| A deposit broker is an independent
financial professional who specializes in guaranteed investment products
such as GICs, term deposits, RRSPs, RRIFs and LIFs. It isn't easy
to find this degree of specialization in a world that is inclined
to focus on investments that carry higher risk and require sophisticated
investor market knowledge.
Deposit brokers monitor interest rates and available products on
a daily basis to help you get the best possible returns from a wide
range of deposit instruments. Because product availability, demand,
and volumes vary daily with each financial institution, new opportunities
for better rates are constantly being created. Typically, a deposit
broker can find you rates that are up to 1% better than the retail
bank-posted rates. That can earn you hundreds of dollars more -
without the slightest increase in risk.
A deposit broker saves you time and effort, serving as a one-stop
shopping centre for all your guaranteed investment needs. While
stockbrokers often prefer to sell bonds from their company's inventory,
a deposit broker always has access to the terms and payment options
that suit your needs. Your deposit broker will get you the right
registration (jointly with your spouse, for example) and guide you
on insurance limits. They are often qualified to handle many of
your other financial needs such as insurance or mutual funds, as
well.
With GICs and other guaranteed investments you pay no fees or commissions
to deposit brokers. This ensures you receive unbiased advice and
recommendations, and that your best interests always come first.
Deposit brokers can give you the best rates, for free, because they
have access to the large-volume selections available through the
vast network of financial institutions. The institutions pay them
a finder's fee, which means you don't have to.
All of the financial institutions represented by the broker are
members of CDIC, Assuris or a provincial deposit insurance organization,
so you also enjoy the peace of mind that comes with knowing your
money can be protected, within their insurance limits.
With deposit brokers who are registered members of the Federation
of Canadian Independent Deposit Brokers (FCIDB), you can take extra
comfort knowing that they are committed to the highest standards
of service and subscribe to a code of ethics.
Make your life easier and your savings work harder. Get a GIC specialist.
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