Author: Bloom Investment Counsel, Inc.

What is a Family Office and Should I Consider Using One?

Written by Bloom Investment Counsel, Inc. on March 21, 2022. Posted in Wealth Planning. No Comments on What is a Family Office and Should I Consider Using One?

Family offices are by no means a recent phenomenon. The concept of a family office approach to managing wealth can be traced back to monarchs appointing stewards to manage royal wealth.

This type of wealth administration service later filtered down to the upper nobility, creating the enduring concept of engaging highly competent and experienced professionals to manage, preserve and build wealth and expand legacy—akin to today’s family offices.

In this article, we discuss family offices with particular focus on the difference between a family office and a traditional wealth or investment management firm, and outline two considerations that may help you decide whether a family office approach to managing your, your family’s and/or multigenerational wealth is for you.

Fear of Missing Out: Investment Herd Mentality

Written by Bloom Investment Counsel, Inc. on March 21, 2022. Posted in Investing. No Comments on Fear of Missing Out: Investment Herd Mentality

In many ways, human beings are herd animals. In judgement and in opinion-forming, we tend to conform to the norm—as defined by the herd around us. But as an individual investor you need to be wary of the dangers of investment herd mentality and not let it influence your investment strategy: what is herd mentality, how can you identify it, and how can you avoid it?

What Size of a Mortgage can you Afford in Canada?

Written by Bloom Investment Counsel, Inc. on March 14, 2022. Posted in Life Events. 2 Comments on What Size of a Mortgage can you Afford in Canada?

In real estate, affordability is your capacity to buy a property (maybe a particular house that you have your eye on), typically expressed as the maximum amount you will be able to pay.

You may be a first-time homebuyer, a homeowner looking to move to another house, or an investor looking to buy real estate for rental income opportunities. You may be hoping to buy a condominium, a townhome, a duplex, or a house. Whatever category you fall into, you need to know what size of a mortgage you can afford.

In this article, we provide information, a tool, and a resource to help you find the maximum home purchase price you can afford in Canada.

Wealth Manager or Private Banker—Which Should You Use?

Written by Bloom Investment Counsel, Inc. on March 14, 2022. Posted in Financial Literacy. No Comments on Wealth Manager or Private Banker—Which Should You Use?

With increasing wealth comes increasing responsibility, whether you want that responsibility or not. You may have accumulated wealth over many years of hard work or inherited much of your wealth. Either way, it is crucial to set a strategy in place to not only preserve that wealth for tomorrow, but to be able to enjoy it today, while leaving some for financial succession if desired.

Private Bankers and Wealth Management firms are both eager to help you with this responsibility, providing a one-stop shop for all your financial needs. However, the choices and execution are substantially different. Which is best for you and which should you use?

6 Common Investment Misconceptions Explained

Written by Bloom Investment Counsel, Inc. on March 7, 2022. Posted in Investing. No Comments on 6 Common Investment Misconceptions Explained

“An investment in knowledge pays the best interest. When it comes to investing, nothing will pay off more than educating yourself.” – Benjamin Franklin

We couldn’t agree more with Benjamin Franklin’s comment. What many perceive to be the reality about investing is often full of misconceptions.

Let’s review 6 common misconceptions about investing in the stock market—because your future will thank you for it.