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GIC Wealth Management Broker Rates
July 6, 2021
12:14 pm
hwyc
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Another baby step up at GICwealth.ca

3 yr 2.15%; 4 yr 2.25%; 5 yr 2.30%

... these rates beats the highest currently seen on our GIC rates comparison chart

July 7, 2021
7:29 am
Bud
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Names of FIs offering?

July 10, 2021
4:51 pm
gicjunkie
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Bud said
Names of FIs offering?  

I have been told that the 5 year rate of 2.30% is with Haventree Bank (CDIC insured) https://www.haventreebank.com/en/
Don't know about the others.

August 11, 2021
8:17 am
hwyc
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Notable GIC rates observed

3 yr 2.25%; 4 yr 2.35%; 5 yr 2.45%

  

I believe 2.45% is the known current high since Tandia's retreat

August 12, 2021
11:17 am
gicjunkie
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New Higher Rates From GIC Wealth website: https://gicwealth.ca/

1 year 1.40%
18 month 1.50%*
2 year 1.80%*
30 month 2.00%*
3 year 2.50%*
4 year 2.60%*
5 year 2.45%*

$25,000 minimums

September 1, 2021
2:22 pm
savemoresaveoften
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GIC Wealth courier picked up the cheque last week, cheque withdrew from my account 1 week later. I received the GIC confirmation from GIC Wealth in the mail the GIC started on the same date the courier picked up the cheque ! This is excellent service as I thought I would be a losing a few days of interest but aint.

Question to current GIC Wealth customers, the confirmation I received is from GIC Wealth and not the actual issuer. Will I receive a physical GIC cert that is from the actual issuer ? I assume I will but will take 1 week or so but it will be mailed in the snail mail ?

Overall, I am very happy with the level of service and will send more money their way.

September 1, 2021
3:38 pm
Loonie
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I'm glad to hear it worked out well for you.
Whether or not you get a GIC cert from the issuer is up to the issuer. Some do; some don't. In my experience, most don't - including the one I bought through GICWealth. However, there is nothing to prevent you contacting the issuer directly with any questions you may have about your GIC.

September 2, 2021
4:55 am
savemoresaveoften
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Thanks Loonie.
I will call the issuer next week and see what they see on their end in terms of annual interest payment instructions etc.

September 3, 2021
6:10 am
Loonie
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The five year rate at GICWealth has been reduced to 2.3, minimum 25K.

September 3, 2021
10:05 am
gicjunkie
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Loonie said
The five year rate at GICWealth has been reduced to 2.3, minimum 25K.  

But, at least the 3 and 4 year rates are still at 2.5% and 2.6%, for now.

September 8, 2021
11:18 am
savemoresaveoften
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Loonie said
I'm glad to hear it worked out well for you.
Whether or not you get a GIC cert from the issuer is up to the issuer. Some do; some don't. In my experience, most don't - including the one I bought through GICWealth. However, there is nothing to prevent you contacting the issuer directly with any questions you may have about your GIC.  

Called the issuer (Equity credit union) and the rep said I have to call the broker for any questions etc. wont take any questions at all...Not sure if that is Equity's standard protocol or the individual....

September 8, 2021
2:19 pm
savemoresaveoften
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savemoresaveoften said

Called the issuer (Equity credit union) and the rep said I have to call the broker for any questions etc. wont take any questions at all...Not sure if that is Equity's standard protocol or the individual....  

Broker replied back promptly and says it will take 2-3 weeks for issuer to generate the paper cert and then snail mail it out. In the digital age, it will be much easier and make economic sense if the issuer generate a electronic one and just provide a secure download feature.

September 8, 2021
2:20 pm
Loonie
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No, it's not Equity standard protocol - for members, at least. It may be that she doesn't have direct access to this information and that her job is defined as speaking to members.
I wouldn't worry though - and I am pretty good at finding things to worry about! LOL

Equity does usually send out a statement regarding the GIC purchase where members are concerned, but I have found them inconsistent on this.

October 4, 2021
12:36 pm
Loonie
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GICWealth is now offering 2.55 for five years per email today. I don't know who the issuer is.

October 4, 2021
1:31 pm
Norman1
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Questions should be to the deposit broker first.

One is considered to be the client of the deposit broker and not of the GIC issuer when one purchases through a deposit broker.

Part of the selling commission paid to the deposit broker is supposed to fund "after sales" service. That way the issuer doesn't need to hire more staff to answer routine questions.

October 4, 2021
2:51 pm
Loonie
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Maybe; but some issuers will answer questions. In my opinion, it's good business for them to answer questions, and they should expect to receive some - especially from those who've never dealt with a deposit broker before. It's reasonable to expect confirmation from the issuer.

October 5, 2021
10:36 am
gicjunkie
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Loonie said
GICWealth is now offering 2.55 for five years per email today. I don't know who the issuer is.  

I don't know for sure, but if it's the same FI as for Monarch's 5 years at 2.55%, it's Wealth One Bank.

October 5, 2021
12:46 pm
Norman1
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The rate now appears on their site as well:

1 year 2 year 3 year 4 year 5 year
1.45%* 1.85%* 2.50%* 2.60%* 2.55%*
* Minimum Investment $25,000
October 5, 2021
1:00 pm
canadian.100
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Norman1 said
The rate now appears on their site as well:

1 year 2 year 3 year 4 year 5 year
1.45%* 1.85%* 2.50%* 2.60%* 2.55%*
* Minimum Investment $25,000

  

I actually hope that GIC rates stay at these low levels for the next few years - it sure makes investing in blue chip high dividend stocks/etfs my preference as part of a diversified portfolio. Once 2 year terms rise to 3% then I will rebalance. I have no interest in freezing my money for 5 year terms @ 2.55%.

October 5, 2021
1:03 pm
savemoresaveoften
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canadian.100 said

I actually hope that GIC rates stay at these low levels for the next few years - it sure makes investing in blue chip high dividend stocks/etfs my preference as part of a diversified portfolio. Once 2 year terms rise to 3% then I will rebalance. I have no interest in freezing my money for 5 year terms @ 2.55%.  

it will take a very long time for 2y rate to reach 3%. Think 3yr+

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