Cumberland Private Wealth Management

Earlier this week, we hosted a group of golf enthusiasts for a special talk from our friends at Fox Harb'r Resort. Not only did we learn about what makes a great golf course with insights from Doug Carrick, we got to sample their wines and taste some delicious oysters from Rodney's Oyster House. Thanks to everyone for making it a great event.

Last night, we hosted our third Cumberland Foundations Circle event with guest speaker, Malcolm Macleod, author of “The Practice of Philanthropy”. We’d like to thank Malcolm and all of our guests for the work they do and for sharing their insights with us. Contact us if you’d like to learn more about our Foundations Circle and how you can participate at our next event.

Historical data challenges the notion that higher rates spell doom for stocks. Since 1990, the S&P 500 has often performed better during periods of rising interest rates, with average annual returns of 13.9%. Learn more in this latest article by Phil D'Iorio.

Debating the Bear Market Narrative - Cumberland Private Wealth Over the past year, the bear market narrative has transitioned from fears about a recession to renewed concerns about interest rates. The reason why interest rates concerns have re-emerged is due to several inflationary data points that were worse than expected. These hotter than expected inflation....

The Canada Revenue Agency will no longer require bare trusts to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust), unless they directly request these filings from an individual taxpayer. Learn more in this article or contact your Portfolio Manager.

CRA Drops Filing Requirements for Bare Trusts - Cumberland Private Wealth The Canada Revenue Agency (CRA) will no longer require bare trusts to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust), unless they directly request these filings from an individual taxpayer. This policy change was made to r...

Interest rates drifted slightly higher, inflation continued to trend downwards at a slower than anticipated pace, but the Canadian economy remained stronger than expected with a very modest beat in GDP growth in January , thus creating the environment for mixed bag return profile. What can we expect going forward? Learn more in Owen Morgan's latest commentary.

First Quarter 2024 Fixed Income Strategy Review - Cumberland Private Wealth Recall that in last quarter of calendar 2023 the yield curve decreased markedly (and as you readers and investors know, when yields drop, bond prices rise). The resulting bond price rally that occurred was the strongest quarterly return performance by Canadian bonds in over 20 years. At the time, so...

Currently, 45% of investors now believe the U.S. economy is headed for a “no landing” scenario where inflation falls
towards the Federal Reserve’s 2% target and economic growth remains firm. Learn more in Phil D'Iorio's latest market commentary.

First Quarter 2024 Global Equity and International Review - Cumberland Private Wealth After delivering robust returns in 2023, global equity markets started off 2024 with a bang. Some of the key factors driving the returns included strong corporate earnings, an expectation of interest rate cuts in 2024, and a turn in investor sentiment with investors abandoning their recession calls....

We cannot help but draw on the fairy-tale, Goldilocks analogy of an economy that is neither too hot nor too cold, but just right. Learn more in CIO Peter Jackson's latest commentary.

First Quarter 2024 North American Equity Strategy - Cumberland Private Wealth In our view, the current market advance is a result of the combination of a strengthening economy, growing earnings and the expectation of rate cuts later in 2024. The market’s focus has pivoted away from concerns about rising interest rates, which facilitated the rally during the fourth quarter o...

Here are some crucial conversations to have with aging parents: Power of Attorney, Personal Care Attorney, "Green Sleeve," Trusted Contact Person. Learn more in our latest blog post.

Four Conversations to Have with Aging Parents - Cumberland Private Wealth Many of us avoid discussing financial or health matters with our parents because these conversations can be uncomfortable. However, we believe they are often necessary to protect our parents’ personal and financial well-being. Here are four specific topics that we recommend discussing with aging p...

Here’s a look at some of the key changes that come with inheriting money, and how they can help you realize, protect and enhance your best life.

What changes when you inherit money? - Cumberland Private Wealth With billions of dollars set to transition from Baby Boomers to their children and grandchildren in the coming years, many younger Canadians will grapple with the impact of an inheritance. While the impact will be mostly positive - more money that they can put towards goals such as home ownership an...

For more than a century, March 8th has been a global day honoring the social, economic, cultural, and political achievements of women.
So this year on International Women’s Day, we celebrate one of Cumberland's founding partners, Guida Fernandes, whose career in Canada’s wealth management industry has spanned over 40 years. Her vision and care for our clients, her leadership and commitment to our business through the up and down cycles have made her a respected role model over the decades. Thanks Guida!

After the stellar performance of the Magnificent Seven in 2023, several concerns about market concentration have arisen. Read Portfolio Manager, Phil D`Iorio`s latest insights here.

Should we worry about the narrow breadth and market concentration in the S&P 500? - Cumberland Private Wealth Over the last several years a lot has been written about the increasing power and concentration of Mega Cap stocks in the S&P 500. Media articles on this subject exploded in 2023 as Technology stocks skyrocketed and a new moniker was born when Bank of America analyst Michael Hartnett coined the term...

