May 2022 Investors have been on a wild ride this year. Geopolitical conflict, supply chain challenges, rapidly rising inflation – they’ve all contributed to the current volatility in spades. And while seasoned investors sometimes welcome volatility as part of the investment game, it can still be unsettling for even the experts, especially when we experience unprecedented changes. As we write this Market Commentary in mid-May, our outlook is cautiously optimistic despite the wild ride investors have been treated to this year thus far. And that optimism is rooted in the quality and diversificati ..read more

May 2022 It’s that time of year when spring cleaning is top of mind for many. Your personal finances are like your home – they can benefit from a good spring cleaning now and then. Take advantage of spring by reviewing your financial habits and creating a solid plan that will prepare you for financial success. Your ‘why’ changes over time, and so do the financial means to get you there. An annual review of your finances can help you assess your short-term and long-term goals around your ‘why’. Update Your Budget Or, if you don’t have a budget, there is no time like the springtime present to cr ..read more

April 2022 Sadly, the Russian invasion of Ukraine continues to dominate the headlines. After seven weeks of the conflict over 10 million Ukrainians have fled their homes (according to the United Nations), and the World Bank is predicting that Ukraine’s economy will shrink by over 45% as a result of the invasion. On the financial markets front, equity market performance since the February 24th invasion has been reasonably robust. The Canadian S&P/TSX composite index has yet to dip below it’s February 23 closing price and is 5% higher as of April 19th. Even the MSCI ACWI, which tracks global ..read more

April 2022 All business owners need to consider their exit strategy at some point. Whether this exit strategy is to leave the company to family members, whether it is to sell their business stake to a partner, or whether it is to position their organization as a strong acquisition target, this exit is inevitable and needs to be carefully considered and planned for. In recent months, WealthCo’s Innovative Accountant podcast has featured, not one but two, business valuation subject matter experts: Melanie Russell, President of Toronto-based Kalex Valuations, who joined podcast host Tim Coakwell ..read more

March 2022 A key part of a healthy and robust financial plan is having a properly diversified portfolio. Investments come in all shapes and sizes and is only one portion of your broader financial plan, which may also include taxation strategies, estate planning, risk management, and more. With terms like annualized rate of return and asset allocation, investing even seems to come with its own language. And knowing where to even begin can be daunting. Fortunately, an in-depth knowledge of investing is not required to get started. Why is Investing Important? Famed investment advisor Robert G. Al ..read more

March 2022 While Google has empowered so many of us to take on activities and tasks that we may not have 25 years ago (like self-diagnosing medical ailments and do-it-yourself projects), I think we can all agree that there is still a time and a place for working with an expert. And financial planning is one of those areas where working with an expert, as opposed to trying to get ahead yourself, is the surefire way to go. The Financial Planner Advantage “Financial planning is an ongoing process that helps people make intentional decisions based on what we know today,” Tim Fox, WealthCo’s Vice P ..read more

March 2022 On February 24th, Russia invaded Ukraine and set off a devastating humanitarian crisis that has gripped the world. At the time of writing, Russia’s relentless attacks continue as the world grapples with this unexpected challenge to geopolitical order. Our hearts go out to the citizens of Ukraine who are suffering incalculable and unimaginable losses. Their bravery and passion are awe-inspiring to say the least. WealthCo welcomed Dave Makarchuk as its new Chief Investment Officer in early February. Dave’s grandparents emigrated from Ukraine to Canada in the early 1900’s, and Dave was ..read more

March 2022 It’s not hard to find examples of horror stories that became reality because of inadequate estate planning. Just consider: The Rogers family, who recently made headlines for their bitter family feud during a $26 billion takeover (read our article Lessons Learned in Succession Planning from the Rogers Family for more details); Larry King, who’s estranged wife and children battled it out over his $144 million estate after a handwritten will was introduced after his passing; and John Singleton, who’s 16-year-old will, listing only one of his five (or possibly seven) offspring, was hot ..read more

After a strong finish to 2021, market performance during the first couple of months of 2022 has been choppy to say the least. While market volatility is par for the investing course, it is still unsettling, particularly when it is higher than average. Russia’s invasion of Ukraine on February 24th further contributes to market volatility, and it is likely that we’ll continue to witness heightened levels of market fluctuations for some time as the world digests the implications of a significant disruption to world peace. “It is particularly important at times like this that investors ensure thei ..read more

It’s that time of year when taxes and investments are top of mind for many, what with the rapidly approaching March 2, 2022 being the deadline for contributing to an RRSP for the 2021 tax year. One of the most common questions that our financial planners get at this time of year is whether to contribute to a Tax-Free Savings Account (TFSA) or whether to contribute to a Registered Retirement Savings Plan (RRSP). There is not a simple, clear-cut response - the answer will vary based on several factors that are specific to each investors’ situation, which we have reviewed below. The Basics of RRS ..read more