You’re probably aware that there have been many mortgage rule changes over the last several years, and you’re almost certainly affected whether you’re an existing homeowner or first-time buyer. These rules are designed to ensure a stable long-term housing market, and to make sure Canadians can handle their debt should rates begin to rise.Read More
The Bank of Canada announced today that it is holding the overnight rate steady, again citing escalating geopolitical and trade conflict risks, which are undermining the global expansion. The Bank also noted that in Canada, the response to the strict qualifying guidelines that went into effect January 1 slowed first quarter growth. The next rate-setting day is Wednesday, May 30.Read More
Our President, Peter Cishecki, and Associate Advisor, Ona Manning, conducted multiple interviews with Blake Price of TSN Radio exemplifying why too choose Everything Financial as your choice to handle all financial strategies and solutions.Read More
Ever wanted to know how to improve your credit score? Here are 5 crucial techniques that finance professionals recommend everyone should live by when trying to improve credit score.Read More
Every morning at 6:45am Peter can be heard on TSN 1040 with Bro Jake and Dave Pratt during his segment called “Business Update with Peter Cishecki”. Peter covers various business topics including issues that arise from his day to day interaction with new and existing clients.Read More
We are currently working on our website for the Everything Financial Annual Charity Golf Tournament which will be accessible through our EFG website and at www.efggolfclassic.com. The website will allow those wanting to attend as well as sponsors and donators to sign up and pay directly through the site using PayPal.Read More
More new mortgage rules come into effect January 1, which will make it trickier to negotiate a mortgage for many Canadians. But with a little expert advice, I can help ensure you have a happy new year that keeps you on the path to prosperity for the coming year and beyondRead More
TFSAs are an excellent way to deflect tax. The annual maximum contribution to a TFSA was $5,000 from 2009 – 2012 and increased to $10,000 for 2015; $5,500 for 2016 and beyond. The contribution room by 2017 is therefore $52,000 per person (over age 18).Read More
Everything Financial would like to welcome our newest members of the Everything Financial Team. Tami Romanchuk will be joining us as a Financial Advisor working out of our Victoria office and Ona Manning will be mentoring under Peter as an Associate Advisor at our Surrey location.Read More
This year was the first year that Everything Financial has been involved in the Guildford Toy Mountain Toy Drive. This year's Toy Mountain campaign collected more than 13,000 toys and nearly $63,000 in donations for Lower Mainland families in need.Read More
In the 1990s, Peter worked for a “big insurance” company, designing financial plans for clients before financial planning was a buzz word. But, at the height of his career making good money, he decided to pack it in to start his own business.
His mission was to build long-term financial plans to meet client goals – something he didn’t feel he could fulfill under the umbrella of a big financial services firm. In 1996, he started his own company which has since grown through referrals and some smart business moves.
Peter wanted to spend more time with his clients creating custom financial plans. If he could save time on the portfolio management and administrative side of the business, Peter and his business partner knew that further growth would be achievable.
Passive investors don't recognize they are actually making active management decisions without understanding what they own.
David Trainer | Jul 11, 2017
Back in December 2013, we put “passive investors” in the Danger Zone for not recognizing that they are actually making active management decisions while skipping out on the due diligence of knowing what they own. We showed how it is practically impossible to make a “passive” choice given the sheer number of index fund options in almost every market segment. Moreover, there are wide holdings differences between funds that, according to their names, appear to be tracking the same thing. Judging by the continued flow of assets into passive index funds and ETFs, investors remain unfazed by these concerns.
Fund Flows...Read More
The Globe and Mail
Published Sunday, Jan. 08, 2017 4:12PM EST
Make it a goal in 2017 to try one new financial product from a company not associated with one of the big banks.
Try an alternative bank offering comparatively high interest rates on savings, or a credit union. Try a robo-adviser, where your investment portfolio is managed for you online at low cost. Try an independent financial-advice firm, or one of the non-bank online brokerage firms that scored well in my recent broker ranking.
Big banks are among this country’s strongest corporations, and they have some good people working for them in branches and head office. But the need to produce ever large profits...Read More
Calls for parliamentary inquiry following Go Public investigation
By Erica Johnson, CBC News
Posted: Mar 15, 2017 5:00 AM ET
Employees from each of Canada's five major banks say sales pressures are forcing them to use what they consider unethical practices on customers. (Dillon Hodgin/CBC)
Employees from all five of Canada's big banks have flooded Go Public with stories of how they feel pressured to upsell, trick and even lie to customers to meet unrealistic sales targets and keep their jobs.
The deluge is fuelling multiple calls for a parliamentary inquiry, even as the banks claim they're acting in customers' best interests.Read More
This article from July 2013 was recently brought to our attention by one of our team members. Not only does it resonate with us because it involves the loss of a loved one due to brain cancer, but it is something that we at Everything Financial take seriously with respect to our clients in-force policies. When the premiums on a policy are not paid, the insurance coverage that is in place is in jeopardy of lapsing and becoming void. Often this happens by accident when the insured changes bank accounts and forgets to update the carrier, or there are insufficient funds available in the account at the time of withdrawal. The Insurance Carrier will send out a letter to the insured letting them know that their policy is in jeopardy of lapsing and will inform them as to what needs to be done to ensure it remains in-force. Sometimes the...Read More
Some financial providers are doing the bare minimum to comply with new rules
by Mark Brown
February 8th, 2017
New disclosure rules promised to provide investors more clarity on performance, charges and fees, but some financial institutions have decided to provide only the minimum information required.
The new regulatory requirements are laid out in CRM2, the second phase of the Client Relationship Modeladopted by the Canadian Securities Administrators. Under these rules financial institutions must now provide investors with two new reports. These reports are separate from the portfolio statements investors already receive and view online. While portfolio...Read More
Mutual funds are very popular and with very good reason, they offer significantadvantages including but not limited to:
- Professional portfolio management
- Instant diversification
- Opportunity to invest in foreign and domestic markets
- Low minimum investments
Have you been withdrawing from your RRSPs to cover illness and disability expenses despite heavy government penalties on early withdrawals? You're not alone.
To protect themselves, many Canadians are turning to insurance - critical illness insurance, disability insurance, and long-term care (LTC) insurance.
Click here to read The Globe and Mail coverage on the trend and how insurance can make a big difference.Read More