Are
your deposits safe in the bank?
Never before have we seen a global banking crisis, yet we've thought
about it! |
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 Canada's
banks are perhaps the safest places to hoard your deposits. Why? Because of the
way successive federal governments have keep pace with, and orchestrated the various
regulators that administer the banking system. Canada Deposit Insurance Corporation
(CDIC) has masterminded and implemented strict controlling measures to protect
your deposits. It works hand-in-hand with the Office of the Superintendent of
Financial Institutions (OSFI) the national banking regulator. You may even be
surprised to learn that CDIC exports these controls to other countries around
the world and is regarded as a benchmark in depositor protection.
Use the Read
More link to view the complete article. |
Legacy
or Executor Fees
An uncle's legacy is considered an executor's fee |
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 One
of the issues that comes up regularly in an estate situation is whether amounts
received by the executor from the estate are taxable executor's fees or rather
should be properly considered a tax-free legacy from the estate. It's critically
important to ensure that the will is properly drafted to minimize any ambiguity
later as to the capacity in which an executor is receiving his or her funds.
Use the Read
More link to view the complete article. |
| More
CDIC deposit protection needed for registered retirement investments |
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All guaranteed registered retirement investment products held at CDIC member
financial institutions - whether RRSPs, RRIFs or LIFs - should carry 100% deposit
insurance protection. Investors conscious of deposit insurance limitations and
sensitive to interest-rate returns often choose small or mid-sized institutions
for higher retail deposit rates on their retirement deposit accounts.
We at Fiscal Agents feel that CDIC coverage should be increased to 100% for
registered plans. This probably won't happen anytime soon however without a
lobbying effort on the part of the public. We are therefore recommending
that all concerned either write directly to the Finance Minister Jim Flaherty
or complete one of our preprinted form letters available via the links below,
forwarding it to our offices which we will submit in bulk to the Finance Minister.
Use the Read
More link to view more information concerning our deposit insurance coverage
campaign.
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| Trying
to gauge risk seems to be the question in hindsight, as we examine the virtues
of playing it safe. |
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 In
this issue we'll look at risk, as the financial markets are in turmoil and investors
are moving funds into saver havens. The most common of which is a guaranteed investment.
The first article we're revisiting is GICs:
A new take on a tried and true investment. It examines the flexibility
and security of having GICs as the mainstay of a fixed income portfolio.
Use
the Read
More link to view the complete article. |
| Benefiting
from interest earning investments |
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|
 GICs
are not very exciting. As a result, they are often overlooked - even disparaged
- in the search for investment alternatives. GICs are, however, very straight
forward and predictable, and thus easy to understand and manage. With a few simple
steps, you can improve the performance of your GICs.
Use the Read
More link to view the complete article. |
GICs
are no longer just plain vanilla!
Deciding between the different types of Guaranteed Investment Certificates,
Guaranteed Income Contracts and Term Deposits
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 Today's
investor has no shortage of guaranteed investment options and products to choose
from. At Fiscal Agents we believe that an informed investor is our strongest asset
and as such, we've provided a guide you through many types of investments decisions
you are faced.
We want you to profit from our research. Our Info-Reports
provide a base reference source of investment products in a simple format as mentioned
in the Globe and Mail newspaper. Also for further reference, have a look at our
IP-Profiler
section. For some background information on terms and conditions, we recommend
the article
The Ins and Outs of GICs.
Rob Carrick, the Personal Finance columnist at the Globe and Mail spotlights Fiscal
Agents Info-Reports on Guaranteed Investments and banking products as a place
to visit. He says:
"Want some safer alternatives to money market funds? You'll find a useful
risk assessment of all kinds of investments on the website of the financial planning
firm Fiscal Agents (fiscalagents.com - go to the Knowledge Centre and then to
Info-Reports). Fiscal Agents says more secure options include cashable guaranteed
investment certificates, government Treasury bills and short-term corporate borrowing
instruments called bankers acceptances and commercial paper. There are also high-rate
savings accounts that can be incorporated into investment accounts as a money
market fund alternative."
Use
the Read
More link to view this section on our website. |
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Today's
Market Rates |
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Taken from the FiscalAgents.com
Money Centre, as of 10/14/08
| Term
Deposits |
3.80%
|
Annually,
180-269
Days, $25,000 |
| GICs |
4.70%
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| Annually,
5 Year, $5,000 |
| Maximum
Rate |
4.70%
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| Annually,
5 Year, $25,000 |
| RRIFs |
4.85%
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| Annually,
20 Years, $50,000 |
| RRSPs |
4.65%
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| Annually,
5 Year, $5000 |
| Savings
a/c |
3.00%
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| Daily |
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Click the link below to view our best-offered rate table.
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Mutual
Fund Statistics:
August 2008 |
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| Assets
under management: |
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$695.6 billion |
| Net
sales (excl.reinv.distr.): |
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$799.6 million |
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