Thursday, January 31, 2019

Fw: Clarifying book value




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On Wednesday, January 23, 2019, 5:01 AM, Steadyhand Blog <info@steadyhand.com> wrote:

Clarifying book value
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Clarifying book value

by Salman Ahmed

Investors sometimes assume book value is the sum of all the money they've put into their account. This common misconception often leads people to wrongly conclude that their portfolio hasn't grown.

Over time, your book value increases even if you don't add money to your portfolio. In addition to all your purchases and withdrawals, book value includes reinvested income from bond coupons, stock dividends, and gains from selling investments within a fund (often, these are collectively referred to as distributions). For Steadyhand investors, book value also includes the fee rebates you receive when you have more than $100,000 with us or have been a client for more than five years.

Here's the kicker: book value is totally irrelevant for many investors. In only serves a purpose if you have taxable investment accounts, also referred to as non-registered accounts. Anytime you sell something in a taxable account, the Canada Revenue Agency (CRA) requires you to pay taxes on the difference between your market value and book value. So, if you sold an investment for $10 with a book value of $9, you owe taxes on the $1 gain. But you don't need to worry about that in registered accounts like RRSPs and TFSAs because these accounts are tax-exempt (in an RRSP, you'll be taxed when start withdrawing money in retirement).

You can see why comparing your portfolio's current value to its book value isn't appropriate to gauge how your investments have done. Instead, you should refer to your Steadyhand client statement under Portfolio Activity (see below). The gain/loss row will tell you exactly how much your portfolio has grown in the most recent quarter, year, and since you've became a Steadyhand client. We also show you the same information in a graph (Portfolio History) and in percentage terms (Consolidated Performance).

If you're having trouble finding the information, give us a shout. We'd be happy to walk you through your statement.




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Recent Articles:

The benefits of diversification
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Fear of the unknown
Ideas for your RRSP and TFSA contributions
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Fw: New year, new you - adopt good digital banking habits in 2019




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On Tuesday, January 29, 2019, 3:50 PM, HSBC Bank Canada <HSBC@ebusiness.hsbc.ca> wrote:

A fresh start for good digital banking habits in 2019
HSBC
A fresh start for good digital banking habits in 2019
Take advantage of HSBC's digital and mobile technology for secure and convenient account management.

Register for Online banking
Tips to establish good digital banking habits
  1. Register for HSBC Online Banking
    Enjoy the benefits of traditional in-branch banking anytime, anywhere. Banking online is quick, convenient and secure.

  2. Account Alerts on Your Smartphone
    Account alerts sent directly to your phone gives you real-time account activity notifications to keep track of your money, stay on budget, or to stop unauthorized transactions.

  3. Automatic Payroll Direct Deposit
    Payroll direct deposit is a simple, safe, and smart way to receive money into your HSBC account(s). You can then pay bills, transfer money and manage your finances digitally from HSBC Online or Mobile banking.

  4. Never Miss a Bill Payment
    For bills you pay every month, set up recurring bill payments in Online banking and never have a late payment, a lost cheque in the mail, or worry about postage.

  5. Online Statements
    Manage and get access to important banking information in one place. Simply opt-in for Online statements via Online banking and eliminate unnecessary papers and filing.

  6. Pay Yourself First
    Set up automated savings to save for your short and long term financial goals. You can easily open various accounts via HSBC Online banking, such as savings, term deposits or TFSAs and more.

  7. Download the HSBC Mobile App
    Bank securely on the go from your phone by downloading the HSBC Mobile app for Android or iPhone. Simply log on with your Online banking username and your Digital Security Device password.

  8. Mobile Cheque Deposit
    Plus, with the HSBC Mobile banking app, you can easily deposit a cheque from your phone. Launch the Mobile banking app, log in, snap a photo of the front and the back of the cheque and hit "Submit", and the funds will automatically be deposited to your account.

