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  • Improve Your Financial Knowledge - Part 6

    14. The banking industry in Canada is comprised of 88 banking institutions: Big 6 (TD, RBC, CIBC, Scotiabank, BMO, NBF) 29 Domestic banks 21 Foreign bank subsidiaries 28 Foreign bank branches 4 Foreign bank lending branches 15. Banks, Operating in Canada Schedule I: Domestic Canadian banks + Accept and insure deposits under the Canadian Deposit Insurance Corporation (CDIC) Schedule II: Foreign bank subsidiaries, controlled by foreign institutions + Banks owned by insurance companies under the …

  • Improve Your Financial Knowledge - Part 5

    12. Financial Services Industry Segments' Acts: 1. Banking: a) Bank Act (Canada) b) Trust and Loan Companies Act (Canada) 2. Insurance: a) Insurance Companies Act (Canada) b) Insurance Acts of the provinces and territories 3. Investment: a) Securities Acts of the provinces and territories b) National Instruments of the Canadian Securities Administrators (CSA) c) Rules of the Self-Regulatory Organizations (SROs) 13. Bank Products and Services: 1. Deposit Products and Services: Savings accounts …

  • Improve Your Financial Knowledge - Part 4

    10. Financial Publications and Media Services: Canadian: Globe and Mail Financial Post Reuters News Investment Executive American: Wall Street Journal Bloomberg News Financial Times 11. Global Stock Markets DJIA (New York, U.S.) S&P (New York, U.S.) NASDAQ (New York, U.S.) FTSE (London, U.K.) NIKKEI (Tokyo, Japan) SSE (Shanghai, China) Hang Seng (Hong Kong) DAX (Frankfurt, Germany) CAC (Paris, France) TSX (Toronto, Canada) Dow Jones Industrial Average (DJIA): * The most widely quoted mark…

  • Improve Your Financial Knowledge - Part 3

    8. Financial Services' Contribution to the Canadian Economy: a) 7.1 % of the GDP b) 4.5 % of the Employment c) $537 billion of Outward Foreign Direct Investment (FDI) 9. Top 15 Largest Companies in Canada: 1. Royal Bank of Canada: Financial 2. Toronto-Dominion Bank: Financial 3. Enbridge: Oil & Gas 4 Bank of Nova Scotia: Financial 5. Canadian National Railway: Transportation 6. Suncor Energy: Oil & Gas 7. Bank of Montreal: Financial 8. Brookfield Asset Management: Financial 9. TransCanada Cor…

  • Improve Your Financial Knowledge - Part 2

    4. Canada is one of the world's leading industrialized countries and a member of G7 (including Canada, France, Germany, Italy, Japan, UK, USA) Canadian dollar is one of the world’s reserve currencies. 5. World’s Reserve Currencies: 1. U.S. Dollar: USA 2. Euro: Europe 3. Renminbi (Yuan): China 4. Yen: Japan 5. British Pound Sterling: UK 6. Australian Dollar: Australia 7. Canadian Dollar: Canada 8. Swiss Franc: Switzerland 6. Top Global Financial Centers: 1. London 2. New York 3. Hong Kong 4. …

  • Improve Your Financial Knowledge - Part 1

    1. Financial Services Industry: A sophisticated global business sector, performing money and finance activities. Companies in the financial services industry channel money through the financial system via financial transactions. 2. Financial Services Industry's Contribution to Economic Growth: By providing the means for financial transactions and economic consumption. 3. Companies Operating in the Financial Services Sector: 1. Banking institutions: Provide banking services. Banking products:…

  • Everything You Need To Know About Will and Estate Planning in Canada

    What is Estate Planning? Financial planning is literally something that needs to be done with a great care, and your estate is no different. A lot of people are under the impression that estate planning can wait. Before we dive head first into the technical aspects of estate planning, we need to understand the importance of estate planning and how it all works. If you're a bit confused on the basics of preserving wealth by creating a will, or unsure of what a trust is, then this article will def…

  • Everything You Need To Know About Purchasing Life Insurance

    Life Insurance Explained Buying life insurance is no easy task, and at times, it can be a really tedious process. Some advisors may unfortunately attempt to sell you more than you need, and might actually leave out important details about the policy you purchase. The reason life insurance is so difficult to choose, is due to the fact that there are so many different plans out there. Plus, unlike auto or health insurance, you'll be leaving money behind for your estate and heirs. How Life Insura…

  • Why Hiring a Financial Advisor is a Good Idea?

    Some Canadians may believe that meeting with a financial advisor is exclusively reserved for wealthy individuals. However, this is an absolute misconception in the financial services industry. In fact, anybody, who proactively plans for his/her future and wants to live a better life, can benefit from meeting with a financial advisor at no expense. If you are looking for a Toronto financial advisor or a Vancouver financial advisor, this finance blog explains everything you need to know, before hi…

  • Investment Management For Beginners

    Without a question, it is quite difficult to accumulate long-term wealth without consulting with a professional wealth management advisor. While most business owners understand the importance of hiring a financial advisor to manage their assets, but what is investment management? Investment management is a great financial service for investors, who want to accumulate assets effectively over time. If you are not a wealthy investor, you most likely live a frugal life and work a nine-to-five job to…