Author: kiara

This year, we asked the amazing women at Rothenberg to reflect on the women who inspire them as a way to celebrate International Women’s Day, March 8th.

The result is a list of incredible female role models from different backgrounds, professions, and life experiences who have dismantled stereotypes, broken through the glass ceiling and paved the way for future generations of women to enjoy a brighter future.

At the end of the list, we have a special tribute to a woman who has been involved, and to some degree, responsible for the growth and incredible success of our firm over the past few decades. Keep reading to discover who she is!

Without further ado, here are our picks:

Oprah Winfrey

I often watched her shows when she had people on that she helped achieve their dreams when these women thought they had no life. Oprah came from a very poor background. She was mistreated as a child, yet this courageous soul never gave up on her dreams of someday helping others. She gave others the courage to never give up and not let others put you down. With all that this lady went through in her life, it made her stronger to push forward and survive and do good for others!

– Susan Pilon, Westmount Office Administrator

Jacinda Ardern – Former Prime Minister of New Zealand (2017-2023)

She has shown that a leader can be strong, decisive, and compassionate at the same time. Her approach to governance has been people-centered, putting the needs of citizens at the forefront of her policies. Her leadership style has shown me that empathy and kindness can be powerful tools in any profession, including finance, and that we can make a positive impact on people’s lives while still being successful in our careers.

– Mylene Jeremie, Wealth Management Advisor

Jodie Comer – Actress

She is an incredibly talented actress who allows her talent to speak for itself. She is witty and authentic and is thriving in a male-dominated industry whilst being true to herself. She exuberates kindness and self-assuredness that inspires me whenever I see her pop up!

– Claire Churchill-Smith, Wealth Management Associate

Lee Jieun – IU – South Korean Idol and Actress

She persisted through poverty and setbacks to pursue a career in entertainment, attending numerous auditions and facing scams before debuting at just 15 years old. Despite facing insults, she became a successful artist who paid off her parents’ debts and donated $4.3 billion to charity. She is now known as “The Nation’s Little Sister.”

I am inspired by Lee as even though she has faced a lot of difficulties in her life, she did not give up. After being successful, she remained humble and kind. Working hard, no giving up attitude and being down to earth is the key to success.

– Tanuja Neenooth, Client Services Representative

Ruth Bader Ginsberg – Former U.S. Supreme Court Justice (1993-2020)

She faced multiple levels of discrimination because of her Jewish heritage, her gender, and her obligations as a mother but she broke the glass ceiling for women in so many ways despite enormous odds. I vividly remember watching the RGB documentary on Netflix and feeling so inspired by her courage, perseverance, and passion for championing gender equality, advancing equity and making the world a better and more equal place for all.

– Kiara Bernard, Marketing Manager

Malala Yousafzai – Pakistani Education Activist

Malala is amazing! She is strong and brave; she stands for what she believes in even when she faced life-threatening opposition from the Taliban and was attacked. Her focus is not only on Pakistan; she is fighting for gender equality and education rights worldwide.

– Christine Yu, Marketing Associate & Banking Administrator

Mel Robbins – American Podcast host, best-selling author, motivational speaker, and former lawyer

She is a great example of how to turn your struggles into success and become your best self every day. Her own struggle with overcoming self-doubt and anxiety shows that anyone can achieve success with the right mindset and habits. She is sincere, unfiltered, and direct. Her podcast is among my top 3 favorites to listen to!

– Antonella Perrotta, Senior Human Resources Manager

Michelle Obama

She uses her powerful platform and voice to empower and express her values as a leader, through her messages of strength, support, and empathy. Her leadership and grace continue to inspire me to lead with purpose in all areas of life.

– Silvana Rizzo, Wealth Management Advisor

Mother Teresa

I am inspired by Mother Teresa’s deep empathy for others, she expressed love and compassion through her actions and words. She fosters equality for all human beings and she continued to push forward with her mission to help others no matter what obstacle she faced. Her deep sense of purpose and responsibility to create a positive change. Her simplicity, emotionally healthy & healed personality.

– Tina Patel, GIC Department Coordinator at Rothenberg & Rothenberg Annuities Ltd.

