Richardson GMP

Jefferson|Steele Partners announcement

In case you haven’t had a chance to review the Partners’ Letter we mailed to all clients just prior to Christmas, we are very pleased to let you know that as of January 1, 2018, Neil Kumar is officially a Partner in Jefferson|Steele Partners. As a Portfolio Manager, Neil is a key member of our team. As a member of our Asset Allocation Committee and head of our Due Diligence Process, his contributions impact all of our clients. As well, many of you know him as your client relationship manager and key point of contact. He will now add Vice President, Portfolio Manager to his business card. Join us in congratulating Neil.
Dwight & Tyler

2017 taxes

Hurry up and wait! It’s that time of the year again…
We understand that many of our clients like to get your taxes done early and avoid that end of April chaos. We know that your accountants would like that too. However, CRA doesn’t make that possible for many of us. Why? Because the information needed to produce some tax slips isn't available until as late as March 31st. Remember, companies and funds must complete year end audits before they can provide the information to us and to you.
The majority of Richardson GMP tax slips will be mailed to clients late February/ early March. However, the deadline for T3 (Statement of Trust Income) and T5013 (Statement of Partnership Income) mailings is not until March 31. Also, if you had any sells, maturities or redemptions in your non-registered accounts, the Trading Disposition Summaries are not mailed until early April. This to make sure that the summaries accurately capture any Return of Capital transactions.
So set your expectations accordingly, and when you get your Tax Slip Checklist from us, make sure you and your accountant wait for all the slips before filing your return. As always, feel free to contact us with any questions.

Willing Wisdom by Tom Deans

Book review by Eddie
I met Tom Deans through a work event and then purchased his book, Willing Wisdom, which I read in three sittings. It’s all about family planning, transparency, having open conversations; in particular having a well thought out and properly communicated will. We’re all going to kick the bucket one day and this got me thinking about how we communicate within our own families.

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Performance based on account type

In January each year, clients receive annual performance reports for your accounts at Richardson GMP. The reports show how you have done as a household as well as account by account. You may notice quite a variation in the performance of one account to another, if you have a registered account (such as RRSP, RRIF or TFSA) as compared to a non-registered (or taxable) account. We thought you might be curious as to why there would be difference in performance.

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Russell Investments: 2018 Global Market Outlook

Running with the bulls

Our central view is that equity markets can push higher before facing headwinds later in 2018 as markets factor in rising risks of a 2019 recession. Running with the bulls can be dangerous. It’s easy to get swept up in the elation of the crowd and underestimate the risks.

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Lorica: What we think…

The consensus forecast for global growth in 2018 is 3.6% according to Bloomberg*. The IMF says it will be slightly higher at 3.7%, while the economists at Goldman Sachs forecast an even higher 4%. So why all the optimism? It is the first time in many years that most advanced and emerging economies are expected to grow synchronously, thus bettering expectations a year ago when there were suspect regions — notably Europe and OPEC countries (and even Canada).

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RRSP and TFSA reminders

The deadline to contribute to your RRSP for the 2017 tax year is Thursday, March 1, 2018. The maximum contribution amount for 2017 is $26,010, or 18% of earned income in 2016, whichever is the lesser amount. Your Notice of Assessment from CRA will indicate if you have any additional contribution room.

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Dwight Jefferson, CIMA®
Senior Vice President
Portfolio Manager
Tel.: 604.640.0555 • Email

Tyler Steele, CFA
Senior Vice President
Portfolio Manager
Tel.: 604.640.0554 • Email

Neil Kumar, CIM®
Vice President
Portfolio Manager
Tel.: 604.640.0406 • Email

Eddie Gudewill, CFA
Portfolio Manager
Tel.: 604.640.0562 • Email

Wendy Lloyd
Tel.: 604.640.0556 • Email

Jessica Dewey
Tel.: 604.640.0405 • Email

Brenda Geib, BA
Tel.: 604.640.0559 • Email

Richardson GMP Limited
500 – 550 Burrard Street
Vancouver, BC V6C 2B5

Toll Free: 1.866.640.0400
Fax: 604.640.0300


The opinions expressed in this report are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Richardson GMP Limited or its affiliates. Assumptions, opinions and estimates constitute the author's judgment as of the date of this material and are subject to change without notice. We do not warrant the completeness or accuracy of this material, and it should not be relied upon as such. Before acting on any recommendation, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Past performance is not indicative of future results. The comments contained herein are general in nature and are not intended to be, nor should be construed to be, legal or tax advice to any particular individual. Accordingly, individuals should consult their own legal or tax advisors for advice with respect to the tax consequences to them, having regard to their own particular circumstances. Insurance services are offered through Richardson GMP Insurance Services Limited in BC, AB, SK, MB, NWT, ON, QC, NB, NS, PEI and NL. Additional administrative support and policy management are provided by PPI Partners. Richardson GMP Limited is a member of Canadian Investor Protection Fund. Richardson is a trade-mark of James Richardson & Sons Limited. GMP is a registered trade-mark of GMP Securities L.P. Both used under license by Richardson GMP Limited.