Welcome to "Steady Gains", the Caldwell Group's new monthly newsletter, delivering concise insights on markets, financial planning strategies and team updates.  We aim to provide clear perspectives and actionable strategies to help you achieve financial clarity and confidence.

We would like to start on a personal note, as we are delighted to congratulate our colleague, David Porter, on his recent marriage to Emily! We wish them a wonderful future together.
 

 

A Favorable Outcome for Canadians Investing in the U.S.

We are pleased to report a positive development for Canadians investing in the U.S. A recent legislative proposal, Section 899, has been defeated.

The proposal posed a risk to Canadian investors, as it sought to override long-standing tax treaty benefits. Had it passed, the legislation may have resulted in higher withholding taxes on U.S. investments.

With the failure of this proposal, the favorable withholding tax rates established under the Canada-U.S. treaty remain secure.

The New Face of Fraud: AI-Generated Scams

Generative AI has enabled a new wave of highly sophisticated online scams. Fraudsters now use "deepfake" technology to create realistic videos of public figures, such as the Prime Minister and former Bank of Canada Governor Mark Carney, to promote fraudulent investments. These fabricated endorsements are dangerously convincing and are spread widely on social media platforms.

To prove the point, we created this fake video.

It took only two minutes.

The accessibility of this technology means that any investment opportunity encountered online, regardless of its apparent credibility, must be met with extreme skepticism. Verifying information through trusted, independent channels is key. We can act as that channel for you, so don’t hesitate to reach out.

 

Justin Caldwell
Senior Investment Advisor, Portfolio Manager
Caldwell Group