Monthly Archives: February 2013

Terry Broaders

Weekly Update February 25 2013

“I Used To Be Snow White But I Drifted” -Mae West


Stocks Snap Out Of Two Day Dip

Stocks rebounded on Friday from a two-day selloff, but not enough to prevent the S&P 500 from breaking a seven-week winning streak.  The S&P 500 closed at 1515.60, up 13.18 points or 0.9 per cent – but down about 4 points from the start of the week after sustaining its biggest one-day dip of the year on Wednesday. The S&P/TSX composite index advanced 61.65 points to 12,701.63 with all sectors positive, except for tech stocks. The blue-chip Dow Jones industrial average closed at 14,000.57, up 119.95 points or 0.9 per cent.  German business confidence rose to its highest level in 10 months, stirring optimism that the euro zone’s biggest economy could be on the mend.  It was the fourth monthly increase in a row, well above the 104.9 points expected by financial market analysts and supported the feeling that Europe’s biggest economy can avoid slipping into recession.  Meanwhile, Canada’s already low inflation subsided further in January. Statistics Canada says the consumer price index rose 0.5% in January compared with a year earlier, a smaller increase than the 0.8% gain in December and the smallest increase since October 2009.


Canadian Prefer Mutual Funds In RRSPs

Despite the wide range of investment options currently available to Canadians, mutual funds remain the core investment choice for Registered Retirement Savings Plans (RRSPs), shows a study by BMO Financial.  The poll finds that 72% of the participants with RRSPs hold mutual funds within their plan, and that mutual funds account for almost a third (31%) of all holdings held in RRSPs.  “Mutual funds remain a popular investment option for the average Canadian investor because, among other benefits, they offer immediate diversification,” says Serge Pépin, vice president, investment strategy, BMO Asset Management Inc. “As Canadian Boomers begin to retire in greater numbers, it’s natural that many would be looking to generate income from their investments, including mutual funds. According to the study, Canadians invest in mutual funds for several reasons, including: They are professionally managed (30%); They invest in a variety of companies/holdings (28%); They have strong growth potential (26%); There is a wide variety from which to choose (22%).

Market Update as of February 22 2013

The TSX closed at 12701, up 14 points or 0.11% over the past week. YTD the TSX is up 1.28%.

The DOW closed at 14001, up 19 points or 0.14% over the past week.YTD the DOW is up 6.85%.

The S&P closed at 1516, down -4 points or -0.26% over the past week.YTD the S&P is up 6.31%.

The Nasdaq closed at 3162, down -30 points or -0.94% over the past week.YTD the Nasdaq is up 2.30%.

Gold closed at 1579, down -31.00 points or -1.93% over the past week.YTD gold is down -6.01%.

Oil closed at 93.33, down -2.61 points or -2.72% over the past week.YTD oil is up 0.82%.

The USD/CAD closed at 1.0208, up 0.0156 points or 1.55% over the past week.YTD the USD/CAD is up 3.36%.



RRSP Deadline is March 1

Wait Before You Say “I Do”

Don’t Like to Save Money ?

RRSP Strategy


Sources: Bloomberg; BMO; Investment Executive;


Odette Morin

RRSP deadline is March 1st for cheque but February 25th for pre-authorized purchase from your bank

The RRSP deadline to make your 2012 RRSP contribution is March 1st.  We can accept cheques until 2pm Friday March 1st but if you want to make a Pre-Authorized withdrawal from your bank account or secure an RRSP loan, you must contact us as soon as possible and before noon Friday March 2nd to be sure the contribution will be made on time.

Contact Anthony today to make arrangements!  email hidden; JavaScript is required


Odette Morin

Wait before you say “I do”! Did you talk about money first?

BMO Annual Valentine’s Day RRSP Study found that Fewer than a third of couples discuss Retirement plans before saying “I Do”. As uncomfortable and unromantic as it may seem at first to discuss finances with your romantic partner, it is necessary to be on the same page about money before getting married or living together. Solution: make an appointment with me and let me do the talking. You may find the process easier and more fun than you thought possible. See yourselves as a team. A team needs to focus on the same goal and have coaching session regularly! Go team Go!!


Odette Morin
Odette Morin

RRSP strategy: Will your income be higher in 2013 then it was in 2012?

 You might want to delay making an RRSP contribution if this is the case. When you call or email or come in for a meeting we will be sure to ask you for 2012 and future income to establish your tax brackets and decide whether you should wait to next year. For example, if your income was less than $45k in 2012 and will be more than $55k in 2013, you would get an extra $1000 tax saving (or refund) by waiting one year on a $10k contribution!!

If you have the funds now and are really smart, you would make the RRSP contributions now but use it only against your 2013 income. Yes, you can do that and should if your income will be in the next tax bracket. Just remember that you must report the contribution on your 2012 but carry it forward to a future year. This is all done on schedule 7 of your tax return. Ask us, if you are not sure how!shutterstock_58069147

Odette Morin

Here is why Financial Advice doesn’t cost – it pays!

“In 2012, two major studies emerged that attempted to put a price on financial advice. In September, research from Morningstar Inc. attempted to pin down that added value and came up with a number: 1.82 percent per year. That may not sound like much, but the researchers projected that it could mean an extra 30 percent in income per year for retirees who receive financial advice compared to those who go it alone.”

couple meeting female advisor

Find out how here.