When wealth advisors have introductory meetings with prospects the main focus should be on gathering as much background information as possible. This includes an understanding of where they have been, what their current situation is and where they see their future. A general overview of their objectives and risk tolerance is also part of this discussion, as well as their past investment management and planning experiences.
As the majority predicted, Governor Steven Poloz and the Bank of Canada raised the overnight target rate to 1.5%. Since the last rate hike in January, the Bank stood pat on further hikes in the previous three meetings; however the dovish nature to the statements began to diminish. That, coupled with the Fed raising their target rates in June, the quarter percent increase this morning shouldn’t have come as a surprise.