Who: Helen Corrigan, Former President of The Rothenberg Group of Companies (1988-2020)

Why she inspires me: The woman who has inspired me is our previous President here at the Rothenberg Group of Companies: Helen Corrigan. Helen was President from early in the 1990s, when women were not presidents of independent firms. She paved the way for women like me to be able to hold executive positions and be great leaders. By watching her over the last 20 years before her retirement, I learned how to be strong, resilient, and compassionate; all qualities of a great leader.

– Maria Ioannou, President & CFO of The Rothenberg Group of Companies

This article was originally published on Banking CIO Outlook.

Navigating the complex world of financial investments can be a tricky prospect. The choice to take a do-it-yourself approach may not be feasible, as the right decisions usually depend on specialized knowledge about financial variables, hidden costs, and suitable investment strategies. As a result, finding one’s way around wealth management demands a great deal of information and guidance. This is where the wealth management experts at Rothenberg Wealth Management take center stage.

Rothenberg Wealth Management is an independent and employee-owned wealth advisory firm that offers custom portfolio recommendations and retirement and estate planning solutions with full transparency to clients at all stages of their lives. What began in 1979 as a family office focusing on life insurance products is today a network of elite wealth management advisors servicing $1 billion in assets for over 3000 Canadian individuals, families, and businesses. Rothenberg Wealth Management has sought-after expertise in investments, portfolio management, wealth accumulation, retirement planning, tax planning, estate and legacy planning, and wealth transfer. “We firmly believe in providing quality services, solutions, and insights while nurturing a small neighborly, family-like feeling with clients,” says Robert Rothenberg, CEO of Rothenberg Wealth Management.

Building on the simple idea of putting the client first and above all else, Rothenberg Wealth Management has made it a top priority to create a culture where clients feel recognized, heard, and valued. While robo advisor solutions have become more and more common, they are often inadequate when it comes to addressing unique client needs. With that in mind, the company has shifted focus even more towards face-to-face conversations and personalized service. The benefits are easy to see with their long-term clientele. In one instance, the company has been working with a family of clients, assisting them in implementing and managing their financial strategies across four generations. With Rothenberg Wealth Management’s advice, guidance, and support, the family was able to achieve the total peace of mind and financial security that they were looking for.

Parallel to its focus on maintaining long-term client relationships, Rothenberg Wealth Management also focuses on strengthening its core capabilities. The company keeps a close eye on up-and-coming technologies and solutions that can be of interest to their clients. Being an independent company, Rothenberg Wealth Management collaborates with the best market players, including exchange-traded fund providers, mutual fund managers, and FinTech providers, offering its clients privileged access to comprehensive financial solutions. The company also has access to individual stocks, bonds, and a wide variety of alternative investment products to help smooth returns for clients even when the markets become volatile. This commitment to client success has helped the company secure its position as one of the most reputed wealth management firms in Canada.

The experienced wealth management advisors and portfolio managers at Rothenberg Wealth Management deserve the credit for driving such a powerful vehicle. They fully understand each client’s needs, priorities, and objectives and develop and implement the best-suited investment strategies accordingly. The process begins with a meeting between the client and a Rothenberg wealth management advisor to discuss financial concerns and wealth objectives. Following this initial conversation, the advisor develops and shares a thorough financial assessment with the client, which includes an overview of their financial situation, income needs, taxes, insurance, and estate requirements. The expert then helps the client in establishing an asset allocation plan within various investments, which undergoes regular monitoring to ensure everything is headed down the right path. Rothenberg Wealth Management also offers access to fiscal specialists to help clients who are looking for assistance with matters such as incorporation or drafting their wills.

Rothenberg Wealth Management has developed an unmatched reputation for both its strong ethos of client-care and high-quality services. It’s approach to managing, growing and protecting wealth differs considerably from other market players as it looks at everything from the client’s current assets, expected income needs, and other factors, to effectively calculate the asset allocation that offers the greatest chance at securing a successful financial future. Even if a client doesn’t have all their assets under the company’s wing, it will offer valuable insights on all the assets that the client holds. It is Rothenberg Wealth Management’s experience that strengthens its place as a leading wealth management service and solutions provider in the Canadian market.

Learn the signs to look out for in email phishing scams so you can safeguard your confidential financial and personal information.

Phishing emails are a regular tactic used by cyber criminals to steal your personal information, such as your online banking login credentials.

Some red flags are easy to spot and will quickly alert you to the fact that you are the victim of a phishing attempt. In other cases, phishing is harder to discern.

