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Email this12:55 pm
January 9, 2011
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Does anyone have an idea why I can buy their GIC through my direct investment broker's account and get 3.53%, when buying the same thing direct from People's only pays 2.9% (according to the GIC rates comparison chart here)? Isn't that backwards from the norm, or maybe the comparison chart here isn't up to date?
I found this out by mistake, because of following the discussion thread about Oaken and Fairstone which got me looking around (another example of how great this forum can be!).
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
5:33 pm
January 12, 2019
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" Live Long, Healthy ... And Prosper! "
5:48 pm
January 9, 2011
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Dean said
.
The GIC Chart here is up-to-date.
Thought it would be. So, very interesting about my upcoming GIC expiry, likely cancelling it in order to transfer funds into Investors Edge where Peoples probably pays a commission to Investors Edge, and then.....buy a People's GIC at a higher rate!
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
6:29 am
December 20, 2016
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dougjp said
Does anyone have an idea why I can buy their GIC through my direct investment broker's account and get 3.53%, when buying the same thing direct from People's only pays 2.9% .....
Not unusual at all, in fact very common. FI's engage brokers to sell their GIC's in order not to have to do the administrative work in direct dealing with the investor, especially for small amounts. It's worth paying a higher rate through brokers and not have to do the admin work.
Also brokers often have flash one day deals when a FI needs a limited investment input.
A good reason to establish a working relationship with a good GIC broker.
Stephen
