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Five Summer To-Do’s

Here are five great reasons for you to contact your clients:

  1. With all this market volatility, it is a great time to rebalance portfolios and perhaps lock-in some capital losses for clients’ non-registered accounts. These can be used to offset past (up to three years ago) or future capital gains.

  2. For your clients turning 71 this year, start preparing their RRIFs and LIFs. They will have to start taking income in 2023. And you may get an opportunity to consolidate their registered investments in one place.

  3. For you clients over 65, perhaps start a mini-RRIF of $2,000 per year to take advantage of the pension tax credit. This mini-RRIF will run from age 65 to 71.

  4. 10% free, for eligible contracts and clients, move 10% of their DSC units to front-end-load units. This gives the client more flexibility and increases your revenue. But there is a BIG caution here: Do not do this with GMWBs, the switch will be deemed a sell and a buy and therefore no bonus will be credited for the year.

  5. Approach grandparents about RESPs for their grandchildren. Grandparents like to spoil their grandkids with gifts and toys. Why not redirect some of this spending towards RESPs?

As always, we look forward to your comments.

Scott Edgington, CEA

Regional Director, Business Development Wealth

Qualified Financial Services

Rick Gallant Regional Director, Business Development Wealth

Qualified Financial Services

This communication reflects the views of Qualified Financial Services Inc. as of the date published. The information in this publication is for general information purposes only and is not to be construed as providing individual legal, tax, financial or other professional advice. Qualified Financial Services Inc. assumes no responsibility for any errors or omissions in the information contained herein nor for any reliance placed on such information. Please seek independent professional advice before making any decisions.


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