Investing in Peace of Mind

Integrated Financial Planning and Asset Management.
No fads. No guesswork. No drama.

What PWL can do for you

IIROC AdvisorReport

Personal Wealth

Peter Guay

How ESG Investing Affects Your Investment Performance

October 18, 2018

I’ve talked about what Environmental, Social and Governance (ESG) investing is, how to build portfolios with ESG factors, and how companies are rated. Now let’s talk about how ESG investing affects investment performance.

Personal Wealth

$Genius Baby Drawing Math Equation Wall$

Susan Daley

Everything You Need to Know About RESPs

October 17, 2018

Your child’s post-secondary education might be decades away, but planning ahead can make that expensive time in your lives much less stressful. One of the major ways to do that is through the Registered Education Savings Plan (RESP), which offers up to $7,200 in incentives for you to save for your child’s education over the long term.

Personal Wealth

Benjamin Felix

The Rational Reminder Podcast Episode 16 – Market Volatility

October 17, 2018

This is episode 16 of the Rational Reminder podcast, with Cameron Passmore and Benjamin Felix.

Living in Retirement

Kristine van der Pas-Norenius

Retirement: This One Thing Will Make It Truly Fulfilling

October 16, 2018

How do you manage the change from the fast-paced, highly scheduled, and task-oriented work life to what could be the opposite in retirement? What can you do to live a rewarding retirement life without the structure that guided your work life?

Advanced Investing

Peter Forsyth

Bonds in a Balanced Portfolio: Long Term or Short Term?

October 16, 2018

I think we all know that its a good idea to have a mix of bonds and stocks in an investment portfolio. The bonds dampen down the portfolio volatility, and act as a hedge when equities tank.

Market Research

Benjamin Felix

The business difference between product and advice

October 15, 2018

Fees are important to investors. In most cases, lower fees increase the likelihood of a positive long-term investment outcome. Index funds globally have seen enormous growth in the past decade. That growth (and the competition to capture it) have resulted in fees literally going to zero on some index funds.

Starting Out

Benjamin Felix

What’s a Normal Stock Return?

October 12, 2018

Here’s are two trick questions: Are you normal? Am I normal? Common sense tells us it’s impossible to answer either without also asking: Compared to what? For example, check out this image of the Passmore & Felix team on our newly updated website.

Recommended Resources

- A Guide to Responsible Investing – Doing Well by Doing Good
  
  ESG and SRI investments are becoming more prevalent in the investment universe. This document covers the three main strategies of ESG investing: passive, integration, and active. We review the implementation of each strategy, the consequences for portfolio returns, and we recommend some options for investing according to ESG.
  Published: September 17, 2018
  Contributors
  Download Document
- Housing: The Best Investment in History (On Paper)
  
  One of the most common questions that I am asked is “should I invest in real estate?” Even more common than this question is the matter of fact statement that real estate is a great investment.
  Published: May 24, 2018
  Contributors
  Download Document
- The Passive vs. Active Fund Monitor (2018)
  
  This report describes the competitive landscape for passively and actively managed funds over the last twelve years in Canada and the United States.
  Published: April 10, 2018
  Contributors
  Download Document
- Asset Location & Uncertainty
  
  Asset allocation requires investors to determine the appropriate allocation of each asset class – Canadian equities, US equities, International equities, fixed income – in their portfolio.
  Published: December 13, 2017
  Contributors
  Download Document
- The Retiree’s Dilemma: The Deckards
  
  We introduce the Deckards who are just starting their retirement. Like many retirees, they are concerned about how best to structure withdrawals from their investments to fund their retirement.
  Published: September 30, 2017
  Contributors
  Download Document
- A Guide to Responsible Investing – Doing Well by Doing Good
  Summary
  
  ESG and SRI investments are becoming more prevalent in the investment universe. This document covers the three main strategies of ESG investing: passive, integration, and active. We review the implementation of each strategy, the consequences for portfolio returns, and we recommend some options for investing according to ESG.
  
  Contributors
  Download Document
- Housing: The Best Investment in History (On Paper)
  Summary
  
  One of the most common questions that I am asked is “should I invest in real estate?” Even more common than this question is the matter of fact statement that real estate is a great investment.
  
