nyuuzyou/wikis huggingface dataset:
Global Industry Classification Standard

The Global Industry Classification Standard (GICS) is an industry taxonomy developed in 1999 by MSCI and Standard & Poor's (S&P) for use by the global financial community. The GICS structure consists of 11 sectors, 24 industry groups, 68 industries and 157 sub-industries into which S&P has categorized all major public companies. 
GICS is used as a basis for TSX, S&P and MSCI financial market indexes in which each company is assigned to a sub-industry, and to a corresponding industry, industry group and sector, according to the definition of its principal business activity. For most retail investors, only the 11 sectors are important.
"GICS" is a registered trademark of McGraw Hill Financial and MSCI Inc.
==Revisions==
The classification standard is regularly updated by S&P Dow Jones Indices and MSCI. Numerous changes over the years have resulted in the addition, deletion, or redefinition of various sub-industries, industries, or industry groups. Since 1999, there have been two revisions at the sector level:
*In 2016, the real estate industry group (with the exception of mortgage REITs) was moved out of the financials sector to a newly created real estate sector.
*In 2018, the telecommunication services sector was renamed communication services. The sector was expanded to include media and entertainment companies previously in the consumer discretionary sector, as well as interactive media and services companies from the information technology sector.
==See also==
* Asset classes
* Diversification
==References==
==External links==
* Official website, GICS - MSCI
Category:Glossary
Government retirement benefits

There are a number of components to the government retirement benefits that are available to Canadians. The Canada Pension Plan (CPP) and the Québec Pension Plan (QPP) are mandatory defined benefit pension plans for workers from the age of 18. QPP applies to the province of Quebec only, and CPP to the rest of Canada. 
If you have contributed to both the CPP and QPP, you must apply for the QPP if you live in Quebec or for the CPP if you live elsewhere in Canada. Contributions to CPP (or QPP) are made through payroll deductions.
The Government of Canada offers two addition plans, Old Age Security (OAS) and Guaranteed Income Supplement (GIS) which are non-contributory plans.
==When do benefits start==
The standard age for beginning to receive your CPP (or QPP) retirement pension is the month after your 65th birthday. However, you can take a reduced pension as early as age 60 or begin receiving an increased pension after age 65. The amount of your pension will depend on how much and for how long you have contributed to the CPP (or QPP) and on your age when you want your pension to start. If you take it before age 65, your pension will be reduced, by up to 36% at age 60. If you take it after age 65, your pension may be larger, by up to 42% at age 70. 
==Old Age Security and Guaranteed Income Supplement==
Old Age Security (OAS) and Guaranteed Income Supplement (GIS) are benefits funded from general government revenues that are available from age 65, depending on a person's eligibility and other sources of income. These programs are not automatic, so you must apply in advance to receive the benefits. It is generally recommended that you apply about six months before you are eligible for benefits.
 
==Applications==
*Canada Pension Plan Retirement Application
*Québec Pension Plan Retirement Application
*Old Age Security Application
*Guaranteed Income Supplement Application
==See also==
*Canada's retirement income system
*Canadian retirement software & calculators
==References==
==External links==
* Government of Canada, Public pensions
Category:Government retirement benefits
Category:Retirement planning
Category:Retirement living
Growth investing

Growth investing is an investment approach that focuses on stocks with above average capital appreciation. Those who follow this style, known as growth investors, invest in companies that exhibit signs of above-average growth, even if the share price appears expensive in terms of fundamental metrics such as price-to-earnings (P/E) or price-to-book (P/B) ratios. In typical usage, the term "growth investing" contrasts with the strategy known as value investing.
Since the bursting of the dotcom bubble, growth investing is less popular. An alternative, or refinement, is known as growth at a reasonable price (GARP) which blends aspects of growth and value investing. Investors seeking growth at a reasonable price look for stocks that they believe will deliver above-average growth, but that are not too expensive.
Notable investors such as Warren Buffett have stated that there is no theoretical difference between the concepts of value and growth ("Growth and Value Investing are joined at the hip"), as growth is always a component in the calculation of value, constituting a variable whose importance can range from negligible to enormous and whose impact can be negative as well as positive.
==See also==
* Buy and hold
* Beating the TSX
* Value vs growth
==References==
Category:Glossary
Category:Investment styles
Category:Equities
Category:Investment management
Guaranteed Interest Account

