1. Understand how Canadian businesses can prepare for generational wealth transition.
2. Gain practical tips on business succession, valuation, and managing complex family dynamics.
3. Reflect on the emotional side of entrepreneurship and how legacy planning shapes the future.

• CIBC's "Smart Advice" Podcast and Website - Website | Apple Podcast | Spotify
• Visit CIBC for more Smart Advice
• Iain Gallagher: LinkedIn | CIBC Profile

• Canada’s business environment has undergone several changes in recent years.
• Entrepreneurs have faced challenges from the pandemic, supply chain disruptions, inflation, and staffing shortages.
• Despite uncertainty, Canadian businesses continue to show strength and adaptability.
• Iain Gallagher believes that resilience and optimism still define today’s entrepreneurs.

• More Canadians than ever aspire to start their own businesses.
• Younger entrepreneurs are blending creativity with technology to reshape traditional industries.
• Many are bringing fresh perspectives through lifestyle, wellness, and tech-driven ventures.
• Iain highlights the growing impact of immigrant entrepreneurs on Canada’s business growth.

• Today’s business owners must embrace technology from day one.
• Digital tools now drive marketing, sales, and operations, reducing costs and improving efficiency.
• Strong financial systems are vital to support decision-making and sustainable growth.
• Iain explains how modern entrepreneurs can scale faster by leveraging digital solutions.

• A large wave of Canadian business owners plans to retire within the next decade.
• This generational shift poses both risks and opportunities for the economy. It also presents personal challenges for some entrepreneurs.
• Iain emphasizes the need for families to have open discussions about business succession plans.
• Preparing early helps avoid rushed transitions and protects the value of the business.

[09:40] Iain: “What we really try and encourage our clients to do is have those conversations and really talk about what everyone's goal is and what's the best way of achieving that.”

• Even if a sale is years away, owners should start preparing now.
• Iain outlines three key steps: strengthen financial reporting, delegate management, and share client relationships.
• Letting go of control allows teams to grow and businesses to operate independently. 
• Many entrepreneurs misunderstand the true value of their business, making preparation even more critical.

[12:20] Iain: “As the business matures, grows, the number of people you have working for you increases. Owners really have to take a step back.”

• Strong financial systems, clear reporting, and solid management make a company more attractive and valuable to buyers.

• Selling a business is deeply personal for most entrepreneurs.
• Owners often see their company as part of their identity and community.
• Iain discusses the emotional attachment and the importance of defining success beyond price.
• Planning for employees’ future and preserving the founder’s legacy helps ease the emotional transition.

• A smooth business succession comes from preparation, clarity, and self-awareness.
• Owners must decide what they want their role to be after the sale.
• Iain compares selling a business to selling a home. Presentation and readiness matter to potential buyers.
• Making small operational and financial improvements can significantly boost value.

• The right advisors can make or break a transition.
• Iain stresses the importance of having accountants, lawyers, and M&A experts involved early.

[21:43] Iain: “We couldn't do what many entrepreneurs do, but similarly, they can't do what we do. So we really encourage people to get the right advisors around them and identify them early on, because again, never want to think of an entrepreneur, business owner, a family, being pushed into transactions when they're not prepared.”

• Long-term relationships with trusted advisors help owners make informed decisions.
• A strong advisory team ensures both the business and shareholders are ready when the opportunity to sell arises.

• Selling a business creates a new financial reality for entrepreneurs.
• Many owners need guidance to manage newfound wealth and plan for the next phase.
• Iain explains how collaboration with financial planners, tax experts, and family members can align goals.

• Carissa closes the episode by highlighting the dedication and resilience of Canadian business owners.
• Early planning and honest conversations can make every transition smoother and more meaningful.
• Each step, from preparation to letting go, helps shape a lasting legacy.
• Thoughtful decisions today can secure success for both current and future generations.

Connect with Carissa Lucreziano on LinkedIn.

Iain Gallagher is the Managing Director and Head of Mid-Market Investment Banking at CIBC. With more than 25 years of experience, he has helped Canadian entrepreneurs navigate business succession, sales, and transitions. He focuses on helping owners realize the full value of their companies. Iain also ensures that the legacy they’ve built is protected. His experience covers industries like manufacturing, distribution, technology, and services.

Known for his thoughtful approach, Iain understands the emotional side of every business transition. He also recognizes the financial complexity that comes with it. He works closely with families and founders to ensure each step of the process reflects their goals and long-term vision.  Through his leadership, he supports the next generation of Canadian business owners. He helps them plan with confidence, grow their businesses, and adapt to change.

Connect and learn more about Iain Gallagher on his LinkedIn.

If you did, be sure to subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this to your friends and family. Business ownership in Canada is changing as many entrepreneurs prepare to pass on what they’ve built. This shift brings both opportunity and challenge. Each choice can shape the future of the business and those who run it. With business succession planning and the right guidance, every transition can lead to lasting success.

Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook,or Instagram.

Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts.

1. Gain insight into the practical and emotional complexities of intergenerational wealth transfer, including the rise of living gifts.
2. Discover how wills and estate plans are key to ensuring your wishes are respected and your family’s future is protected, along with strategies on having open family conversations about inheritance.
3. Learn why financial independence matters and how the younger generation can build wealth beyond inheritance.

• CIBC's "Smart Advice" Podcast and Website - Website | Apple Podcast | Spotify
• Visit CIBC for more Smart Advice
• Richard Voss: LinkedIn | CIBC Profile

• Canada is seeing the largest intergenerational wealth transfer in its history.
• Richard Voss, Director of Wealth Strategies at CIBC, brings years of experience helping families manage the emotional and financial sides of passing on wealth.
• Gifting wealth while still alive is becoming more popular as Canadians live longer and want to see the impact of their generosity.
• Many people inherit at older ages, but financial support might have been more useful earlier in life.
• Giving during one’s lifetime can strengthen family relationships and create meaningful opportunities for the next generation.

[02:45] Richard: “And so the question then arises, could a gift have been more effective and valued if they had received it at an earlier age? And I would argue, the answer to that is a resounding yes.”

• Despite the increasing number of people planning to make a wealth transfer, nearly half of Canadians still don’t have a will.
• Richard breaks down why this gap exists, from discomfort discussing mortality to the belief that “it can wait.”

[05:38] Richard: “Making a will is so important because it provides guidance to your survivors and your executors on how you want your assets divided. It reduces conflicts as your instructions are captured in a clear way and are formally recorded in a legal document.”

