January 2019 

Happy New Year! 

Happy Anniversary.  January 2019 is my 20th year with Assante.  Its also the 20th year, I've worked with some of you. Thank you for that privilege.  What is forecast for 2019?
  • More attention on Global growth, as it continues to slow. 
  • More attention on the newest large influences, China, and the Far East. 
  • Increased market volatility.  Managing this volatility, and finding opportunities in markets that are reacting quickly to any changes continues to be a challenge.
2018 was our most successful year we have had in terms of helping clients, and total assets managed.  We feel very honoured to have your trust.  Janice, Andrek and I will continue to work with each of you, and ensure both your short-term, and long-term objectives are being met.  We can't control the markets, but we can control how we manage them, and the influence on your long-term financial objectives. 
2018 also brought with it, lots of political headlines (which also provides some great material for late night television), great uncertainty with various leaders including the latest issue with China, market volatility increased considerably, and the leading market, the U.S. finally saw a pull back that had been anticipated for a while.  

What am I looking forward to in 2019:

* Better buying opportunities. With the recent market pull back, most stocks that we consider core holdings are now trading at good value.

*New opportunities for investments.  Changing rules are now bringing opportunities that were only offered to the Ultra-Wealthy to many other investors. Things such as private equity pools, targeted alternative investments. There are beneficial because they provide a compliment to the traditional equity, fixed income portfolio.  That means there are other income options available, and they don't react the same way the markets do.

*Identifying more ways to ensure you are on track for meeting your financial objectives.

*Working with you through the increased volatility  that has been experienced, and may continue. 
Take 5 minutes to assess your current financial health by answering a few questions about your spending, borrowing, saving and investing habits.   

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What's Happening:

Downsizing Done Right Workshop:

Join us for a Downsizing Seminar, where I share some real life numbers, and a Real Estate expert is sharing some tips about what to do, and where to go. This workshop will provide a gameplan to help you through the next transition.
Markham: Thursday February 7th, 9-1pm
Aurora: Wednesday February 20th, 9-1pm

Richmond Hill: Tuesday April 2nd, 12-4pm

Please email me to reserve your spot. Learn all the options, how to get the most for your house, to sell or to stay and prioritize your needs.

2018, was the year volatility returned.  The last 3 months were the most challenging we've seen since 2015.  In fact, most markets are now in correction territory.  While that is unsettling, history has proven, that we usually find 12-18 months later, we are usually in positive return territory, and patience is rewarded.
For more detailed analysis on the direction, review these analysts comments:
Blackrock Insights:

After analysis it shows that almost all asset classes are flat by end of the year. How have the markets behaved and why?
  Institution For Skill Development & Certification
Financial Tips for 2019

Tax Planning:
  • Tax Receipts will be available over the course of the next 8 weeks.  As usual, with clients that have non-registered accounts, we can provide a summary of receipts that you must have to complete your return.  Call our office for assistance.
  • All RRSP tax receipts will be printed starting January 9th. Then weekly from Feb. 4th on.  
  • T3's and T5's are usually mailed at the end of February.  However, certain products are not required to issue receipts until March 27th, 2019.  Please verify you have all receipts, and if unsure, give us a call.
CPP/QPP Enhancements -
As of January 1, 2019, the CPP and QPP will be enhanced. Employees will receive higher benefits as they make higher contributions. This change is the result of the legislative changes made by the Federal government to the Canada Pension Plan and by the Quebec government to the Quebec Pension Plan.

2018 RRIF Withdrawals and Receipts
All our RRIF clients will be be contacted regarding the 2018 withdrawal amounts.
RRSP Maximum for 2018: 
For 2018 Tax Year:  $26,230 (or 18% of your earned income in the prior year, less any pension adjustment) 
For 2019 Tax Year: $26,500

Own Foreign Assets, Stocks or Real Estate?:   Be aware of new foreign reporting requirements, and learn more here.

