Tax expert Jamie Golombek, Managing Director of Tax & Estate Planning at CIBC Private Wealth, joins us for an in-depth conversation on the new higher capital gains inclusion rate, and what this change could mean for Canadians and their future financial decisions—including individuals, investors, and businesses or corporations. If you might be affected by the change, you’ll want to listen to this episode! 

Here are three reasons why you should listen to this episode: 

1. Learn about the changes to the capital gains tax inclusion rate that took effect on June 25th, 2024.
2. Find out how the changes affect people with vacation homes/cottages and rental properties, investors, and corporations and businesses.
3. Discover the impact of tax planning with long-term strategies and advice.

Resources 

• Visit CIBC for more smart advice
• Read Jamie Golombek’s column “Tax Expert” in the National Post

Episode highlights 

[02:40] Current rules vs. proposed changes 

• Jamie says it’s a big change, but only affects a small number of people each year. The change affects people who realize capital gains outside of a registered plan that total more than $250,000 in a calendar year.
• Jamie says the change will also affect individuals who sell a vacation property, income or rental property. Or, if the property isn’t transferred to a spouse or partner via spousal rollover, the estate may be liable for taxes.

[04:40] “If we really want to break it down, what does this really mean for those who are affected? For individuals, it’s only gains over $250,000, and effectively your tax rate is going up by nine percentage points.” 

[05:51] Who the changes will affect

[06:30] Individuals with a second home/cottage/vacation property 

• Jamie notes that if you will have higher capital gains from selling your vacation property, you can use the principal residence exemption.
• If a vacation property is jointly owned by two spouses or partners, capital gains can also be split 50-50. Each individual can take advantage of lower 50% inclusion rate on first $250,000 in capital gains. This also applies to jointly owned rental properties.
• Jamie suggests tracking capital expenditures, like a major renovation, that add to the property’s value. These can be added to your adjusted cost base for tax purposes. When you sell, the capital gain will be lower because cost will be higher.

[09:10] Cottage owners 

• Jamie notes one interesting opportunity for some clients is permanent life insurance if there’s no cash in the family to pay capital gains taxes if you die and someone inherits your cottage. The amount of insurance you need only needs to cover the taxes. This can be done affordably if you’re in relatively good health and relatively young.

[12:11] Investors

• Jamie predicts for 2024, the new term will be “capital gains selling.”
• Jamie advises to look at your broader portfolio allocation and holdings, and speak to your advisor to see if there are opportunities to crystallize a gain and rebalance portfolio. By end of the year, as long as the capital gains are less than $250,000, you will pay a preferred rate on the capital gains tax.

[14:56] Corporations or businesses 

• Jamie says that many professionals use corporations because of the substantial tax deferral. But with the recent change, there’s have a problem: if you earn capital gains, you don’t get the $250,000 break of the lower threshold in the corporation. This means you would be better off if you earned the gains personally vs. in a corporation.
• For new business owners, the real concern is if you’re building up an investment portfolio internally, you’re really disadvantaged.

[17:37] “I think that you really need to look at the value of deferral. If you’re not leaving at least $100,000 or more a year in the corporation, and you’re deferring tax on that, you have to question, is it worth paying that extra tax ultimately on the capital gain rather than having that investment done personally?” 

[17:56] Will the capital gains inclusion rate ever go back down? 

• Jamie says it will depend on what future governments do. A new government could get elected and reduce the inclusion rate.

[19:18] “Ultimately it really is a political issue, and I think it will depend on who comes in, and the budget, and ultimately spending and how they can manage the deficit and also the long-term debt.” 

[19:46] Tax planning tips

• Jamie advises sitting down with a financial advisor, tax advisor, or an accountant to make sure you’re taking advantage of registered plans, such as a registered retirement savings plan (RRSP), tax-free savings account (TFSA), first home savings account (FHSA), registered education savings plan (RESP), or registered disability savings plan (RDSP).
• A financial advisor can also help you with strategies such as splitting pension income, making charitable donations, keeping wills up to date, and designating powers of attorney.

