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Wealth management: A growing team of experts that continues to make its mark

Posted on Monday December 21, 2020

Wealth management: A growing team of experts that continues to make its mark

As your assets increase, your needs become more complex. With this in mind, UNI has joined forces with other Canadian financial cooperatives to form Aviso Wealth and its products and services subsidiary, Credential Securities. Thanks to this partnership, UNI now has access to unique expertise in wealth management. We interviewed Denis Robichaud, a financial planner at UNI, an investment advisor at Credential Securities and a registered member of the Investment Industry Regulatory Organization of Canada (IIROC).

Why partner with Credential Securities?

According to Mr. Robichaud, the partnership between UNI and Credential Securities provides access to a broader range of leading-edge financial products, allowing both companies to offer their clients outstanding investment solutions.

The partnership has opened the door to discretionary management products. “Some clients want portfolios that are custom-built by product,” Mr. Robichaud explains. By partnering with Credential Securities, UNI has access to an even wider range of competitive products to all its clients. This has made UNI’s Wealth Management team one of the most successful in Canada.

The range of investments available to client members

To protect your peace of mind and accurately gauge your risk tolerance, our advisors and planners take the time to counsel you properly. There’s something for every investor profile in the wide range of financial products available:

  • Guaranteed investment certificates (GICs)
  • Market-linked guaranteed investments (MGLIs), which guarantee the amount you invest but earn interest based on market performance, allowing you to take advantage of stock market trends
  • Mutual funds
  • Responsible investments
  • Bonds and individual shares

Denis Robichaud, a financial planner at UNI, an investment advisor at Credential Securities and a registered member of the Investment Industry Regulatory Organization of Canada (IIROC)

IIROC’s role

The Investment Industry Regulatory Organization of Canada (IIROC) is an industry-led group that provides oversight based on self-regulation. “Much like a professional order, IIROC protects the public by preventing anyone from providing financial advice without the proper training and knowledge,” Mr. Robichaud says.

IIROC was created to protect not only clients, but also the industry’s reputation. IIROC conducts regular inspections to ensure compliance with standards and takes disciplinary action in the event of non-compliance. Ethical standards and professionalism are central to its mission. To protect clients and combat fraud, IIROC ensures that its members are properly trained through continuing education and other means.

Financial planning in 2020*

The entire planet agrees on one thing: 2020 has not been an easy year. That’s why UNI’s advisors and planners are developing long-term plans for their client members. Planning is the best way to achieve forward-looking goals. Our professionals monitor processes and performance on an ongoing basis and take the necessary steps to ensure optimal performance, even in times of uncertainty.

Portfolio diversification: The key to investor success

The adage “Don’t put all your eggs in one basket!” has never been truer when it comes to your finances. A balanced portfolio will have lower volatility by including different regions and sectors. “Diversifying increases opportunities for growth while reducing the risk that poor performance in one sector or geographic area will hurt your plan,” Mr. Robichaud says.

An eventful year for securities

A storm rocked the markets at the beginning of the coronavirus pandemic. “Volatility has been high, but there has been a significant recovery from the March lows,” Mr. Robichaud says. “There’s still uncertainty related to several factors, but looking at overall returns over the past year, most portfolios are in the black.”

According to Mr. Robichaud, UNI’s advisors at Credential Securities are making the necessary changes to keep clients’ plans on track while also being flexible when goals change. UNI follows up with its client members on a regular basis. “The market is always looking ahead. When things go wrong, you have to remember that the market is seeking to predict what will happen, not necessarily to quantify what is happening today,” he says.

Returns on GICs when interest rates have never been so low

The current environment is not conducive to guaranteed products such as guaranteed investment certificates (GICs). “Returns are quite low right now because they’re tied to the current prime rate, and it can be difficult to earn a return that keeps pace with inflation,” Mr. Robichaud says.

Mr. Robichaud suggests exploring your options. “For a reasonable return, you have to consider other solutions, including investment funds that offer low or moderate risk, which are more compatible with the tolerance level of clients who are accustomed to guaranteed products.”

As to whether bolder strategies should be considered, such as borrowing to invest, Robichaud says that this fairly uncommon tactic is mostly used to maximize RRSPs with the goal of repaying the loan using the corresponding tax refund. However, he recommends caution. “It's a strategy that amplifies gains, but it can also amplify losses. Maximizing your RRSP contribution can make a lot of sense during tax season, especially if you repay the loan quickly, but it’s a move that always carries a fairly high degree of risk.”

Wealth management experts

Our certified experts will develop a customized financial strategy to suit your needs.

To simplify the management of your financial assets or if you have any questions about wealth management, contact a UNI advisor at Credential Securities.

* Mutual funds and securities-related financial planning services are offered through Credential Asset Management Inc. Mutual funds, other securities and securities-related financial planning services are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered trademark of Aviso Wealth Inc. The information contained in this article has been obtained from sources believed to be reliable; however, we cannot guarantee its accuracy or completeness. This article is provided as a general source of information and should not be considered personal investment advice or a solicitation to buy or sell mutual funds.

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