• A clear and legal will ensures your wishes are respected. Without one, provincial laws decide how assets are divided, which can lead to unintended and costly outcomes.
• However, a will alone is not an estate plan. Richard explains that a complete plan also includes powers of attorney and beneficiary designations.
• Every family’s situation is unique, and creating a complete plan ensures both financial and emotional peace of mind.

• Talking about wealth transfer, inheritance, and legacy can be uncomfortable, but it is necessary.
• Richard recommends regular family meetings to maintain transparency and consistency.

[10:28] Richard: “Having everyone together is better than having separate one on one conversations. It allows for consistency and continuity and the ability to ask questions both ways.”

• Establishing ground rules helps create a safe, judgment-free space for everyone to share their thoughts.
• These conversations can strengthen family understanding, align values, and prevent future misunderstandings.

• Rising costs of living mean many young Canadians can’t rely on inheritance alone for financial security.
• Richard shares practical steps, starting with living within their means and saving with purpose.
• He outlines the 20/50/30 approach: 20% to savings, 50% to fixed expenses, and 30% to discretionary spending.
• The focus, he says, should be on developing strong habits early and working with financial advisors to build long-term wealth.

• Carissa reflects on Richard’s advice and emphasizes the importance of consistency and professional support.
• Together, they highlight how collaboration with a trusted advisor can help Canadians stay on track with financial goals.
• Richard encourages those living at home or with fewer expenses to take advantage of the opportunity to save more.
• Commitment and consistency are key to achieving financial goals and building confidence over time.

• Richard advises taking time to pause after receiving an inheritance, especially if it comes from a loss.
• It is also beneficial to take the time to reflect, especially after the loss of a loved one..
• For significant inheritances, he recommends creating or updating a financial plan with professional advice.
• Even a modest inheritance can strengthen financial stability when used to reduce debt or invest for the future.

• Carissa closes the episode by emphasizing that planning for the future takes time and patience.
• Even small steps, like writing a will or starting family discussions on wealth transfer, can make a meaningful difference.
• The key is to start early, involve loved ones, and seek professional guidance when needed.
• Thoughtful planning today can build stronger financial foundations for generations to come.

Richard Voss is the Director of Wealth Strategies at CIBC Private Wealth. He has spent years helping Canadians navigate the complexities of financial decision-making. His work focuses on creating thoughtful strategies that align financial goals with personal values. Through his guidance, families gain clarity on how to preserve and share wealth across generations. Richard is known for bringing both technical expertise and a deeply human approach to every conversation.

Richard understands that strategic insight must also have empathy. He helps clients make informed decisions about wills, trusts, and long-term planning whilst maintaining harmony within their families. His approach emphasizes education, collaboration, and confidence in managing wealth. Above all, Richard is passionate about helping Canadians protect what matters most to them while building legacies.

Connect and learn more about Richard Voss on his LinkedIn or CIBC Profile.

If you did, be sure to subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this to your friends and family. Wealth is changing hands faster than ever as a new generation steps into financial responsibility. Families across Canada are learning how to give, receive, and plan with purpose. This brings both opportunities and challenges, from tax implications to keeping family conversations. Explore how thoughtful planning can make every wealth transfer count, today and for the generations to come.

Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, Twitter, or Instagram.

Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts.

1. Learn how interest rate cuts actually affect variable and fixed-rate mortgages, and what that means for your next renewal.
2. Understand the regional differences shaping Canada’s housing markets, including why now may be an opportunity for condo buyers.
3. Gain practical strategies for staying financially resilient, from managing employment uncertainty to making smart spending decisions.

• CIBC's "Smart Advice" Podcast and Website - Website | Apple Podcast | Spotify
• Visit CIBC for more Smart Advice
• Andrew Grantham: LinkedIn | CIBC Author Profile

• Canadians are facing uncertainty as interest rates shift, the Canadian housing market fluctuates, and recession fears dominate the headlines.
• Rising costs and uneven recovery raise important questions about affordability and financial security.
• Host Carissa Lucreziano introduces guest Andrew Grantham, Senior Economist at CIBC Capital Markets.
• Andrew is well-positioned to explain today’s challenges, connecting big-picture trends to the financial decisions Canadians face.
   

• The Bank of Canada and the U.S. Federal Reserve recently trimmed rates, offering a small sense of relief.
• For some households, variable-rate mortgages and credit lines see immediate benefits, while fixed rates remain largely unchanged.
• Carissa asks Andrew about the broader impact on the Canadian housing market, from overheated urban centers to smaller regions.
• Andrew explains why local differences matter, noting ongoing weakness in Toronto and Vancouver but signs of recovery elsewhere.

[04:16] Andrew: “We are seeing that, particularly with the population growth we've seen in some of the prairie provinces, for example, there is the demand there, and even though building has increased in those provinces, we are still seeing that the housing market there is reasonably strong and prices are continuing to rise a little bit.”

• Condos, particularly in Toronto, are experiencing weak demand and falling prices.
• Developers struggle to pre-sell units, slowing the pace of new construction.
• Andrew explains how reduced supply could eventually stabilize the market as demand slowly returns.
• He advises Canadians not to wait too long, as even a small rise in demand could shift conditions.

• Many Canadians wonder if mortgage rates will fall further before they make financial moves.
• Andrew notes that while rates are lower than last year, they will likely not return to pandemic-era levels.
• He emphasizes that rates today are closer to 2019 levels, when the market was more balanced.
• His advice: focus on manageable payments and comfort, rather than trying to time the market.

• Canada’s economy is deeply linked to U.S. policy decisions, creating ripple effects north of the border.
• Andrew discusses Mark Carney’s approach to strengthening ties while avoiding rushed trade deals.
• While many goods still enter the U.S. tariff-free, sector-specific tariffs continue to impact industries like steel, aluminum, and autos.
• Ontario and Quebec face the greatest pressure, while most other provinces remain less affected.

• With Black Friday approaching, Canadians are weighing the cost of cross-border shopping.

[11:30] Andrew: “In terms of that cross-border shopping activity, a big theme over this year, even before talking about those Black Friday Sales, has been the drive to buy Canadian.”

• A weaker Canadian dollar makes U.S. purchases more expensive, but a “buy Canada” trend is emerging.
• Andrew notes that spending at home could benefit local retailers this holiday season.
• He explains how the loonie’s movement is tied to U.S. dollar strength, limiting expectations for quick improvement.

