2024 was a year full of challenges and surprises, proving once again that predicting future events and returns is next to impossible. As an industry, we spend a lot of time on forecasts however these largely are an exercise of futility.

Global markets ended up being very strong in 2024, powered by strong performance in the U.S. Our portfolios performed well in 2024 and for the most part we matched or exceeded our expectations.

We are in the early months of 2025; however, it is already proving to be one filled with exceptional events. Already we have experienced:

• Announcements regarding broad based tariffs on Canada & Mexico
• The postponement of tariffs
• The announcement that tariffs will now move forward
• Stay tuned for the next tweet because this might change too

This is but a small example of the level of uncertainty that market participants and the general public are faced with. With this in mind we are often asked how to plan for such an uncertain economic and political environment. We have no idea how all of these changes will play out though we can make some educated guesses. History has shown that it is extremely difficult to change investment strategies when the ground is constantly shifting beneath our feet.

With this in mind we think it’s best to stick to the basics. In these uncertain times, it’s best to revisit basic investment principles that have stood the test of time:

• Understand your time horizon
• Understand and plan for your short and medium term cash flow needs. In very uncertain times you should consider planning to put aside 4 to 5 years of cash flow requirements in short term, liquid investments
• Strive to understand your ability to live with heightened levels of volatility
• Revisit your financial plan to make sure that your investments match your objectives.

We believe that during volatile times communication is at a premium. Let us know if there are any major changes in your plans, such as increased cash flow requirements, change in health or employment or business challenges.

Changes to Our Team

Two years ago, we added Angela Alberga to our team and I can say without a doubt that she has helped us to deliver a higher level of service and the ability to respond to your service requests in a timely manner. Thank you, Angie.

In February of 2024, we added Jessica Salanon to our team. Jessica was an extremely high performing student-athlete at McGill University and was the captain of their basketball team. I was tempted to challenge her to a game of 1-on-1, but luckily common sense prevailed.

After completing her Finance degree at McGill, Jessica had the opportunity to participate in a rotational program within the firm. She spent time in private banking, at the head office and her final stop was at Wood Gundy, where she decided to build her career.

Her goal is to become a Wealth Advisor and we are delighted to be in a position to be mentors to Jessica and to help her realize her dreams. Welcome Jessica and we are looking forward to continue to build an exceptional practice with you on board.

Before leaving this topic I would like to extend a giant thank you to our team:

• Matthieu has been instrumental in helping us design portfolios.
• Bryan is always at the ready to help with any service or admin issue that might arise.
• Last but not least Anna is simply terrific in keeping us on track, responding to client requests and most importantly truly caring about positive outcomes for our clients.

Once again we would like to express our gratitude for the confidence and friendship you extend to us, it gives us a great sense of purpose to serve you and to answer your questions during good and bad times.

The Jim Wilson Financial Group is driven by a diverse team of professionals dedicated to your financial success. We invite you to reach out to us at (514) 847-6647 or by submitting our Contact form.