Gerardo's Advice for Life 

November 3rd, 2023 by Gerardo Cappelli

an elderly couple chatting on a bench outside a retirement home

Defined-benefit pension plans may be poised for a comeback

During Unifor's recent ratification of a new contract with Ford, Ford agreed to transfer some union members currently enrolled in the company's defined-contribution pension plan to a defined-benefit style plan. You may currently be enrolled in a company pension plan and think you are set for retirement but not all plans are the same.  

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Asset Allocation Strategy - November

As mentioned last month, we were seeing increased consumer spending and a stronger job market.  Upon a closer look, the full-time job creation over the last quarter has been showing a contraction and we don't believe the increased consumption is sustainable.  NBI will leave their tactical positioning unchanged and next month start their detailed outlook for 2024.    

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From the CIO - Long-Term Investment Perspectives

Twice a year, NBI updates their Long-Term Market Expectations for major asset classes over a 5-year, 10-year and 30-year investment horizon.  These projections provide the foundation of NBI's asset allocation strategy.


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Changing from Quarterly to Annual Reports

Starting in January 2024, our team will only be providing Annual Reports to all of our clients with managed portfolios.  Of course, clients who wish to contine receiving Quarter Reports can just send an email to and we would be happy to continue the service.

This does not change your receipt of your monthly Portfolio Statements from National Bank.  You will continue to receive those by mail or online.






Holiday Market 2023

This is the time of year that we start thinking about gift giving and Toronto has many markets and art shows that have a wide selection of gift ideas.  The Annual Toronto Botanical Garden Holiday Market caught my eye as admission is free and the 100 vendors are showcasing planet-friendly and botanically-themed products.  Of course there is always the One of a Kind show that also showcases talented makers, artisans and designers. 

Botanical Market / One of a Kind 



2023 Holiday Train

This train doesn't offer rides but it is the Canadian Pacific Holiday Train that tours Canada and the US, raising money, food and awareness to food banks. Professional musicians play free concerts from the train's stage and CPKC makes a donation to the local food shelf at each stop.  Check out their cross country schedule below but more importantly they will be stopping in Toronto on Nov. 28th at 750 Runnymede Road.

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National Bank Financial - Wealth Management (NBFWM) is a division of National Bank Financial Inc. (NBF), as well as a trademark owned by National Bank of Canada (NBC) that is used under license by NBF. NBF is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF), and is a wholly-owned subsidiary of NBC, a public company listed on the Toronto Stock Exchange (TSX: NA).

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