  Contributors
  Download Document
- The Passive vs. Active Fund Monitor (2018)
  Summary
  
  This report describes the competitive landscape for passively and actively managed funds over the last twelve years in Canada and the United States.
  
  Contributors
  Download Document
- Asset Location & Uncertainty
  Summary
  
  Asset allocation requires investors to determine the appropriate allocation of each asset class – Canadian equities, US equities, International equities, fixed income – in their portfolio.
  
  Contributors
  Download Document
- The Retiree’s Dilemma: The Deckards
  Summary
  
  We introduce the Deckards who are just starting their retirement. Like many retirees, they are concerned about how best to structure withdrawals from their investments to fund their retirement.
  
  Contributors
  Download Document
- Market Statistics – September 2018
  
  Looking for reliable data on recent market performance? Here you’ll find a PDF document of the monthly statistics for the month of September for the various Canadian, U.S. and international markets that we follow.
  Published: September 30, 2018
  Contributors
  Download Document
- Market Statistics – August 2018
  
  Looking for reliable data on recent market performance? Here you’ll find a PDF document of the monthly statistics for the month of August for the various Canadian, U.S. and international markets that we follow.
  Published: August 31, 2018
  Contributors
  Download Document
- Market Statistics – July 2018
  
  Here you’ll find a PDF document of the monthly statistics for the month of July for the various Canadian, U.S. and international markets that we follow.
  Published: July 31, 2018
  Contributors
  Download Document
- Market Statistics – June 2018
  
  Looking for reliable data on recent market performance? Here you’ll find a PDF document of the monthly statistics for the month of June for the various Canadian, U.S. and international markets that we follow.
  Published: June 30, 2018
  Contributors
  Download Document
- Market Statistics – May 2018
  
  Looking for reliable data on recent market performance? Here you’ll find a PDF document of the monthly statistics for the month of May for the various Canadian, U.S. and international markets that we follow.
  Published: May 31, 2018
  Contributors
  Download Document
- Market Statistics – September 2018
  Summary
  
  Looking for reliable data on recent market performance? Here you’ll find a PDF document of the monthly statistics for the month of September for the various Canadian, U.S. and international markets that we follow.
  
  Contributors
  Download Document
- Market Statistics – August 2018
  Summary
  
  Looking for reliable data on recent market performance? Here you’ll find a PDF document of the monthly statistics for the month of August for the various Canadian, U.S. and international markets that we follow.
  
  Contributors
  Download Document
- Market Statistics – July 2018
  Summary
  
  Here you’ll find a PDF document of the monthly statistics for the month of July for the various Canadian, U.S. and international markets that we follow.
  
  Contributors
  Download Document
- Market Statistics – June 2018
  Summary
  
  Looking for reliable data on recent market performance? Here you’ll find a PDF document of the monthly statistics for the month of June for the various Canadian, U.S. and international markets that we follow.
  
  Contributors
  Download Document
- Market Statistics – May 2018
  Summary
  
  Looking for reliable data on recent market performance? Here you’ll find a PDF document of the monthly statistics for the month of May for the various Canadian, U.S. and international markets that we follow.
  
  Contributors
  Download Document
- How to use the Rate of Return calculator
  
  This document explains how to use the Rate of Return calculator to calculate your portfolio’s annual rate of return.
  Published: September 12, 2018
  Contributors
  Download Document
- Rate of Return Calculator (2017) – Modified Dietz Method
  
  By using an approximate time-weighted rate of return (such as the Modified Dietz method), investors will be better able to gauge their performance relative to index benchmarks.
  Published: September 12, 2018
  Contributors
  Download Document
- Rate of Return Calculator (2016) – Modified Dietz Method
  
  By using an approximate time-weighted rate of return (such as the Modified Dietz method), investors will be better able to gauge their performance relative to index benchmarks.
  Published: September 11, 2018
  Contributors
  Download Document
- Rate of Return Calculator (2015) – Modified Dietz Method
  
  By using an approximate time-weighted rate of return (such as the Modified Dietz method), investors will be better able to gauge their performance relative to index benchmarks.
  Published: September 12, 2015
  Contributors
  Download Document
- Rate of Return Calculator (2014) – Modified Dietz Method
  
  By using an approximate time-weighted rate of return (such as the Modified Dietz method), investors will be better able to gauge their performance relative to index benchmarks.
  Published: September 12, 2014
  Contributors
  Download Document
- How to use the Rate of Return calculator
  Summary
  
  This document explains how to use the Rate of Return calculator to calculate your portfolio’s annual rate of return.
  
