Welcome to the October Edition of Pharus Perspectives

With fall in full swing, October is a great time to revisit financial priorities, reflect on recent market developments and look ahead to the opportunities and challenges shaping the months ahead. In this edition of Pharus Perspectives, we explore the latest market trends, share practical year-end planning strategies and highlight investment and financial decisions that can help you make the most of your wealth.

In this month’s edition:

• Markets & Investing: We review September’s performance across Canadian, U.S. and international markets, explore the key themes influencing investors and discuss what to watch as we move through October.

• Retirement Readiness: In this month’s special feature, Derek Kohalmi of Pharus Wealth Advisory Group explores RRIF timing and withdrawals, highlighting the importance of understanding minimum withdrawal requirements, tax implications and strategies for managing retirement income effectively.

• Tax-Efficient Wealth Strategies: We explore ways to make your wealth work harder through tax-efficient investing, thoughtful account selection and strategies designed to help preserve more of what you earn.

• Financial Solutions Feature: We examine margin investing, including how borrowing to invest works, the potential benefits and the important risks investors should understand before considering this strategy.

• Estate & Legacy Planning: We look at important considerations for cross-border estate planning and the steps that can help protect your assets and simplify the transfer of wealth to the next generation.

• Year-End Financial Planning: With the end of 2026 approaching, we highlight important tax-planning opportunities and financial deadlines to consider before year-end.

We hope you enjoy this month’s edition of Pharus Perspectives and find the insights useful as you plan for the months ahead. As always, please feel free to reach out to our team to discuss any of the topics covered in this month’s newsletter.

Pharus Market Insights

September in Review: Rising Bond Yields and Shifting Market Risks

September Market Recap

As markets entered the final quarter of 2026, investors faced a challenging combination of persistent inflation, rising bond yields, geopolitical uncertainty, and growing concerns about government debt. While enthusiasm for artificial intelligence continued to support parts of the technology sector, market performance became increasingly uneven, reinforcing the importance of diversification.

Canadian Markets: Canadian equities faced competing pressures from commodity prices, interest-rate expectations, and global economic uncertainty. Energy and materials remained sensitive to geopolitical developments and shifts in commodity demand, while higher bond yields presented a challenge for interest-rate-sensitive sectors. Investors continued to assess the outlook for domestic growth and the implications of global borrowing costs for Canadian markets.

U.S. Markets: U.S. equity performance was increasingly concentrated in technology and growth-oriented stocks, supported by continued enthusiasm for artificial intelligence and its potential to drive corporate earnings. However, concerns about inflation, government borrowing, and the sustainability of elevated valuations contributed to a more cautious market environment. Rising Treasury yields also placed pressure on bond prices and increased competition between fixed income and equities for investor capital.

International Markets: International equities faced a similarly complex backdrop, with performance influenced by regional economic conditions, geopolitical risks, currency movements, and changing interest-rate expectations. Differences in economic growth, fiscal positions, and sector composition continued to create opportunities for investors seeking diversification beyond North American markets.

Key Themes to Watch in October

1. Rising Bond Yields and Government Debt

Government borrowing and the sustainability of public debt remain important considerations for global markets. As governments issue more debt, investors may demand higher yields to compensate for inflation, interest-rate uncertainty, and fiscal risks. Higher yields can increase borrowing costs across the economy, pressure existing bond prices, and place downward pressure on equity valuations.

2. Inflation and Central Bank Policy

Inflation remains a key determinant of the market outlook. Energy prices, geopolitical developments, and the resilience of consumer demand could influence the direction of inflation and the pace of future interest-rate decisions. Investors will be watching economic data and central bank commentary closely for indications of whether borrowing costs are likely to ease, remain elevated, or rise further.

3. Artificial Intelligence and Corporate Earnings

Investment in artificial intelligence continues to provide a potential source of long-term growth, particularly for technology companies and businesses supporting the expansion of data centres, semiconductors, and digital infrastructure. However, investors will increasingly look for evidence that substantial capital spending is translating into sustainable earnings and cash flow. Elevated valuations may leave some companies vulnerable if expectations are not met.

