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HermanH said

savemoresaveoften said
But the time it reaches 7-8%, you will say too low and need 10%,

That might be a reasonable expectation, if the rate continued to increase steadily and dramatically with no plateau in sight.  

Poor investment decision are usually the result of ‘moving’ target, be it stock price or rates or anything. ‘Moving’ target demonstrates either greed, or simply don’t know what is going on. It’s like the guy who always say he misses buying at all cuz he thinks it’s moving lower…

Two questions:

1) Do these GIC brokers ever answer their phones?

2) Do these GIC brokers ever call back?

I have enjoyed my experience with Rotenberg, thus far. I even accidentally woke him in the middle of the night, while trying to leave a message. As good a response rate/time as Hubert.

If it's not a problem, what is Kevin Rotenberg's telephone/email?

HermanH said
1-866-228-9442 ext 373
kevin@gicwealth.ca

Tell him I sent you.   

Thanks.

If Kevin asks who gave the reference, I'll simply say an "Internet Friend".

I considered Monarch, but they seemed to lag behind GIC Wealth. For example, both had a 5-yr 5.25%, but Monarch no longer has it. I wonder if they can 'match', the Wealth offer.

Edit: I just called Monarch. They will try to match 5-yr 5.25% via EquityCU, but no guarantees. Also, only HomeTrust and Equity will allow direct debit transaction for GIC purchases. Purchases for GICs from other institutions must still submit a cheque.

Yes, agreed, SMSO
I have also puzzled at the broker rates lagging behind fi's, and even dropping a bit.
No doubt a good reason, buy well beyond my knowledge
I just locked in with TANGERINE for 1 yr, 4.7, thinking I should grab it while available, concerned that they might pull it

Loonie said
Deposit broker rates have never been consistently highest. The last year or so has been an exception.
What they do offer is rates that are generally higher than or as high as most and a wider variety of issuers to choose from plus one stop shopping.  

Also, you should have mentioned that Deposit Brokers have some fairly high "minimum purchase" amounts - if you look at GIC Wealth Mgt - there are minimums of $25,000, $50,000 and $75,000 presently to get their best rates - which are not better than say Tangerine's 4.7% One Year, or Peoples 4.8% One Year and the minimum is only (I believe) $1,000 in both cases. GIC Wealth highest One Year today is 4.47% and the minimum purchase is $25,000.

Loonie said
High minimums will affect some people. Personally, I don't buy GICs less than 25K anyway except very occasionally for a one year TFSA contribution - which I don't expect to be doing again. GICWealth has actually recently lowered its highest minimum from 100K to 75K.

That said, GICWealth has the highest minimums I know of. Other deposit brokers definitely have much lower ones, as you know.  

Not in my case. I bought a 5yr GIC through GIC Wealth Management for 40k recently.

Anyone interested in 5-yr GIC for 5.25% can get one through Monarch Wealth broker. I just called them and there is an Ontario-only CU offering it, but also Caisse-Populaire (Canada-wide) is offering to match all 3-, 4-, 5-yr GIC rates.

This is mighty tempting to me. I have a bunch already stashed for this rate and term.