Managed Money Reporter Newsletter — Issue 300, July/August 2017

Editors: Carl Spiess & Allan McGlade

Featured Articles

300th Issue of the Managed Money Reporter

Carl Spiess

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

We are excited to share the 300th issue of our Managed Money Reporter newsletter. It is interesting to look at back issues and remember when interest rates were over 10%. And back in 1987 there were fewer than 200 investment funds available to Canadians. But even then, making a decision on what to invest in was difficult. We've always prided ourselves in our independence to provide our clients with recommendations on the most appropriate and best performing investments for your needs. And we look forward to continuing to provide you with news and updates about Canadian financial planning and investment topics of interest in the years to come.

See our oldest back issues:




Canadian Dollar and Rising Interest Rates

The largest impact of the Bank of Canada raising interest rates to 3/4% on July 12th was the swift rise of the Canadian dollar. The dollar moved from $.73 to over $.80 US between the beginning of May to the end of July. That 10% rise significantly impacted foreign fund holdings and contributed to volatility in client accounts more than any actual stock market changes. And Canadian bond funds were barely impacted by the rate change. For more details and analysis, please see our firm's Portfolio Compass:

For more economic analysis, Scotiabank's global outlook provides even more context:

The other major impact of rising interest rates was on the housing market. The Toronto housing market for example had already seen a hit from new measures implemented by the Ontario government. See our Toronto Housing market update for more details:

It is also interesting to see what the world thinks of our housing market. The Economist published this piece about Canadian real estate:

Please see our recommended reading, below, for more thoughts on that from our Scotia analysts.



Recommended Investment List

ScotiaMcLeod's recommended fund listing is an extensive document outlining the firm's best investment ideas:

And here is our Global Portfolio Advisory Group's mid-year update on their recommended list performance:

The Spiess McGlade team has our own subset of that listing, exclusively for our clients. See details here:

Please note that in the future we will be providing our recommended listing as a .pdf, eliminating the online performance tables we have provided for many years. Please let us know if this change impacts you or if you would like us to provide you with any customized reports.


Summer Movie Suggestion – Becoming Warren Buffett

The one movie that we would recommend watching this summer is on HBO/TMN GO. Becoming Warren Buffet tells the incredible story of the world's most successful investor. I particularly liked his morning breakfast ritual. It is a guilty pleasure of mine, as well!


Light Summer Reading – Retirement 20/20

Fidelity has updated their Retirement 20/20 report for 2018. It is full of interesting facts for those planning for retirement, or those already enjoying retirement. Some interesting facts; 28% of retirees still have a mortgage, 1/3 retirees do work at some point in retirement, and not surprisingly, those with a plan created by their advisor indicate being better prepared before and during retirement.

We would be pleased to update your financial plan and help answer any questions you may have. Contact us to set up a time.


Updated Fee Schedule & the Move to T+2 Settlement

ScotiaMcLeod's fee schedule has been updated as of June 30th and was included in client statements. Please note that RRSP and RRIF fees are increasing for the first time in a decade. However, these fees are waived for clients in our fee based programs such as our Managed Portfolio Program or Partnership Plus Program. See the updated fee schedule here:

Please contact us if you have questions about the fee structure on your account(s).

Please also not that on Sept 5th, 2017, ScotiaMcLeod and all other Canadian brokerage firms will be moving to T+2 transaction settlement - shortening securities settlement periods to two days from three currently. For more details, see the Canadian Capital Markets Association's description:


Team News - BBQ Photo

Our team held our annual family BBQ on a wonderfully sunny summer Saturday! Attached is the photo. We were pleased to have Claudia and Christina from our extended ScotiaMcLeod team attend and are always impressed by the growth of the children in attendance. We hope you have had some great summer events with colleagues, family and friends!


Recommended Link of the Month

Dynamic's Money Matters site is a great resource for learning about investments. We often refer to articles there when clients are looking for us to help their young (or not so young) children learn more about investing. It has an interactive blog feel that seems to resonate with millenials.



Contact Us

T.  416.863.RRSP (7777)
F.  416.863.7479

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