Managed Money Reporter Newsletter — Issue 285, May/June 2015


Editors: Carl Spiess & Allan McGlade


Featured Articles



Taking advantage of TFSAs

Carl Spiess

By Carl Spiess, CFP, CIM, FMA, FCSI, MBA

The recent Federal Budget increased the TFSA room for 2015 to $10,000 from $5,500. We are now helping clients top up the $4,500. FYI, the lifetime cumulative total is now $41,000 and future contributions are scheduled to be fixed at $10,000 per year.

For more details, please see:

To top up your TFSA, please contact us, or you can make your contribution online:

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New RRIF rules and the rest of the budget

For our clients aged 71 and older, we are recommending that most of you hold off on adding back into their RRIFs if payments have already been made or taking the higher RRIF withdrawal as required for the rest of 2015. Contributing back into the RRIF in the first 60 days of 2016 will ensure a lower 2016 withdrawal requirement and still get a 2015 deduction. Please contact us with questions about RRIFs or any other part of the budget.

  • ScotiaMcLeod budget analysis

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Team news: David's new title & Debbie's return

We are pleased to announce that team member David Hillier has a new title of Wealth Advisor. David's dedication to client service and his ongoing commitment to furthering his education and credentials has lead to this change of title. Please join us in congratulating him! David looks forward to helping you with your investments and financial plans. He will be taking on more responsibility for our Discretionary Account Portfolios, a rapidly growing part of our business.

Also, please welcome Debbie Ann Espiritu back from her 2nd maternity leave and growing family.

We are excited to now be back with the same team members who have been working together for you for so many years. Check out all the bios:

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Scotiabank in the community

Scotiabank was recently recognized as one of the best places to work. And it was even nicer for me to be a Scotiabanker on May 14th when a Heritage Toronto Plaque that my mother Gunild Spiess had organized was unveiled. The plaque was to commemorate the founding family of her Willowdale neighbourhood, the Cummer family. Little did I know that the local Scotiabank Branch, through Scotia's Heritage Toronto sponsorship, would be there with a banner as well. It was a proud day.

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Recommended reading & viewing

Our Spring Edition of Investment Portfolio Quarterly (IPQ) publication has been published. Please do not hesitate to touch base with us should you have any questions about the information provided in IPQ, or your portfolio.

Also, some new economic outlook videos by Scotiabank's Economics and Strategy groups are now available:

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Invest with Joel

You may have seen the advertising:

Fidelity is launching new funds managed by veteran fund manager Joel Tillinghast. We first wrote about Joel in 2002, his Northstar fund was brand new.

We since added it to our recommended list and it has been a terrific performer for many clients.

Joel has stuck with the fund through the departure of Alan Radlo and has taken on increasing responsibilities with the Northstar fund:

We like his track record so we will be monitoring the new funds and let you know if any changes are recommended.

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Recommended Link of the Month

Mackenzie financial has launched a new program to help Canadians talk with their advisors. We welcome any initiative that helps start conversations about Longevity, Income, Volatility, Estate, Inflation and Taxes. Check it out and let us know what you think.

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Contact Us

T.  416.863.RRSP (7777)
     1.800.387.9273
F.  416.863.7479
E. carl.spiess@scotiawealth.com
    allan.mcglade@scotiawealth.com

ScotiaMcLeod is a division of Scotia Capital Inc., member of CIPF.

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® Registered trademark of The Bank of Nova Scotia, used under licence. ™ Trademark of The Bank of Nova Scotia, used under licence. Scotia Wealth Management™ consists of a range of financial services provided by The Bank of Nova Scotia (Scotiabank®); The Bank of Nova Scotia Trust Company (Scotiatrust®); Private Investment Counsel, a service of 1832 Asset Management L.P.; 1832 Asset Management U.S. Inc.; Scotia Wealth Insurance Services Inc.; and ScotiaMcLeod®, a division of Scotia Capital Inc. ("SCI"). Wealth advisory and brokerage services are provided by ScotiaMcLeod, a division of SCI. Insurance services are provided by Scotia Wealth Insurance Services Inc., the insurance subsidiary of SCI. When discussing life insurance products, ScotiaMcLeod advisors are acting as Life Underwriters (Financial Security Advisors in Québec) representing Scotia Wealth Insurance Services Inc. SCI is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.

The Spiess McGlade Team is a personal trade name of Carl Spiess and Allan McGlade.