What are the most trusted financial brands in Canada?

Financial companies rarely take the leading role in these polls where people are asked to rate the companies they trust the most. Tim Hortons topped a recent poll of Canadians, Band-Aid in the US, Toyota in Japan, Google in India and Samsung in South Korea.

Two payment apps, PayPal and Alipay, were in the lead in Germany and China respectively. And Visa took sixth place in the US ranking. But overall, banks and investment companies are not in the game.

People don’t become emotionally attached to their bank or investment company like they do with the coffee and donut outlets they see all the time, or the phones and cars they use. all the time. But we can always try to highlight the financial companies that people trust the most.

That’s the point of the latest Carrick on Money survey. I want you to tell me which financial company you trust the most. This company can be in any aspect of finance – banking, financial planning, budgeting or investing applications, portfolio management, mutual funds, exchange traded funds or other products. The goal is to find out which companies are most successful at making customers feel they can trust them.

I will return to the results in a future newsletter. Stay tuned.

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Rob’s Personal Finance Reading List

A reality check for the millennial lifestyle

A writer for The Atlantic uses a $50 Uber ride to illustrate how low ride-sharing and food delivery prices are over for now.

Housing: a buyer’s market?

A look at how rising interest rates have cooled the housing frenzy and given buyers more leverage than they’ve had in years. Now for a reality check on the marvels of the smart home, where you control functions like lights and temperature with apps for smartphones and other devices.

Don’t count the 60-40 wallet

An American investment blogger reviews the worst years for portfolios with a 60% stock and 40% bond allocation – the standard balanced portfolio, in other words. Bonds have been hit just as hard as stocks this year, prompting some investors to wonder if the 60-40 mix is ​​no longer relevant. Turns out the balanced approach has seen worse and bounced back.

Razor Logic

Shaving Foam…Gel…Shaving Cream – I buy whatever is cheapest and have never thought twice about it. But here’s some information that shaving cream, potentially the most expensive option, is the best. Me, I start buying again what is the cheapest.

Ask Rob

Q: Would it make sense for the Bank of Canada’s overnight rate to be adjusted periodically to match the rate of inflation?

A: The overnight rate determines the trend in consumer borrowing. It is now at 1.50%, compared to 0.25 at the start of the year. The overnight rate has risen to calm inflation, which hit 6.8% in April and could rise further. Matching the overnight rate to the rate of inflation would be an excessively harsh remedy for the economy. Borrowers would be crushed, both individuals and businesses. The Bank of Canada’s current objective is to raise rates to keep up with inflation while preventing the economy from sliding into recession. Even the relatively moderate rate increases envisioned for 2022 make this a difficult task.

Do you have a question for me? Send me. Sorry, I can’t answer everyone personally. Questions and answers are edited for length and clarity.

Today’s financial tool

The best banks for international students, according to the Savvy New Canadians blog.

The cashless zone

A Pitchfork appreciation of a great but underrated musician, Terry Callier. A contemporary of Curtis Mayfield, Callier combines folk, jazz and soul in a way that ranges from dreamy atmospheres to songs that strike me as monumentally catchy. I previously mentioned my favorite Callier song, Ordinary Joe. The album he appeared on is the one featured in Pitchfork’s appreciation, Occasional Rain.

look at this

Salman Ahmed, chief investment officer at Steadyhand Investment Funds, explains why Elon Musk is wrong to call socially responsible investing – known as ESG, for environmental, social and governance factors – a scam.

Who I am on Twitter

Dan Gardinera voice of reason and logic on finance and other topics of interest.

what i wrote about

More Rob Carrick and Financial Hedging

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