As cyber criminals become more and more creative in their attempts to steal users’ personal information via email, awareness and understanding what to watch out for become the best defense against cybercriminals and their schemes.

But first, what is Email Phishing?

In this form of online scam, cyber criminals impersonate someone you know or a legitimate organization, like the CRA or your banking institution.

Typically, phishing emails contain an urgent call to action and link that, once clicked, will direct you to a website to confirm your personal data, account information, etc. These links which lead to fake websites are designed to steal your personal information or infect your device with malware.

Phishing emails can also contain unexpected or suspicious email attachments, that when downloaded, may cause your computer to become infected with a virus, which compromises the security of your computer.

How do I know an email is a phishing scam?

Many phishing email attempts end up in your spam folder, but spam filters aren’t enough to keep out phishing scams from your inbox.

Some telltale signs of email phishing include:

• Unknown sender or email recipients that you don’t recognize
• Misspelled or incorrect sender name and/or email address
• Mismatched sender name and email address (e.g. – The email comes from “Microsoft” but the sender’s email address uses a Google domain like example@gmail.com)
• Generalized or missing salutation (e.g. – “Dear Canadian Taxpayer”)
• Typos and other spelling and grammatical errors in the subject and body of the email
• The tone is not consistent with that of the sender
• The language used is urgent or menacing and there is an impending deadline mentioned (e.g. – “this attachment will expire in 24 hours,” “you have an unpaid invoice,” you need to “verify” personal information”)
• Strange, unusual, or unsolicited request or the content just doesn’t make sense and asserts something ridiculous
• You did not subscribe or consent to receiving the email communication from the sender
• Odd layout and bad quality images
• The link in the email doesn’t match the URL when you hover on it with your mouse
• The included attachment has a strange name or file extension
• The email went directly to your junk or spam folder

It’s important to note that the above isn’t an exhaustive list of all the warning signs of phishing emails. Phishing emails can be so sophisticated that only contain one or a few signs listed above.

Be proactive, not reactive!

Cybercriminals are always looking to innovative and more sophisticated ways of impersonation and duping unsuspecting victims to give up their financial information.

When you’re evaluating whether an email is a phishing attempt, some questions you can ask yourself include:

• Do I recognize the sender’s name and “From” email address?
• Does the email’s subject line or body include typos or grammar mistakes?
• Does the sender’s email address match the name in the “From” field?
• Do I recognize the recipients included on this email?
• Does the email have a call-to-action such as clicking a link or downloading an attachment?
• Is the email asking me for personal information, such as my SIN number or bank account login?
• Did I sign up to receive this communication from this sender?
• Is the layout or image quality odd?

As a general rule of thumb, be suspicious of all links and attachments and think first before clicking.

If you ever get a suspicious email from someone claiming to be a reputable company, friend, or acquaintance, it’s always best to contact the organization or individual in question immediately to confirm whether the email is legitimate before proceeding.

One thing to keep in mind is that just because you receive a phishing email doesn’t mean your personal information has been compromised. Email phishing scams are only successful when their targets click on malicious links or download harmful attachments.

Rothenberg Capital Management will never ask you to provide confidential or sensitive information through regular e-mail. If you receive an email from us requesting that you provide information such as your account numbers, PIN, or password, please do not respond and notify us by sending an email to: inforequest@rothenberg.ca.

Between tuition and other-related expenses, post-secondary education, especially during these times of high inflation, can be a significant financial burden on families with multiple children. What are some smart strategies to manage these costs? Our experts suggest some options.

The rising expense of post-secondary education, at a time when inflation is skyrocketing and other areas of life are becoming more expensive, may prompt you to worry about how you will be able to provide this opportunity for your children. The cost of tuition, coupled with other university-related expenses like textbooks, electronics, and living accommodations can be a significant financial burden on families, especially those with multiple children.

You may deem the costs of your child’s post-secondary education as necessary, but also consider them to be quite expensive. The good news is that you don’t have to foot the bill all at once and there are a few things you can do as parent to manage and ultimately reduce these expenses when you have several children. There are even a few things you can encourage your child to do as they pursue their university education in order to manage their school-related expenses.

