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 2.35% **
2 year 2.39% **
3 year 2.40% *
4 year 2.50% *
5 year 2.60% *
Minimum Investment $25,000* Minimum Investment $50,000 **

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

Today's Rates

As of 17 Oct 2019
TermGICRRSPRRIF
12.210%2.210%2.210%
22.300%2.300%2.300%
32.350%2.350%2.350%
42.350%2.350%2.350%
52.450%2.450%2.450%

For all our rates, click here to register or login.

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

More Canadians have TFSAs than RRSPs — but they’re not using them to invest

More senior Canadians have Tax-Free Savings Accounts (TFSAs) than Registered Retirement Savings Plans (RRSPs), but they’re using them for “savings storage” rather than investments, according to a new RBC poll.

It was the first time the annual RBC Financial Independence in Retirement Poll — now in its 29th year — found more TFSAs (57%) than RRSPs (52%) among Canadians aged 55 and older. In fact, TFSAs are now the preferred savings option.

To read full article click on the link below:
https://www.lowestrates.ca/news/more-canadians-have-tfsas-rrsps-not-using-them-invest-25741

Bank of Canada maintains overnight rate target at 1 ¾ per cent

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent.

Global economic growth has slowed by more than the Bank forecast in its January Monetary Policy Report (MPR). Ongoing uncertainty related to trade conflicts has undermined business sentiment and activity, contributing to a synchronous slowdown across many countries. In response, many central banks have signalled a slower pace of monetary policy normalization. Financial conditions and market sentiment have improved as a result, pushing up prices for oil and other commodities.

To read full article please click on the link below:

https://www.bankofcanada.ca/2019/04/fad-press-release-2019-04-24/?utm_source=RDBA+Email+List+May+2017&utm_campaign=258b439260-NEWS_2019_04_24&utm_medium=email&utm_term=0_2fb13e0136-258b439260-226120685

So much for rising interest rates: The returns on GICs have taken an unexpected downturn

The rising trend for rates on guaranteed investment certificates has abruptly fizzled.

Some fairly good deals are still available, but rates on average have actually fallen lately.

Brandon Brot of GIC Wealth Management says his firm’s best rates on one-year GICs were 0.11 percentage points lower in the second week of January than at the beginning of December, and two-year rates were an average of 0.16 points lower. Yields on terms of 3-to-5 years have also fallen, but to a lesser degree.

To read full article click on the link below:

https://gicwealth.ca/so-much-for-rising-interest-rates-the-returns-on-gics-have-taken-an-unexpected-downturn/

Bank of Canada maintains overnight rate target at 1 ¾ per cent

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent.

The global economic expansion is moderating largely as expected, but signs are emerging that trade conflicts are weighing more heavily on global demand. Recent encouraging developments at the G20 meetings are a reminder that there are upside as well as downside risks around trade policy. Growth in major advanced economies has slowed, although activity in the United States remains above potential.

To read full article click on the link below:

https://www.bankofcanada.ca/2018/12/fad-press-release-2018-12-05/?utm_source=RDBA+Email+List+May+2017&utm_campaign=7e21619a20-NEWS_2018_12_05&utm_medium=email&utm_term=0_2fb13e0136-7e21619a20-226120717

TFSA Limit for 2019

The TFSA contribution limit for 2019 is $6,000, up from $5,500 in 2018.

With the TFSA limit at $6,000 for next year, the total room available in 2019 for someone who has never contributed and has been eligible for the TFSA since its introduction in 2009 is $63,500.

To read full article click on the link below:

https://www.advisor.ca/tax/tax-news/tfsa-limit-for-2019-released/?utm_source=EmailMarketing&utm_medium=email&utm_content=advisor&utm_campaign=WIR_Newsletter&oft_id=45909006&oft_k=ETlbUaJm&oft_lk=PH5VGh&oft_d=636785661210600000&fpid=552960&m32_fp_id=9pF1s4&ctx=newsletter&m32_fp_ctx=DI_MASTER_Relationa


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