[21:10] “There’s so much to talk about, but you can’t do this alone. So, I think the best advice is to get advice. In other words, if you’re not confident with your own plan, reach out to your advisor. Whether it’s a financial advisor or a tax advisor, they will be able to go through some very basic strategies that will help you get on track and hopefully reduce the amount of tax that you pay.” 

About Jamie Golombek 

Jamie Golombek is the Managing Director of Tax & Estate Planning at CIBC Private Wealth, and is quoted frequently in the national media as an expert on taxation strategies for Canadians. He also writes a popular weekly column called “Tax Expert” in the National Post. Jamie teaches an MBA course in Personal Finance at the Schulich School of Business at Toronto’s York University in Toronto. 

Connect with Jamie on his website, follow him on X, and check out his “Tax Expert” column. 

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Get ready for an in-depth conversation with savvy real estate investor Scott McGillivray, as he shares the ins and outs of his journey from a university student facing housing challenges to a real estate investment guru. Discover Scott's strategic approaches to investment, key financial insights, and personal anecdotes that highlight the resilience required to thrive in the competitive world of real estate.

Whether you’re an aspiring entrepreneur or a Canadian looking to dip your toes into real estate investing in Canada, this episode is for you!

1. Learn the value of leverage when it comes to your capital — whether that’s actual cash or equity.
2. Find out why it’s critical to tap into expertise, building a team of professionals to support you along your homeownership journey.
3. Discover the reality of real estate investing in Canada — and why you should start right now.

• Visit CIBC for more smart advice
• Watch episodes of Income Propertyfor lessons on how to leverage your home as a real estate investment.
• Watch episodes of Buying In for more real estate advice.

• Scott started his real estate journey while in university after facing the challenge of finding affordable housing.
• It wasn’t necessarily about wealth at the time — back then, it was just about finding a reliable place to live.
• His first shot at real estate investing in Canada was prompted by a suggestion from a realtor to buy instead of rent.
• Although his family and friends cautioned him against buying real estate, he elected to listen to his real estate agent, financial advisor, and mortgage advisor instead.

“Why take financial advice from broke people when I have — I hate to say it — I have these people who have a track record of success with money, giving me different advice?”

• Scott explains his aggressive strategy of using equity from one property to buy more, scaling up rapidly.
• He discusses transitioning from basic cash flow focus to long-term equity building and strategic financial planning.

[09:24] “You have to be ruthless about achieving your goals. And you have to make smart goals. So set up your goals to make sure that they're realistic, they're time bound, that there's a certain metric attached to them.”

• The evolution of his business model included learning to manage and leverage financial tools and market changes effectively.

• Scott advises new investors to make decisions based on logic and calculations rather than emotions.
• Another critical piece of advice to new investors is to dislike failure, rather than fear it.

[20:36] “You can hate losing, that's great, but you can't be afraid of it. You just have to learn how to understand this part of the process. It's worth losing ten times, it's all worth it when you win that one time. But if you're afraid, you never get the win.”

• He stresses the importance of being proactive in creating positive cash-flowing properties as they rarely come ready-made.
• Scott encourages new investors to educate themselves and use professional advice to navigate the real estate market.

[22:55] “When the work needs to be done, the best thing you can do is lead by example.”

• Scott reflects on the importance of persistence and adapting to market conditions throughout his career.
• He shares personal anecdotes of overcoming challenges and leveraging opportunities that seemed daunting at first.
• Scott discusses the value of learning from both successes and failures, emphasising  continuous improvement.

• Scott talks about adapting strategies to cope with economic changes, such as interest rate fluctuations and market dynamics.
• He expresses optimism about the future of real estate and the potential for continued growth and adaptation.
• Scott emphasises the importance of long-term planning and strategic investment to navigate through varying economic climates.

[43:55] “One of the biggest secrets to succeeding as an entrepreneur, I believe, is making sure that other people get to their goals.”

• He concludes by sharing his commitment to both personal growth and helping others achieve their real estate goals.

Scott McGillivray is a prominent Canadian real estate expert, entrepreneur, and television host, renowned for his expertise in real estate investments and home renovation. With his extensive knowledge and charismatic presence, McGillivray is a powerful force in the real estate world, dedicated to educating people about investment strategies and the potential for real estate to generate wealth. 