Make the most of secure, convenient online and mobile banking in 2019

Online banking FAQ



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Fw: Want to know how risky your portfolio is? How it performed in 2018 will give you a good idea




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On Tuesday, January 29, 2019, 5:02 AM, Steadyhand Blog <info@steadyhand.com> wrote:

Want to know how risky your portfolio is? How it performed in 2018 will give you a good idea
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Want to know how risky your portfolio is? How it performed in 2018 will give you a good idea

Republished courtesy of the National Post
by Tom Bradley

Your year-end investment statement will be hitting the mailbox any day now. You'll also be receiving important supplementary information. The Canadian Securities Administrators (CSA) require that investment dealers and counsellors show clients their portfolio returns and fees paid in an Annual Report (which may come separately).

This is the best time you'll have all year to assess of how you're doing and whether your provider is delivering the goods.

I should point out that Canadian investment firms aren't known for their transparency so you may have to do some digging. If you're receiving the bare minimum, then you should give your advisor or client service representative a nudge. They will be able to provide more information about fees, returns and asset mix.

When you have the year-end reports in hand, there are some things to look for.

Fees

When it comes to costs, the quality and usefulness of the numbers varies between firms. In the Annual Report, dealers are required to show the administration charges, advice fees and sales commissions you paid. They don't, however, have to include management fees and expenses related to any ETFs, mutual funds and structured products you hold. If you're unsure what's included, ask whether you're seeing the total cost.

And if your enquiry is met with hesitation, obfuscation, or you're told fees aren't important, ask more questions. You're almost certainly paying too much.

Investment Returns

Returns for 2018 will be all over the map. A vast majority of investors will be down for the year and in some cases the declines will be severe (if they were on the wrong side of the pot stocks, had too much energy and/or too little foreign exposure). A lucky few will be in positive territory.

Keep in mind, individual years are not useful in assessing how you're doing (too short; too random), although last year was more useful than some. With the increased volatility, 2018 was a good indicator of how much risk you have in your portfolio.

Ideally, you want to look at returns over a full cycle, which includes bull and bear market periods. In this regard, the Annual Report is getting a little bit more useful every year. That's because the CSA started the clock on January 1st, 2016, which means you'll see at least three-year returns this time.

Three years is far from a full cycle, but it's better than just one. A balanced portfolio (50-70% stocks) should have achieved a return in the range of three to five percent per annum after all costs (which equates to a cumulative return of 9-16%). I'm basing this on how the fixed income and equity indexes did over that period.

If you've been with your firm for many years, ask for numbers going back to when you started. Ten-year returns to December represent a full market cycle and match up well with your long-term investing goals. Over the last decade, balanced portfolio returns should be in the range of 6-8% per annum (80-120% cumulative). For portfolios that are predominantly invested in stocks, a reasonable range is 8-10%. If you are meaningfully below these levels, you should consider making a change.

Asset mix

The biggest lever you have for adjusting your level of risk is the type of assets you own. More specifically, the percentage of your portfolio that's invested in stocks, higher risk bonds and real estate compared to more stable fixed income vehicles like GIC's and government bonds.

Asset mix is another area where you may need to ask for better information. Many of the statements I see break down accounts into cash, bonds, stocks and mutual funds. Funds, of course, are convenient vehicles for owning cash, bonds and stocks, they are not an asset class. If you have a good portion of your portfolio in mutual funds, this breakdown is of no use. Again, ask your advisor to put all your accounts together (RRSPs; TFSAs; and other accounts) and calculate an asset mix taking into account the funds you own.

This year you may be reluctant to open your statements given how badly 2018 finished, but I encourage you to at least look at the Annual Report and make sure you understand it. You can't assess how you're doing unless you do.




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Recent Articles:

Clarifying book value
The benefits of diversification
Market narratives spread like epidemics and can turn on a dime
Bradley's Brief — Q4 2018
Fear of the unknown
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Fw: New Offering - Atrium Mortgage Investment Corporation




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On Wednesday, January 30, 2019, 5:02 PM, RBC New Issue <rbcdi.alert@rbc.newissue.sungard.com> wrote:

RBC Direct Investing TM. would like to inform you that the following New Issue has just been announced.

