We recently spent a few days in Quebec City at the Investia Financial Services Inc. National Conference.  As our head office is based out of this beautiful city they thought that it would be nice for advisors from across Canada, including ourselves to see Investia on its home turf so to speak AND it did not disappoint.  We were treated to a personal tour of the Investia Head office by Louis DeConinck -the President of Investia.  We were intrigued by the structure of how the head office was designed. The past few years they have combined the old original buildings inside the newly constructive renovations – the original brick and windows remain intact.  The company, as well as the city is steeped in history, and tradition with an introduction of the new and modern aspects that are necessary in today’s world.  The office environment is bright and cheery and encompasses the philosophy of work from anywhere.  On any given day any of the management team could be sitting beside any of the employees.  It is a very efficient and friendly work environment.

We are pleased to have chosen to work with Investia, as our Dealer – as the firm is on the cutting edge of many aspects of the Financial Services industry, specifically in the areas of technology, service and privacy.

Throughout the week we listened to many presentations on leadership, operational excellence, communication and of course the markets.  Sebastian McMahon, the Chief Economist at iA Financial Group, provided us with an insight on The Economy & The Financial Markets.  We have summarized some of his comments below that we thought you might find interesting:

  • Overall, there is a positive sentiment regarding the markets

  • We are likely heading into a coin toss of an election in the US, likely ending in a divided government – so essentially the status quo will remain for the next number of years in the US

  • Central banks will start/continue easing – this means that we should continue to see a decline in interest rates going forward

  • There are over 100 central banks in the world – currently “central banks are cutting rates in synchronization” (S. McMahon)

  • There is more sensitivity in the Canadian housing market with decreasing interest rates than in the US (the difference being our 5- year mortgage terms versus the US 30- year mortgage terms)

  • The markets always look 12 months ahead

  • Economists (including Sebastian) meet with the Bank of Canada every 6 weeks and attend an annual meeting in Ottawa – they stay on top of what is going on in Canada and around the world

  • The typical household is saving more

  • Inflation is basically back under control; however, many items are still more costly than they were a few years ago

  • The population growth will continue to increase the demand in housing

  • As always diversification is key…….there are multiple drivers in several sectors of the economy – i.e. US technology (AI) and Canadian commodities; balance sheets in many of the companies are in good shape – the companies do not seem to be worried about the Canadian debt levels or population growth

We are here if you have any questions related to the above information or your portfolios, or your family’s financial situation.

Enjoy the fall colours AND if you ever get a chance to go to Quebec City, the three of us would highly recommend it.  Bring your walking shoes and your appetite for good food and some wonderful Canadian history in any season!

Health, Happiness & Success!

Deb, Kelly and James