Introduction

Good morning, afternoon, and evening.

Welcome to the first post on what will be a comfortable, informative, and professional editorial on the Canadian financial system. It is written as a collaborative effort from financial advice specialists from major Canadian Financial Institutions. It is our collective intention to create a simplistic, easily digestible guide to banking, investing, borrowing, and financial planning for Canadian readers.

It's worth exploring where this idea was born, and why we felt it was necessary to create. As advisors in major financial institutions during these difficult times, we have generally noticed that Canadians are coming to terms with what can only be called a "past impassiveness" toward their own finances. Where they had previously ignored or had never inquired on how their portfolios worked, the public is taking notice, paying attention, and beginning to educate itself on their investments, their credit devices, even their daily banking accounts. They are taking charge in a general trend towards self-directed investing, and more personalized control over personal finances has begun to emerge in the Canadian market; a fast awakening sparked by the declaration of Recession.

It must be noted, however, that the federal declaration of Recession was not as much the cause of this rapid awakening, but moreso a solidification of economic and financial fears. In my own experience, this awakening slowly began over the summer and autumn of 2008, when the "Credit Crisis" in the United States began to manifest itself publicly, and major American financial institutions began to show weakness. The prospect of having one's own bank fall out from underneath them encouraged Canadians to re-familiarize themselves not only with the operation of the Canadian financial system, but the operation of their own financial products and services.

With an increased traffic flow to branch-level offices, we began to notice trends in questioning from our clients. "How does this work?" "How safe am I?" "How can I make this do better?" "How can I save?" "I heard that..."

All of these quotes, preceding questions about investments, daily banking, credit, and other technical concerns, were and still are very common. "How can I save money on my mortgage?" "How does this savings account work?" "How can I make my investments perform better?" "How safe is this investment?"

In your questions, this concept was born. Take our experience, our coaching, our advice, and deliver it to a mass audience. This is our primary mission statement. We will be objective, technical, simply-spoken, and encouraging. Will we give you financial advice? Generally, yes. We say "generally" because there is no catch-all maxim for investing, saving, and planning. The right financial plan is different for each person. However, what we will recommend are financial solutions for situations that are common across the Canadian public. We will not give you detailed financial advice, but rather will seek to educate you and encourage you to visit your bank with more information under your belt than you may have otherwise.

Those people in the offices at your local branch are there for a reason; they are paid to advise you in the best manner possible. They aren't paid on commission, they make no extra money from your investments or your mortgage. Use our experience and theirs to your benefit, and make the most out of your time with them.

We encourage comments, recommendations, and constructive criticisms. You expect us to be professional- we request the same.

Check back often! We're hoping for frequent updates as time allows. Here begins your financial education!

Read this blog and be informed. It is your right as borrowers, savers, spenders, and investors to know how to be financially secure, and duly educated.