A Guaranteed Interest Account (GIA), is a deposit type product that offers a range of holding periods, from one to five or more years, during which the posted interest rate is guaranteed. GIAs are offered by insurance companies and operate similar to a Guaranteed Investment Certificate (GIC). GIAs are also known as "guaranteed interest contracts", "guaranteed interest annuities", or "accumulation annuities".Ontario Securities Commission, How GIAs work, updated August 30, 2021, viewed November 20, 2021.
Because they are offered by a life insurance company they have different guarantees, and the added benefits of a beneficiary designation and potential creditor protection.Manulife Investment Management (an issuer of GIAs), Guaranteed interest accounts, November 17, 2020, viewed November 20, 2021. GIAs may be offered for terms of up to 10 years.
GIA's are guaranteed in the event of issuer insolvency by Assuris. If your life insurance company fails, your Accumulation Annuity policy will be transferred to a solvent company. On transfer, Assuris guarantees that you will retain 100% of the Accumulated Value up to $100,000.Assuris - Accumulation Annuity, viewed November 20, 2021. If you want to buy more than $100k in GIAs, get them from different insurance companies since "Assuris protects each member company separately".
GIAs can be purchased from advisors licensed to sell life insurance (including many advisors at full-service investment dealers and independent deposit brokers), as well as insurance company agents.Ontario Securities Commission, How to buy GIAs, updated August 30, 2021, viewed November 20, 2021.
==See also==
*Annuities
==References==
==External links==
Category:Cash management
Hybrid security

Hybrid securities are a broad group of securities that combine the elements of the two broader groups of securities, debt and equity.
==Examples==
===Innovative Tier 1 capital issued by banks===
These securities, as the name suggests, have some of the characteristics of both bonds and equities. Bank hybrids are considered equity by the banks, but are often considered to be bonds by investors. Hybrid securities are complex and difficult to analyze,Hymas, James., OSFI Loosens Rules on Innovative Tier 1 Capital, viewed Feb. 19, 2009. and should only be bought by sophisticated investors.
===Convertible debentures===
These securities are a type of loan issued by a company that can be converted into stock by the holder and, under certain circumstances, the issuer of the bond. By adding the convertibility option the issuer pays a lower interest rate on the loan compared to if there was no option to convert. These instruments are used by companies to obtain the capital they need to grow or maintain the business.Convertible Debenture Definition | Investopedia, viewed January 3, 2016.
==See also==
* Preferred shares
==References==
Category:Glossary
Category:Equities
Category:Asset classes
IRS W-8 BEN form

The IRS W-8 BEN form is an United States Internal Revenue Service (IRS) reporting form that Canadian investors often are required to provide to their discount brokerage. The full designation W-8 BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals).
This article is intended to provide an overview of the IRS' W-8 BEN form. The specific details of filling out this form are beyond the scope of this article and you should consult the IRS' website for complete details.
== Advantages to filing ==
It is a tax document used to certify that your country of residence for tax purposes is outside of the United States. It is required because of an intergovernmental agreement between Canada and the U.S. which obligates Canadian Financial Institutions to provide this information. It allows Canadian investors to claim a reduced withholding tax rate on US investment income of a Canada/U.S. income tax treaty. It's a material benefit because the withholding tax is normally 30 per cent. With a current W-8 BEN in place, you may qualify for the reduced rate of 15 per cent tax on dividends, or zero tax on interest.
== How long it is valid? ==
Generally, a Form W-8 BEN will remain valid for three calendar years. However, under certain conditions a Form W-8 BEN will remain in effect indefinitely absent a change of circumstances. There is some evidence that Canadian financial institutions have converted to an online "tick the box" format instead of filling out the full form and only require you to tick the box every three years.
==See also==
* Pension taxation
* T1135 Foreign Income Verification Statement
==Reference==
==Further reading==
* 
* 
* 
==External links==
* Instructions for Form W-8BEN (07/2017), Internal Revenue Service (IRS)
* W-8 Forms Definition, Investopedia
Category:Glossary
Category:Tax forms
Category:Tax planning
Insurance quotes

