From the first steps of becoming a homeowner to the complete planning of your retirement needs, we have a wide range of products and advice that can tailored to your specific needs and objectives from the world leading life insurance companies.

Generally, there are two different type of funds that can be used in various investment products. Leveraged investing involves greater risk than investing your own money. Please contact us for a personal review, to determine whether leveraged investing is suitable for you.

Segregated funds

Segregated funds are a deferred annuity contract between an insurance company and a policy owner. The policy owner makes deposits through the contract and the insurance company invests the money in Segregated Funds. Segregated Funds are an asset of the insurance company and are similar, in essence, to money held in trust for the investor. The segregated nature protects the investor against the insolvency of the insurance company. Mutual Funds, are owned by the investor and are managed by the investment management company. The securities in the funds (owned by the investor’s pooled resources) are maintained in safekeeping by the custodian of the fund. While each company is a little different, they are essentially either 100% or 75% of the deposits less any withdrawals. However, there are some very significant differences on how they are applied. Many are deposit based which means that if a deposit every year they end up with a series ten, 10 year guarantees.

Mutual Funds

An investment vehicle that is made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets. Mutual funds are operated by money managers, who invest the fund’s capital and attempt to produce capital gains and income for the fund’s investors. A mutual fund’s portfolio is structured and maintained to match the investment objectives stated in its prospectus.

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Investment products

Tax-free savings account (TFSA)

Since 2009, a tax-free savings account (TFSA) is a way for individuals who are 18 years or older and who have a valid Canadian social insurance number to set money aside tax-free throughout their lifetime. Contributions to a TFSA are not deductible for income tax purposes. Any amount contributed as well as any income earned in the account (for example, investment income and capital gains) is generally tax-free, even when it is withdrawn.

Registered retirement income fund (RRIF)

A RRIF is a fund you establish with a carrier and that we register. You transfer property to the carrier from an RRSP, RPP, or from another RRIF, and the carrier makes payments to you. Establishing a RRIF can be done at anytime, but must be done no later than the year the annuitant turns 71. Once a RRIF is established, there can be no more contributions made to the plan nor can the plan be terminated except through death.

Life income fund (LIF)

When you retire, or at the latest when you reach the age of 71, you may transfer assets from your LRSP, LIRA, GRSP (locked-in) or employer-sponsored pension plan to a LIF or LRIF, depending on the applicable provincial pension legislation.

Registered retirement savings plan (RRSP)

An RRSP is a retirement savings plan that you establish, that we register, and to which you or your spouse or common-law partner contribute. Deductible RRSP contributions can be used to reduce your tax. Any income you earn in the RRSP is usually exempt from tax as long as the funds remain in the plan; you generally have to pay tax when you receive payments from the plan.

Locked-in retirement account (LIRA)

If you are in a registered pension plan with your employer and leave that company, your pension will be transferred into a Locked-In Retirement Account (LIRA). Locked-In Retirement Accounts are sometimes referred to as the more appropriate name of Locked-In Retirement Savings Plans (LRSP).

Registered educational savings plan

Registered educational savings plan is a contract between an individual(the subscriber) and a person or organization (the promoter).Under the contract, the subscriber names one or more beneficiaries and agrees to make contributions for them, and the promoter agrees to pay educational assistance payments (EAPs) to the beneficiaries.
Insurance products and financial planning services are offered through Cloran Financial Planning. Manulife Securities Disclaimers Mutual Funds are offered through Manulife Securities Investment Services Inc. Banking products are available through referral