4. Economic Growth and Market Breadth

The resilience of corporate earnings and economic activity has helped support markets, but higher borrowing costs could eventually weigh on business investment and consumer spending. Investors should watch whether market gains broaden beyond a relatively narrow group of large technology companies or remain concentrated in a limited number of stocks and sectors.

5. Geopolitical Risks and Commodity Prices

Geopolitical tensions can create uncertainty for energy markets, inflation, global trade, and investor confidence. Significant movements in oil prices could influence inflation expectations and central bank policy, while disruptions to global supply chains could affect corporate costs and profitability.

Looking Ahead

As October begins, markets face a balance between resilient corporate fundamentals and growing macroeconomic uncertainties. Artificial intelligence and earnings growth may continue to provide support for equities, while inflation, government borrowing, and elevated bond yields could contribute to volatility across both stock and bond markets.

In this environment, we believe maintaining a diversified portfolio aligned with individual investment objectives and risk tolerance remains important. Rather than reacting to short-term market movements, investors should remain focused on long-term financial goals, disciplined asset allocation, and the quality of the investments they own.

Click Here to Access Returns of various Markets and Indices on our Monthly World Markets Report.

Pharus Model Research Oberservations

Markets enter the final quarter of 2026 balancing resilient economic growth and corporate earnings against persistent inflation risks, elevated bond yields, and geopolitical uncertainty. September highlighted the importance of looking beyond short-term market movements, as investors continued to assess the sustainability of AI-driven investment and the outlook for interest rates.

Looking ahead, we are monitoring inflation trends, central bank policy, labour market conditions, and the sustainability of corporate earnings growth. While continued investment in artificial intelligence and resilient corporate fundamentals remain supportive of equities, elevated valuations and tighter financial conditions could leave markets more vulnerable to economic disappointments. In this environment, we believe diversification and disciplined risk management remain essential.

We maintain a neutral allocation to equities and fixed income across our portfolios, reflecting a balanced assessment of the opportunities and risks facing markets. Within equities, we continue to emphasize high-quality businesses with durable earnings, strong balance sheets, and sustainable competitive advantages, while maintaining exposure to long-term growth opportunities. In fixed income, we value the diversification and income potential bonds provide, while remaining attentive to interest-rate sensitivity and credit quality as the economic outlook evolves.

Pharus Resources Spotlight

Retirement Readiness: RRIF Timing, Withdrawals and Tax Planning

When it comes to retirement, knowing how much you have saved is only part of the equation. Understanding when to convert your RRSP to a RRIF, how much to withdraw and the tax implications can make a meaningful difference to your retirement income and long-term financial plan.

In this article, Derek Kohalmi of Pharus Wealth Advisory Group explores several important considerations, including:

·RRIF timing: Why converting at age 71 isn’t necessarily the best strategy for everyone.

·Minimum withdrawals: How required withdrawals work and their impact on taxable income.

·Tax-efficient planning: How coordinating withdrawals with CPP, OAS and other income sources can help manage taxes.

·Spousal income splitting: How RRIF income may create opportunities to reduce a household’s overall tax burden.

Read the full article on our website for a closer look at these considerations and how thoughtful retirement income planning can help you make the most of your savings.

Click here to read the full article.

CIBC Smart Advice Feature

CIBC Smart Advice: Is Your Tax Strategy Saving You Money?

Introduction

Effective tax planning goes beyond filing an annual tax return. In its latest Smart Advice feature, CIBC explores how strategic financial decisions can help Canadians reduce their tax burden, preserve more of their investment returns, and build wealth more efficiently. From choosing the right registered accounts to charitable giving and retirement income planning, the feature highlights opportunities to make tax efficiency an integral part of a long-term financial plan.

Key Points

• Understand your marginal tax rate: Your current and anticipated future tax brackets can influence decisions about saving, investing, and withdrawing retirement income. Choosing between an RRSP and TFSA, for example, should reflect your current tax rate and expected tax rate in retirement.

