{"id":21125,"date":"2021-04-29T23:43:01","date_gmt":"2021-04-30T02:43:01","guid":{"rendered":"https:\/\/thelaker.ca\/?p=21125"},"modified":"2021-04-29T23:43:01","modified_gmt":"2021-04-30T02:43:01","slug":"column-costs-matter","status":"publish","type":"post","link":"https:\/\/staging-z.thelaker.ca\/?p=21125","title":{"rendered":"COLUMN: Costs matter"},"content":{"rendered":"\n<p class=\"has-text-align-center\"><strong>By Jennifer Rideout, Wealth Advisor, Assante <\/strong><\/p>\n\n\n\n<p>It\u2019s natural for investors to be focused on costs. Higher costs eat into your returns, leaving you with less money at the end of the day. On the flip side, if you can efficiently lower your costs, your net returns will rise.<\/p>\n\n\n\n<p>That\u2019s the simple story. Problem is, many people just focus on one particular cost\u2014the fee paid to their advisor\u2014without considering the other considerable costs that can take their toll on a portfolio.<\/p>\n\n\n\n<p>The truth is, a management fee, while an important cost, is far from the only one you should be aware of. Here are some other costs that play a role in your investments over time, and how we try to minimize them for you:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Isolation Cost<\/strong>: Here at Assante, we practice what\u2019s known as integrated wealth management. That\u2019s just a fancy way of saying that we don\u2019t invest your money without being aware of your personal situation. Whether it\u2019s estate planning, cash flow requirements or risk management, we can do best for you when we consider all your needs.<\/li><li><strong>Tax Cost<\/strong>: Taxes can be a significant drain on an investment portfolio. They can reduce your investment gains by a huge amount (sometimes 25-50%). Over time, this can have a very negative effect on your portfolio. We seek to combat the tax cost by investing in a manner that reduces the amount of tax you will owe on any investment gains. Whether it\u2019s through RRSPs, TFSAs or corporate class investments, our tax strategies are aimed at improving your bottom line. We are supported by an experienced team of in-house tax and estate specialists. They are able to work with you and your professional advisors to keep your taxes low.<\/li><li><strong>Opportunity Cost<\/strong>: an opportunity cost is the cost of doing one thing when you could have done another. In other words, it\u2019s the lost benefit. If you watch a rerun of a show instead of going to the ball game, your opportunity cost is the enjoyment you would have had watching the Jays play. In the investment world, a key opportunity cost is having your money with the wrong advisor. This cost can be very high.<\/li><\/ul>\n\n\n\n<p>To avoid this kind of cost, we consult with you and come up with a detailed <strong>Investment Policy Statement.<\/strong> By taking into account your risk tolerance and personal situation, we formulate a strategy to help you achieve your financial goals. Having settled on a, strategy, we then create a balanced and diversified portfolio with a long-term outlook. We constantly monitor the markets and your specific holdings to make sure you\u2019re on the right track.<\/p>\n\n\n\n<p>The Cost of Only Focusing on Fees<\/p>\n\n\n\n<p>It\u2019s easy to think only about the fee paid to your advisor, but as you can see, there are costs lurking in the background that can have a much bigger effect on your financial well-being. We work tirelessly to minimize them for you. That\u2019s the benefit of Assante advice.<\/p>\n\n\n\n<p>Jennifer Rideout<\/p>\n\n\n\n<p>Wealth Advisor<\/p>\n\n\n\n<p>Assante Capital Management Ltd.<\/p>\n\n\n\n<p><em>Assante Capital Management Ltd. is a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see a professional advisor for individual financial advice based on your personal circumstances.<\/em><\/p>\n\n\n\n<p>[adrotate banner=&#8221;63&#8243;]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Jennifer Rideout, Wealth Advisor, Assante It\u2019s natural for investors to be focused on costs. Higher costs eat into your returns, leaving you with less money at the end of the day. On the flip side, if you can efficiently lower your costs, your net returns will rise. That\u2019s the simple story. Problem is, many [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":21137,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[111,997],"tags":[1364,2,1350,1271],"class_list":["post-21125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-column","category-columns","tag-assante","tag-fall-river","tag-finances","tag-jennifer-rideout"],"_links":{"self":[{"href":"https:\/\/staging-z.thelaker.ca\/index.php?rest_route=\/wp\/v2\/posts\/21125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging-z.thelaker.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging-z.thelaker.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging-z.thelaker.ca\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/staging-z.thelaker.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21125"}],"version-history":[{"count":0,"href":"https:\/\/staging-z.thelaker.ca\/index.php?rest_route=\/wp\/v2\/posts\/21125\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging-z.thelaker.ca\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/staging-z.thelaker.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging-z.thelaker.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging-z.thelaker.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}