• Headlines continue to question whether Canada is already in a recession.
• Andrew clarifies the difference between the technical definition and how people actually feel.
• While contraction occurred earlier in the year, he expects recovery in the second half.
• For many in Ontario and B.C., falling home prices and job struggles still make it feel like a recession.

[15:48] Andrew: “What's interesting though, in the current situation is that that excess increase in unemployment for young people has gone above and beyond even what we would typically see given what's happened on the economy as a whole, on a national basis.”

• Canadians want to know how to protect themselves in uncertain times.
• Andrew advises setting money aside for emergencies and focusing on long-term goals.
• He emphasizes avoiding short-term “headline risks” and instead building steady resilience.
• His message: consistent saving and a long-term view remain the strongest strategies.

• Canada is adjusting to a new trade environment, higher but stabilizing interest rates, and shifting consumer patterns.
• Andrew highlights Canada’s strengths, including infrastructure investment, natural resources, and a skilled labor force.
• He notes that while the economy feels heavy today, long-term prospects remain strong.
• Final takeaway: Canadians should focus on opportunities ahead, not just the short-term noise.

As Senior Economist with CIBC Capital Markets, Andrew Grantham has a wide range of experience in different areas of economic and market forecasting, providing both a Canadian and global perspective. His focus includes interest rates, the Canadian housing market, consumer spending, and trade. Through his work, he has helped Canadians understand how big trends connect to everyday financial decisions. Andrew often shares insights on mortgage affordability, youth unemployment, and cross-border ties.

Andrew blends data-driven analysis with a practical perspective on the Canadian economy. In his analyses, he highlights both the challenges and the opportunities that lie ahead. His goal is to help Canadians move past headlines and focus on what matters for long-term resilience and growth.

Connect with Andrew Grantham on his LinkedIn or CIBC Author Profile.

If you did, be sure to subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this to your friends and family. Interest rates, jobs, and trade are all shifting. The Canadian housing market is fluctuating depending on where you go. This creates a landscape that feels uncertain but also full of possibility. Discover how these changes connect, and learn what they mean for your financial decisions today and for the years ahead.

Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, or Instagram.

Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts.

1. Learn why now is the time to take advantage of Canada’s current capital gains rate and how it can impact your investment returns.
2. Explore the ins and outs of owning property outside of Canada and how to avoid double taxation and cross-border estate issues.
3. Hear practical year-end tax planning strategies, from charitable giving to tax-loss selling, to help you keep more of your wealth and achieve your financial goals.

• CIBC's "Smart Advice" Podcast and Website - Website | Apple Podcast | Spotify
• Visit CIBC for more Smart Advice
• Jamie Golombek: Website | LinkedIn | X (Twitter) | CIBC Profile

• Taxes shape nearly every financial choice, from investing to passing down property.
• Without tax planning, policy shifts can create unexpected costs and reduce wealth.
• Jamie Golombek, Managing Director of Tax and Estate Planning at CIBC, brings over 25 years of experience to the discussion.
• His insights highlight how smart strategies can preserve assets and support long-term goals.

• Canadians face uncertainty as new government leadership and upcoming budgets could shift tax rules.
• Jamie outlines the likelihood of higher taxation for top earners and possible adjustments to credits and exemptions.

[02:24] Jamie: “No one knows what will happen. We are expecting a fall budget. I mean, the latest information we have from publicly available sources is that the budget will drop in October. We're going to wait and see what will be in that budget.”

• He explains why tax cuts are unlikely and why rates at the high end can discourage productivity.
• Keeping a close eye on government priorities is essential for anticipating the next wave of changes.
  
   

• The proposed increase in the capital gains inclusion rate was cancelled, creating relief for many investors.
• Jamie explains that the rate remains at 50%, with both advantages and drawbacks.
• Investors should use this favorable rate strategically, particularly in non-registered accounts.
• Real estate and equity holdings can benefit from thoughtful positioning under current rules.

[08:44] Jamie: “Take advantage of capital gains; the fact that we have the lowest rate, even lower than the rate on dividend income, which is also favorable because the dividend tax credit. Take advantage of it, both in your portfolios, your non-registered portfolios, as well as if you're doing any real estate investment.”

• Owning property outside Canada can expose investors to double taxation, foreign estate taxes, and currency risk.
• Jamie stresses that Canadians are taxed on worldwide income, so all gains and rental income must be reported.
• Local tax advice, paired with Canadian expertise, is key to managing obligations across borders.
• Proper planning can prevent costly errors and preserve long-term property value.
   

• Passing down cottages or vacation homes raises both emotional and financial challenges.
• Jamie highlights the need for family conversations to determine if children actually want the property.
• Deemed dispositions at death can create large tax bills, requiring liquidity planning.

[16:55] Jamie: “Remember, you haven't actually sold it. There is no real money, but there is this sort of deemed disposition concept, and therefore you've got to come up with the cash to pay the tax.”

• Options such as sinking funds, equalizing assets, or family trusts can help families transition smoothly.

• Balancing fairness between children is a common concern in estate planning.
• Jamie explains how dividing assets can work but stresses the importance of considering tax consequences.
• Life insurance is one tool that can equalize estates or cover tax liabilities.
• Coordinated planning with advisors ensures both fairness and tax efficiency.

• Practical strategies can make a big difference before the calendar year closes.
• Jamie recommends tax-loss selling, charitable donations, and contributions to first-home savings accounts.
• Business owners should also review compensation strategies, weighing salary versus dividends.
• Year-end deadlines make it critical to act early and plan ahead.

• Proactive tax planning protects wealth and reduces unnecessary costs.
• Jamie directs listeners to his website and Financial Post column for ongoing guidance.
• The key lesson is that taxes, while inevitable, can be managed with foresight and good advice.
• Building long-term financial security starts with planning, strategy, and informed choices.

Jamie Golombek is the Managing Director of Tax and Estate Planning at CIBC. With more than 25 years of experience, he has become one of Canada’s most trusted voices on tax strategy and wealth preservation. His expertise spans tax policy, capital gains planning, property ownership, and intergenerational wealth transfer. Jamie is also a longtime contributor to the Financial Post, where his weekly column helps Canadians make sense of complex tax issues and apply them in practical ways.

Respected for his ability to simplify complicated topics, Jamie has appeared on BNN and CTV News. He has also been a frequent guest on podcasts and conferences across the country. His commentary bridges technical detail with everyday financial decisions, giving clarity to Canadians navigating taxes in real time. Through his work, he equips individuals and families with strategies to minimize costs, protect assets, and build wealth with confidence.