Scott McGillivray's journey from a college student to a real estate magnate is not just inspiring but also a testament to the power of knowledge, strategy, and persistence in achieving financial independence.

Connect with Scott on his website, or follow him on Facebook, Instagram, and X. You can also subscribe to his YouTube channel for a wealth of real estate investment advice.

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Post a review and share it! If you enjoyed tuning in, leave us a review. You can also share this with your friends and family — especially if you know anyone looking to begin their journey into real estate investments.

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In this episode of the Smart Advice Podcast, we delve into the financial factors and emerging trends shaping the lives of Canadians today. Joined by Andrew Grenville, Executive Vice President of Research at Angus Reid, we explore a range of topics, from the significant impact of rising living costs, to the evolving spending habits that prioritize savings over brand loyalty.

We also discuss the varied financial goals of Canadians, including retirement and travel, and the shifts in consumer behavior that are redefining the Canadian economic landscape. This insightful conversation sheds light on the challenges and hopes that define the financial realities for many today.

Tune in to gain valuable perspectives that could help you balance Canadian living costs against your financial goals.

1. Find out how Canadian living costs are reshaping how we spend our money.
2. Learn how Canadian spending habits have changed over the past five years.
3. Discover the kinds of financial goals Canadians have — and how it seems that everyone wants the same thing.

• Visit CIBC for more smart advice
• Read the Angus Reid Consumer Economic Pulse
• Read Eureka! The science and art of insights
• Read The Insights Revolution: Questioning Everything

• Nearly 70% of Canadians express concern over their financial future, while only 20% feel confident about their retirement security.
• Financial anxiety is widespread across Canada, with minimal regional differences.
• The majority of Canadians now allocate most of their budget to living costs, significantly impacted by rising food prices.
• Despite the pandemic being in the past, its effects continue to influence Canadian society and spending habits.

• Approximately 54% of Canadians hold a positive outlook on their financial future, notably among the elderly and younger generations.
• Middle-aged individuals often feel less optimistic, experiencing greater financial pressure.
• Despite some optimism, around 75% believe future generations will face a lesser quality of life in Canada.
• Half of the population struggles to save money, with many barely managing to meet month-end expenses, highlighting a significant challenge in achieving financial security.

• Brand loyalty is taking a back seat to cost savings among Canadian consumers.
• The rising cost of living has led to more intentional spending, which is positively viewed.
• There's a noticeable shift towards cheaper brands and reduced spending on non-essentials to ensure bills are paid.

• Retirement remains a primary saving goal, yet there's also a strong interest in travel.
• Home ownership continues to be a goal, largely dependent on the individual's life stage.
• Other common saving objectives include addressing credit card debt and mortgage payments.
• However, only slightly more than half of Canadians are confident they can meet their financial goals.

• Uncertainty about living costs and finances is expected to persist, influencing consumer behavior.
• A continued move away from brand loyalty towards more deliberate financial decisions is anticipated.
• There's a likely shift towards valuing experiences over possessions, particularly in travel.

Andrew Grenville is a seasoned market researcher with over three decades of experience in the industry. As the Executive Vice President of Research at Angus Reid, one of Canada's leading public opinion research firms, he has spearheaded numerous studies that delve into the behaviors, beliefs, and economic conditions affecting Canadians.

Andrew is also an accomplished author, having published significant works in the field of market research, including books like "Eureka: The Science and Art of Insights" and "The Insights Revolution: Questioning Everything." His expertise and insights have been instrumental in shaping understanding of consumer trends and economic challenges across Canada.

Read more about Andrew on the Angus Reid website, or connect with him through LinkedIn.

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Post a review and share it! If you enjoyed tuning in, leave us a review. You can also share this with your friends and family to give them insights on managing rising Canadian living costs while still pursuing their financial goals.

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Dive into the complexities of the Canadian housing market with our latest episode of "Smart Advice," where we explore the challenging landscape of real estate affordability, market dynamics, and government policies. 

In this episode, CIBC’s Deputy Chief Economist, Benjamin Tal dissects the ongoing affordability crisis, stagnating market trends, and the anticipated impacts of governmental and economic shifts on both buyers and investors. 