  Contributors
  Download Document
- Rate of Return Calculator (2017) – Modified Dietz Method
  Summary
  
  By using an approximate time-weighted rate of return (such as the Modified Dietz method), investors will be better able to gauge their performance relative to index benchmarks.
  
  Contributors
  Download Document
- Rate of Return Calculator (2016) – Modified Dietz Method
  Summary
  
  By using an approximate time-weighted rate of return (such as the Modified Dietz method), investors will be better able to gauge their performance relative to index benchmarks.
  
  Contributors
  Download Document
- Rate of Return Calculator (2015) – Modified Dietz Method
  Summary
  
  By using an approximate time-weighted rate of return (such as the Modified Dietz method), investors will be better able to gauge their performance relative to index benchmarks.
  
  Contributors
  Download Document
- Rate of Return Calculator (2014) – Modified Dietz Method
  Summary
  
  By using an approximate time-weighted rate of return (such as the Modified Dietz method), investors will be better able to gauge their performance relative to index benchmarks.
  
  Contributors
  Download Document
- NBIN Best Execution Public Disclosure Statement
  
  The following are recent changes to the NBF Best Execution public disclosure statement, which will be noted in this section for your reference, and will be maintained for at least the next 6 months
  
  Download Document
- The Safe-Keeping of your Assets
  
  PWL Capital is structured such that all your assets are held in accounts in your name by our carrying broker, National Bank Correspondent Network. When you deposit money to your accounts, the cheque is made out to NBCN, never PWL.
  
  Download Document
- Accounts and Services Agreement and Disclosures
  
  Accounts and Services Agreement and Disclosures For Clients of Introducing Brokers
  
  Download Document
- Introducing/carrying broker disclosure statement
  
  NBCN is the Carrying Broker for the financial institution with whom you opened your securities account.
  
  Download Document
- Opening Your Retail Account
  
  This brochure sets out the basic information requirements for the initial application and ongoing maintenance of your account. Your firm may request additional information, depending on the type of account and the services you request.
  
  Download Document
- NBIN Best Execution Public Disclosure Statement
  
  Summary
  
  The following are recent changes to the NBF Best Execution public disclosure statement, which will be noted in this section for your reference, and will be maintained for at least the next 6 months
  
  Download Document
- The Safe-Keeping of your Assets
  
  Summary
  
  PWL Capital is structured such that all your assets are held in accounts in your name by our carrying broker, National Bank Correspondent Network. When you deposit money to your accounts, the cheque is made out to NBCN, never PWL.
  
  Download Document
- Accounts and Services Agreement and Disclosures
  
  Summary
  
  Accounts and Services Agreement and Disclosures For Clients of Introducing Brokers
  
  Download Document
- Introducing/carrying broker disclosure statement
  
  Summary
  
  NBCN is the Carrying Broker for the financial institution with whom you opened your securities account.
  
  Download Document
- Opening Your Retail Account
  
  Summary
  
  This brochure sets out the basic information requirements for the initial application and ongoing maintenance of your account. Your firm may request additional information, depending on the type of account and the services you request.
  
  Download Document
- Playing the Winner’s Game (Swedroe, 2013)
  
  The instant access to unlimited information on the Internet has not improved experienced investors’ chances of having a positive investing experience. The need to rise above the noise with out busy lives has never been greater. That is where this book comes in.
  
  Download Document
- The Investment Answer (Goldie & Murray, 2011)
  
  Jargon-free and written for all investors — experienced, beginner, and everyone in between — The Investment Answer distills the process into just five decisions — five straightforward choices that can lead to safe and sound ways to manage your finances.
  
