RowanOak Commentary – January 14 2020

It’s more than not selling when markets go down!
RowanOak Commentary – January 14 2020

I hope everyone had a relaxing, enjoyable holiday season. So much has changed due to COVID-19, it’s hard to know where to start taking stock of the year or begin thinking ahead to the next one. 2020 was a year of surprises. There was the speed at which the pandemic escalated, the severity of the lockdowns, the size of the global government stimulus measures, and the magnitude of the equity market decline and rebound. Out of necessity, your priorities may have shifted.

But the good news is, your financial plan can accommodate changes too.

The heart of our business has always been about getting to know you and creating a plan you can rely on; while integrating tax, estate and investment solutions that are interwoven within this plan. Our innovative model can help you thrive, despite the hardships and uncertainties we’re all facing in the midst of this pandemic. If you have questions about your financial plan, require an update, or have had a material change in life during COVID, please let us know. No matter what your priorities are, we can help ensure you feel safe and secure about today and tomorrow.

New Member of your team: Scott Eicher, CFA, CFP

RowanOak Private Wealth would like to welcome Scott Eicher to our team. Scott is a graduate of Wilfrid Laurier University, has been in the financial industry since 1997 and holds the CFA and CFP designations. He has spent the last 8 years as Portfolio Manager and Chief Compliance Officer with a Toronto based Wealth Management firm offering comprehensive financial planning and portfolio management to high net worth clients.

Scott will add strength in our analysis and research of investment solutions for you, manage the day to day operations of our investment models and new pool, while being responsible for all trading and compliance functions at RowanOak.

Scott will come to know you as he will be joining in on selected client meetings as they arise. Scott can be reached at

The TFSA Contribution limit for 2021 is $6,000. The lifetime limit for 2021 is $75,500.

If you are unsure about how much you can contribute to your TFSA you can confirm your remaining TFSA contribution room for the year by following the steps below:

  • Log into your CRA My Account online or contact the CRA by phone at 1(800)959-8281 where you can request your TFSA contribution room as at January 1, 2021.
  • Subtract any contributions made in January as CRA will not yet consider the contributions made year-to-date.

For 2020, the last day to contribute to your RRSP is March 1, 2021

The RRSP deduction limit for the 2020 tax year is 18% of your pre-tax earned income or $27,230, whichever is less.

Any contributions to the RRSP and/or TFSA can be made on-line through your bank or alternatively, we can pull the funds for you. Please contact Jeanette at if you would like us to process contributions on your behalf.

Registered Retirement Income Fund Minimums

Our office will be sending your annual RRIF payment letter outlining your 2021 RRIF minimum amounts and payment instructions we have on file for you. You can also log into your NBIN portal for your 2021 payment amounts. Feel free to contact our office should you wish to make changes to your payment method this year.

Winner of the 2020 Readers Choice Award

We would like to take this opportunity once again to thank our clients for their support in 2020 and the recognition showed through nomination and awarded with the 2020 Readers’ Choice Award. The appreciation of voting our office as Best Financial Advisor 2020 is not taken for granted. It is with honour and pride that we continue to serve you with the dedication and quality of service you’ve come accustomed to.

Despite our optimism, we are all keenly cognizant of the current backdrop here in Canada with cases stubbornly on the rise. That said, it’s hard not to be optimistic and inspired by the ingenuity of our human race, as here we are in the initial phase of vaccine distribution. We know there will be bumps along the way, but we expect to be in a good place later this year, and we hope to start seeing you all again by then!

With warm regards,

Paul Rowan
President, Chief Executive Officer
Chairman of Investment Committee

– and –

Nikala Radley-Smith, CIM
Portfolio Strategist & Director, Client Services

RowanOak Private Wealth Counsel

Over the last 20 years, RowanOak Private Wealth Counsel has gained the reputation of an industry-leading innovator for its approach to wealth management. Considered a pioneer in providing the highest standards of proactive advice and planning, the RowanOak team places the interests of its clients first in all aspects of the practice.

© 2022
All rights reserved.