Whether you're a homeowner, potential buyer, or investor, this episode offers invaluable insights into navigating the uncertainties of the Canadian housing market and preparing for upcoming financial challenges and opportunities.

Tune in to gain expert advice and stay informed about the future of real estate in Canada.

1. Gain insights through an in-depth analysis of the Canadian housing market from CIBC’s Deputy Chief Economist Benjamin Tal
2. Find out what’s to come in the real estate market for 2024 and 2025
3. Learn more about mortgage renewal strategies for homeowners in the current interest rate environment

• Read more from Benjamin Tal in CIBC’s 2024 Canadian housing outlook
• Visit CIBC’s Capital Markets Insights Hub 
• For more information on applying for, renewing or switching you mortgage visit CIBC.com

• Despite recent market cooling, prices are still 38% higher than pre-pandemic levels.
• The affordability gap fosters potential social unrest and fuels anti-immigrant sentiments.

[04:09] Benjamin: “This is not a mild recession. This is a major crisis when it comes to affordability.“

• A significant portion of Canadians find homeownership unattainable, with saving for a down payment being a formidable barrier.

• The slowdown has neither stimulated buyer nor seller activity, creating a stagnant market environment.
• Short-term softening of the market is expected due to high supply and low demand.
• However a future rebound may occur as investor interest revives post rate cuts.

[06:46] Benjamin: “We have to realize that we need much more supply of rental units in order to tackle this affordability crisis that we're facing.”

• High interest rates and negative cash flows deter investor participation, affecting overall market dynamics.

[10:25] Benjamin: “With no demand and supply still in the market, I see the condo space relatively soft. After that we get to see it's starting to go down and no supply in the market, you will see investors going back into the market, but that will be a year from now, two years from now.”

• Government measures are seen as inadequate to tackle the severe affordability crisis effectively.
• Experts call for an emergency-level response to increase housing supply and address market imbalances.
• There may be an increase in dissatisfaction among Canadians towards the government's handling of the housing situation.

• Proposed increases in capital gains tax may discourage new investments and dampen economic vitality.

[12:59] Benjamin: “It seems that the Bank of Canada is overshooting by design. They want to make sure that inflation is dead before they cut interest rates and there are very good signs when it comes to inflation.”

• Potential rate cuts by the Bank of Canada could rejuvenate the market but depend heavily on several other economic factors.
• The Canadian economy's performance and U.S. economic trends heavily impact investor decisions and market forecasts.

• Upcoming mortgage renewals at higher interest rates pose significant financial challenges for homeowners.
• Many Canadians will be renewing their mortgages soon, making it important to plan strategically and consult with financial advisors.
• Financial institutions are preparing for increased delinquencies by adjusting funds and renegotiating terms with affected homeowners.

[20:59] Benjamin: “So what do you want to do? Well, it depends on your situation, of course, depends on your risk appetite. But in general, it would be not a bad idea to try to buy time to take a short term mortgage, namely one, maybe two years mortgages by the time and then ride the variable rate mortgages later and take advantage of the fact that the trajectory would be downward as opposed to upward.”

Benjamin Tal is a prominent Canadian economist and the Deputy Chief Economist at CIBC, one of Canada's leading banks. With years of experience in economic analysis and financial forecasting, Benjamin is widely recognized for his expertise in analyzing macroeconomic trends and their implications for the global and Canadian economies.

At CIBC, he plays a crucial role in advising both the bank and its clients on economic developments and investment strategies. His analytical skills and deep understanding of economic intricacies make him a respected figure in the financial community.

Learn more about Benjamin through CIBC. 

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Trying to make sense of the current investment landscape? Worried about inflation eating away at your savings? Want to create a predictable income stream for your future? This episode is for YOU, the Canadian investor seeking smart strategies to build wealth.

In this episode of the Smart Advice Podcast, we are joined by David Scandiffio who is the President and CEO of CIBC Asset Management. David discusses the importance of diversification, asset allocation strategies for different life stages, and opportunities for growth, like private investments. David also shares an optimistic vision for the evolution of investing tools and technologies to better serve investors of the future.

Whether you're just starting your investing journey or looking to protect the wealth you've accumulated, this interview provides practical tips that anyone can apply to help meet their financial goals. By listening to this full interview, you'll learn strategies to help you invest with confidence no matter what challenges the markets may bring. 