• Make the most of your investment accounts: Tax-efficient investing involves more than investment selection. Understanding the different tax treatment of interest income, dividends, and capital gains can help improve after-tax returns in non-registered accounts.

• Consider retirement income splitting: Eligible couples may be able to split certain pension income, including qualifying RRIF withdrawals after age 65, to reduce household taxes and potentially limit Old Age Security (OAS) clawbacks.

• Plan intergenerational wealth transfers: Gifting money to adult children or grandchildren can help families manage wealth more efficiently. Recipients may be able to use the funds to pay down debt, contribute to registered accounts, or save toward a first home, potentially reducing the family’s overall tax burden.

• Explore tax-efficient charitable giving: Donating publicly traded securities that have appreciated in value can provide a charitable donation receipt while generally eliminating capital gains tax on the donated securities. Planning the timing of charitable gifts can also help ensure available donation tax credits are used effectively.

• Take advantage of homeownership and business planning opportunities: First Home Savings Accounts (FHSAs) offer eligible first-time homebuyers tax-deductible contributions and tax-free qualifying withdrawals. Business owners should also seek professional advice well in advance of a sale or succession to evaluate potential tax-saving strategies.

Key Takeaways

• Focus on after-tax returns: The amount you keep after taxes matters just as much as the investment return you earn.

• Coordinate your financial decisions: Investment accounts, retirement withdrawals, charitable giving, and wealth transfers should be considered together rather than in isolation.

• Plan ahead: Many tax-saving opportunities depend on timing and eligibility, making proactive planning more effective than last-minute decisions.

• Review your strategy regularly: Changes in income, family circumstances, investment gains, and retirement plans can create new opportunities to improve tax efficiency.

The bottom line: A well-structured tax strategy can help you retain more of your wealth, improve long-term financial outcomes, and make more of the assets you have worked hard to build.

Source: CIBC Smart Advice — Is Your Tax Strategy Saving You Money?

Editorial note: The strategies discussed are subject to individual circumstances and applicable tax rules. Readers should consult their financial advisor and tax professional to determine which opportunities are appropriate for their situation.

Financial Planning Feature

Cross-Border Estate Planning: Are Your Documents Up to Date?

Introduction

For Canadians who own U.S. property, hold American investment or retirement accounts, or have financial ties across the border, estate planning can be more complicated than simply having a will. Differences between Canadian and U.S. laws can affect how assets are transferred, who can administer an estate, and whether additional tax or legal requirements apply. Reviewing your estate planning documents regularly can help prevent unnecessary complications and ensure your wishes are carried out efficiently.

Key Points

1. Your will may not cover every asset

Certain U.S. retirement accounts, including IRAs and 401(k)s, generally pass according to their beneficiary designations rather than the instructions in your will. Outdated designations can result in assets being distributed differently than intended. Major life events, such as marriage, divorce, or the death of a beneficiary, should prompt a review of all account designations.

2. Review your executor and trustee appointments

An executor named in a Canadian will may face additional legal or administrative requirements when dealing with U.S. assets. Depending on the state and the assets involved, a separate probate process or additional documentation may be required. It is important to confirm that your chosen executor can effectively manage your estate across jurisdictions.

3. Consider whether you need a U.S. will

Canadians with U.S. real estate or other significant American assets may benefit from having separate Canadian and U.S. wills. However, two wills must be carefully coordinated to avoid conflicts or unintentionally revoking provisions in the other document. The appropriate approach depends on your assets, province of residence, and the state where your U.S. property is located.

4. Confirm your Powers of Attorney and healthcare directives

Canadian Powers of Attorney and healthcare directives may not be readily accepted by U.S. financial institutions, healthcare providers, or other organizations. Canadians who spend significant time in the United States should consider whether additional documents are needed to ensure trusted individuals can make financial and medical decisions if they become incapacitated.

