Toronto Team  

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  • Toronto, Ontario M5E 1M2

Norbert’s Gambit at NBCN

By Justin Bender · November 13, 2014 - 0 comments

It’s been over two years since I first wrote about using Norbert’s gambit in client accounts to cheaply convert Canadian dollars to US dollars (and vice-versa). Various white papers followed, showing DIYers how to get around the big banks’ high currency conversion costs. I even spoke with a few advisors and portfolio managers who had recently started implementing gambits in...

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Tax Loss Selling Results

By Justin Bender · October 31, 2014 - 0 comments

When life gives you lemons, make lemonade. That’s how our team in Toronto has been reacting to the recent market volatility. In the context of this common phrase, the lemons are the stock market losses and the lemonade is the deferred capital gains taxes. Shortly after announcing our company’s new tax loss selling software, we initiated the following tax loss selling trades for a...

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When should I use the BMO Discount Bond Index ETF (ZDB)?

By Justin Bender · October 28, 2014 - 4 comments

The BMO Discount Bond Index ETF (ZDB) has been slow to gather assets since its launch in early 2014. This may be due to investor inertia or confusion over the reasoning behind holding discount bonds. There are generally two situations in which an investor may want to consider investing in ZDB rather than the more popular BMO Aggregate Bond Index ETF (ZAG): 1. They hold all of their bonds i...

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Vanguard Lowers Their Fees...Again

By Justin Bender · October 9, 2014 - 3 comments

The race to the bottom continues as Vanguard Canada recently lowered the fees on 11 of their ETFs. The cost that investors will pay to construct a balanced portfolio of Vanguard ETFs is now just 0.13% (the same cost as a similar portfolio from iShares, and slightly cheaper than one from BMO). iShares and BMO have also taken action to improve the tax-efficiency of their international equity...

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The PWL Tax Loss Selling Report

By Justin Bender · October 3, 2014 - 0 comments

It’s finally here! While many Canadians were gearing up for the much anticipated iPhone 6 launch, I was patiently awaiting an upcoming portfolio management software release: the PWL Tax Loss Selling Report. PWL advisors can now generate a report that shows all non-registered client accounts that have unrealized capital losses. Any capital losses realized must first be used to offset ...

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