MCT is a Deposit Broker representing many of Canada's Leading Financial Institutions. 

What is a Deposit Broker?

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 in a world that is inclined to focus on investments that carry higher risk and require sophisticated investor market knowledge.

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-posted rates. That can earn you hundreds of dollars more - without the slightest increase in risk.

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.

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.

All of the financial 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 Registered Deposit Brokers Association (RDBA), you can take extra comfort knowing that they are committed to the highest standards of service and subscribe to a code of ethics.

Make your life easier and your savings work harder. Get a GIC specialist.

What are the benefits of dealing with a deposit broker?

• Specializes in guaranteed investment products

• No cost to you on guaranteed investment products

• Finds the top rates by monitoring interest rates and available products daily

• Saves you time and effort by shopping the market on your behalf

• Comprehensive and unbiased advice and recommendations

• Trusted customer relationships with personal and professional service

• Peace of mind knowing that your money is protected by the appropriate deposit insurance organization within their insurance limits

• Tracking investments so you don't miss maturity dates and renewal reminders  

  What type of financial products can I invest in through a deposit broker?

Though deposit brokers specialize in guaranteed investment products, most deposit brokers are full service investment advisors who are licensed to provide the full spectrum of investments - from mutual funds to annuities and life insurance - for RRSPs, RRIFs, LIFs and pension plans, as well as non-registered accounts.

How do Deposit Brokers fit into the financial industry?

Deposit brokers are part of the financial community. They help consumers access the terms and payment options that suit their particular needs.

An increasing number of Canadian consumers looking for investment advice are turning away from traditional financial institutions. Instead, they are moving to alternate sources of advice that have emerged in the investment planning field. These include financial planners, mutual fund dealers, mortgage placement brokers, lawyers, chartered accountants, general insurance brokers and deposit brokers.

 How do I receive my interest payments?

 You may choose to have your interest deposited directly to any financial institution account or it can be mailed directly to you, payable annually, semi-annually, quarterly, or monthly. Alternatively it may be left to compound to maturity for a single payout.

 How is my money deposited?

 Most investments made with your deposit broker are made payable to the designated financial institution, or are in trust to your broker. Your deposit broker will provide you with a suitable acknowledgment that the Trust Account is approved and subject to suitable bonding procedures. Deposits are made, on a daily basis, to an account established by the financial institution to receive your funds.

 When does my investment start?

 Your investment starts the same day you complete an application and submit a cheque, (providing your investment is made prior to that days trading deadline) or the next banking day.*

*Remote locations occasionally are the rare exception.

Why can your deposit broker offer higher interest rates than other financial institutions and advisors?

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 financial institutions all across the country. 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-posted rates. That can earn you hundreds of dollars more - without the slightest increase in risk.

Do I need a lot of money to invest through a deposit broker?

No. Minimum deposits are as low as $500 and can be invested in GICs or RRSP eligible products. Short term deposits between 30 and 364 days normally require a minimum investment of $5,000 but may vary - ask your Deposit Broker. Finally, regardless of your level of investment, you will receive the same personal and professional service.

 How can deposit brokers offer services Free of Charge?

Financial Institutions use the deposit broker channel to offer their products to investors efficiently and at top rates, without the cost of dealing directly with the public. A deposit broker receives compensation directly from the financial institution, and may not need to charge additional fees.

 Macdonald Chisholm Trask Insurance is a Deposit Broker and a member of the Registered Deposit Brokers Association   (www.rdba.ca)

 CONTACT:

Donna Bastock, SCA Deposit Broker                                                                                                                                                                                 
Macdonald Chisholm Trask Insurance
PO Box 880, 6 Masters Avenue
Kentville, NS B4N 4H8
Tel. 902-678-1635
donna.bastock@mcti.ca

Web: www.mcti.ca