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Rothenberg Capital Management
February 16, 2022
5:44 pm
Dean
Valhalla Mountains, British Columbia
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I don't deal with them (yet), but my Parents do. Through their Rothenberg broker, they just got a 1 Yr. 'Wealth One Bank' GIC @ 2.41% ❗

Compare that with these ➡ https://www.highinterestsavings.ca/gic-rates/

Apparently my Parents have been getting great GIC rates through Rothenberg, for quite some time now.

Something to look into ➡ https://www.rothenberg.ca/

Thought I'd share,

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

February 16, 2022
5:51 pm
HermanH
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I think that all three brokers on the GIC chart page offer the same 1-yr 2.41%

February 16, 2022
6:03 pm
Dean
Valhalla Mountains, British Columbia
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HermanH said

I think that all three brokers on the GIC chart page offer the same 1-yr 2.41%  

Two out of three do ➡ https://www.highinterestsavings.ca/gic-rates/

I wonder if it's the same 'Wealth One Bank' GIC.

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

February 16, 2022
6:17 pm
HermanH
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If you click on all three to check their sites, each will offer 2.41%

It could be WealthOne, I check yesterday and it was eclipsed by HavenBridge, I think.

February 16, 2022
8:14 pm
Loonie
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Kevin ROTENBERG is founder of GICWealth. Maybe some guy, slightly different spelling?

February 17, 2022
9:07 am
Nehpets
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Loonie said
Kevin ROTENBERG is founder of GICWealth. Maybe some guy, slightly different spelling?  

I don't believe they are related, Loonie.

The founder of RCM was Jack Rothenberg, now retired as far as I know, succeeded by his son. I was a client from when they first started back in the 80's, when their service and rates were exceptional.

In the past ten years, their service and rates have both deteriorated until I finally dropped them last year.

I would not recommend Rothenberg Capital Management.

Stephen

February 17, 2022
10:09 am
Dean
Valhalla Mountains, British Columbia
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Stephen ⬆,

Maybe it's the office you dealt with. My parents have nothing but good things to say about Rothenberg Capital Management ... they deal with their 'Calgary' office.

So what brokerage do you deal with now, and would you recommend them ?

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

February 17, 2022
12:13 pm
Nehpets
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Dean said
.....
Maybe it's the office you dealt with. ....
So what brokerage do you deal with now, and would you recommend them ?

    Dean

  

Dean,

Head office in Montreal.

Most dealings now are DIY which have proven to be more successful.

Stephen

February 17, 2022
1:20 pm
Norman1
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It can also depend on the attitude on the broker one deals with.

Some deposit brokers also sell mutual funds and insurance products. The two are substantially more lucrative than GIC's.

Commission on a GIC is customarily ¼% per year of the GIC's term. Equity mutual funds have trailers of 1% per year. There is lots of incentive to upsell someone coming in for a GIC to mutual funds.

Some brokers aren't too keen when they are told one is only interested in the GIC.

February 17, 2022
2:31 pm
Loonie
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I have dealt with two deposit brokers over the years, Monarch and GICWealth. I've never experienced an iota of upselling from either, to the point that I didn't even know they sold anything else for quite some time.

February 17, 2022
7:26 pm
Norman1
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One deposit broker was not as restrained. I surprised him when I told him he was offering deferred sales charge units and that I don't invest in those. There are other dealers who sell the front-end load units with 0% load and no back-end load!

The self-serving "advice" was not surprising. I knew that he and his firm would be dividing up an upfront commission from the mutual fund company of around 4% if I had bought those deferred sale charge units.

February 18, 2022
2:46 am
RetirEd
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Norman1: How did you identify the Deferred Sales Charges?
RetirEd

RetirEd

February 18, 2022
8:34 am
Norman1
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RetirEd said
Norman1: How did you identify the Deferred Sales Charges?

I knew they were deferred sales charge units when he said I wouldn't have to pay any commissions if I held the mutual funds units for something like 7 years.

February 20, 2022
2:01 pm
RetirEd
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Thanks, Norman1. Interesting...
RetirEd

RetirEd

February 20, 2022
2:10 pm
Bill
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I think fund deferred sales charges, as well as trailing commissions, are gone everywhere in Canada by June 1 of this year.

February 20, 2022
5:18 pm
Norman1
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Starting June 1, 2022, mutual fund companies can no longer pay any upfront commissions to dealers. Only trailing commissions are allowed.

Starting new thread No new deferred sale charge mutual fund units starting June 1, 2022.

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