  Download Document
- The Behavior Gap
  
  As a financial planner, Carl Richards grew frustrated watching people he cared about make the same mistakes over and over with their money. They were letting emotion get in the way of making smart financial decisions. He named this phenomenon—the distance between what we should do and what we actually do— “the behavior gap.”
  
  Download Document
- Keeping the Cottage in the Family
  
  A country place is a symbol of relaxation, continuity in life, and family harmony. But when the topic of ownership succession is raised, that lovely spot can be transformed into a source of stress, uncertainty and family strife.
  Published: August 20, 2017
  Contributors
  Download Document
- Playing the Winner’s Game (Swedroe, 2013)
  
  Summary
  
  The instant access to unlimited information on the Internet has not improved experienced investors’ chances of having a positive investing experience. The need to rise above the noise with out busy lives has never been greater. That is where this book comes in.
  
  Go to Document
- The Investment Answer (Goldie & Murray, 2011)
  
  Summary
  
  Jargon-free and written for all investors — experienced, beginner, and everyone in between — The Investment Answer distills the process into just five decisions — five straightforward choices that can lead to safe and sound ways to manage your finances.
  
  Go to Document
- The Behavior Gap
  
  Summary
  
  As a financial planner, Carl Richards grew frustrated watching people he cared about make the same mistakes over and over with their money. They were letting emotion get in the way of making smart financial decisions. He named this phenomenon—the distance between what we should do and what we actually do— “the behavior gap.”
  
  Go to Document
- Keeping the Cottage in the Family
  Summary
  
  A country place is a symbol of relaxation, continuity in life, and family harmony. But when the topic of ownership succession is raised, that lovely spot can be transformed into a source of stress, uncertainty and family strife.
  
  Contributors
  Download Document
- Passmore & Felix – Dimensional Global Portfolios (September 2018)
  
  This document provides the performance data for Dimensional Global Portfolios for September 2018, as compiled by the Passmore & Felix team.
  Published: September 30, 2018
  Contributors
  Download Document
- Nancy Graham & Her Team – PWL Model Portfolios (June 2018)
  
  This document provides the performance data for Model Portfolios for June 2018, as compiled by Nancy Graham & Her Team.
  Published: June 30, 2018
  Contributors
  Download Document
- Nancy Graham & Her Team – PWL Model Portfolio Return Methodology
  
  Past performance does not guarantee future results. The historical performance of indexes is illustrative only and will not necessarily mirror the future performance of any fund tracking that benchmark.
  Published: January 1, 2018
  Contributors
  Download Document
- Passmore & Felix – Dimensional Global Portfolios (September 2018)
  Summary
  
  This document provides the performance data for Dimensional Global Portfolios for September 2018, as compiled by the Passmore & Felix team.
  
  Contributors
  Download Document
- Nancy Graham & Her Team – PWL Model Portfolios (June 2018)
  Summary
  
  This document provides the performance data for Model Portfolios for June 2018, as compiled by Nancy Graham & Her Team.
  
  Contributors
  Download Document
- Nancy Graham & Her Team – PWL Model Portfolio Return Methodology
  Summary
  
  Past performance does not guarantee future results. The historical performance of indexes is illustrative only and will not necessarily mirror the future performance of any fund tracking that benchmark.
  
  Contributors
  Download Document
- Protection Against Fraud Checklist
- Protection Against Fraud Checklist
  
  This checklist provides information on additional steps that you can take to protect yourself from identity theft and fraud.
  Published: April 20, 2017
  Contributors
  Download Document
- Protection Against Fraud Checklist
  Summary
  
  This checklist provides information on additional steps that you can take to protect yourself from identity theft and fraud.
  
  Contributors
  Download Document

Once again thank you very much. It’s this type of personal and extraordinary service and obsession with looking after the client that make you guys so amazing and successful.

Chris Coates The Coates Agency
I get a high growth portfolio, ongoing wealth management, and on-call advice from true financial experts for a set fee. I couldn’t be happier…

Adam McNamara Tech Entrepreneur
Excellent service and considerate of my individual circumstances. Down to earth language and communications, investment strategy and approach. PWL is excellent for investment services and financial planning. That is why I am a client.