Connect with Jamie Golombek on his LinkedIn or CIBC Profile.

If you did, be sure to subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this to your friends and family. Taxes may be unavoidable, but smart strategies can change the outcome. Discover how tax planning helps preserve wealth, reduce costs, and prepare for policy changes. Learn how to navigate property ownership, cross-border rules, and wealth transfers while keeping more money toward your goals.

Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, or Instagram.

Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts.

1. Discover why the fixed income asset class is not just the “quiet” side of your portfolio and why everyone should have a portion in their portfolios, offering attractive yields, stability, and protection against market volatility.
2. Learn how investment-grade bond funds and laddering strategies can help you manage reinvestment risk, match your investments to your cash flow needs, and diversify beyond traditional options.
3. Get actionable advice on putting idle cash to work, protecting your purchasing power from inflation, and why timing the market is less effective than having a disciplined fixed income strategy aligned with your short- and long-term goals.

• CIBC's "Smart Advice" Podcast and Website - Website | Apple Podcast | Spotify
• Visit CIBC for more Smart Advice
• Aaron Young: LinkedIn

• Fixed income plays a steady role in building and protecting wealth, even though it rarely makes headlines.
• These investments balance portfolios, preserve capital, and provide flexibility for both short- and long-term goals.
• The episode features Aaron Young, Executive Director and Head of Client Portfolio Management at CIBC Global Asset Management.
• With over 15 years of experience, he offers insights into why a fixed income strategy matters now more than ever.

• Fixed income is entering what experts call a “golden age,” offering attractive yields and renewed importance in portfolios.

[03:06] Aaron: “Right now, fixed income is in a bit of a golden age, for lack of a better term. What I mean by that is we've hit a nice balance point in fixed income markets where this asset class can generate a really attractive income potential for clients, and it can do so while also regaining a bit of that role of hedging risk.”

• Yields, once near zero, have returned to healthier levels, restoring the income investors expect from this asset class.
• Global factors like trade policies, tariffs, and geopolitical shifts continue to shape the outlook for bonds.
• Active management becomes crucial in this environment, turning volatility into opportunities for added returns.

• Diversification across asset classes is essential, with fixed income providing a counterbalance to equities and alternatives.
• Bonds protect capital, generate predictable coupons, and reduce portfolio volatility in uncertain markets.
• Capital appreciation is another underappreciated benefit, as mispriced bonds can deliver strong upside potential.

[06:58] Aaron: “I would say for any level of investor, you should have a portion of fixed income in your portfolio for diversification, and not diversification such as a sector or holding a single stock versus other companies. Its diversification of where your risk and return comes from.”

• The role of fixed income shifts depending on investor needs, risk tolerance, and life stage.

• Beyond GICs, investment-grade bond funds offer predictable returns with the added benefits of interest and price appreciation.
• These funds provide tools to align investments with cash flow needs while diversifying risks.

[10:45] Aaron: “The investment grade bond funds really was a focus on, how do we build something that's similar to a GIC in a lot of respects, in terms of target maturity date, I know I'm going to get my capital back, not the same risk profile, but also not going out and buying really high risk bonds, where the prices fluctuate quite a bit day to day, we buy governments and really solid large cap corporate bond issues.”

• Laddering, or staggering maturities, helps manage reinvestment risk and interest rate fluctuations.
• Together, these strategies expand fixed income options, giving investors greater flexibility than traditional choices alone.

• A fixed income strategy can align with specific cash flow needs such as saving for education, a home, or a cottage.
• Investment-grade bond funds allow investors to match maturities to future liabilities with confidence.
• This approach ensures capital is available when needed while still generating income along the way.
• By protecting against reinvestment risk, bond funds create stability without leaving money idle.

• Holding excess cash on the sidelines exposes investors to the silent erosion of inflation.
• Opportunity cost can be significant, as sitting still means missing out on steady income streams.
• Timing the market is notoriously difficult, even for professional investors with advanced tools.
• Fixed income serves as a bridge between cash and equities, offering stability while keeping money productive.

• Fixed income portfolios can be adjusted in real time to capture opportunities and manage risks.
• A dedicated team of experts at CIBC Global Asset Management specializes in areas like government bonds, corporate credit, and global rates.
• Sharing ideas across disciplines ensures portfolios benefit from the best thinking across the firm.
• Market inefficiencies in bonds create opportunities for active managers to add consistent long-term value.

• Fixed income offers multiple levers to manage risk and generate returns, from interest rates to credit exposure.
• Large institutional strategies, such as liability-driven investing, inspire approaches suitable for individual investors.
• The market’s inefficiencies, like off-exchange , provide advantages for skilled active managers.
• Agility and collaboration within the team enable CIBC to adapt quickly beyond headlines or central bank announcements.

• A fixed income strategy remains a vital part of any portfolio, providing stability, income, and diversification.
• Bonds can be tailored to meet both short-term cash flow needs and long-term growth objectives.
• Aaron Young emphasizes the importance of viewing fixed income as a flexible tool for achieving financial outcomes.
• His closing message reinforces that bonds will always have a rightful place in helping Canadians reach their goals.

Aaron Young is the Executive Director and Head of Client Portfolio Management at CIBC Global Asset Management. With more than 15 years of experience in fixed income markets, he has dedicated his career to helping global investors understand the power of bonds and income-generating investments. His work spans from guiding individual investors to managing portfolios for some of the country’s largest institutions, including pension plans, foundations, and endowments. Aaron specializes in strategies that balance income generation, capital preservation, and long-term growth in both traditional and alternative fixed income strategies.

Known for his passion for making fixed income accessible, Aaron brings clarity to a part of investing that is often overlooked. He believes bonds are not just the “quiet side” of a portfolio, but a dynamic tool that can stabilize wealth, reduce volatility, and create new opportunities for investors. Through his expertise, he empowers Canadians to look beyond traditional GICs and embrace innovative solutions that align with their financial goals.

Connect with Aaron Young on his LinkedIn.

If you did, be sure to subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this to your friends and family. Market headlines come and go, but steady income and protection never go out of style. Discover how a fixed income strategy can safeguard your wealth while still keeping your money working. Learn to build stability, generate returns, and move forward with confidence in any market.

Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, , or Instagram.

Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts.

