GIC Wealth Management Inc Special rates 1 Year 2.95% | GIC Discussions | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
GIC Wealth Management Inc Special rates 1 Year 2.95%
June 2, 2018
12:49 pm
miro
Member
Members
Forum Posts: 11
Member Since:
April 5, 2018
sp_UserOfflineSmall Offline

Just noticed 1 year GIC with Gic wealth management is 2.95%
Higher than oaken
Link

June 2, 2018
4:04 pm
Norman1
Member
Members
Forum Posts: 1811
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

Minimum $25,000.

The only institution offering anything near that is the 3% one-year GIC from Omni Direct.

Could be a special offer, through deposit brokers, from WFCU Credit Union, the institution behind Omnia Direct.

June 9, 2018
2:05 pm
dentgal
Member
Members
Forum Posts: 105
Member Since:
October 11, 2015
sp_UserOfflineSmall Offline

I believe that Home Trust/Oaken is 3% for 1 year.

June 9, 2018
2:30 pm
Top It Up
Member
Members
Forum Posts: 885
Member Since:
December 17, 2016
sp_UserOfflineSmall Offline

Oaken's website is showing 18-months @ 3.00%; 1-year @ 2.80%.

June 9, 2018
10:25 pm
GR
Member
Members
Forum Posts: 72
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

As I posted elsewhere on this site, PACE Credit Union is the FI offering 2.95% for 1 yr. and 3.25% for 2 yrs. only through some GIC agents in Toronto. Agent Monarch Wealth in Toronto does not have the high minimums that GIC Wealth Management has.

June 10, 2018
7:44 am
Nehpets
Ontario
Member
Members
Forum Posts: 345
Member Since:
December 20, 2016
sp_UserOfflineSmall Offline

GR said
....only through some GIC agents in Toronto. ......  

I believe the rate(s) is available through (some) brokers of the Registered Deposit Brokers Association, one of which (Scrivens) is located in Ottawa.

However the rate does not appear to be available through the network of brokers affiliated with GICDirect.com

It would be interesting and informative to better understand how these broker affiliations work and how they qualify for access to the various deals.

June 10, 2018
1:59 pm
Loonie
Member
Members
Forum Posts: 3961
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

In order to offer 2.95, woulldn't the FI have to be paying the broker 3.2 or close to it? It gives me pause to wonder who would be willing, and why. I think this offer won't last long.

I dealt with Monarch Wealth many years ago. Had no problems with them. They sent all necessary forms out promptly by courier at that time.

June 11, 2018
10:42 am
Nehpets
Ontario
Member
Members
Forum Posts: 345
Member Since:
December 20, 2016
sp_UserOfflineSmall Offline

Loonie said
In order to offer 2.95, wouldn't the FI have to be paying the broker 3.2 or close to it? ..... I think this offer won't last long.

Correct!! As of today, the 2.95% is history with GIC-WM

Top rate is 2.85% for minimum $25K deposit at GIC-WM
Scrivens now has a 2.75% top rate

June 20, 2018
11:07 am
hotmony
Member
Members
Forum Posts: 73
Member Since:
February 20, 2018
sp_UserOfflineSmall Offline

Monarch wealth they have a gic specialist in the big smoke. They have some names Gic wealth has dropped or doesn't care, for example, Airline, Auto Workers, Coast Cap., CU Atlantic, First Nations, Motor City smitty, Northern CU, Peace Hill, Tandia, Wealth1, Yncu, Zag..

Good to know in the current lull.

Please add other names and/or other gic brokers carry. Seems like Gic wealth and Monarch have the most comprehensive lists.

June 20, 2018
11:13 am
Loonie
Member
Members
Forum Posts: 3961
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Perhaps Monarch has changed its act.
I dealt with then for several years perhaps 30 years ago. They were fine to deal with but their rates became uncompetitive with what I could get on my own so I quit dealing with them a long time ago. If they are offering such great rates now, why are they so shy about advertising them? There is almost no information on their website. Who wants to have to phone them up all the time? As bad as dealing with Tangerine.

I subscribe to gicwealth's daily email offerings but I rarely get exceptional offers from them. They are very short-lived.

June 20, 2018
3:10 pm
GR
Member
Members
Forum Posts: 72
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

Loonie (and other members),

Monarch Wealth shows each morning on their website their best GIC rates available. A phone call will determine the issuers. View the link and scroll down to GIC Rates.
https://www.monarchwealth.ca/clients#gic

They have a better selection of financial institutions and don't have the same high minimum as GIC Wealth. They usually have promo rates only offered through a GIC agent. Monarch Wealth is very easy to work with, efficient and prompt. I have dealt with them for years.

June 20, 2018
4:02 pm
Loonie
Member
Members
Forum Posts: 3961
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

Thanks, GR. No wonder i couldn't find their list, as it's in an unlikely place.
Worth looking at for non-registered funds, for sure.
RIFs get the shortest end of the stick, as usual. I will be SO glad to get rid of those, but, in the meanwhile, am sticking with FIs that don't discriminate.

I have a real aversion to making phone calls. Why can't they make their offers online-friendly? If all I had to do was set up an account and then choose the GICs I wanted as they came up, they might have my business again.

June 20, 2018
7:32 pm
hotmony
Member
Members
Forum Posts: 73
Member Since:
February 20, 2018
sp_UserOfflineSmall Offline

What you got Loonie that we haven't seen before share?

June 21, 2018
2:21 am
Loonie
Member
Members
Forum Posts: 3961
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

hotmony said
What you got Loonie that we haven't seen before share?  

Why do you assume that people are hiding information?

After almost five years and almost 4000 posts, I've pretty much said whatever I have to contribute.
Some would suggest I've said too much! sf-laugh

Please write your comments in the forum.