5. Understand how U.S. property is owned

The way U.S. real estate is titled can affect how it transfers upon death and whether probate is required. Adding a family member to a property title or transferring ownership to a trust may have unintended tax and legal consequences in both countries. Any changes to ownership should be reviewed with qualified cross-border professionals.

6. Be aware of potential U.S. estate-tax exposure

Canadian residents who are not U.S. citizens may still face U.S. estate-tax considerations when they own certain U.S.-situated assets, including real estate. The Canada-U.S. Tax Treaty may provide relief depending on the circumstances, but filing obligations can still arise. Estate tax, probate, and other administrative requirements are separate considerations and should be reviewed individually.

7. Revisit your plan when circumstances change

Retirement, marriage, divorce, an inheritance, the purchase of U.S. property, or a change in the residence of an executor or beneficiary can all affect an estate plan. Regular reviews help ensure your documents reflect your current circumstances and continue to work together as intended.

Key Takeaways

• Look beyond your will: Review beneficiary designations, Powers of Attorney, healthcare directives, and executor appointments alongside your will.

• Coordinate both jurisdictions: Canadian and U.S. estate documents should work together to avoid conflicting instructions and unnecessary administrative delays.

• Understand the tax implications: U.S. property and investments can create additional tax and filing considerations, even for Canadians who live exclusively in Canada.

• Review ownership structures before making changes: Adding a family member to a property title or transferring assets to a trust can have unintended consequences.

• Seek professional guidance: A coordinated review with qualified Canadian and U.S. legal and tax professionals can help identify potential issues before they arise.

The Bottom Line

Cross-border estate planning is about more than having the right documents in place. It is about ensuring your wills, beneficiary designations, decision-makers, and asset ownership structures work together across jurisdictions. A proactive review can help protect your wealth, simplify estate administration, and provide greater peace of mind for you and your family.

Source: Click here to access the full Article.

Financial Solutions Feature

Investing on Margin: Understanding the Opportunities and Risks

Introduction

For investors looking to build wealth over the long term, investing on margin can provide an additional source of capital to pursue investment opportunities. By borrowing against eligible investment assets, investors can increase their market exposure without immediately selling existing holdings. However, leverage magnifies both gains and losses, making it important to understand the costs, risks, and suitability of this strategy before proceeding.

How Does Investing on Margin Work?

A margin account allows investors to borrow money from their investment dealer, using eligible securities in their portfolio as collateral. The borrowed funds can then be used to purchase additional investments, increasing the portfolio’s overall market exposure.

For example, an investor with $100,000 in eligible investments may borrow an additional $50,000 to invest, creating a portfolio with $150,000 in market exposure. If the investments appreciate, the investor benefits from the growth on the larger portfolio. However, if markets decline, losses are also magnified, while interest continues to accrue on the borrowed funds.

The amount an investor can borrow depends on the securities held, the dealer’s margin requirements, and the account’s available equity. Interest is charged on the outstanding loan balance and reduces the strategy’s overall return.

Potential Benefits of Investing on Margin

1. Increased Investment Exposure

Borrowing to invest allows investors to increase their exposure to financial markets without having to contribute the entire investment amount from their own capital. When used prudently, this can enhance long-term wealth accumulation if investment returns exceed borrowing costs.

2. Maintaining Existing Investments

Margin can provide access to additional investment capital without requiring investors to sell existing holdings. This may be beneficial when an investor wishes to maintain a long-term investment strategy while taking advantage of additional opportunities.

3. Potential Tax Advantages

For Canadian investors, interest on money borrowed to earn income from investments may be tax-deductible in certain circumstances. Generally, the borrowed funds must be used for an eligible income-earning purpose, and other requirements must be satisfied. The deductibility of interest depends on the specific investments, how the borrowed funds are used, and the investor’s circumstances. Investors should consult a qualified tax professional to confirm eligibility.

4. Greater Flexibility in Financial Planning

For investors with stable income, substantial assets, and a long investment horizon, margin may provide additional flexibility in managing their investment capital. However, borrowing should complement a comprehensive financial plan rather than replace appropriate savings, diversification, or liquidity reserves.

