It notes that while it’s been a tough time to be a saver the last decade, the new phenomenon of negative interest rates combined with the resurgence of the price of gold so far in 2016 is causing savers to look again to gold as a savings vehicle capable of preserving purchasing power.
As the blog says, BitGold customers’ are credited with real physical gold, which is stored at any of seven Brinks locations in major global financial centers. Customers can also choose to take physical delivery. Through this gold-based global network, you can purchase or sell gold at a 1% transaction cost in each direction. Early customers are mining companies that let employees be paid wholly or in part in BitGold, or permit shareholders to receive dividends in BitGold. Continue Reading…
Like most fans of the British period piece Downton Abbey, I feel somewhat bereft that the series has now finally concluded, after six seasons.
Mostly, however, because the season finale last night tied up so many loose threads that it was obvious there was enough material for a seventh season, and possibly much more.
It’s one thing to go out on a high note, which it did — so many plot lines and subplot lines were wrapped up with nice little bows — but quite another to end a show long before it’s time. The finale had a lot more short scenes and fast edits simply in order to accommodate the compression of the abundant material that evidently was at hand.
Jon Chevreau: Most robo advisers in North America seem to use a model of charging a fee based on assets. As one of Canada’s original robo-adviser services, NestWealth.com uses a quite different model, based on subscriptions, correct? One, I might add, that you say is also unique in all of North America?
Randy Cass: Nest Wealth’s members pay a flat monthly price for access to a customized portfolio and a dedicated portfolio manager. Our subscription model doesn’t incentivize or commission sales people based on how much of a product they sell. We’re enabling Canadians to sidestep high fees and outdated banking practices that take a percentage of everything they invest throughout their lives.
Nest Wealth’s subscriber community understands that our subscription service fundamentally challenges the model banks, and even newer robo-advisors, have used to charge investors. Not only are we able to deliver a proven investment service capable of saving Canadians up to half of their potential wealth, but we’re continuously improving that service by listening and adapting to our members’ needs. This is a transformational advantage of the subscription model, and it’s one important reason why we see so many industries adopting it as a revenue model.
JC: Is this unique, both in Canada and the US and rest of world?
RC: Nest Wealth is the first and only subscription-based investing service that handles everything from end to end. Investors of all ages can subscribe to our service for $20 a month — less than the cost of a gym membership. And their subscription is capped at $80 no matter how much their assets grow overtime. We want to help Canadians do the math and recognize that our low, flat subscription payment can leave them with 100 per cent more savings than a traditional fee structure that charges based on assets.
The good news is we’re witnessing a clear shift in how Canadians want to pay for and access financial services. A new report by business consultancy EY says that the adoption of fintech services among Canadians will triple over the next 12 months. The report also shows that although consumers trust technology, they still lack awareness of its benefits. We are passionately committed to helping consumers understand and seek out a better way to build wealth. Broader awareness and education will lead to more informed choices about how families plan for their future. There’s quite a bit at stake here.
JC: Where did you get the idea in the first place?
RC: The ‘Aha’ moment came when I was watching Netflix with my youngest son and I recognized that the principles of subscription services like Netflix, Spotify, Salesforce and Zipcar were much more in line with how investors needed to be treated than the status quo.
Can a Registered Retirement Savings Plan (RRSP) ever get too large? From time to time, you’ll hear certain financial advisors say so and propose “melting down” RRSPs in a tax-effective manner.
Seems a common reaction to watching a sea of red on financial terminals is simply not to look at the carnage. And, depending on how you set up your portfolio, this may not be as bad a thing as it may seem.
So says The Stingy Investor’s Norman Rothery. The blog also features a couple of occasional Hub contributors, Steve Lowrie and Aman Raina, both of whom look at the behavioural finance aspects of such “ostrich” behaviour.
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