1. Consider opening a family RESP plan.

Many families opt to open one RESP account per child but managing multiple accounts can be difficult. That’s why a family RESP is a great option for families with multiple children. While you may be investing in a single account, RESP contributions are tied to your child’s SIN, so your financial institution knows which child receives the contribution. In turn, investment earnings can be shared among your children. You also have the flexibility to allocate funds to other qualifying beneficiaries if one beneficiary does not pursue higher education or if education costs differ among them.

2. Take advantage of the Canada Education Savings Grant (CESG).

The CESG program, which is available to everyone, provides an excellent incentive for families to begin saving for their child’s education as soon as they can. This RESP grant matches 20% of the first $2,500 contributed each year to a RESP of an eligible child under 18 up to a yearly maximum of $500 and a lifetime maximum of $7,200. If you contribute annually from when your child is born, the grant will max out in 14 years. Quebec residents can receive an added incentive in the form of an additional 10% grant called the Quebec Education Savings Incentive (QESI). While many believe the age-old adage “There’s no such thing as free money,” the Canadian government is essentially giving you “free money” to put towards your child’s education. You can find out more about the CESG grant here and the QESI here.

3. Co-sign your child’s student line of credit application.

A student line of credit is a flexible financing option for students that helps them pay for post-secondary education expenses such as tuition or books and can also be used to fund day-to-day expenses such as food and transportation. Much like a credit card, the money borrowed must be repaid with interest. However, a student line of credit tends to have more favorable interest rates than your standard credit card and the interest charged is only on the money borrowed. Oftentimes, a financial institution will require a co-signer who will be responsible for the debt should the student be unable to pay. This is where you as the parent can step in. Co-signing your child’s student line of credit may be a good way to help them establish credit, for instance. You can find more information about student lines of credit on the Government of Canada website here.

4. Explore additional ways to pay for your child’s post-secondary education.

Savings plans like a RESP may not be enough to cover the costs of your child’s university education so you may consider financial assistance. Financial assistance can be anything from the CESG mentioned above to student loans to scholarships, grants, and bursaries, which provide tuition assistance that does not need to be repaid. One misconception is that you need to be low income to benefit from any of these options, but that is simply not the case. Scholarships, for example, can reward academic achievement regardless of income level.

5. Give your children a primer on good money habits.

Along with the above strategies, financial education and being money-savvy goes a long way in helping to manage any large expenses like post-secondary education. You may have instilled good money habits in your children as they grew up, but it’s never a bad idea to go over the bases as a reminder. While tuition costs tend to be foreseeable, many other university-related expenses are variable costs and there are usually ways to reduce those costs. For example, for food, you may encourage your child to take a college meal plan or cook at home rather than order out as ordering out can be quite expensive. Of course, there are many other ways to reduce costs and save money that you should educate your children about, such as keeping an eye out for student discounts, avoiding out-of-network ATMs, and using a credit card in the most efficient manner. These money habits can add up over time and can make a noticeable difference.

Advisors like us help clients all the time work towards their financial goals and over the years, we’ve helped countless families with choosing the right investments to build savings for their children’s education. For more information on how we can help, email us at inforequest@rothenberg.ca.

With inflation at a nearly 40-year high, you might be worried about what it means for you retirement. In this article, we go over some things you can expect, whether you’re in the process of planning for retirement or are already retired.

You may have noticed a spike in certain expenses recently, such as your groceries, rent and gas bills and you may be wondering why this is happening. The reason is inflation. Inflation occurs when there is a broad increase in the prices of goods and services. But inflation doesn’t only impact your spending habits. It also affects your ability to save for big life goals like retirement and enjoy your golden years as you should.

I’m saving for retirement. How does inflation impact me?

As your expenses go up with inflation, your financial priorities will most likely shift, and saving for retirement may move down the list. You may even find it difficult to put aside funds on a regular basis since you first must pay for things like food and gas. In extreme situations, you might even have to dip into your savings to compensate for overspending. When your income remains the same, but the cost of living keeps going up this is certainly a possibility.

Your first instinct may be to reduce or cut back entirely on otherwise regular contributions to your retirement accounts until things subside and prices return to something-like-normal. However, you should avoid giving in to this urge. Even if you’re only considering reducing or ceasing your contributions for a short period of time, this can have drastic effects on your nest egg.

Compound interest earned on the funds you save and invest for your retirement on a consistent basis will help your savings increase more quickly over time. Imagine the size of a snowball increasing as it tumbles down a slope and gains momentum. Compound interest works in a similar way.