1. Learn how to approach saving for future education as a long-term goal, and with an investor mindset.
2. Learn how to build a resilient RESP investment strategy that adapts to market shifts, and discover investment solutions designed to evolve with your child’s age.
3. Gain insights into how to build financial literacy with your children and family, so you can work together to achieve your long-term education planning goals.

• CIBC's "Smart Advice" Podcast and Website
• Visit CIBC for more Smart Advice
• Michael Keaveny: LinkedIn
• CIBC Education Portfolios
• CIBC Registered Education Savings Plan Calculator
• Canada Education Savings Grant
• Canada Learning Bond

• Education has become one of the most significant financial milestones for Canadian families.
• The challenge of covering post-secondary costs is growing rapidly, with projected expenses expected to exceed $100,000 for today’s children.
• Carissa Lucreziano welcomes Michael Keaveney, Vice President of Managed Solutions at CIBC Asset Management, to explore how families can financially prepare.
• With decades of investment experience and a personal understanding of education planning, Michael offers strategies grounded in both data and lived insight.

• Saving for education can feel overwhelming, especially alongside other priorities like mortgages and retirement.
• Yet starting early and contributing consistently can dramatically shift what’s possible through the power of compounding.

[04:14] Michael: “Those two things, starting early and having a regular investment plan are actually behaviors within your control, and focusing on what's in your control, is central to any investment strategy.”

• Michael explains how automatic, regular investments help parents stay on track and reduce future financial stress.
• Early action builds both savings and financial flexibility as your child’s path evolves.

• Market volatility can make education investors second-guess their decisions, especially during uncertain times.

[08:56] Michael: “You do get periodic spikes in volatility in the market for various and different reasons, but we know that if you take a longer-term timeframe, the market bounces back and goes on to new highs.”

• But staying invested over the long term remains one of the most effective ways to reach savings goals.
• Michael shares his own experience of riding out major market downturns and stresses the importance of adjusting risk as the goal gets closer.
• Carissa adds that a resilient strategy includes knowing when to shift from growth to stability.

• Education timelines require unique investment strategies that evolve with a child’s age.
• CIBC Education Portfolios are designed to shift automatically, from equities to bonds, as the target date approaches.
• Michael explains how these portfolios offer a built-in glide path, helping parents stay aligned with their child’s educational timeline without constant rebalancing.
• Carissa notes how this reduces guesswork and supports parents who prefer a hands-off yet intentional approach.

• Education planning isn’t just about money, but it’s an opportunity to teach lasting financial habits.

[18:08] Michael: “I think it's entirely appropriate and a good idea for children to learn that the money didn't fall out of the sky. That a plan was put together, a conscious choice was made, maybe even at the expense of other options, and that the plan continues to be monitored.”

• Bringing children into the savings journey can build their confidence, agency, and understanding of long-term goals.
• Michael suggests giving children the chance to contribute, even in small ways, to foster ownership and awareness.
• Carissa shares how celebrating milestones like grants or savings goals can make the experience both personal and impactful.

• Education paths aren't always predictable. Some children take time off, change direction, or choose alternatives.
• RESPs offer flexibility with up to 36 years to use the funds and options to transfer, repurpose, or adjust as needed.
• Michael outlines various RESP scenarios and explains how different rules apply depending on the child’s path.
• Carissa emphasizes the importance of speaking with a financial advisor to understand which options are available and best suited for your family.

• Education planning for your child may feel like a big goal, but it’s one of the most rewarding investments a family can make.
• Starting early, contributing regularly, and staying flexible helps parents build not just savings and confidence.
• Michael emphasizes that you don’t have to know everything to begin.
• The important step is to get started on building a roadmap that supports your child’s future.

Michael Keaveney is the Vice President of Managed Solutions at CIBC Asset Management. With nearly 30 years of experience in wealth management, Michael has helped thousands of Canadians grow and protect their financial futures. His work focuses on building strategic investment solutions that align with long-term goals, including education planning, retirement, and wealth preservation. He also plays a key role in developing portfolio strategies that adapt to changing market conditions and evolving client needs.

Known for blending expert insights with real-world practicality, Michael brings a clear and steady perspective to market volatility, portfolio design, and disciplined investing. As a parent who’s navigated the education savings journey himself, he offers both professional guidance and personal experience. He believes that starting early and staying consistent are the cornerstones of successful investing. Through his work, he empowers families to plan ahead with purpose and confidence.

Connect with Michael Keaveney on his LinkedIn.

If you did, be sure to subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family. The cost of education is rising, but your peace of mind doesn’t have to waver. Discover how education planning and regular contributions can keep you on track. With the right strategy, you can stay prepared, no matter what the future holds.

Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, or Instagram.

Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts.

1. Understand the powerful connection between financial well-being and your physical health, and how to disrupt that cycle.
2. Learn practical strategies for building resilience, managing stress, and maintaining balance in a fast-paced world.
3. Gain expert advice on preparing for retirement—emotionally, physically, and financially—so you can enjoy a purposeful and fulfilling next chapter.

• CIBC's "Smart Advice" Podcast and Website - Website | Apple Podcast | Spotify
• Visit CIBC for more Smart Advice
• Dr. Noah Levine: Cleveland Clinic Profile
• Invest in your health by following Canada’s 24-Hour Movement Guidelines
• Read the CIBC Ambitions Index for 2025

• Canadians must rethink and redefine the meaning of “wealth” in the modern world. Nowadays, there is more to it than money.
• Health, energy, peace of mind and financial well-being are now core to the definition of wealth. 
• Wealth now also implies having physical vitality, emotional clarity and strong relationships on top of financial stability.
• Dr. Levine explains how financial stress impacts physical health. Canadians often underestimate how much stress about money affects their day-to-day.

[03:11] Dr. Noah: “Our financial wellness is so closely connected to our overall well-being. Financial stress can have impacts on a number of areas of our health, one of those is sleep.”

• Dr. Levine encourages starting with simple, science-backed habits that build a healthy life.
• He breaks down the core areas: balanced nutrition, regular movement, and quality sleep.
• Prioritizing relationships also play a major role in long-term well-being.
• These foundations are essential for building resilience, performance, and financial well-being over time.

• Well-being isn’t just the absence of illness—it’s about living with meaning and intention.
• Dr. Levine introduces the PERMA model: Positive Emotion, Engagement, Relationships, Meaning, and Achievement.
• Fulfilling each component of the PERMA model enhances our quality of life.
• Focusing on these elements helps people feel more fulfilled and aligned with their values.