A Registered Retirement Savings Plan (RRSP) is a great way to accumulate tax-deferred investments. When you turn 71 years of age, it’s time to convert those investments into a source of retirement income. Here’s what you need to know.

Turning 71? It’s time to turn your RRSP into a RRIF - Cumberland Private Wealth A Registered Retirement Savings Plan (RRSP) is a great way to accumulate tax-deferred investments. When you turn 71 years of age, it’s time to convert those investments into a source of retirement income. Here’s what you need to know. Over your working life, an RRSP offers you a tremendous tax a...

Recently, our clients and colleagues were treated to a presentation by Dr. Elaine Chin, a leading expert on preventive healthcare and wellness strategies. Read the top take-aways in our latest blog post

A prescription for a long and healthy life - Cumberland Private Wealth On Tuesday, February 7th, clients and colleagues of Cumberland Private Wealth were treated to a presentation by Dr. Elaine Chin, a leading expert on preventive healthcare and wellness strategies. Despite the health concerns facing many Canadians and the strain on our healthcare system, the doctor ga...

A key advantage of RESPs is being able to compound your investment and earn returns within a tax-sheltered environment. And, like all compounding, the sooner you start the better. Read our latest analysis on different contribution strategies here.

A novel approach to funding your RESP - Cumberland Private Wealth When life moves, your money moves. When you have a child, life starts moving. This article provides an overview of the Registered Education Savings Plan (RESP), an excellent tool to save for a child’s education. It explains the three phases of RESP planning and shares a novel approach to funding y...

As interest rates pivot from rising to falling, inflation tapers off with no recession yet in sight, and corporate earnings go from contraction to expansion, some of the market’s most significant headwinds appear to be turning into powerful tailwinds. Learn more here.

Q4 2023 and Year End Strategy & Market Reviews - Cumberland Private Wealth Each quarter, our Investment Management teams publish their key observations and portfolio updates across Global Equity and Fixed Income markets. This is a summary of our views for the Fourth Quarter of 2023. You can download the full reports via the links shown below. KEY OBSERVATIONS After declini...

While the U.S. and the global economy avoided a recession in 2023, there is a wide range of viewpoints in terms of what will materialize in 2024. As Phil D'Iorio, MBA, CFA writes in his latest commentary, we're feeling optimistic because of the resilience in the world’s largest economy \(USA\), a decline in the rate of inflation around the world, China’s government announcing a series of stimulus measures and a recent signal from the US Federal Reserve that it will be cutting interest rates during 2024.

Year End 2023 Global Equity and International Review - Cumberland Private Wealth After a tumultuous year in 2022, a year in which both stocks and bonds fell by double digits, stocks came roaring back in 2023. There are several factors that drove global equities higher in 2023 including low expectations, the absence of a global recession, and a faster than expected decline in the...

With rate cuts expected to be around the corner, and corporate spreads tightening over the course of 2023, this latest commentary from Owen Morgan suggests 2024 will provide a constructive environment for fixed income investors.

Year End 2023 Fixed Income Strategy Review - Cumberland Private Wealth Well, 2023 was one of the most challenging years for fixed income investors with the converging challenges of combating inflation by governments around the world, regional wars, political instability, global warming and the impact and threat of economic recession all playing a role in determining wh...

The Fed Pivoted as they did not raise rates for a third consecutive meeting, but more importantly, the median projection for the Fed Funds target rate was lowered for 2024 and 2025. What does this mean for the economy and investing opportunities? Learn more in these latest insights from Peter Jackson.

Year End 2023 North American Equity Strategy - Cumberland Private Wealth It seems like everyone in the investment world likes to use sports analogies to describe the current economic cycle and Federal Reserve Chairman Jerome Powell’s actions, which recently happened to be a pivot, generally known in the markets as the “Fed Pivot”. Team Powell has two coequal goals ...

Higher interest rates have boosted returns for short-term investment vehicles. This creates opportunity. But if short-term returns interfere with long-term strategy, that is a real risk. Learn more about how to navigate changing markets in our latest blog post.

Plan your life, manage your wealth - Cumberland Private Wealth Wealth management is the process of utilizing financial assets and human capital to realize, protect and enhance the life you are living and the life you are building towards. Wealth management is, therefore, a deeply personal process. It is also multifaceted, requiring the consistent assessment of....

Congratulations Gerald Connor for sponsoring a new program at George Brown to prepare students with the foundational knowledge they need to start or advance their careers in the wealth management industry.

Cumberland Private Wealth Management Inc. sponsors new program at George Brown College - Cumberland Private Wealth Four years since Gerald Connor, Chairman of Cumberland Partners Ltd. (CPL) made his commitment to the George Brown Business Centre, a new certificate program in operations and client management is launched. This program was developed by industry subject-matter experts to address the growing demands....

At a time when private giving can seem under pressure from both public policy and public perception, Hilary Pearson made a compelling case at our recent Cumberland Foundations Circle meeting for the unique value that grantmaking foundations create in our philanthropic ecosystem. Read more about the event here.

