Managed Money Reporter Newsletter — Issue 297, January/February 2017


Editors: Carl Spiess & Allan McGlade


Featured Articles



RRSP, TFSA and RESP contribution time

Carl Spiess

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

It is that time of year when we are pleased to help clients decide on their annual contributions and investments. Below, is a link to a good piece on RRSP and TFSA basics. The maximum TFSA contribution room is now $52,000.

In just 8 years since the TFSA was introduced, the Spiess McGlade team has over $20 million invested in our clients' TFSA accounts. And we are pleased that ScotiaMcLeod's TFSA statements are industry leading and show the total contributions made in your TFSA to help keep track of and take advantage of all your available room.

We also enjoy helping clients in their retirement income phase. This year, for our retired clients who are over age 71, we will be making a total of $6.9 million in regular RRIF payments. Ask us for help getting everything set up if you are approaching this important transition time.

You can make your contributions online from most major financial institutions.

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Scotia RRSP and tax reporting going online

ScotiaMcLeod is pleased to announce that effective February 13, all your RRSP and other tax receipts from the past 5 years will be available through the Scotia Online secure service. And for next year, you will be able to choose a pure paperless option for all your receipts. We encourage you to contact us for more information or to help you get set up for paperless recordkeeping.

For those making pre-authorized or payroll contributions, you will notice earlier and more frequent RRSP receipts coming from ScotiaMcLeod this year. This provides you with the ability to easily split the amount you claim for 2016 and/or hold on to for 2017 and allows you to do your taxes sooner if you wish. You can of course wait until you have received all your receipts for the first 60 days of 2017.

For more on paperless recordkeeping, see our online access page:

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New performance and fee statements

New ScotiaMcLeod Performance & Fee Statement

At the end of January, ScotiaMcLeod's new performance and fee statements will be mailed (or available online for clients who have elected to have paperless recordkeeping). Please contact us if you have questions.

The regulators require us to generate dollar weighted returns which do not allow for comparison with an index. We expect that many clients will be wanting a comparison with index performance and we are pleased to provide time weighted returns in a separate report. Contact us for more information.

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Team news

Allan McGlade

We are pleased to note that Allan McGlade is celebrating 20 years with ScotiaMcLeod. He originally joined our team to focus exclusively on insurance. It quickly became apparent that he excels at investment management and client relationships, as well. Allan has recently been leading our transition to fee-based accounts and discretionary portfolio management.

Thank you Allan for your years of service and ongoing commitment to our clients.

See Allan in our new team profile brochure:

 

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Real estate page updated

Where are the real estate markets headed? How does Canada compare with other global real estate markets? Should you pay down your mortgage or top up your RRSP?

We have recently updated the information on our real estate page with some of the slides we are using in our 2017 RRSP seminars. We also have also added a few new research links with commentary on the Canadian and Global real estate markets.

Please visit our page real estate page for more information:

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Fund News: Scotia reducing fees on several mutual funds

We are receiving almost daily news about fund companies reducing their fund fees. One of our largest client holdings is Scotia Canadian Dividend fund. So of interest to many of our clients, the widely held Scotia Canadian Dividend fund F class fee (where the fund is held in a fee based account) drops from .75% to .70%. See:

Please contact us if you would like a review of your fund fees and options like fee-based accounts or ETFs to reduce the overall management fees on your portfolio.

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Have you seen the advertising: Invest With Danoff

Invest with Danoff

Fidelity have a large marketing campaign out called "Invest with Danoff". Will Danoff is a portfolio manager who has added billions of dollars in active outperformance to US investors. Until now, his fund management has not been available to Canadian investors.

As part of our ongoing due diligence on behalf of our clients, the Spiess McGlade team will be at the official launch of the new Danoff managed funds and will review if and how they can help our clients' portfolios. In the interim, you can check out:

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Recommended Link of the Month

We continue to like the Capital Group for their global investment funds and "beyond Canada" perspective on our world. Especially with new policies coming into effect under president Trump in the US, their market updates are well worth checking out from time to time.

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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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