• Resilience can also mean adapting to stress and unpredictability rather than trying to remove it entirely from our lives.
• Dr. Levine shares “micro skills” like pausing, walking, or using mindfulness to manage stress in real time.
• He introduces the flexibility mindset: a belief that you can face challenges with optimism and control.

[16:06] Dr. Noah: “The flexibility mindset is basically a conviction that no matter what happens, I'm going to find a way to deal with this.”

• This mindset helps people recover faster and stay grounded during uncertainty.

• Dr. Levine shares how employers can support employee health through smart, strategic interventions.
• He highlights flu clinics, healthy scheduling, and wellness programs as proactive health tools.
• In today’s strained healthcare system, employers can fill critical gaps in mental and physical care.

• Retirement is a new life stage that requires emotional, physical, and cognitive preparation.
• Dr. Levine outlines how physical activity, sleep, and mental stimulation support long-term health.
• Social connection prevents isolation and helps retirees maintain happiness and mental sharpness.
• Finding purpose and setting new goals after work creates a fulfilling retirement experience.

• Small actions can lead to major life transformation — similar to how financial investments can grow to large sums over time.

[28:59] Dr. Noah: “I don't really think it matters where you start. I think what matters is making a commitment to yourself and taking that first step.”

• Real wealth includes energy, clarity, and a sense of accomplishment which can be done from repeating small wins.
• Staying connected to your “why” makes it easier to sustain health and financial well-being.
• Intentional choices today shape the life you want to live tomorrow.

Dr. Noah Levine is a Family and Occupational Medicine Physician and the Corporate Medical Director at CIBC. With over 25 years of clinical experience, he has dedicated his career to supporting the physical, mental, and emotional well-being of individuals and teams. Dr. Levine also serves as a physician at Cleveland Clinic Canada, where he helps patients navigate the intersection of health, lifestyle, and long-term vitality.

He is an expert in holistic wellness, workplace health strategies, and resilience-building. At CIBC, Dr. Levine plays a key role in shaping a culture of well-being by offering proactive health guidance to employees and executives alike. Passionate about empowering people to thrive both personally and professionally, he brings a compassionate, science-backed perspective to the evolving conversation on health and financial well-being.

If you did, be sure to subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family. The world may feel overwhelming, but your health and financial well being doesn’t have to take a back seat. Discover how small, intentional choices, in both health and finances can help you thrive in every season of life.

Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, or Instagram.

Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts.

1. Understand the rise of alternative investments and why public markets are no longer the full picture.
2. Learn how private equity, private credit, and real assets can enhance diversification and hedge against inflation.
3. Gain clarity on how everyday investors can access and implement alternatives in traditional portfolios.

• Alternative investments enter the mainstream
• CIBC's "Smart Advice" Podcast and Website - Website | Apple Podcast | Spotify
• Visit CIBC for more Smart Advice
• Meric Koksal: LinkedIn

• Traditional investment strategies may no longer be enough for long-term growth.
   
• The public markets are shrinking, and fewer companies are going public.
   
• With over 20 years of global experience, Meric Koksal explains how alternatives like private equity, private credit, and real assets are gaining popularity among Canadian investors.

[03:20] Meric: “With the public markets shrinking and companies staying private longer, it really fueled the growth of these alternative investments or another way to talk about it is the private investments.”

• Private equity includes investments like growth equity and venture capital, giving investors ownership in private companies.
   
• Private credit is non-bank lending, where funds lend directly to private businesses.
   

[05:02] Meric: “Private credit, which we hear a lot about, and it's arguably the fastest growing pillar within alternatives … for instance, a fund manager may be lending money to a soccer team to support a stadium construction.”

• Real assets are physical assets like infrastructure and natural resources that provide investment opportunities.
   
• Meric highlights these alternatives as key pillars in today’s investment landscape, especially in Canada.
   

[7:03] Carissa: “I found it surprising that 90% of companies are privately held. They're not listed on public markets. As you mentioned, public markets are just like a sliver of the pie, and it seems like we're missing out on that broader universe.”

• Private investments often offers higher returns due to lower liquidity compared to public markets.
   
• These investments provide unique opportunities not available in public markets.
   
• Private equity has a low correlation to public markets, making it a strong diversification tool.
   

[11:16] Meric: “In a nutshell, these product alternatives provide great benefits to clients from higher income potential, higher return potential, without introducing any additional risk portfolio while you're providing some inflation hedging.”

• Many investors still think alternative investments are too complex or opaque.

[13:01] Meric: “What used to be, you need to have a $5 million investment to even start talking about these investments is now accessible for as little as $25,000.”

• Monthly asset valuations and detailed reporting have made alternatives more transparent.
   
• Quarterly liquidity options are available, but these remain long-term investments.
   

• Meric proposes a 50/30/20 framework: 50% equities, 30% fixed income, and 20% alternatives.
   
• Replacing some equity and fixed income allocations with alternatives increases diversification and yield.
   
• Private equity can replace public equity, while private credit and real assets can replace fixed income.
   
• Infrastructure investments offer both growth and steady income within the real assets pillar.
   

• Financial advisors play a key role in educating clients about the value of alternative investments.
   
• Advisors can help clients understand how alternatives can provide higher returns and diversification.
   
• With intergenerational wealth transfer occurring, long-term financial goals and risk profiles should be considered.
   
• Advisors are essential in guiding clients through the complexities of integrating alternatives into their portfolios.
   

• Meric discusses how CIBC Asset Management is making alternative investments more accessible to Canadians.
   
• CIBC leverages expertise across the firm, from private credit to commercial banking, to offer innovative solutions.
   
• The firm is committed to helping individual investors navigate alternatives with confidence.
   
• Meric highlights CIBC’s focus on building tailored investment strategies that meet clients’ evolving needs.
   

• Meric encourages listeners to explore alternatives to diversify and strengthen their portfolios.
   
• Alternative investments offer higher returns and greater stability, especially during market volatility.
   
• Staying informed and working with trusted advisors is crucial as the landscape of alternatives evolves.
   
• With increased accessibility, the future of alternative investments in Canada looks promising.

Meric Koksal is the Managing Director and Head of Product at CIBC Asset Management. She leads the firm’s efforts to make alternative investments more accessible to Canadian investors. With over 20 years of global investing experience, Meric has worked on trading desks from Wall Street to Singapore, bringing a broad, world-class perspective to the investment space.

