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April 24, 2020
7:59 am
krwilson
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Looks like Hubert is taking another shot at a short survey to improve things....maybe. Just completed it and it is short. Sent me an email this morning.

hubert.jpg

April 24, 2020
8:55 am
Dean
Slocan Valley, West Kootenays, British Columbia
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.
No offence meant, Krwilson ... but most of us here who have dealt with Hubert for a while (and their *&^%$# surveys), will tell you that you; "Just wasted your time".

At least it was a 'short' survey.

sf-cool " Live Long And Prosper " sf-cool

April 24, 2020
9:53 am
Doug
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Dean said
.
No offence meant, Krwilson ... but most of us here who have dealt with Hubert for a while (and their *&^%$# surveys), will tell you that you; "Just wasted your time".

At least it was a 'short' survey.  

Strongly disagree here, Dean. At least Hubert actually listens to their members, as opposed to Tangerine and its myriad surveys which have not implemented any of my and others' suggestions (other than free Interac e-Transfers, after years of delay and basically being forced into it by all their competitors offering it).

I noted from krwilson's screenshot that Hubert began quietly offering 1-year RRIF GICs. That's quiet, unassuming Hubert introducing a major feature request without any fanfare. I like that. They are now the top of the GIC rate comparison chart and tied for third place on the HISA chart. So, there's little they need to do on rates.

As such, here is how I answered each of the four questions, not including the last one which was the contest entry.

Figure 1: Question #1 from Hubert member feedback survey taken April 24, 2020

Figure 2: Question #2 from Hubert member feedback survey taken April 24, 2020

Figure 3: Question #3 from Hubert member feedback survey taken April 24, 2020

Cheers,
Doug

April 24, 2020
10:08 am
GICinvestor
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8A4C20AD-EA5A-4951-B4BD-70BDEF3A50E4.jpeg

So of the above what recent changes were from surveys (or from here) and what changes did they just implement for the sake of it?

I can only see one!

And if Hubert was going to do some horn tooting why wouldn’t they email all of us that currently have RRSP or RRIF accounts?

Seeing the one year RRIF creep into the system only further aggregates me.....to say it nicely.

Hubert.......give your head a shake.

April 24, 2020
10:37 am
Doug
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GICinvestor said
8A4C20AD-EA5A-4951-B4BD-70BDEF3A50E4.jpeg

So of the above what recent changes were from surveys (or from here) and what changes did they just implement for the sake of it?

I can only see one!

And if Hubert was going to do some horn tooting why wouldn’t they email all of us that currently have RRSP or RRIF accounts?

Seeing the one year RRIF creep into the system only further aggregates me.....to say it nicely.

Hubert.......give your head a shake.  

- Nicknamed accounts implemented via Hubert GO.
- "Auto transactions" - not sure what they mean by this.
- "Postdate transactions" - I haven't confirmed this was implemented, but it's good. Surprised this wasn't already included.
- "1-year RRIF terms" appears to only be implemented in Hubert GO, which makes sense, and further suggests the old platform will be sunset later this year (probably by summer).
- Self-serve password resets were implemented via Hubert GO.

I suspect they didn't say anything because they don't have a Hubert-specific social media channel, which they should. You have to remember that Hubert is just a deposit gathering channel. They make virtually no revenue off of Hubert members, other than occasional one-time service fees and commissions on Hubert MasterCard sales and Manitoba residents who applied for mortgages through Hubert (suspect it's only a few handfuls of members, at best). Hubert represents ~5-7.5% (or less) of Sunova's ~$2.2 billion in deposits. So there really isn't a focus on Hubert.

Cheers,
Doug

April 24, 2020
2:20 pm
Loonie
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Nice to hear Hubert may finally be offering a one-year RIF, however poorly communicated.
It's a bit late for me as I lack confidence in the MB economy right now and have been puling back, but good to know.

They didn't ask my opinion this time.

April 24, 2020
6:37 pm
Briguy
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Loonie said
Nice to hear Hubert may finally be offering a one-year RIF, however poorly communicated.
It's a bit late for me as I lack confidence in the MB economy right now and have been puling back, but good to know.

They didn't ask my opinion this time.  

Weren't you consolidating your funds in Ontario to lessen the burden on your trustee when you pass away at some date far in the future? ie. no out of province probate issues?

I'm nearing retirement age but trust Hubert to accept Ontario probate as they assured some members here that they do.

