What it Means to “Live Wealthy”

What do we really mean by Live Wealthy when we consider how to best manage our clients’ finances? At Precision Wealth, we believe this means something much deeper and more significant to the human experience than traditional definitions suggest.

First, let’s consider the definitions:

Definition of “wealth”  welTH – Noun

An abundance of valuable possessions or money; e.g., “He used his wealth to bribe officials.”
Affluence, prosperity, riches, means, substance, fortune:

the state of being rich; material prosperity; e.g., “Some people buy boats and cars to display their […]

Read more...

Reflecting on a Turbulent Year: Diversify, Stay Disciplined

This past year the markets fluctuated again and again. After years of low volatility, this year saw lots of volatility, especially towards the end. We’ve written about this recently, and believe it’s important to go back to our core thesis: Markets work.
Markets are Unpredictable Short-Term
The uneasy part of the market is that no one knows where it will go short term. There are many articles in the media telling you which way it’s going to go and when. That […]

Read more...

Rise Above Advertisements with Misleading Claims

I’m sure many of you have seen the Questrade TV advertisements that steadily feature a blasé or disinterested Investment Advisor sitting with his informed client. The premise is that the Advisor is indifferent and charges exorbitant fees for investments. The client is there to inform the Advisor that they are moving their account, and tell them they can get their services cheaper—up to 30%—with Questrade.
On so many levels, this series of ads make me uneasy. Here are my viewpoints:

There […]

Read more...

Fasten Your Seat Belts for Market Turbulence—Keep Your Eyes on the Destination

To anyone who has travelled, a familiar announcement over the loudspeaker goes something like this:
“Ladies and Gentlemen, this is your Captain speaking. We are experiencing some turbulence and we ask you to remain in your seats with your seat belts fastened.”
This is an easy quote to apply to the current conditions in the stock market, and those seen in the past few weeks. I do think though, that the Captain could easily add some crucial points:

Despite the turbulence, which […]

Read more...

Looking Beyond ‘Problem Ahead’ Market Headlines

We have now entered the final quarter of 2018 and the somewhat typical, late year market volatility is upon us. More specifically, the types of market fluctuations that are often associated with October are occurring—not that I feel this will be an October like 2008.
Finding a Balanced View
Much is debated recently in financial media about the lateness of the business cycle, and the high valuations of the stock market generally, not to mention the daily published barrage of ‘end […]

Read more...

GIC Rates Centre

Precision Wealth Management is pleased to announce the launch of our GIC centre on the main website. Please look at banner at the top for Today’s GIC Rates. We update daily. We will add an option to have you sign up for a weekly email showing best rates of the week.
As Registered Deposit Brokers we can offer you the best GIC rates from dozens of major financial institutions. Because we are independent, we have access to many institutions and […]

Read more...

A Look Behind the Scenes

On April 17 our Advisory team attended a full day learning event in Vancouver. We had the chance to connect in person with top managers and strategists in the money management industry. Eight different Portfolio Managers discussed current market conditions and economic events. After a long day of deliberation, we left with extensive notes and several points to share with you.

Key Take-Aways

The 2018 outlook remains robust because of solid earnings and favourable US tax policies, but caution is needed […]

Read more...

Who’s the Boss?

I still recall clearly, as a newly minted Insurance and Investment Advisor, back in the 1990’s, reading and accepting the Code of Ethics. In particular, the duty to ‘act in the best interest of the client’. Nothing else ever occurred to me (Advisors actually have to agree with this?) and I accepted it as perhaps a legal standard but most certainly as the ethical one. What other way is there? It is now with fascination, and some disbelief, I […]

Read more...

Will Power

It’s Make a Will Week. How exciting huh? As if tax season wasn’t enough fun.
It remains remarkable to me that so many people have not bothered to make a will, or have not updated theirs to reflect changes in their situation. In our role as Financial Advisors, we have a duty to motivate our clients to completing this, obviously, important task. We are to be a catalyst in this. To that end, we have many suggestions, we are willing […]

Read more...