When seeking insurance quotes, while price matters, it's not the only concern. The price may be right but the insurance issuer may not be if you can't get anywhere on a claim. Make sure that your insurance, especially long term relationships such as with life, disability, or long-term care, is with healthy companies. Company financial ratings are provided by A.M. Best, DBRS, Moody's and Standard & Poor's.
 Online providers of insurance quotes
Quote provider 	Main Site
Insurance Hotline	link
Kanetix 	link (Registration required)
Insurance Hunter 	link
Term4Sale 	link
==External links==
*Inside Canada's Insurance Industry -- Why promises of lowest rates don't always deliver, The Globe and Mail, December 29, 2010
Category:Insurance
Investing costs matter

"Investing costs matter" shows how high fees can significantly reduce the amount of money you have in your portfolio. The longer you hold onto investments with high management expense ratios (MERs), the less money you will have for retirement or other goal.
The math works the same way for financial advisors who charge a fee based on assets under management (AUM). Whether you have an advisor who charges a 1% AUM fee, or a fund which has a 1% expense ratio, the effect on your portfolio is the same.
==Percentages lost to annual fees==
Stated more precisely:
*Assume that you buy an investment and do not touch it for n years. In other words, you make a lump sum investment.
* Assume that the investment has an annual fee f, expressed as a percentage. For example, a mutual fund might have an annual fee (an expense ratio) of 1%, 2%, or more.
*Assume that the annual fee is taken once per year, at the end of each year. This assumption is a simplification. For example, in reality, a mutual fund calculates its annual fee as a daily fee.
*Temporarily imagine that the annual fee is zero and that your investment grows for n years. The final value of your investment: consider it as "100%."
*What percentage of your investment do you lose to annual fees? The answer is 1 - (1 - f)^{n}.
Later, we will prove the above formula. First, see the following table and examples.
How much do you lose to annual fees after many years?
 	0.05%	0.10%	0.15%	0.20%		0.25%	0.50%	0.75%	1.00%	1.25%	1.50%	1.75%		2% 	3% 	4% 	5% 	6% 	7% 	8% 	9% 	10%
5 years 	0% 	0% 	1% 	1% 		1% 	2% 	4% 	5% 	6% 	7% 	8% 		10%	14%	18%	23%	27% 	30% 	34% 	38% 	41%
10 years 	0% 	1% 	1% 	2% 		2% 	5% 	7% 	10% 	12% 	14% 	16% 		18%	26%	34%	40%	46% 	52% 	57% 	61% 	65%
20 years 	1% 	2% 	3% 	4% 		5% 	10% 	14% 	18% 	22% 	26% 	30% 		33%	46%	56%	64%	71% 	77% 	81% 	85% 	88%
30 years 	1% 	3% 	4% 	6% 		7% 	14% 	20% 	26% 	31% 	36% 	41% 		45%	60%	71%	79%	84% 	89% 	92% 	94% 	96%
40 years 	2% 	4% 	6% 	8% 		10% 	18% 	26% 	33% 	40% 	45% 	51% 		55%	70%	80%	87%	92% 	95% 	96% 	98% 	99%
50 years 	2% 	5% 	7% 	10% 		12% 	22% 	31% 	39% 	47% 	53% 	59% 		64%	78%	87%	92%	95% 	97% 	98% 	99% 	99%
60 years 	3% 	6% 	9% 	11% 		14% 	26% 	36% 	45% 	53% 	60% 	65% 		70%	84%	91%	95%	98% 	99% 	99% 	100%	100%
70 years 	3% 	7% 	10% 	13% 		16% 	30% 	41% 	51% 	59% 	65% 	71% 		76%	88%	94%	97%	99% 	99% 	100%	100%	100%
80 years 	4% 	8% 	11% 	15% 		18% 	33% 	45% 	55% 	63% 	70% 	76% 		80%	91%	96%	98%	99% 	100%	100%	100%	100%
90 years 	4% 	9% 	13% 	16% 		20% 	36% 	49% 	60% 	68% 	74% 	80% 		84%	94%	97%	99%	100%	100%	100%	100%	100%
100 years	5% 	10% 	14% 	18% 		22% 	39% 	53% 	63% 	72% 	78% 	83% 		87%	95%	98%	99%	100%	100%	100%	100%	100%
Example: If you buy an investment with an annual fee of 0.10%, and do not touch the investment for 40 years, you lose 4% to annual fees.
Example: If you buy an investment with an annual fee of 2%, and do not touch the investment for 40 years, you lose 55% to annual fees.
==Formula proof==
See the Bogleheads wiki for the formula proof.
== See also ==
* Low cost investing
== References ==
== External links ==
* 
* 
* 
Category:Mutual funds and ETFs
Category:Investment management
Investment fund distribution