April 24, 2020
6:53 pm
Doug
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Briguy said

Weren't you consolidating your funds in Ontario to lessen the burden on your trustee when you pass away at some date far in the future? ie. no out of province probate issues?

I'm nearing retirement age but trust Hubert to accept Ontario probate as they assured some members here that they do.  

@Briguy, you're not even 60 yet. Unless you don't expect to live past age 75, I strongly urge you to work until at least 65. One does not anticipate the pitfalls of retirement (i.e., boredom, monotony, etc.). My maternal grandpa, who just turned 81, says that's one of his biggest regrets retiring between 55-60. If he'd have known he would've had 15-20 years (or more) in retirement, he would've worked until 65-70. (He was the machinist in charge of the machine shop at the University of Alberta, and has a good pension that allowed him to retire early, but he still would've worked past the age on which he was eligible to take it.) sf-cool

Cheers,
Doug

April 24, 2020
7:04 pm
Briguy
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Doug said

@Briguy, you're not even 60 yet. Unless you don't expect to live past age 75, I strongly urge you to work until at least 65. One does not anticipate the pitfalls of retirement (i.e., boredom, monotony, etc.). My maternal grandpa, who just turned 81, says that's one of his biggest regrets retiring between 55-60. If he'd have known he would've had 15-20 years (or more) in retirement, he would've worked until 65-70. (He was the machinist in charge of the machine shop at the University of Alberta, and has a good pension that allowed him to retire early, but he still would've worked past the age on which he was eligible to take it.) sf-cool

Cheers,
Doug  

My plan is to retire in the next few years, but go to back work on a casual basis, hopefully doing a bit of travelling as well. Right now I own a blind bull dog on 3 times a day eye drops for glaucoma, and who eats raw dog food, so I can't travel much anyways. She's worth it, though.
IMG-20170618-WA0001.jpg

April 24, 2020
7:52 pm
Rick
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Doug said

@Briguy, you're not even 60 yet. Unless you don't expect to live past age 75, I strongly urge you to work until at least 65. One does not anticipate the pitfalls of retirement (i.e., boredom, monotony, etc.). My maternal grandpa, who just turned 81, says that's one of his biggest regrets retiring between 55-60. If he'd have known he would've had 15-20 years (or more) in retirement, he would've worked until 65-70. (He was the machinist in charge of the machine shop at the University of Alberta, and has a good pension that allowed him to retire early, but he still would've worked past the age on which he was eligible to take it.) sf-cool

Cheers,
Doug  

I was pretty much forced to retire a couple years ago due to injury. I couldn't go back to that job if I wanted to. Doesn't mean I can't do something else that doesn't require the physical exertion. Yeah...don't make the big money...but that's not the point. Just need to occupy some time, get out of the house and if you can make a few bux....all the better. The BEST thing about a McJob, is if your boss, your hours, the conditions, or any reason at all, is not to your liking, you can literally tell them where to stuff their job. Not like you NEED the income. If your grandpa wants to work, there are plenty of opportunities out there....just have to realign your paradigms and not expect big money or security, but occupy time doing somehting you enjoy....maybe get a perk or two out of the deal. Working until you are 75 would/should be a last resort. If it were up to me, everyone should be forced to quit after 30 years at the same job. Not necessarily to retire, just move elsewhere and open up an opportunity for the younger workers to take over in a good paying, secure job. Unfortunately, far too many people that never planned for retirement or had a life changing event, are forced to literally work until they drop.

April 24, 2020
9:33 pm
GoJetsGo
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Doug, you spew a lot of long winded bs on this website..."I know this rate is going to that"..."I told you this was going to happen, look here, I'll show you the link" (the 50% of the time that you're right).

But to strongly urge someone to not retire because your grandpa is bored is just asinine. I sold my business and retired under 40, and couldn't be happier with my decision. I've seen all sides of the coin from people retiring in their early 50's and being as happy as a pig in shit to my watching people die in their late 50's never having enjoyed a non-working life.

It's a personal decision that I hope everyone gets to a financial position to be able to make.

I suggest you back off your high horse of strongly urging anything.

April 25, 2020
7:22 am
Briguy
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I just wish I was in a financial position to retire, I'd do so today......

WE better stop discussing retirement before Peter, with his heavy hand, locks the thread LOL

April 25, 2020
7:31 am
BillieBob
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Peter heavy-handed? He administrates this forum very well.

April 25, 2020
8:49 am
Briguy
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BillieBob said
Peter heavy-handed? He administrates this forum very well.  

