A friendly reminder to please let us know if any of your contact details change, including addresses, email addresses, and phone numbers.
Also, we have received an increased number of bank drafts of late. Unfortunately, bank drafts require “proof” that the funds came directly from your bank account and there may be delays in depositing to your Richardson Wealth account. This rule is in place to comply with Anti-Money Laundering regulations. Whenever possible, the preferred forms of deposit are cheques, online deposits and wire transfers.
If a bank draft is received, the following are acceptable forms of “proof”:
- a letter/email from your financial institution confirming the origin of the funds (including name and bank account number).
- your name is embedded on the bank draft’s purchaser line, indicating you are the purchaser (cannot be handwritten).
- a receipt from your bank showing the purchasing account and your name.
- a bank statement showing your name and the amount being withdrawn.
As always, please contact the team if you have any questions.
Why investors should focus on generating the best total return, not the best yield — Financial Post
Yield-focused portfolios aren't well diversified and prone to getting hit harder during market meltdowns and suffering permanent losses.
There’s nothing normal about this recovery — First Trust
We keep hearing people make comparisons between this recovery and those of the past as if it’s apples-to-apples. For example, comparing job growth today to job growth after the 2008-2009 Panic. All in an effort to make the case that government spending creates economic growth. But there is nothing normal about the current economy.
The world has a new richest person — Visual Capitalist
Step aside Bezos and Musk, at least for the time being. Bernard Arnault, the French luxury tycoon, is the world's richest person with $186.3 billion in net worth.
Impact of ICBC changes
I just went through the process of renewing my ICBC coverage. There have been many changes of late and it is important to get the advice of an insurance broker, who can walk you through these changes. One thing to note: the new “no fault” coverage does not extend to out of province travel or travel to the United States, so be sure you have adequate liability coverage in place, for when we are allowed to drive South again.