Investment fund distributions consist of net capital gains made from the profitable sale of portfolio assets, along with dividend income, interest earned by those assets and can also have a return of capital component. These distributions are made from mutual funds and exchange-traded funds (ETFs). 
Once distributions are made, the fund’s share price declines by the total of the per-share distribution to the fund’s shareholders. The price falls because the distribution is withdrawn from the fund’s assets, which decreases the net asset value (NAV).
== Why do funds make distributions? ==
Distributing income earned by fund holdings benefits unitholders by minimizing overall taxes paid by the fund. Since fund trusts are taxed at a rate equivalent to the highest personal tax rate, any income retained by a fund is typically subject to more tax than if it were taxed in the hands of individual investors.
== Tax treatment ==
If you hold mutual funds or ETFs in a non-registered account then you are taxed on the distributions of income that are flowed out to you. If you own units of a mutual fund trust, the trust will give you a T3 slip, Statement of Trust Income Allocations and Designations. If you own shares of a mutual fund corporation, the corporation will give you a T5 slip, Statement of Investment Income. A return of capital will reduce the adjusted cost base (ACB) of your units or shares.
== See also ==
* Foreign withholding taxes
== References ==
== External links ==
*Tax Treatment of Income From Investments in Mutual Funds, TaxTips.ca
Category:Mutual funds and ETFs
Joint account

A joint account offers the same features and benefits as a personal chequing or savings account held by one person. It allows two (or more) people to use the same account to make deposits, payments, withdrawals and conduct other account business. 
As well as joint bank accounts, it is possible to have joint investment accounts (non-registered). 
The joint account holders share access to the account and are responsible for any transactions made. For example, if the account has overdraft protection, all account holders may be responsible for repaying debts.
== Right of survivorship ==
In many cases, joint accounts include the right of survivorship. This means that if one of the account holders dies, the surviving account holder becomes the owner of the account, with the right to deposit, withdraw, and deal with the funds in the account.
== Risks of a joint account ==
Before considering a joint account setup one should be aware there are risks such as:
* control over the account
* relationship breakdown
* accountability
* legal disputes
* creditors
== Tax considerations ==
Joint account holders must carefully consider the tax considerations of a joint account, in particular income attribution rules. 
In the case of non-registered investment accounts, the adjusted cost base can be impacted if investments are transferred in-kind. 
== See also ==
* Power of attorney
* Trust
== References ==
== Further reading ==
* 
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== External links ==
* 
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Category:Glossary
Category:Personal finance
Joint tenancy

Joint tenancy is often used for estate planning purposes so that assets transfer without the need to probate a will. The term "joint tenancy" refers to a legal arrangement in which two or more people own a property together, each with equal rights and obligations. The legal relationship creates what is known as a right of survivorship so if one owner dies, their interest in the property is directly passed on to the surviving party(s) without having to go through probate or court system.
== Advantages and disadvantages ==
There are advantages and disadvantages of using this structure. There are two basic types of joint ownership: tenancy-in-common and joint tenancy with right of survivorship (JTWROS). The latter is not recognized in Quebec.
=== Tenants-in-common ===
Tenants-in-common share a specified portion, equal or unequal, of ownership rights in assets. Upon the death of a tenant-in-common, their portion forms part of their estate to be distributed under their will or on intestacy.
=== Joint tenancy with right of survivorship ===
In a JTWROS, two or more people each own an undivided interest in the whole asset. Joint tenants share equal ownership and have equal rights to keep or dispose of the property. On the death of a joint owner, the assets go to the surviving joint tenant or tenants, not to the deceased joint owner’s estate.
==See also==
* Joint account
* Life insurance
* Power of attorney
* Trust
==References==
==Further reading==
* 
* - In Québec, a joint account is frozen upon the death of one of the joint account holders.
* 
==External links==
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Category:Estate planning
Category:Financial planning
Know your client

