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Royal Bank of Canada (RY $206.34)
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Bank of Nova Scotia (The) (BNS $90.18)
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Bank of Montreal (BMO $176.12)
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Hamilton Enhanced Canadian Bank ETF (HCAL $32.32)
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Hamilton Canadian Financials YIELD MAXIMIZER TM ETF (HMAX $15.51)
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Hamilton Utilities YIELD MAXIMIZER TM ETF (UMAX $13.73)
Q: I have been asked by a 23 year old to provide suggestions for when she initiates her FHSA.
I immediately thought of the banks , which I believe is the premium Canadian sector for long term growth, growing dividends , and safety. I would also recommend a more Canadian diversified security (UMAX ) for her next purchase. Of the above banking securities ( all owned between my cash, tax free, and registered accounts ), which would you start with ? Would you be comfortable with UMAX as second pick ( admittedly hasn’t done much but provides diversification into large cap companies and a good distribution yield). I am only interested in Canadian securities at this point. Should I be comfortable with this approach? Any thoughts would be appreciated.
Thanks. Derek .
Any
I immediately thought of the banks , which I believe is the premium Canadian sector for long term growth, growing dividends , and safety. I would also recommend a more Canadian diversified security (UMAX ) for her next purchase. Of the above banking securities ( all owned between my cash, tax free, and registered accounts ), which would you start with ? Would you be comfortable with UMAX as second pick ( admittedly hasn’t done much but provides diversification into large cap companies and a good distribution yield). I am only interested in Canadian securities at this point. Should I be comfortable with this approach? Any thoughts would be appreciated.
Thanks. Derek .
Any