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GIC Wealth Management Broker Rates
August 3, 2022
7:10 pm
HermanH
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Was just talking with Kevin Rotenberg and he said that he could do 5-yr 5.15% for 200K or more. So, there is some wiggle room (for larger balances.)

August 3, 2022
7:45 pm
Norman1
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HermanH said
Was just talking with Kevin Rotenberg and he said that he could do 5-yr 5.15% for 200K or more. So, there is some wiggle room (for larger balances.)

The customary deposit brokerage commission is ¼% for each year of the GIC.

The offered 0.05% improvement in yield is from assigning 0.05% of the 0.25% per year commission to the investor on $200,000+ purchases.

August 5, 2022
11:02 am
bigzim
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Maybe, but you can lock in 100K for both yourself and your spouse and get the 5.15% rate. Just did it today. That will compliment my ladder

November 10, 2022
6:28 am
gicjunkie
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New Rates Hit 5.30% For 5 Years:

1 year 5.20%*
18 month 5.08%***
2 year 5.15%*
30 month 5.10%***
3 year 5.21%*
4 year 5.21%*
5 year 5.30%*
* Minimum Investment $25,000
** Minimum Investment $50,000
*** Minimum Investment $75,000

November 17, 2022
6:58 am
hwyc
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1yr @ 5.31% today (was 5.22%)
...
5yr @ 5.47% today (was 5.37%)

... still momentum but for now long?

November 17, 2022
9:16 am
gicjunkie
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hwyc said
1yr @ 5.31% today (was 5.22%)
...
5yr @ 5.47% today (was 5.37%)

... still momentum but for now long?  

The CPI for October has confirmed that inflation is still high. This has also pretty much ensured that the BoC will raise the overnight lending rate again in December. These rate hikes are no doubt somewhat tied to these facts and projections. How long these increases continue is anyone's guess, but I would tend to go long term on any soon to be maturing investments. Never know when everything starts to reverse. Many FIs seem to be encouraging short term GICs based on the rates they are currently offering. To me it indicates that they think these higher rates will be short lived and they are loathe to enter into high long term rate contracts. Just my opinion.

November 21, 2022
3:18 pm
LeBronBMT
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5.48% for 5 years now. Does anyone know what FI is offering this? I suspect it could be DUCA which I hope it's not, since I already have a normal account at DUCA. Not sure of the complications of buying a GIC through a broker for a credit union I'm already a member of, and if that would even be allowed.

November 21, 2022
3:27 pm
Norman1
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DUCA is offering five-year GIC's at 5.47% for $25,000+ through Fiscal Agents.

Just 0.01% difference. So, it could be them.

November 21, 2022
4:22 pm
GR
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LeBronBMT said
5.48% for 5 years now. Does anyone know what FI is offering this? I suspect it could be DUCA which I hope it's not, since I already have a normal account at DUCA. Not sure of the complications of buying a GIC through a broker for a credit union I'm already a member of, and if that would even be allowed.  

Possibly Credit Union Atlantic??

November 21, 2022
5:20 pm
HermanH
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GR said Possibly Credit Union Atlantic??  

Yes

November 22, 2022
6:45 am
gicjunkie
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LeBronBMT said
5.48% for 5 years now. Does anyone know what FI is offering this? I suspect it could be DUCA which I hope it's not, since I already have a normal account at DUCA. Not sure of the complications of buying a GIC through a broker for a credit union I'm already a member of, and if that would even be allowed.  

I have made investments through brokers with credit unions that I already belong to. Not an issue.

November 22, 2022
8:00 am
gicjunkie
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Norman1 said
DUCA is offering five-year GIC's at 5.47% for $25,000+ through Fiscal Agents.

Just 0.01% difference. So, it could be them.  

GIC Wealth rates up again: 5.50% for 5 years

1 year 5.35%*
18 month 5.15%***
2 year 5.35%*
30 month 5.20%***
3 year 5.40%*
4 year 5.40%*
5 year 5.50%*
* Minimum Investment $25,000
** Minimum Investment $50,000
*** Minimum Investment $75,000

November 22, 2022
6:47 pm
COIN
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gicjunkie said

GIC Wealth rates up again: 5.50% for 5 years

1 year 5.35%*
18 month 5.15%***
2 year 5.35%*
30 month 5.20%***
3 year 5.40%*
4 year 5.40%*
5 year 5.50%*
* Minimum Investment $25,000
** Minimum Investment $50,000
*** Minimum Investment $75,000  

Who is offering these rates? Names please.

November 23, 2022
7:53 am
gicjunkie
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COIN said

Who is offering these rates? Names please.  

I don't bother companies to answer questions posed by other people. If I had the answer, I would have provided it. The resources are available. Knock yourself out.

https://gicwealth.ca/

November 23, 2022
8:24 am
COIN
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Fiscalagents name the institutions upfront.

November 23, 2022
8:49 am
Koogie
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gicjunkie said

I don't bother companies to answer questions posed by other people. If I had the answer, I would have provided it. The resources are available. Knock yourself out.

https://gicwealth.ca/  

Well said. People want everything spoon fed to them nowadays..

and thanks as always for the updates.

Cheers.

November 23, 2022
9:33 am
MattS
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someone else once had a link to collingwood financial centre deposit brokers on here & they also name institutions and sometimes varies from fiscal agent for those interested

November 23, 2022
10:04 am
COIN
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MattS said
someone else once had a link to collingwood financial centre deposit brokers on here & they also name institutions and sometimes varies from fiscal agent for those interested  

I suppose those who don't name names have their reason(s), just like those who do name names also have their reason(s). What are these reasons? I suppose not naming names generate more telephone calls.

December 13, 2022
2:11 am
LeBronBMT
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Recently signed up. Windsor Family Credit Union is the one offering the 5 year rate. Got a letter from GIC Wealth today asking me to sign a Client Consent form by request of Windsor Family Credit Union.

The attached letter just asks me to sign and return with the included envelope. The signature spot has been manually highlighted yellow with a sign here sticker put on top. There is a section just above asking me to tick off to consent to credit bureau checks from time to time and to receiving electronic communication. The rest of the form is just definitions and legal jumbo. Should I actually tick off those boxes or should I just sign as requested? I don't want to agree to casual credit checks.

December 13, 2022
2:36 pm
oltunde
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Not sure why for depositing GIC, they need credit check!!!

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