Richard Slowikowski Federal Civil Servant
As a client of Cameron for several years, I have been impressed with his sound investment strategy and unique personalized service that makes my family feel as if we are his only customer. During this time I encouraged several high net worth colleagues to get in touch with him. As a testament to Cameron’s affable and informed manner, 100% of these contacts became customers of his. Seems like people know a good thing when they experience it…

Phil Wyatt
Great experience! Very friendly and accommodating. Great teachers…can’t say enough good stuff.

Graham Ghent
Very impressed with the attention given by representatives to your needs and requests as well as the promptness for assistance or any service requested.

Ron Devries Retired

Meet PWL Financial Advisors

At PWL Capital, our focus is simple: we do what’s right for you, each and every day. In return, clients like you have rewarded us with more than two decades of trust, loyalty and respect.

Dan Bortolotti

CFP, CIM®, Associate Portfolio Manager

Toronto
Justin Bender

CFA, CFP, B.Comm., Portfolio Manager

Toronto
Anthony Layton

MBA, CIM®, CEO, Portfolio Manager

Montreal
Benjamin Felix

MBA, CFA, CFP, Associate Portfolio Manager

Ottawa
James Parkyn

CIM, FCSI, F.Pl, Portfolio Manager

Montreal
Shannon Bender

CFP, CIM®, B.Comm., Associate Portfolio Manager

Toronto
Nancy Graham

CPA, CA, CIM, CFP, TEP, Portfolio Manager

Ottawa
Susan Daley

CFA, CFP, Associate Portfolio Manager

Waterloo
Shweta Shrivastava

MBA, CIM, Portfolio Manager

Montreal
Dustin Tate

CFA, MFin., Investment Advisor

Toronto
Peter Guay

MBA, CFA, Portfolio Manager

Montreal
François Doyon La Rochelle

CFA, Portfolio Manager

Montreal
Cameron Passmore

CIM®, FMA, FCSI, Portfolio Manager

Ottawa
Graham Westmacott

MBA, CFA, Portfolio Manager

Waterloo
Mario Chandonnet

Senior Financial Planner & Financial Security Advisor

Montreal

Waterloo

20 Erb St. W

Suite 506

Waterloo N2L 1T2 ON

Toronto

8 Wellington Street East

3rd Floor

Toronto M5E 1C5 ON

Ottawa

265 Carling Avenue

8th Floor

Ottawa K1S 2E1 ON

Montreal

3400 de Maisonneuve Ouest

Suite 1501

Montreal H3Z 3B8 QC

Evidence Based Investing

A Guide to Responsible Investing – Doing Well by Doing Good

Housing: The Best Investment in History (On Paper)

The Passive vs. Active Fund Monitor (2018)

Asset Location & Uncertainty

The Retiree’s Dilemma: The Deckards

Contributors

Contributors

Contributors

Contributors

Contributors

Summary

Contributors

Summary

Contributors

Summary

Contributors

Summary

Contributors

Summary

Contributors

Market Statistics – September 2018

Market Statistics – August 2018

Market Statistics – July 2018

Market Statistics – June 2018

Market Statistics – May 2018

Contributors

Contributors

Contributors

Contributors

Contributors

Summary

Contributors

Summary

Contributors

Summary

Contributors

Summary

Contributors

Summary

Contributors

How to use the Rate of Return calculator

Rate of Return Calculator (2017) – Modified Dietz Method

Rate of Return Calculator (2016) – Modified Dietz Method

Rate of Return Calculator (2015) – Modified Dietz Method

Rate of Return Calculator (2014) – Modified Dietz Method

Contributors

Contributors

Contributors

Contributors

Contributors

Summary

Contributors

Summary

Contributors

Summary

Contributors

Summary

Contributors

Summary

Contributors

NBIN Best Execution Public Disclosure Statement

The Safe-Keeping of your Assets

Accounts and Services Agreement and Disclosures

Introducing/carrying broker disclosure statement

Opening Your Retail Account

Summary

Summary

Summary

Summary

Summary

Playing the Winner’s Game (Swedroe, 2013)

The Investment Answer (Goldie & Murray, 2011)

The Behavior Gap

Keeping the Cottage in the Family

Contributors

Summary

Summary

Summary

Summary