With interest rates at an all-time high, right now is the time to invest in GICs for long-term security and peace of mind.
Guaranteed Investment Certificates (GIC) provide a reliable source of income and are a great way to get closer to your financial goals. With competitive fixed interest rates, you can rest assured that your funds are invested safely and securely regardless of stock market fluctuations. It can be time-consuming, however, to shop around for the best rates. That’s why you may want to consider working with a GIC broker.
GIC brokers like Rothenberg & Rothenberg specialize in finding the best possible GIC rates on the market. As a broker, they monitor rates across dozens of institutions daily and compile this information to make sure you have access to the highest interest rates.
“We know what’s happening with the GIC rates on a day-to-day basis. We do the homework for the client,” said Tina Patel, GIC department coordinator at Rothenberg & Rothenberg. “We shop across Canada to get the best rate for our clients, and we don’t just deal with one financial institution. We deal with over 25 financial institutions across the country.”
But it’s not only a matter of easy and flexible access to great GIC rates from Canadian banks, trust companies and credit unions. When you choose to go with a GIC broker instead of buying from the issuer directly, you can potentially maximize your returns.
By purchasing directly from the issuer, your funds are at risk if you invest more than the $100,000 amount covered by the Canadian Deposit Insurance Corporation (CDIC). You want your interest protected, so you should always invest less than the eligible insured amount. By purchasing a GIC through a broker like Rothenberg & Rothenberg, you can increase your insurance coverage and invest across multiple financial institutions.
Further, using the services of a broker like Rothenberg & Rothenberg to purchase GICs has no cost for you as the client. Much like a mortgage broker that is paid by the provider and not by the client, GIC brokers are paid a fee by the financial institution offering the GIC.
“There is no fee charged to the client if a client were to come into Rothenberg. If we quote them a one-year GIC rate at six per cent, that is the rate the client will get,” Patel said. “The commission paid to Rothenberg does not affect the rate of return to the client in any form.”
With the help of a GIC broker, achieving your financial goals becomes a lot more realistic. Through their guidance and expertise, you can be confident knowing your investments are in good hands.
Rothenberg & Rothenberg has been serving the GIC needs of Canadians since 1979. With offices in Westmount, South Shore, Pointe-Claire in Quebec, and an office in Calgary, Alberta, we are conveniently located to serve your GIC needs. To see what rates they currently have available or to get in touch with a GIC broker, you can visit www.rothenberg.ca/gic-rates.
For those who are interested in wealth management, Rothenberg Wealth Management helps clients manage their investment portfolio and provides strategies to grow their wealth. Contact us today for a free, no-obligation consultation to review your financial situation.
This article originally appeared in the Montreal Gazette. To view the original article, click here.
Please note: Rothenberg & Rothenberg, the company mentioned in this article, deals exclusively with GICs and operates independently of its sister company Rothenberg Wealth Management, which provides a full suite of wealth management solutions.