By continuing to make regular contributions to your retirement accounts, you ensure that you enjoy the full power of compound interest. On the other hand, when you reduce or stop your contributions to your retirement savings, this could result in thousands of dollars less in retirement savings over the long term.

Consider the following example. Let’s say Bob starts with $2,000 in his RRSP and invests an additional $2,000 per year towards his retirement for the next 30 years. We’ll assume a 7 percent return every year to keep things simple. Bob’s RRSP would be worth $202,146. Now if Bob decides to stop contributing to his RRSP in year six and seven due to inflation, he will end up with $181,146 in total savings, which creates a $21,000 difference by the end of year 30.

While we do not recommend reducing your spending on necessities such as food, if you fear you may have to lower the amount or frequency of your contributions, you can free up some funds by eliminating non-essential expenses, such as dining out or subscription services.

Budget cutbacks can only go so far in any event, so you should definitely have a conversation about this matter with your wealth management advisor. Your advisor will be able to guide you through the process of adjusting your retirement planning strategy and investment portfolio in a way that has the least amount of impact on the quality of your life at the current moment and the best possible outcome for your retirement.

I’m already retired. What does inflation mean for me?

With so much time and effort involved in planning and saving for your retirement, as a retiree, you are certainly wondering if you’ve saved enough, how long your money will last and if you will need to adjust some of your highly anticipated plans as inflation rises. The answer depends on a few factors. Among them, your cash flow, your expenses and how willing you are to compromise on things if need be.

Since you are no longer working as a retiree, your income tends to be more predictable, and your expenses tend to become more stable as well. Your personal savings and your investment portfolio are most likely your main source of cash flow during this period in your life. You may also rely on government pensions, such as CPP, Old Age Security (OAS), and GIS for retirement income.

While your personal savings and ongoing investments will likely be the most affected by rising inflation, as your purchasing power decreases and the markets respond, the federal retirement benefits you’re receiving will see less of a negative impact.

Government-funded programs like CPP, OAS and GIS are indexed for inflation, which means that they are adjusted to keep pace with inflation, although using different formulas. So, you will likely receive an increase in the payout amounts as the government tries to account for the rapidly rising cost of living.

However, it remains important to note that if the rate of inflation outpaces the adjustment rate, it will not entirely offset inflation. So, you may find, after you spend on your basic expenses, like rent, utilities and groceries, that you have less left over for the really exciting activities on your bucket list. It then becomes a balancing act between carrying on as planned with your retirement and making concessions, especially when your expenses exceed your income. This can be the case if you have goals or hobbies you’re determined to hang on to.

If you’re healthy, travelling is probably one of the top items on your retirement bucket list. You’ve most likely saved up for this lofty goal as it can be costly. Unfortunately, when inflation is up, it can be more expensive to travel than you anticipated.

But there are also some silver linings to inflation, such as interest rates rising. You’ll find that rates for annuities like GICs, as an example, should go up during periods of inflation.

Another advantage is in real estate. For those who still own their home and are looking for the best time to sell it, during periods of inflation, real estate prices tend to go up. What this means is that it might actually be the best time to sell your home when inflation rising.

Of course, like any situation, there are both positives and negatives and these must be weighed against each other. If you are to draw any conclusions, the bottom line is this: If your expenses exceed your income, which is entirely possible, as the cost of living rises with inflation, you may be forced to choose between delaying your retirement or moving forward as planned but making some concessions.

If you are just transitioning into retirement, you may decide to work longer to generate more income to do the things you initially planned and cope with rising expenses. If you are in retirement and do not plan on returning to the workforce, you may opt for lower-cost alternatives to everyday products to offset inflation costs.

It’s understandable to be concerned about how inflation will affect your freedom and flexibility during retirement. The strategies to mitigate the effects of inflation on your retirement savings and plans will differ from person-to-person depending on your unique situation. It’s always best to touch base with your wealth management advisor if you feel even slightly concerned about how inflation will impact your retirement.

While this article been carefully checked, we cannot and do not guarantee that the information provided is correct, accurate or current. Please speak to your Rothenberg Wealth Management advisor for advice based on your unique circumstances. Rothenberg Capital Management is a member of IIROC and the Canadian Investor Protection Fund.