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Protecting your retirement savings

The pension industry coined the word #decumulation to describe the process by which retirees access the savings in defined contribution pension plans as well as RRSP’s or #Group RRSP’s. Switching from accumulating savings to actually spending (or decumulating) the hard-earned funds can be emotional for some, even scary. A big reason is that you are usually on your own with the decision of what to do. Many employers provide coaching up to the point that you leave the firm; then you become more of a do-it-yourselfer.

In SEAMARK Asset Management's experience, most people in this situation have their investment accounts at a bank or insurance company and it seems natural to remain there. Unfortunately, it can also be very expensive. The fee you were charged prior to retirement may be much higher now.

Equally important, the funds in which you have been invested my no longer be appropriate for your unique circumstances anymore. To get comfortable you may seek the help of a financial advisor/planner. This too adds cost.

At SEAMARK, we have tackled the problem of providing professional investment management at a fair price. The potential client simply goes to our website, signs up, and completes a questionnaire which provides enough information for us to recommend a properly risk-adjusted portfolio for your needs. You can accept the suggested fund mix on-line, or talk to a portfolio manager directly. Once you are set up, the annual fee is just 7 basis points per month (0.84% per annum)*. You receive monthly statements, complete with performance results, and participate in the same investment funds used by our institutional clients.

While it is clear that we would like you to try our service, it is important to point out that a Portfolio Manager is the highest trained and qualified professional in the pension investment arena. The SEAMARK Portfolio Manager has a fiduciary duty to you to manage your portfolio in your best interest. This new online service is unique in that it enables everyone to have a portfolio manager help them, a service which historically was available only to rich individuals.

*Investment Counsel fees are subject to HST, which is a deductible expense for non-registered monies.

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