Investment Management

Our team believes that a key determinant to successful investing is the mix of types of assets - cash, stock, and bonds in our clients’ portfolios. By modifying the mix of assets according to recommendations from BMO Nesbitt Burns’ Research Department, investors have the opportunity to improve their portfolio returns while keeping risk at an acceptable level. Working closely with our clients, we will also recommend changes to a portfolio mix should personal circumstances change.

For sizable investment portfolios, managed portfolio products may be the best way to realize the goals individuals or organizations would like to achieve. Working closely with our clients, we will formulate a customized investment strategy designed to move toward these goals without the worry of day-to-day portfolio management.

Feel free to reach out to Rob Caracciolo or Chris Kemper for more information.
 

Retirement Savings Plan (RRSP)

If saving for retirement is a primary focus, a solid investment plan can make the difference between a comfortable retirement and one that is inadequately financed. Drawing on BMO Nesbitt Burns’ extensive in-house resources, we can help our clients establish the program that achieves the most from a Registered Retirement Savings Plan or Registered Retirement Income Fund.

Working with the BMO Nesbitt Burns sophisticated planning software program, we are able to provide clients with a customized easy to understand road map in which to achieve their retirement income goals. While no one can predict the future, this program can help make it clearer, allowing you to evaluate the impact of inflation and taxes on your retirement income, the impact of losing the government pension plans, or how much money you will need to save to reach your goal. Most importantly, you will have the information necessary today to allow you to chart your course to financial success.
Registered Retirement Savings Plan (RRSP) - Canada.ca
 

Tax-Free Savings Account (TFSA)

The Tax-Free Savings Account (TFSA) is a savings plan that allows Canadians to invest and earn tax-free returns. Any income (interest, dividends, and capital gains) earned is tax-free.
The Tax-Free Savings Account - Canada.ca

 

First Home Savings Account (FHSA)

Allows first-time home buyers to contribute up to $40,000 toward saving for their first home on a tax-free basis.

Who can have one?

  • Individual who is at least 18, and a resident of Canada
  • First-time home buyer: cannot have lived in home that was owned, either solely or jointly, with a spouse or common law partner in the current calendar year, or prior 4 years (currently from 2019 to 2023)

How does it work?

  • Annual contribution limit of $8,000, with a lifetime contribution limit of $40,000
  • Contributions can be carried forward, carry forward amounts only start accumulating after a FHSA is opened
  • Individuals are able to claim an income tax deduction for contributions made in a taxation year, and the deduction can be carried forward if not used in that taxation year
  • Any income, losses and gains in respect of investments held within the account, as well as qualifying withdrawals would not be included in computing income for tax purposes
  • Withdrawals can be made tax free if it is a qualifying withdrawal
  • FHSA matures and must be closed upon the 15th anniversary
  • Funds not used can be transferred to an RSP
  • Can have more than one account but total contributions can’t exceed the annual or lifetime limits, taxpayers are responsible for keeping track of their contribution limit

First Home Savings Account (FHSA) - Canada.ca

 

What’s the difference?

 

RSP

TFSA

FHSA

Contribution limit

Changes annually, 18% of income or $30,780 (2023), no lifetime limit

$6,500, no lifetime limit

$8,000, lifetime limit of $40,000

Income tax deduction?

Yes

No

Yes

Withdrawals taxed?

Yes if regular withdrawal, No if done under the HBP (limit of $35,000)

No

No, not if they qualify

Required to be paid back?

Yes, under HBP must be paid back over a maximum of 15 years

No, any amounts withdrawn can be re-contributed in the following calendar year

No, account must be closed in the calendar year the withdrawal is done. Account must be closed upon the 15th anniversary