Does your financial life need a spring cleaning?
It’s quite easy to end up with investments in different places. You might have joined a group Registered Retirement Savings Plan (RRSP) through an employer. Or opened a Registered Education Savings Plan (RESP) or Tax-Free Savings Account (TFSA) at your bank. It could be any investment from any source, whether a Guaranteed Investment Certificate (GIC) or stocks.
This is where spring cleaning enters the picture. It’s difficult to make investments work together when they’re scattered in different places. You may want to clean up by putting them all under one roof.
The consolidation solution
When you consolidate all your investments with one financial services provider, you benefit in a variety of ways. First, it’s often discovered that certain assets are duplicated, which increases investment risk. So changes are implemented to make your portfolio fully diversified – minimizing risk, maximizing potential returns, and smoothing out performance.
In making these changes, assets may also be re-allocated among registered and non-registered accounts to make your investments more tax-efficient. Another possible tax advantage is having fewer tax slips to manage when filing your return.
Investments at a glance
With scattered investments, trying to monitor everything is frustrating. But when you have a consolidated statement, viewing your investments is clear and easy – and you save time. It’s also a more efficient way for us to help you. We can ensure your investments are aligned with your goals and recommend changes as your needs evolve. Let us know if you have registered plans or other investments in different financial institutions. We can tell you about the consolidation process and determine if it makes financial sense for your situation.