Q4 2023 Preparing for Client Meetings (Advisor Dashboard)

We hope you had an enjoyable holiday season and wish you a successful and prosperous 2024.

Each year, January signals the start of RRSP season. Begin your 2023-2024 RRSP campaign by encouraging your clients to top up their RRSPs.

The start of a new year is also the time when many of your clients will begin thinking about preparing their annual tax return.

Below are some helpful resources you can access during client meetings when these topics arise:

Additionally, your personal website contains many other articles on RRSPs and taxes that you can share with clients and prospects to help address their questions and interests.

Visit the E-Learning Centre to see what's available. We are continually adding new articles and updating existing articles—and welcome your suggestions for new topics we should cover.

Market valuations have improved but the potential for volatility persists due to stubbornly high inflation and elevated interest rates.

It remains very important to communicate regularly with your clients about the ongoing market uncertainty and the impact this has on investments.

Globally, central banks are continuing to apply high interest rates to undercut inflation—and as long as the high rates continue, markets will be held back. In the face of this, a strong positive message you could put forward is that history has shown us repeatedly there are investment opportunities in every economic environment. Here are some ideas for how you can help your clients in the current market:

  • Take advantage of high GIC Rates. Interest rates on a GIC have become much more attractive. As of December 31, 2023, 1-year rates were as high as 5.25%. Consider allocating a portion of your clients’ portfolios into a short-term GIC.
  • If you don’t want to lock up money for a year, consider parking it in a high interest-rate account or money-market fund.
  • If you have a client who has a lump sum to invest but is nervous about the current market volatility, consider putting the funds into a money-market fund and then setting up a systematic switch into the fund(s) intended for longer term growth to allow for dollar-cost averaging (DCA). DCA is a great strategy for down markets.

After receiving their Q4 statements, your clients may have questions about their portfolios. Take charge by having frank conversations and offering options. This is exactly where your expertise and cool head becomes your value-add to the relationship. Your clients are looking for guidance, and it’s very important that you are their source, not the Internet or another competitor promising better returns.

Here are some additional resources you can share with your clients:

The Value of Advice

Canadians with financial advisors are more confident  about their future.

Need Advice?

Are you reviewing your investment plan or financial plan for retirement? We encourage you to contact us to arrange a no-obligation meeting to discuss your options.

Need Advice?

Are you reviewing your education savings plan? We encourage you to contact us to arrange a no-obligation meeting to discuss your options.

Client Relationship Document

We’ve developed a plain-language document that describes the relationship between you and your GP Wealth Financial Advisor or Planner.