If you want actionable advice on growing your money throughout every phase of your life, tune into the full episode.

• Visit CIBC for more smart advice
• CIBC Asset Management
• Linkedin - CIBC Asset Management

• David discusses the importance of adding alpha for clients, highlighting CIBC Asset Management's focus on investment alpha.
• CIBC Asset Management's team of 90 investment professionals manages approximately $200B in assets.
• David emphasizes the importance of alpha in investment management, defining it as value added beyond benchmark performance.
• He highlights how the company adds value through consulting services, managed solutions, and balanced investment strategies.

• David Scandiffio, CEO of CIBC Asset Management, discusses the importance of diversification and starting to save and invest early.
• Macro environment challenges include rising interest rates and inflation, impacting bond holders and mortgage payments.
• David highlights the challenges of investing in a world with high debt levels and geopolitical uncertainty.
• He advises investors to focus on long-term diversified strategies and avoid short-term distractions.

• David and Carissa discuss inflation and rate environment, emphasizing diversification and market timing.
• They dive deep into the inflation and interest rate trends, emphasizing the importance of asset allocation.

• Investors can consider ETFs, bonds, and alternatives like private markets and liquid alternatives for diversification.
• Professional portfolio managers can use ETFs for trading and deleveraging advantages, and direct investors can access them through standalone direct investments or managed solutions.
• David discusses private markets and investment opportunities outside of public markets, including private equity, real estate, and credit.
• Advantages of private investments include flexibility and diversification, with examples of large pension funds investing in infrastructure projects and private credit funds lending to companies.
• David also mentions pension plans have up to 50% of their plans invested in private markets, while individual investors have limited access.
• He suggests that managed solutions or balanced portfolios are the best way for individual investors to access private investments while avoiding the need to manage them on their own.

• David expands on the "Magnificent Seven" tech stocks, including Apple, Microsoft, Amazon, Alphabet, and Tesla, which have driven the S&P 500's growth in 2023.
• Carissa raises concerns about a potential bubble in these stocks, citing their high growth rates and forward-looking earnings expectations.
• To address her concerns, David discusses the potential for growth in AI companies, citing Nvidia as an example with a strong pipeline and moat.
• David highlights the importance of understanding market expectations and valuations, particularly in the US and Canadian markets.

• David shares how some of his clients prioritize capital protection, reducing risk assets (e.g., small-cap, emerging market equities) and leaning towards quality, dividend-paying companies.
• Bonds offer decent yield with lower tax advantage, but bonds trading at a discount to par can provide tax-advantaged capital gains.
• He emphasizes the importance of investing for long-term wealth growth.
• David also highlights the importance of data and AI in investment management.

David M. Scandiffio, CFA brings over three decades of experience in wealth management and investment to his role as President and CEO of CIBC Asset Management.  He joined CIBC in 2015 and is responsible for steering the bank's entire retail and institutional asset management business, including its portfolio management team.

Prior to CIBC, Scandiffio served as President of IA Clarington Funds for more than a decade. He also held the position of Executive Vice President of Wealth Management for Industrial Alliance Life Insurance Company, a subsidiary of IA Clarington.  This extensive background positions him as a key leader within CIBC's Wealth Management Executive Team.

Scandiffio is a strong proponent of responsible investment and has been instrumental in establishing CIBC Asset Management as a leader in this field.  He holds a Bachelor of Science in Actuarial Science and Economics from the University of Toronto and is a CFA charter holder.

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Post a review and share it! If you enjoyed tuning in, leave us a review. You can also share this with your friends and family to give them in-depth insights into the resilience of the Canadian economy.

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Season 1 of the Smart Advice Podcast brought a wealth of financial advice, tips and insights to help support Canadians along their financial journey. We covered a variety of timely and important topics, from the state of the economy and the markets to advice around investing and saving for life’s major goals.

In this bonus episode, we  look back at highlights from this season that can better position you for a successful 2024.

If you’re new to the Smart Advice podcast and want to learn more about the topics we cover , or you’re a loyal listener looking for the biggest takeaways of the year, this episode is for you.

