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INCOME'S OUTCOME

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

Does Hiking Damage Your Wealth?

By: Graham Westmacott · September 22, 2016 - 0 comments

Should we fear rising interest rates?

The hiking in question is not in reference to outdoor pursuits but the impact of interest rate changes, especially ‘hikes’, on bond and equity returns. Our title is borrowed directly from an article that studied the impact on investor returns when central banks change short term interest rates. After a decade of falling interest rates, reaching a level that was the lowest since the US Federal Reserve was established in 1913, rates were increased in December 2015. Further rate hikes are widely anticipated, although the pace of further increases is uncertain. What are the implications for investors?

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Ask Bender: Why do you overweight Canadian stocks in your model ETF portfolios? (Part II)

By: Justin Bender · September 13, 2016 - 0 comments

In my last blog post, we found that overweighting Canadian stocks by about 30% (relative to a global market capitalization equity weight of about 3%) had historically resulted in a less risky portfolio. Obviously, this analysis gave no guarantee of the minimum risk portfolio going forward, but it did provide a useful starting point for discussion.

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Ask Bender: Why do you overweight Canadian stocks in your model ETF portfolios?

By: Justin Bender · September 7, 2016 - 0 comments

During periods when global stocks have been outperforming Canadian stocks, I receive a growing number of questions asking why my model ETF portfolios are skewed so heavily towards Canadian stocks (as one might imagine, I receive the opposite feedback when Canadian stocks are outperforming global stocks). The argument usually goes something like this: Canadian stocks make up just over 3% of the global equity markets – shouldn’t Canadian investors simply hold a 3% equity allocation to Canadian stocks?

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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.