A lot has changed for most of us this past week. Kieron and I are now working from home. We made the decision to split our team in half to protect service for you, our clients. We want to ensure that we have the ability to provide continuity of service in all circumstances. For those team members in the office they have physically spread around (practicing social distancing!) and our cleaning team has increased their attention on touch points. This is backed up by people in the office (namely Karen) who has a large supply of Lysol and Clorox wet wipes and hand sanitizer that are being used frequently. For the team members at home we have seen increased support and resources from RBC's technology department to ensure a seamless work experience. We have daily calls with the team and are in constant contact throughout the day. Thank goodness for technology! I am sure as I write this many of you are struggling with some of the same issues at home or at your places of work.

 

Let’s interact digitally

We have added a new tab on our website that will provide any corporate RBC COVID-19 updates and can be found here. You will see that as of yesterday we are no longer accepting visitors or clients into our office, nor are we permitted to have in person meetings. While we are taking this precaution to help prevent the spread of COVID-19, we also appreciate that you still need access to professional investment and wealth services from us. We are fully operational and committed to providing you with the service you need. We are still able to review your portfolio or financial plan. This can be done over the phone and for those of you that are technically savvy via WebEx. WebEx is a way for us to share our screens and is particularly useful when we are working together on your financial plan. We are arranging to have the ability to have pick up / drop off at our location should this be required, however we encourage you to connect with us via our online services at DS Online. For those of you not currently enrolled for DS Online please contact our office and we are happy to get you access. Our online services include the ability to have:

• Real time funds transfers so you can move funds between your bank and investment accounts

• Online account access so you can send requests to us through secure two-way messaging and link your RBC bank and investment accounts.

• eDocuments, so you can receive important documents like account statements, tax slips and trade confirmations online, instead of in the regular mail which may be impacted due to COVID-19

To have assistance in getting access to DS Online or to set up any of the above please email Sarah Kilpatrick and she will assist you in your online needs. To learn more about DS Online read Stay connected with DS Online.

 

Market Update

We are lucky to have trusted experts who can be the voice of reason during this turbulent time. One of these people is Jim Allworth, our Chief Investment Strategist. If you would like to listen to his thoughts please click here to hear his podcast.

 

Economic Stimulus

Yesterday Prime Minister Justin Trudeau announced $82 billion in economic stimulus, aimed at helping individuals and businesses that may face financial hardship due to the virus. There will be $27 billion in direct aid and a further $55 billion in tax-deferral measures. The plan includes emergency support for those not eligible for EI (including self-employed) and a temporary boost to the Canada Child Benefit in the coming months (up to C$150 per child and C$300 per adult who qualifies). There has been a reduction of the required minimum withdrawals from RRIF by 25% for 2020 and an extension for income tax filing and payments. New measures to assist taxpayers during COVID-19 pandemic provides further details.

 

How to cope at home

For those of you with school age children at home, like us, you may be struggling to keep your children occupied or to stop binge watching TV (like in our house). We found this article helpful: 101+ Ideas to Keep Your Kids Busy During Coronavirus Closures

This was a great article on How to stay calm amid COVID-19: Anxiety relief tips. Our team is diligently watching and listening to experts on the situation on your behalf. We are hoping that by doing this you can feel comfortable giving yourself a break, do something enjoyable like take a walk, and if you are in Ancaster you may run into Kieron and I doing the same thing!

 

We want to hear from you

Please know we are here for you in these challenging times. We want to thank the clients we have been speaking with who have asked about our well-being and telling us they trust us and are leaving the worries of their investments to us. We will carry that burden for you. If you want to talk please call or email us at any time. The news can be a overwhelming and will likely get worse as we see the infected numbers increase. We will continue to provide information. If you want to ignore all the information, that is understandable, however we still want to hear that you are ok. Please email or call to let us know you are well and keep us updated. We know many of you have been traveling or are at your vacation properties. Please let us know where you are and how best to get a hold of you.

 

Stay healthy!