• Visit CIBC for more smart advice
• If you want more insights, check out these previous Smart Advice podcast episodes:
  • Beyond the 60-40 rule: Rethinking the asset mix for modern investors with David Wong
  • Rent vs buy: A conversation with Benjamin Tal  
  • Banking on resilience: An outlook on Canada’s financial sector
  • The great Canadian wealth transfer: From baby boomers to beneficiaries  
  • Estate planning simplified: The Willful way with Erin Bury 
  • How the FHSA helps first-time Canadian homebuyers with Jamie Golombek 
  • What's next for inflation and interest rates? with Avery Shenfeld 
  • The art of financial multi-tasking with Rob Carrick 

• A portfolio with 60% stocks and 40% bonds has provided a long-term balance of growth and stability.
• Remember that in the short term, you will face volatility in the market. When your assets are not diversified, it’s easy to make bad decisions.
• There’s a spectrum within the equity market. This includes markets that are from developed or emerging countries; as well as small-cap and large-cap markets.
• In bond markets, there’s a difference between value investing and growth investing.

[03:43] David Wong: “The more granular we can get in that asset mix, the more we can give better potential reward to risk in our portfolios.”

• The changing real estate market has made many Canadians rethink homeownership options.
• There is nothing wrong with renting property. In fact, this may be the more sensible decision for some.
• Real estate investors should realize there will be more families looking to rent and prefer dealing with a landlord linked to a company.
• Demand for purpose-built rentals is rising annually, yet Canada does not have a good supply.

• The US banks are not likely to impact Canadian banks.
• The Canadian financial sector is much more regulated with 6 major banks and some financial institutions. On the other hand, the US has over 4500 banks.
• Over the past 10 years, the US had 73 bank failures. Canada did not face any bank failures in nearly 100 years.

• Passing along assets is not a simple task, some may have tax implications.
• Before thinking about gifting, you need to make sure you’re in a good financial position to do so.

• Willful was founded for everyday Canadians who  need a simple way to set up a will.
• Insurance is about planning for people you will eventually leave behind. Similarly, an estate plan gives your family assets.

[14:43] Erin Bury: “This is not something you should be waiting to do until retirement. As soon as you have assets to protect, loved ones like a spouse that you want to ensure know your wishes, or children that you'd want to make sure [are] accounted for, even pets more increasingly these days. It's time to think about getting a will…this is not a really time-intensive cost cost-prohibitive process anymore.

• The FHSA helps first-time homebuyers by giving a tax-deductible contribution of up to $8,000 a year for five years.
• The FHSA is now available at CIBC

• Interest rates will eventually stop inflation from rising, we just need to be patient.
• Lower interest rates may start by the spring of 2024.
• Currently, the rate of interest is at 5%. By the end of 2024, this may fall as much as 3.5%.
• However, a 3.5% interest rate is still double the rate of the last business cycle; so, most Canadians would still find this rate very high.

[17:49] Avery Shenfeld: “Interest rates are high enough to do the job. That doesn't mean that inflation is going to magically melt away tomorrow, we're going to have to go through some economic pain, some period of slower growth, [and] a bit of an upturn in unemployment, before we cool spending power enough for inflation to come down. Our view is that…the impact of all those prior rate hikes was kicking in even before the Bank of Canada's last interest rate decision, which was back in July, was slowing spending. And with time, that will bring relief on the inflation front. So we'll need to be patient.”

• We live in an age where people in their 20s are already buying houses and saving for retirement.
• The reality is that these people are exceptions. Many are struggling to save, much less thinking about retirement.
• Most people have the mindset that 65 years old is the start of retirement. However, working longer may be more strategic and keep you active.
• If you consider working past 65 years old, start thinking about how you can shift to a consulting type of relationship in your career.

[20:57] Rob Carrick: “If we were to talk to more people in our position more of our peers, honestly about money, we'd find that there's a lot of people with the same struggles as us, I think that will calm and relax us and make us feel that I have time. And you know what, I got a late start on saving for retirement, but I'm doing it now and I'm 100% committed and I'm going to make up for lost time…getting into the housing market…you could do it in your late 30s, you could even do it in your early 40s. If you are willing to work past 65, time can help take the pressure off.”

