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A promissory note is a financial instrument that is a written promise from one party to pay back another party a set sum of money, either on demand or at a specific date in the future.
The promissory note contains all the terms of the borrower’s indebtedness. This includes the principal amount of the loan, any interest rate applied to the loan, the maturity date, and the date and place the note was issued.
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A debenture is a type of debt instrument that is similar to a bond in that it is issued by a company or a government as a way of raising capital. Unlike a bond a debenture is not secured by collateral and must rely on the credit rating and reputation of the issuer for support.
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FOREX is the Foreign Exchange Market. It is a global, decentralized over-the-counter market for the trading of currencies. FOREX allows anyone to exchange one form of currency for another. For example, Canadian dollars for US dollars, British Pounds or EUROs.
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One of our readers sent in a question last week after looking over our old post on Fund Facts.
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One of our readers is a keen follower of the stock market. They aren’t heavily invested in stocks, but they enjoy monitoring the price of some local companies and some well-known blue chips. After observing some wide fluctuations and volatility over the years they want to know what factors affect the value of a stock?
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The consumer price index (CPI) is used to determine the changes in consumer prices experienced by Canadians. The CPI is determined by looking at the change in cost over time of a fixed basket of goods and services that are purchased by consumers. The basket always contains the same quality and quantity of goods which allows the CPI to reflect the pure price change.
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Across Canada November is Financial Literacy Month! Financial literacy organizations will be running campaigns and programs coast to coast all month long and the Nova Scotia Securities Commission is getting in on the fun.
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There should be more involved in finding an adviser than simply choosing the first person you find when searching on Google. Choosing the right adviser for you takes some time and effort. After all, we’re talking about the person that you’ll be trusting with your money and your financial goals.
When looking for an adviser you may want to ask for referrals from friends or family, or start the search on your own. Either way make sure you can answer the following questions to your satisfaction.
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A robo-adviser is a specific class of financial adviser that delivers financial advice or portfolio management online with very little human input. A robo-adviser develops its financial advice through algorithms. Using these algorithms, a robo-adviser manages a client’s portfolio based on their income, risk tolerance, financial goals and desired returns.
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Now that you know all advisers need to be registered and that there are categories of registration, what do you do with this information? If you are going to do business with an adviser and put them in charge of your hard-earned money, you need make sure they are registered. Thankfully, the Canadian Securities Administrators (CSA) has made this very easy to do.