She is an expert in driving innovation within investment strategies, focusing particularly on alternative assets like private equity, private credit, and real assets. Her deep knowledge of these asset classes helps Canadian investors navigate today’s evolving market landscape. Passionate about increasing accessibility to alternative investments, Meric is dedicated to providing practical solutions for individuals looking to diversify their portfolios and achieve long-term financial goals.

Connect with Meric Koksal on her LinkedIn.

If you did, be sure to subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family. The investment landscape may be shifting, but your approach doesn’t have to be. Discover how alternative investments can help you diversify and stay resilient, even in uncertain times.

Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, or Instagram.

Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts.

Has the current economic landscape led you to revisit your goals or adjust your journey to achieving them? If so, you’re not alone. 

In this episode of Smart Advice, Carissa Lucreziano is joined by Sean Simpson, Senior Vice President of Public Affairs at Ipsos, to unpack the findings of the inaugural CIBC Ambitions Index. Together, they explore how Canadians are reshaping their goals with a focus on balancing health, financial stability, and personal relationships. From Gen Z's short-term wins to Boomers' focus on preserving wealth, the conversation dives into generational differences, economic challenges, and the resilience driving Canadians forward. 

Learn how clear goals, professional guidance, and celebrating milestones can help you achieve success in today’s complex environment. This discussion offers valuable insights for anyone looking to reshape and achieve their ambitions.

1. Learn how Canadians are reshaping their goals and priorities in the face of economic uncertainty 
2. Gain a deeper understanding of how ambitions differ across generations  
3. Discover actionable strategies Canadians are using to achieve their goals

Resources

• CIBC's "Smart Advice" Podcast and Website
• Visit CIBC for more Smart Advice
• CIBC Ambitions Index
• Ipsos

• Each generation has different financial goals; Gen Z’s bold dreams, Gen X’s balancing act, and Boomers’ retirement plans reflect how they meet economic shifts.
• The CIBC Ambitions Index, a groundbreaking inaugural study, reveals what drives these goals and the challenges holding people back.
• Senior Vice President of Public Affairs at Ipsos, Sean Simpson, joins us to unpack these insights, offering a clear lens on Canadians’ financial and personal priorities.

• The CIBC Ambitions Index, a comprehensive study, maps the goals, challenges, and shifting ambitions of Canadians.
• Health and wellness top the list, with 57% prioritizing a healthy lifestyle, while 85% focus on financial stability to secure their future.
• Personal relationships also matter deeply, as 49% emphasize building strong connections with family and friends.
• This balanced approach reflects a post-pandemic reset, where Canadians spread their energy across multiple domains rather than fixating solely on career or wealth.

[04:29] Sean Simpson: “We can see through health, through finance and relationships that Canadians are really striving for a balanced approach, not putting all their attention on their career, not putting all their attention on health, but spreading their goals across many different ambitions.”

• Despite rising costs and economic uncertainty, 68% of Canadians remain steadfast in pursuing their goals.
• Strategic task prioritization and effective time management fuel this resilience, keeping progress on track.
• Celebrating small milestones proves crucial, with those who regularly review and acknowledge achievements showing greater motivation.
• Optimism prevails, as 61% feel confident about future successes, demonstrating a collective ability to navigate headwinds with purpose.

• Carissa and Sean discuss the generational differences in ambitions, with Gen Z being the most ambitious and optimistic.

[09:05] Sean Simpson: “Gen Z is, while focused on the long term, I think has put a little bit more focus on almost bite sized ambitions or shorter term ambitions where they're able to recognize their progress and build on that.”

• Millennials prioritize saving for a home and spending quality time with family, while Gen X focuses on financial stability and retirement.
• Boomers aim to preserve their wealth and maintain financial independence without relying on their children.

• Economic challenges, dubbed a "poly crisis," steer Canadians toward short-term goals, aiming to focus on the most urgent concerns.
• Soaring housing costs, high inflation, and elevated interest rates push 61% to focus on immediate needs like debt repayment and emergency funds.
• Long-term goals, such as retirement savings, often take a backseat as time-sensitive financial demands pile up.

[12:55] Sean Simpson: “Everybody realizes that if you don't put that away now, you're going to struggle later in life. Absolutely. But some may not be able to afford to do that right now.”

• Affordability constraints force a practical mindset, and Canadians are adapting to live in the now while still eyeing future stability.

• Financial independence takes unique forms across generations, shaped by distinct hurdles.
• For Gen Z, it means covering tuition or living without roommates, while Millennials strive for homeownership and stable budgets.
• Gen X focuses on building nest eggs to retire comfortably, avoiding work into later years.
• Boomers prioritize preserving wealth to remain self-sufficient, with mental health emerging as a key barrier for Gen Z, intertwining emotional and financial well-being.

• Financial advisors serve as vital partners in turning ambitions into reality, with 60% of successful Canadians leveraging their resources.
• Strategic planning support helps set and prioritize goals, while skills development tools enhance financial literacy.
• Networking and guidance from banks strengthen support systems, fostering resilience.

[20:08] Sean Simpson: “Canadians who are successfully advancing their ambitions are more inclined to utilize their bank as a resource for achieving their goals, with a usage rate of 60% compared to only 49% among those who aren't.”

• Traditional financial assistance, like investment and tax planning can help Canadians progress toward their financial goals.

• Current economic uncertainties, from tariffs to market volatility, mark a unique moment, yet hope persists.

[23:35] Sean Simpson: “I think Canadians will make even more progress on their ambitions than they have in the last year, which has no doubt been challenging, but rewarding at the same time.”

• As challenges like job anxiety and inflation ease, we may see greater progress toward ambitions.
• 68% of surveyed Canadians feel that they are advancing toward their goals, setting the foundation for bolder aspirations.
• With reduced uncertainty, the pendulum may swing back toward long-term planning, inspiring new ambitions and sustained optimism.

Sean Simpson is the Senior Vice President of Public Affairs at Ipsos, with over 15 years of expertise in public opinion polling, reputation management, and social trends research. Specializing in understanding Canadian behavior, Sean leads Ipsos’ public affairs research, providing insights into financial independence, political behavior, and consumer confidence. His work, including the CIBC Ambitions Index, empowers organizations and individuals to navigate economic and social challenges with data-driven strategies.

A trusted media spokesperson, Sean regularly appears on Global News, CTV and CP24, translating complex data into actionable insights. Passionate about education, he teaches survey design at the Laurier Summer Institute for Research Methods, helping professionals and policymakers make informed decisions in a rapidly changing world.

