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Misconception - Locking In Losses

by Todd McLay

May 21, 2020

"𝙄 𝙬𝙖𝙣𝙩 𝙩𝙤 𝙬𝙖𝙞𝙩 𝙪𝙣𝙩𝙞𝙡 𝙩𝙝𝙚 𝙢𝙖𝙧𝙠𝙚𝙩 𝙧𝙚𝙘𝙤𝙫𝙚𝙧𝙨 𝙗𝙚𝙛𝙤𝙧𝙚 𝙘𝙝𝙖𝙣𝙜𝙞𝙣𝙜 𝙞𝙣𝙫𝙚𝙨𝙩𝙢𝙚𝙣𝙩 𝙖𝙙𝙫𝙞𝙨𝙤𝙧𝙨."

Something we have heard a lot recently from new investors joining us at Precedence Capital.

However, once these new prospective clients understand the process of transferring their assets over to our custody, they realize that there is no opportunity forfeited regardless of the timing.

But not all advisors appreciate the true risk involved in locking in losses during the transfer process.  

Perhaps they feel it is not their "responsibility" because they themselves should not be accountable for the previous investments selected.  

Well...we see it quite differently.

In this quick video, we explain the process that an advisor should take when transferring new client investment assets over initially.

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Todd McLay is currently licensed in: British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. Todd Bergstresser is currently licensed in Saskatchewan, Alberta British Comlumbia.  Mike McKague is currently licensed in Saskatchewan.

GSI advisors are currently licensed to sell equity securities, bonds, mutual funds, GICs and other securities that are subject to available regulatory exemptions. Your advisor may also offer insurance-related products and/or financial planning services. These services are not offered through Gravitas Securities Inc., however, your advisor is duly registered to provide these services under applicable insurance legislation and the dealer approves such activity to be conducted outside of the dealer.

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