Shopping for GICs? Get a specialist.

The Federation Of Canadian Independent Deposit Brokers

Shopping for GICs? Get a specialist.

With more financial products and salespeople than ever before, it can be difficult to know where to turn to for GICs and other guaranteed investments. Why not choose a specialist who offers it all and charges no fees?

A deposit broker is an independent financial professional who specializes in guaranteed investment products such as GICs, term deposits, RRSPs, RRIFs and LIFs. It isn’t easy to find this degree of specialization from a stockbroker, fund salesperson or financial advisor – individuals who are inclined to focus on investments that carry higher risk and require sophisticated investor market knowledge.

Here’s what a deposit broker offers:

Top rates. Deposit brokers monitor interest rates and available products on a daily basis to help you get the best possible returns from a wide range of deposit instruments. Because product availability, demand, and volumes vary daily with each financial institution, new opportunities for better rates are constantly being created. Typically, a deposit broker can find you rates that are up to 1% better than the retail bank-postedrates. That can earn you hundreds of dollars more – without the slightest increase in risk.
Convenience. A deposit broker saves you time and effort, serving as a one-stop shopping centre for all your guaranteed investment needs. While stockbrokers often prefer to sell bonds from their company’s inventory, a deposit broker always has access to the terms and payment options that suit your needs. Your deposit broker will get you the right registration (jointly with your spouse, for example) and guide you on insurance limits. They are often qualified to handle many of your other financial needs such as insurance or mutual funds, as well.
No cost to you. With GICs and other guaranteed investments you pay no fees or commissions to deposit brokers. This ensures you receive unbiased advice and recommendations, and that your best interests always come first. Deposit brokers can give you the best rates, for free, because they have access to the large-volume selections available through the vast network of financial institutions. The institutions pay them a finder’s fee, which means you don’t have to.

And there’s more. All of the deposit institutions represented by the broker are members of CDIC, Assuris or a provincial deposit insurance organization, so you also enjoy the peace of mind that comes with knowing your money can be protected, within their insurance limits. With deposit brokers who are registered members of the Federation of Canadian Independent Deposit Brokers (FCIDB), you can take extra comfort knowing that they are committed to the highest standards of service and subscribe to a code of ethics.