-management from venture capital investments - investing in diversified portfolio of leading mid-large cap companies, fixed income & ETFs
Generate reliable dividend income - investing in mid-large cap, reliable dividend paying companies & fixed income products
Free up your time – eliminate the time you spend self-managing your investments and focus on enjoying life
Tax deductible advisory fee – fees may be tax deductible, reducing income taxes you pay
Investments managed by professionals – see measurable results by having true professionals manage your investments

Each of the six portfolios is unique in its investment objective and risk-reward profile. Given the diversity between the portfolios, there is one or multiple portfolios which will fit your desired investment outcome. Whether you are seeking dividend income, serious potential price appreciation or a combination of the two, our portfolio management team can help you. To view a brief description of each model portfolio take a look here .

If our discretionary managed accounts program is of interest to you, I encourage to you join us for a web conference Tuesday February 25th at 1:30pm PST . Dial in details will follow.

Joining me for the web conference will be Mr. Bert Quattrociocchi - head of our discretionary managed accounts program. Bert is a Certified Portfolio Manager and has held positions in research, banking, institutional and retail sales throughout his 32 years in the investment industry. He is currently a senior portfolio manager and a member of PI Financial’s Executive Committee and Board of Directors.

To learn more about our discretionary managed accounts sign up for the web conference by clicking here or calling me today to sign up 604-718-7576.

I look forward to having join us for the web conference.