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August 14, 2022
3:24 pm
HermanH
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savemoresaveoften said
But the time it reaches 7-8%, you will say too low and need 10%,

That might be a reasonable expectation, if the rate continued to increase steadily and dramatically with no plateau in sight.

August 14, 2022
4:50 pm
savemoresaveoften
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HermanH said

savemoresaveoften said
But the time it reaches 7-8%, you will say too low and need 10%,

That might be a reasonable expectation, if the rate continued to increase steadily and dramatically with no plateau in sight.  

Poor investment decision are usually the result of ‘moving’ target, be it stock price or rates or anything. ‘Moving’ target demonstrates either greed, or simply don’t know what is going on. It’s like the guy who always say he misses buying at all cuz he thinks it’s moving lower…

August 21, 2022
6:53 pm
AllanB
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Poor investment decision are usually the result of ‘moving’ target, be it stock price or rates or anything. ‘Moving’ target demonstrates either greed, or simply don’t know what is going on. It’s like the guy who always say he misses buying at all cuz he thinks it’s moving lower…  

Tell that to Gic investors who locked in for 5yrs@2%

Buffet trades all the time. Of course they want you to buy indiscriminately and never sell while they are dumping billions of inflated stock every trading day. With Gics and mortgages when they expect higher or lower rates they want you to lock in ahead.

Nobody expected government to turn a blind eye

August 24, 2022
4:57 pm
COIN
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Two questions:

1) Do these GIC brokers ever answer their phones?

2) Do these GIC brokers ever call back?

August 24, 2022
5:09 pm
mordko
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COIN said
Two questions:

1) Do these GIC brokers ever answer their phones?

2) Do these GIC brokers ever call back?  

1. Yes. 2. Yes. I used GIC wealth. Kevin Rotenberg answers either phone or calls back.

August 24, 2022
8:33 pm
HermanH
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I have enjoyed my experience with Rotenberg, thus far. I even accidentally woke him in the middle of the night, while trying to leave a message. As good a response rate/time as Hubert.

August 25, 2022
6:57 am
savemoresaveoften
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Got a couple of GIC from GIC wealth last year. First interest payment is due today. I have them EMT to my checking account and it is flawless ! Money showed up this morning right the way.
For principal maturity, that can only be done via post dated check only.

August 25, 2022
2:22 pm
COIN
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If it's not a problem, what is Kevin Rotenberg's telephone/email?

August 25, 2022
3:05 pm
HermanH
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1-866-228-9442 ext 373
kevin@gicwealth.ca

Tell him I sent you. sf-wink

August 25, 2022
5:49 pm
COIN
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HermanH said
1-866-228-9442 ext 373
kevin@gicwealth.ca

Tell him I sent you. sf-wink  

Thanks.

If Kevin asks who gave the reference, I'll simply say an "Internet Friend".

August 26, 2022
7:06 am
Rhino
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Monarch Wealth: able to open account over the phone; Docusign for forms; email for ID's; and funding through authorized one time Direct Deposit. Also, able to match any other "better" rate and term. WIN WIN WIN sf-cool

August 26, 2022
10:31 am
HermanH
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I considered Monarch, but they seemed to lag behind GIC Wealth. For example, both had a 5-yr 5.25%, but Monarch no longer has it. I wonder if they can 'match', the Wealth offer.

Edit: I just called Monarch. They will try to match 5-yr 5.25% via EquityCU, but no guarantees. Also, only HomeTrust and Equity will allow direct debit transaction for GIC purchases. Purchases for GICs from other institutions must still submit a cheque.

October 11, 2022
7:09 pm
savemoresaveoften
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Noticed in the last couple weeks, the 1-3 years rates from the GIC brokers are lackluster and direct offering from selected names are quite a bit better.
Something is going on....

If I have to ask a broker to match a rate, I wont bother to go with the broker to begin with, as I dont see any benefit going thru a broker to get the same rate...

October 12, 2022
7:47 am
mustang
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Yes, agreed, SMSO
I have also puzzled at the broker rates lagging behind fi's, and even dropping a bit.
No doubt a good reason, buy well beyond my knowledge
I just locked in with TANGERINE for 1 yr, 4.7, thinking I should grab it while available, concerned that they might pull it

October 12, 2022
12:58 pm
Loonie
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Deposit broker rates have never been consistently highest. The last year or so has been an exception.
What they do offer is rates that are generally higher than or as high as most and a wider variety of issuers to choose from plus one stop shopping.

October 12, 2022
2:58 pm
canadian.100
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Loonie said
Deposit broker rates have never been consistently highest. The last year or so has been an exception.
What they do offer is rates that are generally higher than or as high as most and a wider variety of issuers to choose from plus one stop shopping.  

Also, you should have mentioned that Deposit Brokers have some fairly high "minimum purchase" amounts - if you look at GIC Wealth Mgt - there are minimums of $25,000, $50,000 and $75,000 presently to get their best rates - which are not better than say Tangerine's 4.7% One Year, or Peoples 4.8% One Year and the minimum is only (I believe) $1,000 in both cases. GIC Wealth highest One Year today is 4.47% and the minimum purchase is $25,000.

October 12, 2022
11:13 pm
Loonie
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High minimums will affect some people. Personally, I don't buy GICs less than 25K anyway except very occasionally for a one year TFSA contribution - which I don't expect to be doing again. GICWealth has actually recently lowered its highest minimum from 100K to 75K.

That said, GICWealth has the highest minimums I know of. Other deposit brokers definitely have much lower ones, as you know.

October 13, 2022
5:27 am
dommm
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Loonie said
High minimums will affect some people. Personally, I don't buy GICs less than 25K anyway except very occasionally for a one year TFSA contribution - which I don't expect to be doing again. GICWealth has actually recently lowered its highest minimum from 100K to 75K.

That said, GICWealth has the highest minimums I know of. Other deposit brokers definitely have much lower ones, as you know.  

Not in my case. I bought a 5yr GIC through GIC Wealth Management for 40k recently.

October 13, 2022
6:11 am
savemoresaveoften
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dommm said

Not in my case. I bought a 5yr GIC through GIC Wealth Management for 40k recently.  

Their min threshold can vary weekly depends on who is offering the best rates.

I believe to them, anything less than $25k per transaction is NOT worth the effort for the paper work and such.

November 8, 2022
11:25 am
HermanH
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Anyone interested in 5-yr GIC for 5.25% can get one through Monarch Wealth broker. I just called them and there is an Ontario-only CU offering it, but also Caisse-Populaire (Canada-wide) is offering to match all 3-, 4-, 5-yr GIC rates.

This is mighty tempting to me. I have a bunch already stashed for this rate and term.

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