Skill Set Required

The TRAIN2INVEST  program does not require prior knowledge of the stock market or investments (or math or finance etc.).

What You Need to Bring To The Table Is

• A desire to SUCCEED!
• To be TEACHABLE
• To do the necessary DUE DELIGENCE

Paradigm Shift: 

Forget the ancient strategies of BUY & HOLD! Think RIM; Nortel; Eton; Jetsgo; Target Canada etc. – a whole bunch of people are holding on to a  whole lot of worthless paper! Here’s a novel concept: Take small profits at shorter intervals!

Re-Inventing Wealth  Management!

Many individuals who are very successful at their careers or at running their business remain intimidated at the thought of managing their own investments.  They feel inadequate in their ability to understand what is required and subsequently rely almost solely on “experts” to make the decisions for them.  Even though most people are highly capable of making informed, intelligent choices, they abdicate their most important resource (hard earned savings and investments) to third parties who may not share the same goals as the individual/family.  By only following the advice of traditional investing philosophies (some of which may be outdated), they limit the growth of their portfolios to industry averages.

Even though the markets have changed significantly over the past 30 years, most people have not changed the way their money is put to work.

In addition, traditional investing methodologies often times have significant fees associated with them and most investors do not know that these fees have a huge impact on the growth of their portfolios.   The returns they receive are usually mediocre at best and quite costly at worst resulting in real challenges for families as they age towards retirement.

How about taking 1% within 14 days? Approximately 30% per year on a compounded basis!

What does your headspace say to the above statement? Can’t be done!
Why? The ‘experts’ couldn’t do it, so a novice can’t.

Maybe there is a reason why the experts want you to think that!
REMEMBER – Freedom 55: Guess what? Your financial planner retired at 55 on the fees you GAVE him!

Major Canadian Banks halt selling 3rd Party Investment Products

(Source: Globe & Mail – September 7, 2021)
Several of Canada’s largest banks have halted sales of third-party investment products from their financial planning arms as new regulatory rules will soon require advisers to have deeper knowledge of the funds they recommend to clients.

Royal Bank of Canada, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce have all notified clients in their financial planning businesses that advisers will no longer be selling third-party funds for any investment portfolios. (The changes do not apply to any of the banks’ full-service brokerage accounts or do-it-yourself investing clients.)

The new set of rules – known as the client-focused reforms (CFRs) – are slowly being rolled out to the industry in stages. Changes to the “know-your-product,” or KYP, rule will come into effect at the end of 2021, and among other things, address conflict of interest concerns such as an adviser’s compensation being linked to proprietary products.
However, as wealth-management firms begin to prepare for the changes, investor advocates and independent fund companies worry the KYP initiative, put in place to protect investors, may result in a number of independent fund companies being dropped from product shelves and proprietary products being the only option for investors.

TD Wealth Financial Planning, a division of TD Private Wealth, and CIBC Imperial Service, a segment of CIBC advisers that services branch clients with at least $100,000 in investable assets, both announced earlier this year they would no longer be selling third-party funds effective July 1 and June 30, respectively.
In an internal memo, TD notified its staff that the change would “reduce the risk” related to following new regulatory rules that require advisers to have a greater knowledge of the products they are selling.

We Have Re-evaluated The Offerings

“As part of our ongoing review process, we have re-evaluated the offerings available on our product shelf, and have developed a plan that allows us to continue to provide choice to our clients and advisers while ensuring that we fulfil our regulatory obligations,” Mr. Walker said.
RBC, TD and CIBC all confirmed they will not remove any existing third-party products held in investment portfolios by clients, and may accept transfer of funds for new and existing clients – but no new purchases will be allowed going forward.
At TD, the move to sell only in-house funds created a wave of more than 100 financial planners moving their business over to the bank’s full-service brokerage arm, TD Wealth Private Investment Advice, which continues to allow a client to purchase non-bank products.

Jason Pereira, an independent adviser at Woodgate Financial Inc., a financial planning firm in Toronto, says the recent move by some Canadian banks is an “outright shutting down” of access to all third-party funds, and is “detrimental” to investors being offered the best available fund.
“There is a lot of daylight between having no options and having all the options,” Mr. Pereira said in an interview. “You cannot guarantee that you are going to have the lowest cost exchange-traded fund for every sector of the economy, or the best performing mutual fund for every sector of the economy. So, if you’re saying ‘We’re just going to sell our own stuff,’ then you are basically saying it doesn’t matter even if that is not the best outcome for your client.
“They use regulation as an excuse to make themselves a proprietary shop.”

Largest Independent Fund Companies

One of the country’s largest independent fund companies, Fidelity Investments Canada ULC, declined to comment on the banks’ decision to remove them from their financial planning shelves. Like many independent fund companies, Fidelity relies on distribution channels to sell their funds, including all of the Canadian banks. During a public comment period prior to the approval of the CFRs, Fidelity addressed concerns to regulators about the proposed rules leading to more firms closing their product shelves.
“It would be an unfortunate consequence of the CFRs if more firms adopted closed shelves,” Rob Strickland, president of Fidelity Investments Canada, in the comment letter. “But if they do, it is very important the [regulators] spell out the process for assessing their own products against third party, as well as the consequences along with concrete action that must be taken if proprietary products are unsuitable by comparison to third-party products.”