Atrium Mortgage Investment Corporation

Short Description: Treasury Offering of Common Shares
Price: $13.05 CDN per share.
Settlement: February 8 2019.

To review the Terms and Conditions, update your email information, register for additional email alerts or to unsubscribe from email alerts, please visit the RBC Direct Investing  online investing website and select the IPO Centre link.

If you received this email and have not registered for this service, please contact an RBC Direct Investing investment service representative at 1-800-769-2560.

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In accordance with the terms of the RBC Direct Investing's IPO Centre user agreement, you are deemed to have received the prospectus to which the above information relates as it is available to you on the RBC Direct Investing's online investing site by selecting the IPO Centre link.  No physical copies of the prospectus will be mailed automatically, however you may request one through an RBC Direct Investing investment service representative.  For more information or to request a copy of the prospectus please contact an RBC Direct Investing investment service representative at 1-800-769-2560.

A preliminary prospectus relating to these securities has been filed with securities commissions or similar authorities in certain provinces or territories of Canada but has not yet become final for the purpose of distribution to the public.  This information shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale or any acceptance of an offer to buy these securities in any province or territory of Canada prior to the time a receipt for the final prospectus or other authorization is obtained from the securities commission or similar authority in such province or territory.

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Fw: Clients statements at Steadyhand




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On Thursday, January 31, 2019, 5:01 AM, Steadyhand Blog <info@steadyhand.com> wrote:

Clients statements at Steadyhand
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Clients statements at Steadyhand

by Tom Bradley

If you're a Steadyhand client, you might have found my recent National Post article about year-end reporting to be confusing. I say that because much of what I wrote about doesn't apply to you. That's because we're different than 99% of the industry — we have no problem being transparent with our clients.

As a follow-up, let me make a few comments that will hopefully answer some of the questions you may have.

  • Our statements hit your email box on January 8th. We endeavour to deliver your statement and the accompanying Quarterly Report to you approximately five business days after quarter-end.
  • We don't provide the Annual Report that I referred to in the article. That's because our quarterly statements already have all the required information (and much more) on fees and returns.
  • The fee we show you on page 2 of your statement (in percentage and dollar terms) includes everything, including sales taxes. There are no additional administration or account fees, transfer fees, transaction charges and certainly no commissions.
  • When it comes to questions about fees, you'll never hear us hesitate, obfuscate or tell you they're not important.
  • As for your personal investment returns, they're shown after fees in both percentage and dollar terms. They go back to when you became a client.
  • We don't vacillate between what we think is important. We always guide you to the longest return number you have (even if it's not the highest return on the page). In our Quarterly Report, the 10-year and 'Since inception' returns are shaded for emphasis.
  • At the account and consolidated level, we provide you with your personal asset mix. Because most of our funds own more than one asset class, we calculate the numbers by drilling down through the funds you own.
  • We offer new clients the chance to do a quick phone call to walk through their first statement.
  • We always want you to open your statement and get an update on fees, returns and asset mix, even if it was a tough year like 2018.

Numerous times in the article I suggest that investors will need to ask for more information and explanation. We welcome enquiries about our statements. If there's something that isn't clear, don't hesitate to call us at 1-888-888-3147.




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Recent Articles:

Want to know how risky your portfolio is? How it performed in 2018 will give you a good idea
Clarifying book value
The benefits of diversification
Market narratives spread like epidemics and can turn on a dime
Bradley's Brief — Q4 2018
Copyright © 2019 Steadyhand Investment Management Ltd., All rights reserved.
You are receiving this email because you opted in at steadyhand.com.

Our mailing address is:
Steadyhand Investment Management Ltd.
1747 W 3rd Ave, Vancouver, BC, Canada
Vancouver, BC V6J 1K7
Canada

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