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What Really Happens if You Die in Ontario Without a Will?

Close-up of hands and pen crafting a will.

The law says that you died “intestate”. That means that you died without leaving clear instructions as to how your property (real estate, investments, personal property, etc.) is divided and distributed. In these situations, The Ontario Succession Law Reform Act will govern how your property will be distributed. It’s also important to note that even if you want your property divided according to provincial law it’s still best to prepare a will. That way you can reduce delays and expenses.

What to Consider When Choosing the Right Advisor

What to Consider When Choosing the Right Advisor

MoneySense recently chatted with James P. Gunn, a Certified Financial Planner and Registered Retirement Consultant with Halton Wealth Management Inc., an independent wealth management firm. We asked Gunn about how Canadians can expand their search and find the money manager that’s best suited to their long-term goals.

What To Do and Not To Do in the Pandemic

Business professional working with clients.

The best strategy to manage investment portfolios is to have a plan that was in place long before a crisis begins. For example, your portfolio should be reviewed at least annually. In years like 2019 that produced exceptional returns, your portfolio should have been reviewed and very likely adjusted given the markets were at all-time highs. If you did that and reduced risk, you would have experienced less volatility during the early panic selling. This would also provide some investors with additional options for rebalancing when markets hit lows.

We put together some ideas and tips to help you deal with the financial impact many are facing during the pandemic.

What’s With These Markets Lately?

Couple assessing their finances and investments.

What is causing the volatility in the markets in 2022? The answer is complicated, yet quite simple. People are worried about their future. When they worry, they become stressed. When they are stressed, they make poor decisions or delay making decisions. They start panic selling, stop investing because they believe markets will only go down. Lately, the markets are feeling the worry and stress of the people.

What’s Your Number?

What’s Your Number?

When does your Financial Advisor call you? What number on his call list are you? If you are an investor, this is something that you likely haven’t thought about, but should. To understand why this really matters, let’s say you are a client of a Financial Advisor that is not licensed as Portfolio Manager (PM) and thus does not have the ability to service discretionary accounts. 

Why Investors Get it Wrong When They Make Changes After Markets Decline

Two professionals in a business meeting.

Let’s not forget, investors are human and many times act emotionally based on their biases. It’s who we are as individuals. It’s taken us decades to become who we actually are (not how we see ourselves). It’s very easy to come to conclusions and make decisions without giving much thought to the bias. I’ve often talked about “recency bias”. This is the tendency to weigh the latest information more heavily than older data. Investors often think the market will always look the way it does today or continue to perform as it did recently and make unwise decisions.

Why Many Retirees Need to Change Their Advisor

Retired couple reviewing advisor information.

When we are meeting with prospective clients, one of the questions we ask them is: what led you to your search for a new advisor? The answer that we most often get is that their current advisor no longer meets their needs. What we are told is that the advisor helped them to get to this point during the accumulation phase, but what they need now is someone that specializes in working with clients that are age 50 and over. This group is mainly focused on retirement income. They need to work with an experienced advisor that specializes in working with retirees and understands their unique needs.

Why You Should Be Reviewing Your Debt and Looking to Substantially Lower Your Costs

Man counting money with calculator.

As we look back at 2020, we are inclined to see ourselves as survivors of a year like no other. Sometimes when we view life through that lens we fail to identify opportunities that present themselves. One thing that 2020 did was to lower interest rates. This is a perfect opportunity to take a step back and look at ways that you may benefit from these lower rates.

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