Q3 2023 Preparing for Client Meetings (Advisor Dashboard)

Every fall, with the reopening of school classrooms, parents are reminded of the soaring costs of post-secondary education.

Your personalized Wealth Guide reports on a recent Ipsos poll that reveals an alarming surge in financial strain among current students. We encourage you to use this article as a conversation opener when discussing RESP investing with your clients and prospects.

It’s also a good time for a reminder that last day to make an RESP contribution for the 2023 tax year is December 31.

Here are some helpful resources to support your client meetings when these topics arise:

Your personalized website contains many other helpful articles on education planning that you can share with clients and prospects.

Visit the E-Learning Centre for more information.

Markets continue to be volatile with uncertainty around inflation and rising interest rates being of much concern.

As high interest rates drag on, it’s more important than ever to communicate with your clients about the current market environment

Globally, central banks are steadfast in the application of high interest rates to battle stubborn inflation. As a consequence, markets are volatile, and investors, naturally, are nervous.

But as history shows us, there are opportunities in every economic environment. Here are some ideas for how you can help your clients during these times of volatility:

  • Take advantage of high GIC Rates. Interest rates on a GIC have become much more attractive. As of June 30th, 2023 1-year rates were as high as 5.42%. Consider allocating a portion of your clients’ portfolios into a short-term GIC.
  • If you don’t want to lock up money for a year, consider parking it in a high interest-rate account or money-market fund.
  • Accuracy of client statements.
  • If you have a client who has a lump sum to invest but is nervous about the current market volatility, consider putting the funds into a money-market fund and then setting up a systematic switch into the fund(s) intended for longer term growth to allow for dollar-cost averaging (DCA). DCA is a great strategy for down markets.

After receiving their Q3 statements, your clients may have questions about their portfolios. Take charge by having frank conversations and offering options. This is exactly where your expertise and cool head becomes your value-add to the relationship. Your clients are looking for guidance, and it’s very important that you are their source, not the Internet or another competitor promising better returns.

Here are some additional resources you can share with your clients:.

The Value of Advice

Canadians with financial advisors are more confident  about their future.

Need Advice?

Are you reviewing your investment plan or financial plan for retirement? We encourage you to contact us to arrange a no-obligation meeting to discuss your options.

Need Advice?

Are you reviewing your education savings plan? We encourage you to contact us to arrange a no-obligation meeting to discuss your options.

Client Relationship Document

We’ve developed a plain-language document that describes the relationship between you and your GP Wealth Financial Advisor or Planner.