Joseph Karim

This is going to have very averse impacts on consumer spending in Canada. Impacts that will likely last for years even if we see significant rate cuts out of the BoC.

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𝗧𝗛𝗘 𝗪𝗘𝗘𝗞𝗟𝗬 𝗥𝗘𝗖𝗔𝗣 𝗢𝗙 𝗘𝗧𝗙 𝗜𝗡𝗗𝗨𝗦𝗧𝗥𝗬 𝗡𝗘𝗪𝗦 - #𝟰𝟴 This week, I'm expanding my coverage to include the Canadian #ETF market. So, here are the latest news and updates from the U.S., Europe and Canada. Like👍, Repost🔄and ➕Follow me for ETF Industry News and Insights.

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Who's getting funded in Canadian Fintech? 👇 Neo Financial raised $360m in debt and equity. The Canadian founders of Shopify, Slack, and PointClickCare particpated in the round. goeasy Ltd., a large subprime consumer lender, has reduced their cost of borrowing to sub 6% in a recent US $400m and CAD $150m offering. Reactiv, an Ottawa based mobile app builder, raised $5m. The founding team comes from Shopify. Revyl (YC F24), a Canadian founded platform to catch and triage software bugs, raised $1.5m led by Panache Ventures. Stack Capital, a TSX traded company that invests in pre-IPO equities, raised a $16m private placement. FutureMoney, a Boston based fintech allowing parents to invest on behalf of their children raised $2.5m from Canadian funds Harvest Venture Builder Inc. and Mistral. Prior to this, the founder launched and sold Moka Financial Technologies to Mogo in 2021 for $64m. Procurify, a Vancouver based spend management platform, raised a $28m debt round from CIBC Innovation. They raised $68m in equity last year. SkyCap Financial, a Kingston based consumer lender, raised a $50m debt facility. -- Want more? Subscribe to the Canadian Fintech Newsletter in the comments below 👇

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Canadian banking is archaic. Last week, I sent in paper work to open business investing accounts — sounds simple enough. After several phone calls and emails, I was asked to print, sign and scan 20 pages of PDFs. After convincing the agent to include me in their *trial* of Docusign, I was contacted today to say the back office wasn't prepared to process digital signatures. Despite already being a personal and business customer of this bank, I'm essentially starting from scratch -- it would have been as-easy to cross the street to a competitor. We hear a lot about Canada's productivity problems. Even our most profitable sectors are weighing down Canadian business owners and slowing the deployment of capital. At this point, I see only two paths forward. We hope for incremental progress that makes all of this *slightly* less painful, or we embrace innovation happening at the cutting edges of technology to not only catch up to Canada's peers, but take a leadership role in the internet-based economy. I know which path I'm 'banking' on (pun intended).

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Check out the latest ep of First Cheque Podcast with the amazing Christina Fa! The latest and one of the greatest episodes from the dynamic duo of Cheryl Mack and Maxine Minter. Catch it where you listen 🎧 to your favourite podcasts. #angelinvesting #firstcheque #australia

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In this edition of the Optimize Weekly Market Recap, our Portfolio Manager, Josh Brown, discusses the Bank of Canada's inclination toward a rate cut amid cooling inflation, the robust consumer spending evident in U.S. Q1 GDP, and how a surge in tech earnings is bolstering investor confidence. (Source: Refinitiv - Optimize) https://lnkd.in/gqXmAr9v #OptimizeWealthManagement #Optimize #OptimizeWealth #FinancialPlanning #PortfolioManagement #FinancialProfessionals

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The current rate sits at 3.75% which means by this time next year, Canada's banks expect between a 0.75 and 1.75 drop (that's over a 50% decrease and is considered VERY aggressive). Even despite the justification the government and Bank of Canada may have for maintaining these higher rates, the fact is we can't keep them higher. 1) Lowering our interest rate lowers our dollar. We currently have a ton of trade with the US and thanks to Trump, American importers are going to see a 25% tariff on Canadian goods. BUT a ~25% drop in our dollar keeps prices the same for these American importers. So we'll essentially be discounting ourselves to offset the tariffs. 2) Canada's productivity is abysmal. We don't invest publicly in better infrastructure or other means of improving the Canadian economy. So to stimulate the corpse, policymakers and the central bank will have to decrease rates as a shock to the system. We can't spend our way out of this through fiscal policy anymore. 3) Although we're not going to follow the projected trend line on rates like everyone had originally projected, we're still going to see lower rates. We have a government that wants to spend like no tomorrow but even their efforts can't stave off the fact that Canada needs some life support. Rates MUST come down. 4) We don't look good on an international stage for prime credit. There are only so many ways you can put lipstick on a pig. However, there is still plenty of wealth in Canada with an abundance of natural resources and work ethic that prop us up (read: set a floor). Foreign capital that is interested in non-prime credit is about to see the largest windfall opportunity in the G20.

