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Inaction can be a strategy – Or it can represent a lost opportunity

You’ve undoubtedly heard the old saying, “A watched pot never boils.” Similarly, many caution portfolios under constant scrutiny and adjustment don’t perform well. There is at least a grain of truth to that, sometimes because those who constantly toy with their portfolios may be chasing performance and frequent trading can add significant costs. But the flip side of this isn’t good, either.

Neglecting your portfolio can be just as dangerous to your wealth. Financial strategies are not meant to last forever. Rather, they can – and should – be changed as your goals and market conditions shift. A wise strategy for 2006 and 2007 may not be very useful in this post-recession market.

Isn’t it time you got a second opinion about your wealth?

In these extraordinary times there has never been a more important time to sit down with a true financial professional to review and assess your financial affairs and get that vital second opinion.

Consider the following

Canadians are being urged not to panic, but these same commentators debate the growing fears of worldwide inflation or deflation. Events of the last year sent shock waves around the globe causing stock markets to plummet and throwing the financial world into turmoil causing investors to wonder how they can protect their savings.

Look at this extraordinary string of events that happened worldwide in just one month last year:

• U.S. government’s seizure of Fannie Mae and Freddie Mac;
• Rescue of AIG, one of the largest insurers in the world;
• Vanishing of billions of dollars of stock market wealth in a day. The TSX down over 25% in October alone;
• Implosion of some of the world’s most storied investment banks;
• First money market fund loss in the United States in more than a decade;
• Series of U.S. bank fire sales;
• Federal bailout plans announced costing trillions of dollars;

All to avert a global financial crisis! Many Canadians are being forced to reconsider retirement and others are coming face to face with the realization they might have to work well past their normal retirement age. What does all this mean to you?

If you are:

• Disappointed by the inaction of your financial advisor over the past two years;
• Worried about the safety of your savings;
• Wondering whether your investments and pensions are invested appropriately based on current conditions; or
• If you feel like your own personal finances are in a meltdown of their own…

It’s probably time you got a professional second opinion. You have nothing to lose, but quite possibly much to gain.

A second opinion can give you the piece of mind to know you’re doing everything possible to protect your assets you’ve worked so hard to acquire and that you’re making those decisions in partnership with a professional.

If you or someone you know would like to take advantage of our free, no obligation, confidential consultation to review your financial affairs, just call me at (250) 405-2429 or e-mail april.dorey@raymondjames.ca

Sincerely yours,

April M. Dorey, B.Comm, FMA, FCSI
T: 250.405.2429 or 1.877.405.2400
april.dorey@raymondjames.ca
www.aprildorey.com

*Please note, changes in tax laws may occur at any time and could have a substantial impact upon each person’s situation. You should discuss any tax or legal matters with the appropriate professional. Written by April Dorey and expresses the opinions of the author and not necessarily those of Raymond James Ltd. Statistics and factual data and other information in this newsletter are from sources RJL believes to be reliable but their accuracy cannot be guaranteed. Securities-related products and services are offered through Raymond James Ltd., member CIPF. Financial planning and insurance products and services are offered through Raymond James Financial Planning Ltd., which is not a member CIPF.

© April Dorey. Articles, statistics and other data referred to or cited are intended to provide readers with potentially useful information for their own personal use. *Please note, changes in tax laws may occur at any time and could have a substantial impact upon each person’s situation. You should discuss any tax or legal matters with the appropriate professional. Reproduction without permission is permitted with due acknowledgement. The views expressed are those of the author, April M. Dorey, and not necessarily those of Raymond James Ltd. It is provided as a general source of information only and should not be considered to be personal investment advice or a solicitation to buy or sell securities. Investors considering any investment should consult with their Investment Advisor to ensure that it is suitable for the investor’s circumstances and risk tolerance before making any investment decision. The information contained in this article was obtained from sources believed to be reliable, however, we cannot represent that it is accurate or complete. Raymond James Ltd. is a member of the Canadian Investor Protection Fund.

For more information please contact:

April Dorey, B.Comm, FMA, FCSI
Financial Advisor
Raymond James
10th Floor, 1175 Douglas Street
Victoria, BC.
Tel. 250-405-2429
www.aprildorey.com

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