Shifting Seasons

September 2019

Summer is whirling to a close. Hurricane Dorian is spinning up the East Coast and seems to be heading for the Maritimes. Brexit is back on top of the news feed as Boris Johnson struggles to find his footing in Westminster. Hong Kong's proposed withdrawal of the extradition bill provided a breath of fresh air in an Asian headline cycle that has been decidedly negative. China's trade spat with America has simmered down in the past few days but remains one of the biggest market influences as we enter the last quarter.

As we hop over the long weekend, students head back to classrooms and life finds a bit more structure. The CBC recently ran an article on some of the financial pressures students face. This remains top of mind for us as well, and we're exciting to host another Financial Literacy for Millennials event later this month. See below for details!

 


Our office is moving to Guinness Tower!

We are happy to announce that later this month we will be moving to our new premises. Steps away from the historic Marine Building, our new office tops the Guinness Tower named after the family famed for their Irish stout.

Effective Monday the 16th of September, you can find us at our new address:

Guinness Tower
1055 West Hastings Street 
Suite 2200 
Vancouver, BC

V6E 2E9

 

 
In the Shopping Cart: Slated for Success

There is something quite satisfying about owning real estate. Whether it is your principal residence, a holiday home or an investment property, assets we can easily see and feel benefit from a tangibility bias. Real estate also transacts more slowly than other types of investment so we don't notice as much volatility. One of the most accessible ways of investing in real estate come through real estate investment trusts or REITs. There are a few we like; our feature this month is Slate Retail REIT.

 

Slate Retail REIT is unique as the only Canadian listed owner/operator of US grocery-anchored neighbourhood malls. Slate's focus is simple: acquiring attractive commercial properties anchored with large grocery businesses. With higher relative foot traffic than retail peers, grocery-anchored properties see less occupancy/lease rate volatility throughout the business cycle making them highly defensive. Slates experienced management team continues to successfully operate a portfolio of over 85 properties totaling approximately 11 million square feet. Here's a video of how they transform their properties to maximize the value for both tenants and investors.

We all need to eat. The deep value we see in this underappreciated real estate trust gives us some great food for thought.



Back to School: Millennial Wealth @ Craft Olympic Village

Back by popular demand, Financial Literacy for Millennials will be hosted again this month on Sept. 24th. We will once again be covering topics ranging from budgeting, investing and managing credit. Our material is best suited to ages 19-35, if there are some young adults in your circles who could benefit from a financial literacy advice event, please let us know. Attendance is complimentary for family and friends of clients. 

When: Tuesday, September 24th - 5:30pm
Where: Craft Beer Market - Olympic Village
             85 West 1st Avenue, Vancouver, BC

We've changed venues to Craft Beer Hall in Olympic Village which is steps away from transit and the major cycling corridors. Spaces are limited, please make sure to RSVP to Robert.McLean@RichardsonGMP.com as soon as possible.

 
End of Year Checklist

With the passing of Labour Day, we inch closer to the start of Autumn and with it year-end planning. Before we get caught up in the holiday season and look to warm escapes from the Canadian winter we wanted to touch on a few key points for you to consider as we enter the fourth quarter.

  • Budget check - How are you tracking on your budget for the year? Are you meeting your savings goals?
  • Seasonal expenses - How much are you anticipating to spend over the holiday season?
  • Expiring benefits - Are any of your benefits or entitlements expiring at year end? Plan ahead to avoid the rush.
  • Major financial events - If you've had any significant financial changes this year, check with your accountant to make sure there won't be any surprises on your tax return next year. Some strategies must be used in the year of the expense.

Key Dates

October 14th

Canadian Thanksgiving - Canadian Markets Closed

 

November 11th

Remembrance Day - Markets Closed

 

November 28th

American Thanksgiving - US Markets Closed

 

December 25th

Christmas - Markets Closed

 

December 27th

Last day for tax-loss selling to neutralize capital gains in 2019

 

December 31st

Last day for posting registered plan (e.g. RRSP, TFSA, RESP) contributions for 2019

Last day for eligible charitable donations to count for 2019

 

The Road Ahead: The latest steps for Richardson GMP

On August 6th, GMP Capital shareholders voted overwhelmingly in support of the previously announced sale of GMP's capital markets business to Stifel Financial. This takes GMP Capital a step closer to focusing its efforts on our Richardson GMP wealth management business, and provides a platform upon which we can continue to expand our wealth management service offering to you.  The Richardson family has reiterated their commitment to keeping Richardson GMP proudly independent and Canadian.
 

 
Chernick & Associates Wealth Management Group

Richardson GMP Limited
500 – 550 Burrard Street
Vancouver, BC V6C 2B5

Tel.: 604.640.0400
Toll Free: 1.866.640.0400

www.ChernickandAssociates.ca

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