Tax Free Savings Account Contribution Limits for 2019: 
$6,000 is the new limit effective January 2nd. The total amount for you is cumulative, so the new total TFSA contributions are $63,500.

We are getting in touch with all clients to ensure you maximize your TFSA as soon as possible.

Insurance:  Do you have the right protection? What's Next?  Rates jumping up!  Here's why.


Most life insurance is sold as a term policy, with rates guaranteed  for 10 or 20 years.  This is great for specific coverage, but it's not so great when the policy rates go up.  If you still have the debt, or need the insurance, it just became an expensive proposition to keep it.  
However, if this has happened to you recently, check on your needs before you cancel.  

Why?  Because if things have changed, if your health is not perfect anymore,  you may not qualify for personally owned insurance again.  So, when I say let's review this before cancelling, don't assume it's a cash grab.  I have had situations where somebody cancelled, and then found out they couldn't get a replacement and it was needed.  

Another big issue is people assume that having group life insurance or bank-offered insurance to replace a policy that is individually owned.  This is frequently not sufficient. 

Recently, a Critical illness policy offered by the bank on a mortgage insurance package denied a claim.  The purchaser was surprised, but the reality is the definitions are much more limited in the bank mortgage offerings, so this can happen more frequently.  The other issue is it's not underwritten upon purchase.  This means, when making a claim, items can be determined that mean you no longer qualify.  It also means that each time you renew your mortgage, you must re-qualify for the insurance.  So, if you have a heart attack, and then try to renew your mortgage 6 months later, even if you are "fine" and back at work, you no longer qualify for the bank-offered mortgage insurance, even though you may have had it for 20 years.

Having your own personally owned insurance offers you protection as long as you pay the premiums.  So, if your health changes, you usually have options to enable you to keep the insurance, rather than being cancelled, just when you might need it.

This got published on 3rd Dec 2018. Claim denied as definition does not meet cancer definitions of "Mortgage insurance" by the bank.
Another reason why it's hard to count on Bank's mortgage insurance.

Speak with an independent agent to ensure you have assistance with this.
Quick Tips For Business Owners:  
New Opportunities for Corporate Life Insurance:  With the new passive income rules for business owners, successful businesses need to find options to invest their cash, so they don't get taxed.  This is where, corporate life insurance can be an option.  
Check out our recent video to understand the potential strategy.
Tax Efficient Life Insurance For Business Owners with Janine Purves
Tax Efficient Life Insurance For Business Owners with Janine Purves
Corporate Retirement Strategy provides tax-efficient growth and access to the cash values if needed, while offering you the protection you were  looking for. Read More
Thank you for your referrals. We really appreciate you passing along our name.  If you know somebody who needs a 2nd opinion on their portfolio, or who really needs to focus on planning for the future and setting some objectives, I can help.  Ensuring you have the retirement income you need and paying the least amount of tax along the way is how I enable you to meet your personal financial objectives.  

Quote of the Month:

Life is like riding a bicycle. To keep your balance, you must keep moving. Albert Einstein

This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see me for individual financial advice based on your personal circumstances. The opinions expressed are those of the author and not necessarily those of Assante Capital Management Ltd.
Insurance products and services are provided through Assante Estate and Insurance Servi ces Inc. Assante Capital Management Ltd. is a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada .
Assante is an indirect, wholly-owned subsidiary of CI Financial Corp. ("CI"). The principal business of CI is the management, marketing, distribution and administration of mutual funds, segregated funds and other fee-earning investment products for Canadian investors through its wholly-owned subsidiary CI Investments Inc. If you invest in CI products, CI will, through its ownership of subsidiaries, earn ongoing asset management fees in accordance with applicable prospectus or other offering documents.
Janine Purves  


Senior Financial Advisor

Assante Capital Management Ltd.


Ph (905) 707-5220

Fax (905) 707-1035


9130 Leslie Street

Suite 302,

Richmond Hill,

ON L4B 0B9


Visit our website at www.janinepurves.com