CFA Institute targets questionable advice from finfluencers
[By Jonathan Got, Advisor.ca] Only 20% of finfluencer content containing investment recommendations has disclosures of any kind, a study by New York-based CFA Institute finds.
General Interest
FSRA pegs ‘stranded’ pension plans at more than $3 billion
[By Sammmy Hudes, published on Investment Executive] FSRA, an independent regulator, says there are almost 200,000 pension plan members in the province who have lost track of their plans, with more than $3 billion in associated benefits “stranded.”
Canadian banks’ funding is stable despite losses since SVB failure
[By Advisor’s Edge] Canada’s banks have suffered losses since the collapse of Silicon Valley Bank (SVB) and the ensuing liquidity crisis, but the damage is not expected to be significant, a report from DBRS Morningstar says.
The seven money myths that stand in the way of a good financial plan
[By Jennifer Cook, for Financial Independence Hub] As Canadians face year-end decisions on investments, taxes, and RRSPs, we at Co-operators have identified common gaps in financial preparedness stemming from the spread of money myths. There are many myths that can derail planning, but I’d like to talk about the top seven and offer a remedy in … Read more
Loan vs. Line of Credit: What’s the Difference?
[By Colin Graves, RetireHappy] When you need to borrow money, your lender may present you with the choice between a loan or a line of credit. While both credit products can accomplish the same goal, they have several differences, and one is often more suitable than the other.
What economists are saying about Bank of Canada’s steep rate increase
[By Bianca Bharti, Financial Post] The Bank of Canada delivered a steep hike of the overnight interest rate on July 13 as it wrestles to get decades-high inflation under control. Governor Tiff Macklem and his deputies raised the policy rate by a full percentage point, bringing the interest rate up from 1.5 per cent to … Read more
Canadians suffer layoffs, pay cuts, tax hikes – MPs get pay raises
[By Linda Leatherdale, The Toronto Sun] What a cruel joke to play on cash-strapped, pandemic-weary Canadians. Effective April Fool’s Day, our elected officials in Ottawa are giving themselves fat-cat pay raises. Calculations by the Canadian Taxpayers Federation show Prime Minister Justin Trudeau, who earns a whopping $365,200 a year, will get an extra $6,400. Backbenchers, … Read more
CDIC’s strengthened deposit insurance framework
Changes to deposit insurance took effect on April 30th, adding foreign currency deposits and term deposits of greater than five years to CDIC’s coverage framework. “These changes demonstrate that CDIC is keeping pace with how Canadians bank and save, so they have even greater assurance that their hard-earned money is protected at any of our … Read more
Financial Rules of Thumb to Consider Breaking
[By Pat Mertz Esswein, Kiplinger] Financial rules of thumb circle around the internet like flotsam caught in an eddy. We scrutinized five particularly persistent ones to see how they hold up. Our conclusion: Most have merit as a starting point for setting a financial goal. But depending on your personal circumstances, you may benefit from … Read more
The Best Advice for Saving as Much as You Can
[By Alicia Adamczyk, Lifehacker] There is no one right answer to the omnipresent question of the basic budget, but here’s a few bits of wisdom for any financial planner.