[22:11] Rob Carrick: “In your 50s…in your career, start thinking about how am I going to create a post-65 reduced workload consulting type of relationship from what I'm doing now.”

The Smart Advice Podcast has hosted a powerhouse of guests from CIBC and supporters. We thank our colleagues for their immense support for this program: 

• David Wong, CIBC Managing Director and Head of Total Investment Solutions
• Jamie Golombek, CIBC Managing Director, Tax and Estate Planning
• Benjamin Tal, CIBC Deputy Chief Economist
• David Andrich, CIBC Senior Equity Research Analyst
• Richard Voss, CIBC Director of Wealth Strategies
• Marilyn Andrade, CIBC Senior Trust and Estate Consultant
• Mark Herzog, CIBC Managing Director and Head of Institutional Equities
• Erin Bury, Willful CEO and Co-Founder
• Tashia Batstone, President and CEO of FP Canada
• Scott McGillivray, Real estate expert, contractor and media personality
• Avery Shenfeld, CIBC Managing Director and Chief Economist
• Robertson Velez, CIBC Global Equities Portfolio Manager
• Rob Carrick, Globe and Mail personal finance columnist

To learn more about our guests, refer to our episode show notes and highlights.

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 share this with your friends and family to give them in-depth insights into the resilience of the Canadian economy.

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.

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Navigating rising housing and grocery prices, managing bills, and dreaming of homeownership by 30? Wondering if retiring at 65 is still feasible? The financial roadmap has shifted from what our parents and grandparents once knew.

The art of financial multi-tasking—juggling multiple financial goals simultaneously—can be a game-changer. It allows you to steadily chip away at your financial milestones, ensuring you're not just focused on one, but making progress across the board.

In this episode of Smart Advice, Globe and Mail personal finance columnist Rob Carrick offers a real-world view of modern finance. Drawing from over three decades of personal financial experience, he understands the evolving milestones of today, different from yesteryears.

Join us to explore whether you should still chase the financial dreams of previous generations or carve out your own path.

Resources

·         The Stress Test Podcast

·         Carrick on Money

·         Financial advice for every step of the way available on CIBC Smart Advice

·         Connect with Rob Carrick on: LinkedIn | Twitter | Website | Globe and Mail

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Artificial Intelligence (AI) has been a popular topic in recent years, especially with the advancement of generative AI and the creation of tools like ChatGPT. People and businesses alike are exploring ways to integrate the technology into our daily lives from education and services, to businesses and investing.  

To look at the growing opportunities for generative AI in finance, Robertson Velez is here to join us on Smart Advice. He is a Portfolio Manager with CIBC’s Global Equities team responsible for stock selection, portfolio construction and risk control for the Technology and Communications sleeves of the Renaissance Global Technology Fund and CIBC Global Technology Fund. He also has a 12-year career in computer engineering. This makes Robertson uniquely qualified to help us better understand the impact of AI on finance and beyond. He dives into how AI has been used in the past while identifying opportunities for the future. 

Join us as we discuss the growing use and potential of generative AI on this episode of Smart Advice.

Resources

·         CIBC Smart Advice

·         Read the CIBC Asset Management Market Spotlight on Generative AI

·         Watch Generative Artificial Intelligence: What investors need to know

·         Listen to Robertson Velez on the Advisor To Go podcast: Identifying investment opportunities in AI

·         Learn more about the CIBC Global Technology Fund

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The strength of the economy and how it impacts Canadians is top of mind right now. Over the last year, Canadians have faced high inflation, multiple interest rate hikes and a rising unemployment rate. So it’s no surprise, many are wondering what to expect next.

In this episode, CIBC’s Managing Director and Chief Economist, Avery Shenfeld joins us to give his insights and analysis on the market and answer some pressing questions about the Canadian economy. From inflation and interest rates to buying and investing, Avery talks to us about the current economic situation in Canada and what it might look like in the next few years.

Listen to this episode and find out what the Canadian economy looks like today and how that can impact your daily life.

• CIBC Smart Advice
• Avery’s weekly newsletter, The Week Ahead
• View the latest research and commentary from CIBC's Economics team

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