INVESTMENTS
Investments / ACPI
Originally founded in 1987 and headquartered in Peterborough, Ontario, Aligned Capital Partners was transformed through an acquisition in the spring of 2012 and moved to Burlington, Ontario. This transformation allowed the firm to be re-tooled with the specific intent of creating a firm where Canada’s best independent financial planners could find a welcoming home. Our firm is built on the foundation of unmatched industry experience, innovation, and “out of the box” style solutions designed solely for the benefit of the independent thinking, client-centric, and professional advisor.
ACP’s guiding philosophy is grounded in these core principles:
Our evolution is based on seeking out the opinions, comments and ideas of our advisors and acting on them. We will continuously invest in technology and processes to capture efficiencies that allow us to run a low cost yet highly responsive business platform. We treat all of our stakeholders in a fair, equitable manner in order to foster trust, respect and professionalism
Below is a list of all investment vehicles we can help you to utilize to get the most out of your money. Please click on the links below to find out more information about what Twin Power Financial can do for you.
RRSP / Spousal RRSPs
A Registered Retirement Savings Plan (RRSP) or Spousal RRSP is a registered account designated for retirement savings. RRSPs are available to investors under the age of 71. When the owner of an RRSP reaches the age of 71, the RRSP must be closed. Many investors then choose to transfer their RRSP assets to an RRIF (Registered Retirement Income Fund) or a spousal RRIF.
LRSP (Locked-in Retirement Savings Plan) Account or LIRA (Locked-in Retirement Account)
If you leave an employer before you have reached retirement age, you may have to transfer the assets in your employer-sponsored Group Retirement Savings Plan (GRSP) or pension plan to a Locked-in Retirement Savings Plan. Depending on the applicable provincial pension legislation, this plan may be called an LRSP or a LIRA. Until you reach retirement age (as specified by your original pension plan), you are not permitted to draw on these funds. If you wish to receive income from the plan, you may be eligible to transfer the assets to another acceptable locked-in vehicle that can pay out income, such as an LIF (Life Income Fund) or an LRIF (Locked-in Retirement Income Fund). In any case, when you reach the age of 71, you must transfer the assets from your LRSP or LIRA to a LIF or LRIF. RRIF (Registered Retirement Income Fund)
Individuals who hold RRSPs, Spousal RRSPs and Group RRSPs are required by law to close these plans no later than the last day of the year in which they turn 71. Many individuals choose to transfer these RRSP assets to a RRIF or Spousal RRIF.
The RRIF pays out a prescribed mandatory minimum payment each year, but there is no maximum annual withdrawal limit. Withdrawals from a RRIF over the prescribed minimum amount are subject to withholding taxes imposed by Canada Revenue Agency (CRA). Learn more.
The difference between the RRIF and the LIF/LRIF is that the RRIF is used for transferring individual RRSP assets and the LRIF/LIF is used for transferring GRSP or other employer sponsored pension assets. These assets may have been held in an LRSP or LIRA before being transferred.
Both the LIF and the LRIF require a prescribed mandatory minimum income withdrawal and an optional maximum income withdrawal each year. Conversion to an annuity is not mandatory for an LRIF.
You retain control over how your LRIF/LIF is invested, subject to specific restrictions under the Income Tax Act.
Individuals aged 18 and older can contribute up to $5,500 every year to a Tax-Free Savings Account (TFSA). The current maximum space in a TFSA allowed is $63,500 per individual assuming they have been 18 and over since the beginning of the program.
With the ever-increasing cost of education, saving is one way to ensure your children realize their full potential. A registered Education Savings Plan (RESP) is a great beginning.
Contributions earn investment income on a tax-sheltered basis, and for beneficiaries younger than 18 years old, contributions can be eligible for up to $500 per year in federal government Canada Education Savings Grants.
An RESP is called an ESP (Education Savings Plan) until it is registered with Canada Revenue Agency (CRA).
Twin Power Financial and Twin Power Wealth Management of Aligned Capital Partners Inc. (ACPI) are separate legal entities. All non-securities related business conducted by your Advisors as representatives of Twin Power Financial is not in their capacity as agents of ACPI.
Twin Power Wealth Management is an investments trade name of Aligned Capital Partners Inc. (ACPI). ACPI is a member of the Canadian Investor Protection Fund (CIPF.ca) and the Investment Industry Regulatory Organization of Canada (IIROC.ca). Investment products are provided through ACPI, and include, but are not limited to, mutual funds, stocks, and bonds. Jason Lalonde is registered to provide securities to clients residing in the provinces of Ontario.
Non-securities related business includes, without limitation, fee-based financial planning services; estate and tax planning; advising in or selling any type of insurance product; any type of mortgage service. Accordingly, ACPI is not providing and does not supervise any of the above noted activities and you should not rely on ACPI for any review of any non-securities services provided by Jason Lalonde and Paul Lalonde.
Any advice which may be given in respect of non-securities services is given by your Advisors solely and no such advice is given in their capacity as agents of ACPI and is not protected by the Canadian Investor Protection Fund (CIPF). CIPF Coverage is available to investment dealers that are members of IIROC and does not cover insurance products and segregated products not held by a Member.
This website is for general information only and is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice. Please consult the appropriate professional depending on your particular circumstances. This website does not constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it is unlawful to make such offer or solicitation.
The opinions expressed are those of the author and do not necessarily reflect those of ACPI. The information contained has been compiled from sources believed to be reliable, but no representation or warranty, express or implied, is made by Twin Power Financial, Twin Power Wealth Management of Aligned Capital Partners Inc., its affiliates or any other person as to its accuracy, completeness or correctness. All content is as of the date of this publication and is subject to change without notice.
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