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THINK OF US AS ALOE FOR MARKET BURNS.

At PWL Capital, we’re on a mission to change the way Canadians invest. We take the guesswork out of managing your portfolio.

No fads. No guesswork. No drama.

Who We Are

PWL Capital is a privately owned wealth management firm that manages more than $1 billion in client assets. PWL provides discretionary portfolio management services with integrated financial planning from offices in Montreal, Toronto, Ottawa and Waterloo.

What We Do

Premium Ongoing Service

Our clients benefit from semi-annual performance reporting, regular meetings, financial planning, and systematic rebalancing.

Unbiased Financial Advice

We are paid directly by our clients, so our advice is never influenced by commissions or incentives from financial products.

Science-based Portfolio Management

We focus on what we can control: selecting an asset mix, managing risk, minimizing fees and taxes, and encouraging discipline.

Blogs

Emerging Markets: Time to Exit?

By: Raymond Kerzérho · September 4, 2015 - 0 comments

The turmoil in the Chinese stock market has been in the press for a few months now. Investors are increasingly worried about Emerging Markets (EMs), which have underperformed Canadian, U.S. and International Developed equity markets over the last five years. An extremely negative article in the Guardian seems to give credibility to those worries. But are they justified?

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Expected returns vs. hoped for returns

By: Ben Felix · September 3, 2015 - 0 comments

Expected returns stem from the idea that investors need to be paid a return for taking on the risk of owning securities. No investor would own securities without having the expectation of returns, and as the securities being owned get riskier, the investor will expect increasingly higher returns. If there were no reason to expect higher returns for holding riskier investments, investors would only hold less risky investments. Stocks are risky investments, and investors have been compensated well for owning them. Bonds are less risky investments, and investors have not been compensated as well for owning bonds as they have been for owning stocks. Expected returns are based on the risk of the overall market (systematic risk), assuming that the risk associated with any individual security (non-systematic risk) has been eliminated through diversification. This is an important distinction; the securities of any individual company are exposed to random error (CEO gets sick, hurricane knocks out the manufacturing plant, etc.) and do not have an expected return. The stock can either go up, or it can go down, and the average of its expected outcomes is zero.

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Should I Rebalance My Portfolio Now?

By: Justin Bender · August 27, 2015 - 0 comments

Many investors consider the recent stock market pull-back to be a great buying opportunity, and are eager to rebalance (at least the ones that aren’t panicking and selling their stocks). But should they rebalance now, or wait a bit longer?

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Portfolio Management and brokerage services are offered by PWL Capital Inc, which is regulated by Investment Industry Regulatory Organization of Canada (IIROC), and is a member of the Canadian Investor Protection Fund (CIPF).

Financial planning and insurance products are offered by PWL Advisors Inc., and is regulated in Ontario by Financial Services Commission of Ontario (FSCO) and in Quebec by the Autorité des marchés financiers (AMF). PWL Advisors Inc. is not a member of CIPF.