GIC (Gee I Care)
Peter Katevatis - Jul 07, 2018
When it comes to the thrilling world of investing and growing wealth, nothing gets the blood pumping like 1 year cashable (30-day) Guaranteed Investment Certificate, or GIC. The excitement of a 0.01% move in interest rates can really move the needle
When it comes to the thrilling world of investing and growing wealth, nothing gets the blood pumping like 1 year cashable (30-day) Guaranteed Investment Certificate, or GIC. The excitement of a 0.01% move in interest rates can really move the needle on your overall return.
Facetious comments aside, GICs and other bond products have a place in many investors’ investment portfolios. They can be an anchor in times of volatility and preserve capital so that investors have cash to do the simplest of long term investing strategies… buy low.
Canaccord Genuity Wealth Management is one of the largest independent financial advisors in Canada which gives us one interesting luxury, having FULL access to investment products best suited for our clients.
For example, we can offer a GIC from Alterna Savings Credit Union or from Affinity Credit Union. Alterna is the 2nd largest credit union in Ontario and Affinity is 2nd largest in Saskatchewan, but Alterna currently offers a higher interest rate than Affinity. The independence of Canaccord Genuity allows us to source the highest rates available country wide.
There are two arms to investing, Wealth Creation and Wealth Management. Wealth Creation seems to always grab the headlines, whether the news is positive or negative. Many Canadians look to BNN Bloomberg for their investing news and lately it has been over 50% dominated by a small fringe of the Wealth Creation industry, cannabis. This explains that Wealth Management doesn’t sell as much advertising for television stations.
GICs would fall under the Wealth Management umbrella and clients are often surprised how much better our rates are than the traditional bank product.
If you are renewing a GIC or looking to add something conservative to your portfolio, do not hesitate to ask us for a quote. We always care to see you get the best rates, Gee I Care.