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Are Banks Going to Offer Better Mortgage Rates in 2025? RBC analysts seem to think so. An article published Nov 12, 2024 in the Financial Post suggests that a "Mortgage War" may be on the horizon as 55% of all mortgages with Canadian banks are set to renew in the next two years, 85% within the next three years. As a homeowner and real estate investor, I sure hope that's true. If the analysts have a clear vision of the future, how can a competitive market benefit buyers, sellers, and housing affordability across Canada. On a personal basis, a competitive mortgage environment would definitely benefit homebuyers and homeowners ready to renew their mortgage as the banks would likely offer attractive rates to lure in customers. And, sellers would also benefit as more buyers enter the real estate market and potentially drive house prices up... maybe way up. On a macro level, housing affordability across the country may suffer significantly, making it nearly impossible for the next generation to afford a home... in essence pushing the current lack of affordable housing over the deep end. #MrRealEstateToronto https://lnkd.in/gaGenybM

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Looking to boost your credit score? Learn how to fix bad credit in Canada by managing debt, making timely payments, and monitoring your credit report for errors. Small changes can make a big impact on your financial future. #CreditScore #FinancialHealth #DebtManagement #MoneyMatters #FinancialAdvisor https://lnkd.in/g_iNHG-k

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the Open Sept 17, 2024 🌟 Exciting times in the markets! Canadian equities hit new all-time highs, with health care leading the charge. 📈 Meanwhile, Microsoft announces a $60B share repurchase program and Intel makes strides in AI. Stay tuned for more updates! #MarketTrends #Investing #Finance”

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CRA Monitoring Trading Activity of Marketable Securities in TFSA Accounts The CRA (Canada Revenue Agency) is keeping an eye on TFSA accounts with frequent buying and selling of marketable securities (stocks, bonds, etc.). While TFSAs offer tax-free investment growth, excessive trading activity could raise red flags for the CRA, potentially leading to them questioning if your TFSA is being used as a business, which could result in taxes being owed. #TFSA #CRA #taxplanning #daytrading #investing

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Unlike the RRSP's first-time home buyer's plan, the FHSA allows immediate access to funds without a waiting period. This flexibility enables you to seize a home-buying opportunity by depositing and withdrawing funds quickly, while still benefiting from tax deductions and tax-free withdrawals. Understanding these advantages can help you make the most of your FHSA for your first home purchase. #FHSA #FirstTimeHomeBuyer #TaxAdvantages #HomeOwnership #FinancialPlanning

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Hello to any Ontario Fintech companies or companies selling into the Financial Services Space! I'm posting to help promote a great program run by the Ontario Government. All the details are below. There are five companies signed up so far (BlueRush included) and we need ONE MORE company to sign up for this to be a go. It's great value and great exposure at a big show. Plus, you know, Vegas.... Oct. 27-30: Ontario fintech mission to Money2020 (2 spaces left) The Government of Ontario is planning an export business mission for up to 8 Ontario-based fintech companies to participate at Money2020 2024. Money2020 (www.money2020.com/) in Las Vegas (Oct. 27-30) is one of the largest global events for the financial technology industry featuring established global companies as well as innovative start ups. The event attracts more than 11,000 attendees from over 3,000 companies. Cost CAD $7,7687.50 per company (travel and accommodation extra). The mission will offer Ontario companies an opportunity to promote their products and services, establish partnerships and target business opportunities in the United States. Ontario companies will benefit from turn-key exhibit space within the Ontario exhibit area/pavilion including wired internet and electricity for 2 small devices along with 2 exhibitor passes per company, participation in a B2B program subject to buyers' interest, sector/market-specific briefing on the current U.S. and ICT trends and opportunities, database of potential buyers in the U.S., 1:1 export advice and consultation. CanExport closed in May and it is not expected to reopen until next February for activities beginning in April 2025.   Please apply at Ontario FINTECH Mission to Money2020. APPLY ONLY 1 TIME (and only 1 person per company). Actual event attendees will be added at a later date. For additional details, please contact [email protected]

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Why do Canadians still flock to high-fee mutual funds despite low-fee index funds or ETF alternatives? In today's podcast we trace the mutual fund journey over the past 100 years, from niche product to investment mainstay, and offer a glimpse into the future with more low-fee options and demand for unbiased financial advice. #InvestmentInsights #MutualFunds #mutualfund #financialadvice #investmentadvice

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Our integration with Interactive Brokers in Canada is making news in Wealth Solutions Report! 📰 "This new integration will initially provide benefits for portfolio managers, including access to the Hybrid Digital Advice platform in FIQ Journey. This platform, which connects the front, middle, and back offices into a single digital workflow, is designed to enhance practice efficiencies and drive scalable growth for portfolio managers." Read the full article here: https://lnkd.in/g7Wj5r-h Learn more about FusionIQ Canada's solutions for portfolio managers here: https://lnkd.in/gpeyBZXj #portfoliomanagers #wealthmanagement #fintech #wealthmanager #digitaltransformation

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The most recent edition of the Ontario Securities Commission’s newsletter, Investor News, included a list of the most common questions asked when the provincial regulator is out in the community. By sharing these FAQs, the OSC hopes to help investors make informed decisions and gain a deeper understanding of the investing world. Here’s an example: Q. “Why is it important to check the registration of any person or business trying to sell you an investment or give you financial advice?” A. “It’s important to always check the registration. Checking registration is a quick and easy step that can help you protect your money and avoid fraudulent people or companies. “Registration helps protect you. It means the person or firm trying to sell you an investment has met the proficiency requirements for the products and services they offer. It means that a firm or person is required to act with integrity in their dealings with you and recommend investments that are suitable for you. “Registration doesn’t mean they will always give you good advice, act ethically, stay in business or guarantee that you’ll make or that you won’t lose money. But it is the first line of defense in protecting against fraudulent, unfair or improper practices. This is an important investor protection tool and whether you’re a seasoned investor or just starting out, I encourage you to take some time to review and familiarize yourself with these FAQs. You can do so @ https://bit.ly/3XyrhN0 📸 OSC #FAQ #InvestorProtection #OntarioSecuritiesCommission

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