From Charity to Change: a discussion for the ages - Cumberland Private Wealth Canadian foundations and endowments are increasingly called upon to not only provide financial support to charitable causes but to lead broader change on issues that impact our shared environment. This is the thesis that Hilary M. Pearson, author of the book, “From Charity to Change,” presented ...

One of the biggest debates in the market today is whether the U.S. economy is headed for a recession or a soft landing. Here are the latest insights from Global Portfolio Manager, Phil D'Iorio.

A Soft Landing for the U.S. Economy is in the Realm of Possibility - Cumberland Private Wealth One of the biggest debates in the market today is whether the U.S. economy is headed for a recession or a soft landing. Given that the United States is the world’s largest economy, the outcome of this debate matters a lot given the implications it would have for the rest of the world. One of

As the financial landscape evolves, so too must our strategies for preserving our wealth. With the prevalence of digital assets, changing regulations, and shifting family dynamics, more and more people are confronted with the difficult decision of whether or not to establish a trust. Learn more in our latest blog post.

Estate Planning It is common to use a family trust or other trust structures to allow assets to pass to the next generation in a measured way. But is this always the best strategy to pursue? We believe it’s critical to consider all the relationships, and the operational (among other) implications that come with e...

An economic soft landing is still in sight as growth remains positive, earnings improve, and the rate hiking cycle approaches its end. However, risks remain. Here our the latest insights from our team.

Q3 2023 Strategy & Market Reviews - Cumberland Private Wealth Each quarter, our Investment Management teams publish their key observations and portfolio updates across Global Equity and Fixed Income markets. This is a summary of our views for the Third Quarter of 2023. You can download the full reports via the links shown below. KEY OBSERVATIONS Last quarter,....

With inflation flashing warning signals, expectations that the Bank of Canada’s hiking cycle was at an end were diminished, although perhaps not quite extinguished. Learn more about what that could mean for the bond market in Owen Morgan's latest commentary.

Third Quarter 2023 Fixed Income Strategy Review - Cumberland Private Wealth Heading into the third quarter of 2023, the outlook for the economy gave investors a few reasons for a little optimism. Inflation had fallen very consistently for a year and measured 2.8% by the end June, not all that far off from the Bank of Canada’s 2% target. The economy, although slowing (GDP ...

China’s factory output expanded in September for the first time in six months, which is fuelling hope that the world’s second-largest economy is in the process of bottoming out. What does that mean for the global market outlook? Learn more in Phil D'Iorio's latest commentary.

Third Quarter 2023 Global Equity and International Review - Cumberland Private Wealth After a strong first half of the year, global stock markets took a breather during the third quarter. Equity market indexes were down across the board during Q3 with the S&P 500 returning -3.7%, the STOXX Europe 600 index returning -2.5%, and the Nikkei 225 returning -4.0%. Despite the weakness expe...

Peter Jackson explains his cautious optimism as the outlook for inflation is improving, policy rates are likely tight enough and the direction of earnings for the S&P500 is indeed moving higher. Learn more in his latest commentary.

Third Quarter 2023 North American Equity Strategy - Cumberland Private Wealth Last quarter we discussed the likelihood of a soft economic landing given that economic growth was slowing but likely not turning negative, and the earnings outlook was improving in the back half of 2023 and 2024. Since then, a few positive data points on the inflation front have come in over the su...

Last week, we hosted a vibrant discussion on the future of residential and commercial real estate. Who’s buying and where? Where are we headed given high interest rates? Is the office market doomed? Thanks to our panel experts Michael Emory, Chair of Allied REIT, Julie Di Lorenzo, CEO Mirabella Corp. and Morris Kansun, President of Sierra Communities for their unique insights; summary is here.

Three experts on the future of real estate - Cumberland Private Wealth On Wednesday, September 27th, our clients, friends and neighbours from the Yorkville area gathered at Cumberland Private Wealth to hear three leading experts share their diverse viewpoints as investors, developers and visionaries in the Canadian real estate market. Who’s buying and where? Which wa...

A great deal of financial success comes down to executing the basics well. This article discusses the power of RESPs, especially for grandparents.

How grandparents can use RESPs to open doors of opportunity - Cumberland Private Wealth A great deal of financial success comes down to executing the basics well. In this series called Investing Basics, we review some of the fundamental tools that can help you and your family build and protect wealth over time. In this installment: the power of RESPs, especially for grandparents. Many....

Is the commotion around AI similar to the Dot.com boom in the late 1990’s? Read the latest insights from Phil D'Iorio to gain Cumbeland's perspective.

Is the Artificial Intelligence hype creating a bubble in Technology stocks? - Cumberland Private Wealth There has been a lot of excitement about Artificial Intelligence (AI) recently and this is being reflected in the Technology sector, which has led the stock market thus far in 2023. AI is a transformative technology for consumers and enterprises, and one that will create new opportunities that will....