We’ve Planned Over $625,000,000 For Canadians!
It’s exciting and humbling to see how quickly the CI Direct Investing (formerly WealthBar) community has grown since we started. Tea and Chris, our co-founders, had an idea; they wanted to help their friends and family get access to specialized investment options and advice typically only available to the very affluent. This idea bloomed into something much more ambitious and exciting: convenient, transparent, and cost-effective investing and financial planning for all Canadians.
Our mission at CI Direct Investing is to evolve the way Canadians invest and save. We have helped thousands of Canadians, ages 18 to 88, from across the country and abroad, plan their finances and invest their money. Today, we’re happy to say that we’ve helped Canadians plan over $625,000,000 worth of their investment assets. We’ve also helped our clients save thousands on fees and hundreds of hours by making investing easy and accessible from anywhere in the world, at any time.
We want to thank you, our CI Direct Investing community, for helping us achieve this milestone. To celebrate this incredible occasion, we’re sharing just a few stories out of hundreds of CI Direct Investing clients that we’ve helped.
Jean-Luc and Josyane
Montreal, QC – Age 30/33
Helped them save fees each year and consolidate their financial picture
Jean-Luc and Josyane both have good paying jobs and work full time while raising a young daughter. Despite the fact they were saving regularly they were struggling to make sense of their finances and had various investment accounts at 4 different financial institutions. They didn’t know how much they were paying in fees, what their overall performance was, or even what they were really invested in. Things needed to be simplified.
We helped them make sense of their overall situation with our financial plan. We showed them how they can save for their daughter’s education while staying on track to pay off their mortgage early and to reach their retirement goals. By consolidating nearly all of their investments into CI Direct Investing’s ETF portfolios, they are saving fees each year. They love having everything in one place now and making it easy to understand their performance, their fees, and progress towards their goals. Rather than dealing with 4 advisors, they now just deal with one, saving them a ton of time too.
Edmonton, AB – Age 57
Helped Robert create a plan that allowed him to keep his home and realize he can retire in 3 years
Robert was a recent widower and was looking for help to understand how his financial picture has changed since his wife’s passing. He was expecting a lump sum payment from his wife’s estate and wasn’t sure what to do with the money. He didn’t know when he could afford to retire and needed help figuring out what to do.
We helped him understand his various options for how to use the money from his wife’s estate. His two biggest concerns were whether to stay in the house he and his wife called home for so many years and how to know when he could afford to retire. We reviewed his overall situation, including the expected payment from his wife’s estate, his existing investments and debts, and his workplace pension plan. We helped him decide to use some of the money to pay off his mortgage and to add a rental suite. These changes allow him to retire in 3 years and stay in his home, with enough left over to maximize a new TFSA.
Robert was so relieved to know he could achieve the goals that he decided to move all of his investments to CI Direct Investing. He wanted to know that his investments were built to last through the ups and downs of the market, and he liked the peace of mind provided by our private investment pools. Robert feels comfortable having more downside protection because of the broader diversification the private investment pools provide.
Mark & Penny
Toronto, ON – Age 63/58
Saved them $44,600 in taxes on the sale of their investment property
Mark and Penny live in Toronto, but own a condo in Vancouver that they’ve been renting for a few years. They bought the Vancouver condo a while ago and it has substantially appreciated. Mark and Penny would like to sell their Toronto condo and retire to Vancouver to be closer to the family.
They had a couple of RRSP accounts scattered around different financial institutions and did not have strong relationships with their advisors.
We helped them create a plan where they would sell the Toronto condo and move to their Vancouver condo. Mark and Penny had an option to defer capital gains accrued while they were not living in their Vancouver condo, but instead, we helped them offset them with a lump sum deposit into their RRSP accounts. Mark had substantial room in his RRSP and this was a way to reduce and redistribute the capital gain taxes from his condo sale. This way, Mark and Penny won’t compromise their nest egg, while keeping their tax bracket low in retirement.
A portion of their Toronto proceeds was used to fund their TFSA accounts so that they have the flexibility to make large one-time purchases in retirement. Mark and Penny also own a home in the Caribbean islands. They are looking forward to spending Canadian winters there and spending more time with their Vancouver family during the summers.
Albert and Ava
Vancouver, BC – Age 49/48
Helped them save over $2500 annually in taxes
Albert and Ava live in Vancouver and own several properties around the province. Albert works for a publicly traded company and recently had a large restricted stock unit (RSU) payout from his work. Albert and Ava came to CI Direct Investing to help them sort out the best way to invest the proceeds of the RSU’s to fund their future retirement. They also wanted a plan to handle the potential disposition of their properties over the next 10 years, as they get ready for retirement.
Since Albert’s salary is high and Ava does not work, we recommended that Albert loans Ava the RSU proceed at a prescribed interest rate loan and that she invests it in her name. That way, Ava would be responsible for tax on growth and proceeds from the non-registered account and Albert would only have to pay the tax on the interest from the loan. Over time, Ava will repay the loan to Albert as TFSA contribution room frees up. By the time they retire, they will have fully funded TFSAs and Ava will have repaid the loan to Albert.
This saved them over $2,500 in annual taxes and created a good system to fund their TFSA’s for additional flexibility in retirement. Albert and Ava plan to sell their current home and move to a recreational property they own once they retire. Once their daughters have finished their post-secondary education, Albert and Ava look forward to an easy retirement in Victoria.
These are just a few stories of the clients we’ve helped and every day we are helping create dozens more. Will CI Direct Investing help you to write your financial success story? We hope so. Get started today, talk to one of our advisors, today.
(Don’t worry, we’re serious about your privacy too. While these stories are all true, we’ve changed the details and names to respect that.)