PURCHASING GICs
Did you know you can purchase GICs from Jefferson|Steele Wealth Management?
Over the past year or so we have many good discussions with clients who had not realized we could buy GICs on their behalf. We thought it would be timely to remind clients of a couple reasons to talk to us about GIC investing:
- We are able to access from twenty different Canadian banks and Credit Unions.
- GICs purchased via Jefferson|Steele Wealth Management are covered by Canada Deposit Insurance Corporation (CDIC), up to $100,000 per account.
- In the case of GICs issued by BC Credit Unions for BC residents, the Government of BC makes this guarantee unlimited.
- We offer terms up to 5 years. Including 30 day and 90 day cashable GICs
- Rates vary dramatically between offering institutions from day to day.
- Comparing the 5 year GIC rates offered by the big banks (Royal, CIBC, BMO, BNS, National, TD and Laurentian), they range from 1.10% per year on the low end to 2.01% on the high end.*
- A comparison of several bank’s websites will often show we are able to access better rates than posted on the website. As an example, one bank’s current 5 year posted rate on their website is 1.50% while they are offering a rate of 2.01% to our clients.*
- We are able to comparison shop to find you the best rate.
- For amounts over $1,000,000 we can often get a further 0.05% to 0.10% increase in the posted interest rate, depending on the institution
So if you have GICs coming due and would like to talk with us about next steps, just give us a call and we will be happy to provide further details.
*as of Wednesday February 15, 2017.
Source: Bank websites and GMP Securities
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Dwight Jefferson, CIMA®
Senior Vice President
Portfolio Manager
Tel.: 604.640.0555 • Email
Tyler Steele, CFA
Senior Vice President
Portfolio Manager
Tel.: 604.640.0554 • Email
Paul Rietkerk, CIM, FMA
Portfolio Manager
Tel.: 604.640.0562 • Email
Neil Kumar, CIM®
Portfolio Manager
Tel.: 604.640.0406 • Email
Wendy Lloyd
Associate
Tel.: 604.640.0556 • Email
Jessica Dewey
Associate
Tel.: 604.640.0405 • Email
Brenda Geib, BA
Associate
Tel.: 604.640.0559 • Email
Richardson GMP Limited
500 – 550 Burrard Street
Vancouver, BC V6C 2B5
Toll Free: 1.866.640.0400
Fax: 604.640.0300
www.JeffersonSteele.ca
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