Know your client (KYC) rules are intended to protect investors and advisors. Investment Industry Regulatory Organization of Canada (IIROC) Dealer Member rules impose KYC and suitability requirements on Dealer Members and Registered Representatives.Investment Industry Regulatory Organization of Canada, Request for comments on draft Guidance Note: “Know-your-client and Suitability Guidelines”, viewed June 18, 2012 
Most investment firms are required to determine the suitability of each proposed transaction in your account.Know Your Client: The Importance of an Accurate KYC, Boomer & Echo, May 9, 2017, viewed February 19, 2020 This applies whether or not the trades are the result of
recommendations by the firm’s staff.
==Determining suitability==
To determine suitability, your firm and advisor need to fully understand your financial situation, investment needs, objectives, investing experience and tolerance for risk. These can only be assessed by collecting from you accurate information about your personal and financial circumstances. This requirement, part of the Know Your Client rule, is one of the cornerstones of securities regulation.IIROC, Opening Your Retail Account, What your investment dealer needs from you – and why, viewed June 18, 2012
==Information required==
In order for your firm and advisor to comply with the Know Your Client rule, you will be asked to provide and keep up to date the following information:
* martial status
* date of birth (to determine age)
* occupation, if you are retired, your occupation before you retired
* income and net worth
* number of dependents
* risk tolerance, your willingness to accept investment risk and your ability to withstand financial losses
* investment objectives, why you are investing or what you intend to use your investments for
* investment knowledge and experience
* time horizon, how long you expect to keep the majority of your account invested to reach your investment objectives
==See also==
* Discount brokerage
* Financial advisor
==References==
==External links==
*Know your client and suitability - Guidance, was issued by IIROC on March 12, 2012 .
* Opening an Investment Account: A Guide for Investors, IIROC brochure
* Opening Your Investment Account, Mutual Fund Dealers Association of Canada
* [Know your client, IFSE Institute
* When to identify individuals and confirm the existence of entities – Securities dealers, Financial Transactions and Reports Analysis Centre of Canada
* [When to identify individuals and confirm the existence of entities – Financial entities, Financial Transactions and Reports Analysis Centre of Canada
Category:Financial planning
Lifelong Learning Plan

The Lifelong Learning Plan (LLP) allows you to withdraw money from your Registered Retirement Savings Plan (RRSP) to pay for training or education. This money could also help pay for training or education for your spouse or common-law partner.Government of Canada, Lifelong Learning Plan, viewed February 20, 2009.
Under this plan, you can withdraw up to $10,000 in a calendar year from your RRSPs. Your spouse or common-law partner can also withdraw up to $10,000 from his/her RRSPs per calendar year, for a $20,000 maximum withdrawal in a calendar year of both personal and spousal withdrawals.
More good news is that you don’t have to include the withdrawn amounts in your income, and the RRSP issuer will not withhold tax on these amounts. You have up to 10 years to repay these withdrawals to your RRSPs. Any amount not repaid after the 10-year period will count as income for the year it is due.
==Participation conditions==
The LLP program has specific conditions that all must be met to participate. See Who can participate in the LLP?
==Withdrawing RRSP funds==
A LLP withdrawal requires the completion of RC96 - Lifelong Learning Plan (LLP) Request to Withdraw Funds from an RRSP for each withdrawal. There are timing requirements related to when the RRSP was opened or when recent contributions were made that must be met. 
==Repayment to your RRSP==
When you withdraw funds from your RRSP under the LLP, you have up to 10 years to make repayments to your RRSPs. Usually, each year you have to repay 1/10 of the total amount you withdrew until the full amount is repaid. You do not have to pay any interest on the amounts you withdrew.Canada Revenue Agency, Repayments to your RRSP under the LLP, viewed August 17, 2012.
==Special circumstances==
There are a number of specials situations where the repayments have to be made in less than 10 years or for which you must cancel your LLP withdrawal. These include death, becoming a non-resident, turning 71 years old, and abandoned school. See Special circumstances for more details.
==References==
==External links==
*Canada Revenue Agency, Lifelong Learning Plan
*Canada Revenue Agency, RC4112 - Lifelong Learning Plan (LLP) Includes Form RC96
*Service Canada, Lifelong Learning Plan (LLP)
Category:Financial planning
Category:Education finances