RDSP – Quick Fact Sheet

Registered Disablity Savings Plan can be a great tool to provide financial security for individuals with disabilities.

Below is a client-friendly piece outlining some of the advantages of an RDSP.

RDSP Quick Fact Sheet






























































Understanding MERs

With CRM2 coming into effect this Summer, all commissions including sales charges, trailers, and MERs, will be disclosed on client statements. It's a great time to remind your clients and jog their memories on mutual fund fees.

To help you with the conversation, click the link below to access a client-friendly piece on MERs.

Understanding MERs

Also check out The Value Of Advice piece under Advisor Articles for tips on how to start the conversation.






























































The 4 TFSA Accounts You NEED to Know

In case you haven’t heard, a TFSA is a tax free savings account introduced by the government a few years back. In a nutshell, you have to be 18 years (Ontario) and older to contribute to one and you can contribute $10,000 per year of your after tax income. You can withdraw the money any time but must wait until the next calendar year to put that money back (only if it exceeds your combined contribution limit) or else you’ll be dinged with over-contribution charges. Most people agree putting your money in a TFSA, as young investor is the smarter choice over a RRSP. You may think this is difficult for a student since you might have no source of income but you do have time on your side.

Here is what you can do with a TFSA:

TFSA as a savings account

    Most people use their TFSA’s as a high interest savings account or emergency fund of some sort. This is ok but at a rate of return of 1.2 to 2% that banks usually offer is pretty negligible, especially when inflation is around 2-3%.

TFSA as a GIC account

    A GIC is a guaranteed income certificate, whereby you put money in and it is locked in, meaning you don’t have immediate access to your money. The interest income is paid to you after you finish the term (it can be 1 year or 2 years or even 5 years). It’s a safe bet as the original amount you contribute is protected. The rates of returns are similar to a high interest savings account.

Mutual Fund TFSA

    For a mutual fund based TFSA you can have pre-authorized monthly contributions and put powerful dollar cost averaging on your side. This means that you neglect market timing (which takes the stress out of investing, though some people actually enjoy market timing and can get better returns if they employ value investing tactics). If you would rather have some help, there are many financial advisors, mutual fund advisors who can help you, though you have to be cognizant that some of the MER’s (management expense ratios) can be as high as 3.2%. However, if you wish to access your money sooner rather than later, investing with your TFSA may not be for you, because that $10,000 you put in your TFSA might be very realistically be only $7500. It’s hard to time the market and it really depends on your risk tolerance.

TFSA as a trading account

    If you consider yourself financially competent and market savvy a trading account might be the account for you. The good thing about using the TFSA as a trading account is that you don’t have to pay tax on your capital gains. However, you don’t get to use capital losses, either. HOWEVER, this is a big warning- if you think you might need this money in the near future, which is probably likely for young adults and students, investing your money can be very risky. You never know where the market might be when you need the money. You could have half of what you invested in the first place. Or vice versa. If you are willing to take that risk, then using your TFSA as an investment vehicle is for you.


3i Ins headerAs of July 1st, 2014, Canadian Financial Institutions providing financial products and services must comply with the Foreign Account Tax Compliance Act (FATCA).

What is FATCA?

FATCA is a U.S legislation intended to fins offshore accounts held by "U.S persons" who are bypassing U.S tax laws. Effective July 1st 2014, Canadian financial institutions will be required to report certain accounts held by "U.S persons" to Canada Revenue Agency (CRA).

Advisor Responsibilities

In the next few weeks, insurance and investment carriers will be updating the necessary forms to identify people who are U.S citizens for tax purposes. The new fields will be mandatory to fill out; and as a Financial Advisor, you are responsible for making sure that they are duly completed.

Financial institutions will then be required to disclose this information to the CRA, who will share the reports with the U.S Internal Revenue Service (IRS)

What is a U.S person? 

  • a citizen of the U.S (including any individual born in the U.S but resident in Canada or another country, who has not renounced U.S citizenship)
  • A lawful resident of the U.S (including a U.S Green Card holder)
  • A person residing in the U.S
  • A person may also be considered a U.S person if they spend considerable amount of time in U.S on a yearly basis (including snowbirds)
  • U.S Corporations, estates and trusts maybe also considered a U.S person

What type of accounts will be subject to reporting? 

Most types of accounts will be required to be reported, including bank, mutual fund, brokerage and custodial accounts, annuity contracts and some life insurance policies that have an investment of savings component.

The following registered plans are EXEMPTED from reporting:


For more information, visit this website

Join us for our annual open house!

In Collaboration with Manulife, 3i Financial Group Inc. is hosting our Annual Open House! Come and learn more about 3i and how our partnership can be a value to your business.

We welcome you to join us on Monday, Sept 22nd for a day of networking, learning and fun!

Below is the agenda for the day:

10:00am :  Networking Breakfast

10:20am :  Welcome

       ( Louise Tam & Samuel Chan)

10:40am :   Cross Selling Techniques

       How Annuity Can be Sold Back-to-Back with Life Insurance

       (Jeff Gorman)

11:30am :    Investments

       Winning the Client Mentality Warfare

        (Bob Lau)

12:30pm :   Lunch

1:30pm :     Discovering Disability Insurance

        (Jeff Gorman)

2:30pm:     Closing Remarks

       (Louise Tam & Samuel Chan)

* Kindly RSVP to Tabassum Bhayani at rsvp@3ifinancial.com by Sept 12th*

*CE Credits Available*



manulife invitation 5














































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Spam Law





Important: Anti-Spam Law legislation


Effective July 1, 2014, the Canadian government will be implementing a new law that will regulate the sending of commercial electronic messages to new contacts.

The law applies to emails, text messages and private messages on social media that encourage commercial activity. For example this includes:

-          Messages that sell or promote a product

-          Invitation to attend a presentation

-          Direct recipients to a web page

-          Invite recipients to contact you for a quote

-          Messages that ask for contact information

Commercial electronic messages must now follow THESE conditions

-          The recipient MUST PROVIDE their consent. Implied consent is no longer applicable

    • (emails found on websites are regarded as implied consent and can no longer be used as it will be breaching this law)

-          The content of the commercial electronic messages must meet the following conditions

    • Identifies the sender and their contact information
    • Includes an unsubscribe mechanism

-          IF you have already had prior contact with these individuals, you can still send them electronic messages until 2017 (with implied consent)

    • For these individuals – you should send them consent forms before 2017

FOR MORE INFORMATION VISIT http:/www.crtc.gc.ca/eng/casl-lcap.htm OR CALL KELLY!