He does, but doesn't allow much veering off topic.

April 25, 2020
9:03 am
BillieBob
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Briguy said

He does, but doesn't allow much veering off topic.  

And that's what makes him an excellent admin.

April 25, 2020
9:10 am
Briguy
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BillieBob said

And that's what makes him an excellent admin.  

Peter, you have a fanboy !!!!

April 25, 2020
11:30 pm
Loonie
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Briguy said

Weren't you consolidating your funds in Ontario to lessen the burden on your trustee when you pass away at some date far in the future? ie. no out of province probate issues?

 

Yes, but registered plans can bypass probate, and so can joint accounts.
I haven't entirely left Hubert but have much reduced my deposits.

I'm finding it difficult to keep all our money in Ontario, so am trying to use joint accounts where possible for out-of-province. I don't care so much about what happens after the last of us dies. But I would still prefer to stay in Ontario as much as reasonably possible, given available rates and insurance limits.

I've recently had no end of hassles with a major Canadian bank over a POA, so I am very wary at this point. Skeptic though I am, I never imagined they would make it next to impossible to do what the person wanted.

April 26, 2020
8:13 am
Briguy
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Loonie said

Briguy said

Weren't you consolidating your funds in Ontario to lessen the burden on your trustee when you pass away at some date far in the future? ie. no out of province probate issues?

 

Yes, but registered plans can bypass probate, and so can joint accounts.
I haven't entirely left Hubert but have much reduced my deposits.

I'm finding it difficult to keep all our money in Ontario, so am trying to use joint accounts where possible for out-of-province. I don't care so much about what happens after the last of us dies. But I would still prefer to stay in Ontario as much as reasonably possible, given available rates and insurance limits.

I've recently had no end of hassles with a major Canadian bank over a POA, so I am very wary at this point. Skeptic though I am, I never imagined they would make it next to impossible to do what the person wanted.  

I recently had an issue with CIBC, who wouldn't allow another family member and myself to both have POA on my mother's account. It was unresolvable.

I would have thought you would have stuck with Hubert now that they have one year GIC in their RRIF . My entire RRSP is with Hubert, except for a small amount with Saskatchewan Pension Plan. I value the simplicity of having all my RRSP in one FI. I plan to eventually convert my RRSP at SPP to an annuity.

April 26, 2020
2:38 pm
Briguy
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GoJetsGo said
Doug, you spew a lot of long winded bs on this website..."I know this rate is going to that"..."I told you this was going to happen, look here, I'll show you the link" (the 50% of the time that you're right).

But to strongly urge someone to not retire because your grandpa is bored is just asinine. I sold my business and retired under 40, and couldn't be happier with my decision. I've seen all sides of the coin from people retiring in their early 50's and being as happy as a pig in shit to my watching people die in their late 50's never having enjoyed a non-working life.

It's a personal decision that I hope everyone gets to a financial position to be able to make.

I suggest you back off your high horse of strongly urging anything.  

I enjoy Doug's "strongly urging" - I'm going to do whatever I think is best, but it's entertaining reading. Keep up the good work, @Doug

April 26, 2020
8:26 pm
Loonie
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Briguy said

I recently had an issue with CIBC, who wouldn't allow another family member and myself to both have POA on my mother's account. It was unresolvable.

I would have thought you would have stuck with Hubert now that they have one year GIC in their RRIF . My entire RRSP is with Hubert, except for a small amount with Saskatchewan Pension Plan. I value the simplicity of having all my RRSP in one FI. I plan to eventually convert my RRSP at SPP to an annuity.  

My POA problem is different and is at another bank, but your experience plus mine indicate that the Big Banks (at least) are becoming much more difficult to deal with on this. This is another reason I am moving to joint accounts where possible. Even the lawyer I consulted is personally having a problem with this bank on a similar issue. From what I an see, these policy changes are relatively recent and don't bode well for our futures.

Hubert does offer unlimited insurance, which makes it easier to keep all RSP/RIFs at one place. But, from my perspective, that is the main advantage and not sufficient to outweigh my other concerns. I've managed, by aggressive withdrawals, to reduce my RIF substantially, so it is less of an issue now and requires a much shorter list of FIs to be involved. Also, we can get 250K insurance from Ontario CUs, which covers quite a bit.
I spoke to my rep at one of my Ontario CUs about POAs and felt more confident that their pollicies would allow us to have our wishes honoured - at least under current policies. Too bad my relative didn't know this would be an issue.

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