Connect with Sean Simpson on LinkedIn.

If you did, be sure to subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family. A third of the way into 2025, we’re seeing new financial challenges crop up. But similarly, Canadians are rising to meet them. Financial stability and independence are realistic, achievable goals that we can reach once we use all the tools available to us.

Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, or Instagram.

Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts.

Market volatility isn’t new, but over the past year it has intensified due to tariff tensions, unpredictable interest rates, and persistent inflation, leaving investors to navigate contradictory and confusing economic signals. This raises a critical question for investors: how can you make wise decisions when news cycles outpace policy changes and traditional indicators seem  unreliable?

In this episode of Smart Advice, host Carissa Lucreziano welcomes back David Wong, Chief Investment Officer and Head of Total Investment Solutions at CIBC Global Asset Management. With decades of experience guiding investors through economic storms, David brings clarity to a chaotic moment. He breaks down what’s really happening with Canadian and global markets, discusses the potential for recession amid tariff uncertainties, and highlights the evolving roles of fixed income, gold, and alternatives in a diversified portfolio. Additionally, David also explores the impact of artificial intelligence as a future growth driver and its potential implications for investment strategies. He emphasizes the importance of staying invested during turbulent times and offers insights into low-volatility equity strategies as a practical approach to managing risk.

This episode provides a strategic perspective on investing, offering practical insights on managing risk and refining your investment strategy amidst the noise of the headlines.

1. Understand how global tariff tensions and inflation are shaping Canadian markets—and what that means for your investment strategy.
2. Discover effective strategies for building a resilient, diversified portfolio that can weather short-term volatility without sacrificing long-term growth.
3. Explore the influence of artificial intelligence and alternative investments on market trends and your investment approach.

• CIBC's "Smart Advice" Podcast and Website
• Visit CAM Investment insights for timely expert insights and research 
• Visit CIBC for more Smart Advice
• Chicago Mercantile Exchange FedWatch Tool

• McKinsey Study on AI Adoption
• Goldman Sachs Forecast on AI Impact

• Market turbulence in 2025 means Canadians need to adapt their investment strategy.
• David Wong describes the current market in one word: “challenged”.

[02:41] David: “More than anything, the uncertainty surrounding where tariffs will ultimately settle is creating challenges on planning for investments from businesses and big ticket purchases from consumers.”

• He outlines the major factors distorting traditional economic indicators—particularly tariffs—and explains how these distortions complicate policy decisions.
• As uncertainty continues to cloud the outlook, the importance of adaptable, long-term strategies becomes even more apparent.

• Two possible economic scenarios are in the Bank of Canada’s latest monetary policy report—one involving tariff resolution, and the other pointing toward global trade conflict.
• Interest rate expectations in the U.S. have shifted; markets are now pushing back rate cut forecasts due to persistent inflation.
• In Canada, rising unemployment and stubborn core inflation have increased the risk of recession, adding more weight to central bank decisions.
• Rather than react to every policy shift, a better investment strategy may be to build diversified portfolios that reflect multiple possible outcomes.

[09:07] Volatility and market reactions

• Market movements in April reflect just how reactive investors have become to tariff-related headlines, swinging sharply with each new development.
• David emphasizes that inflation remains a key concern—one that hasn’t been resolved post-COVID and could be exacerbated by global trade tensions.
• In times like these, staying invested and resisting panic is more valuable than ever, especially for those with a long investment horizon.
• Low-volatility equity strategies are suggested as a practical way to stay the course while addressing investor concerns around risk.

[13:08] Investment allocation and diversification

• Carissa raises the question of whether investors should stay Canada-focused or explore U.S. and international markets for growth.
• David explains that while U.S. exposure has historically delivered strong returns, overconcentration can pose risks—especially in uncertain times.
• Artificial intelligence is flagged as a future growth driver with long-term potential. However, it likely will not make a significant impact for several years.
• Diversification across regions, sectors, and asset types—including gold and fixed income—is presented as a foundational strategy for resilience.

[20:33] Risk management and investment approach

• Risk isn’t just about volatility, it’s about understanding what drives market changes and how to prepare for them.

[21:06] David: “Reward and risk are related concepts, and you simply can't get reward without taking some level of risk.”

• David introduces CIBC’s Managed Solutions framework, built on three pillars: purpose, structure, and fulfillment.
• By focusing on fundamental diversification, his team aims to deliver consistent value even in unpredictable market conditions.
• Balancing short-term noise with long-term discipline remains key, especially as markets send mixed signals on a daily basis.

[26:07] Final thoughts and investment framework

• David urges listeners to develop a clear investment framework aligned with their financial goals.
• He reinforces that earnings growth and bond yields—not daily headlines—are the real engines of long-term returns.

[26:49] David: “The fear of missing out can be just as dangerous as overreacting to negative news. It's the Scylla and Charybdis of investing.”

• It’s critical to contextualize media-driven fear and avoid impulsive decisions; overcorrecting due to media can severely damage a portfolio.
• Canadians can confidently navigate market uncertainty, but have to remain disciplined while diversifying their portfolios and utilizing expert insight.

David is responsible for CIBC Global Asset Management’s managed solutions investment process and portfolio management. His Total Investment Solutions team helps to determine the asset allocations and the construction of portfolios, researches, evaluates, and helps select the managers, and monitors the investments of the firm’s roughly $80 billion managed solutions programs. The team is also responsible for trading execution, beta management, and performance and risk oversight across all of CIBC Global Asset Management. In addition, David is a member of the CIBC Family Office’s Leadership Team and provides institutional asset allocation advice to ultra-high net worth individuals and families.

David joined CIBC Global Asset Management in July 2011, and served as Managing Director, Investment Management Research (IMR) until June 2021. David has more than 26 years of industry experience in New York and Toronto.

Connect with David Wong on his LinkedIn.

If you did, be sure to subscribe and share it with your friends!

Post a review and share it! If you enjoyed tuning in, leave us a review. You can also send this with your friends and family. The economy may be unpredictable, but your investment strategy doesn’t have to be. Equip yourself with timeless strategies that work, even when the markets don’t.

Have any questions? You can connect with me on LinkedIn or through CIBC’s Facebook, or Instagram.

Thanks for tuning in! For more updates, visit our website. You can also listen to more amazing episodes on Spotify or Apple Podcasts.