FYI/Blog Archives - GIC Wealth Management

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    GIC Wealth Management Inc. is a proud member of the Registered Deposit Brokers Association.

    To learn more about the RDBA please click   www.rdba.ca for more information

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Special Rates
1 year 1.10% ***
18 months 1.50% **
2 year 1.45% *
30 months 1.75% **
3 year 1.65% *
4 year 1.75% *
5 year 2.06% **
Minimum Investment $25,000 * Minimum Investment $50,000 ** Minimum Investment $100,000 ***

CDIC Deposits Insured up to $100,000 DICO Deposits Insured up to $250,000 Assuris Deposits Insured up to $100,000


Rates are subject to change without notice.
Certain minimums may apply. Call for details.
E&OE.

Proud Members of the RDBA

GIC Wealth Management Inc. is a member of the Registered Deposit Brokers Association. The RDBA is the professional standards Self-Regulatory Organization (SRO) for the Canadian Deposit Broker Industry. Membership in the organization includes Financial Institutions, Deposit Brokers and their representatives. The organization is a strong supporter of a regulated industry and strives to work closely with federal and provincial governments and other regulators to insure investor safety and compliance with regulatory mandates.With every deposit we make on your behalf, a Client Consent and Information Form issued by the RDBA and signed by the client is required. If you have any questions about the RDBA, or the required form, please contact us.

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FYI / Blog

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3 Reasons Why GIC Wealth Management Offers Higher GIC Rates than Banks and Credit Unions. Click here

FAQ: Understanding Depositor Insurance in Canada
There are four different types of depositor insurance programs in Canada. Read this FAQ for the basics on how they work and what they cover. Click here
 

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Testimonials

I have used the services of GIC Wealth Management Inc. for the past 8 years, and have found both Kevin and Brandon to be very helpful and knowledgeable in the investment industry. It has always been a quick and simple process to have my investments transferred to one of the institutions they represent. I will definitely keep my investments with GIC Wealth.”

– EA, Toronto

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Category: FYI/Blog

Even as market surges, broker sees GIC demand

Steady interest in guaranteed investment certificates driven by uncertainty on rally’s length, expert says
In a normal stock market rally, GIC broker Brandon Brot typically sees a drop-off in client investment flows. Not this time. The U.S. stock markets are back at new highs after the March crash and the S&P/ TSX Composite Index has powered most of the way back out of its hole. But demand for guaranteed investment certificates today is pretty much what it was 12 months ago for Mr. Brot’s company, GIC Wealth Management.
“Although the stock market has done very well, there’s not a lot of optimism out there,” he said. “People don’t know if it’s going to last. They’re scared and they want to ride it out.”
The preference for GICs is particularly notable because interest rates have been edging lower for months now. Where five-year GICs offered 3 per cent a few months ago, the highest rate available in late August was 2.1 per cent.

To read full article click on the link below:

https://gicwealth.ca/even-as-market-surges-broker-sees-gic-demand/

How to get better returns without taking too much risk

Your fixed income investments create an uncomfortable dilemma for you these days.

On the one hand, with so much pandemic-driven uncertainty about your stock market investments, you need a healthy chunk of relatively safe forms of fixed income to provide stability to your portfolio.

But on the other, with interest rates at ultralow levels, you earn very little yield for playing it safe with these conservative investments.

To read full article click on the link below:

https://gicwealth.ca/how-to-get-better-returns-without-taking-too-much-risk/

Small Canadian banks chase deposits to secure funding for troubled times

TORONTO (Reuters) – Canada’s small financial institutions are waging a war for deposits, offering customers higher interest rates as they try to shore up funding, despite a drop in official interest rates to a decade-low.

While Canada’s biggest banks have a variety of funding sources including wholesale markets, smaller players are more dependant on sticky customer deposits and earnings, particularly as credit spreads widen due to the economic fallout of the coronavirus pandemic.

Larger banks can also access government liquidity support including security purchases, and have capital buffers they can draw down, both of which are limited for smaller institutions.

To read full article click on the link below:

https://gicwealth.ca/small-canadian-banks-chase-deposits-to-secure-funding-for-troubled-times/

Humble GICs go from schlub to stud in just four weeks as stocks tumble

Guaranteed investment certificates are the investing world’s version of the Keep Calm and Carry On sign.

GICs have been their inert self during the coronavirus crisis, which is to say they have done nothing but pay interest. GICs at best today yield in the 2-per-cent range for terms of one through five years. Four weeks ago, while stock markets were peaking, those returns looked pathetic.

Today, not so much. The S&P/TSX Composite Index is off its late-February peak by about 30 per cent, and more declines are a real possibility. How can stocks not go lower when we don’t know how badly the economy will be affected by social-distancing measures meant to control the virus?

https://gicwealth.ca/humble-gics-go-from-schlub-to-stud-in-just-four-weeks-as-stocks-tumble/

Bank of Canada maintains interest rate: Read the official statement

Here’s the Bank of Canada’s official statement for its interest rate decision on Wednesday, October 30, 2019:

The Bank of Canada today maintained its target for the overnight rate at 1.75 per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1.5 per cent.

The outlook for the global economy has weakened further since the Bank’s July Monetary Policy Report ( MPR ). Ongoing trade conflicts and uncertainty are restraining business investment, trade, and global growth. A growing number of countries have responded with monetary and other policy measures to support their economies. Still, global growth is expected to slow to around 3 per cent this year before edging up over the next two years. Canada has not been immune to these developments. Commodity prices have fallen amid concerns about global demand. Despite this, the Canada-US exchange rate is still near its July level, and the Canadian dollar has strengthened against other currencies.

To read full article please click on the link below:

https://www.msn.com/en-ca/money/topstories/bank-of-canada-maintains-interest-rate-read-the-official-statement/ar-AAJzIwM?li=AAgh0dA


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