Understanding the Risks

1. Magnified Investment Losses

Leverage amplifies losses as well as gains. A market decline can erode an investor’s equity more quickly than it would in an unleveraged portfolio. Investors remain responsible for repaying the borrowed funds and accrued interest, even if their investments decline significantly in value.

2. Interest Costs

Borrowing costs directly affect investment returns. If portfolio returns fall below the interest rate on the margin loan, the strategy can generate a negative net return. Interest rates may also change over time, increasing the cost of borrowing.

3. Margin Calls and Forced Selling

If the value of the portfolio declines or the dealer changes its margin requirements, an investor may be required to deposit additional cash or securities. If sufficient collateral is not available, the dealer may sell investments to reduce the outstanding loan. These sales can occur at unfavorable prices and may crystallize losses.

4. Greater Financial Pressure During Market Volatility

Investment losses can coincide with rising borrowing costs or changes in personal circumstances, such as reduced income or unexpected expenses. Investors who rely on their portfolios to support their lifestyle may be particularly vulnerable if they need to access capital during a market downturn.

5. Not Suitable for Every Investor

Margin investing is generally more appropriate for investors who have a high tolerance for risk, stable financial resources, sufficient liquidity outside their investment portfolio, and the capacity to withstand substantial market declines. It is not a substitute for an emergency fund or a strategy for investors who may need their capital in the short term.

Who Might Consider Investing on Margin?

Margin investing may warrant consideration for investors who:

• Have a long-term investment horizon and understand the risks associated with leverage.

• Maintain a diversified portfolio and have sufficient financial resources to withstand market volatility.

• Have stable income and adequate liquidity to meet interest payments or potential margin calls.

• Understand the borrowing costs and the conditions under which investment-loan interest may be tax-deductible.

• Have reviewed the strategy with their financial advisor as part of a broader wealth management plan.

Conversely, investors with limited liquidity, high existing debt, a low tolerance for losses, or near-term spending needs should exercise particular caution.

Key Takeaways

• Leverage increases exposure: Borrowing allows investors to increase their market exposure, but it magnifies both gains and losses.

• Borrowing costs matter: Investment returns must be evaluated after interest expenses and any applicable taxes.

• Tax deductibility is conditional: Interest may be deductible when borrowed funds are used for an eligible income-earning purpose, subject to CRA requirements.

• Risk management is essential: Investors must be prepared for market declines, changing margin requirements, and potential margin calls.

• Suitability comes first: Margin should only be considered when it aligns with an investor’s financial circumstances, objectives, and risk tolerance.

The Bottom Line

Investing on margin can be a useful tool for certain investors, but it introduces additional financial obligations and risks that should not be underestimated. The decision to borrow should be based on a clear understanding of the potential benefits, borrowing costs, and downside scenarios. As with any investment strategy, a disciplined approach and careful planning are essential.

Your 2026 Year-End Financial Planning Checklist

Introduction

As the end of 2026 approaches, now is an ideal time to review your financial plan and identify opportunities to improve your tax position, strengthen your investment strategy, and ensure your estate plans remain up to date. Decisions made before December 31 can have implications for your taxes, retirement savings, charitable giving, and long-term wealth.

While not every strategy will apply to every investor, a proactive review can help identify opportunities and avoid last-minute decisions. From tax-loss selling and registered account contributions to corporate planning and cross-border considerations, the following checklist highlights key areas worth discussing with your financial advisor before year-end.

Your Year-End Financial Planning Checklist

1. Tax Planning and Investment Strategies

☐Review realized capital gains and losses. If you realized investment gains during the year, consider whether realizing capital losses could help offset taxable capital gains. Eligible net capital losses can generally be carried back three years or forward indefinitely, subject to applicable rules.

☐Consider tax-loss selling before year-end. Selling investments with unrealized losses may help offset capital gains, but timing and settlement requirements matter. Be mindful of the superficial loss rules, which can deny a loss if you or an affiliated person reacquire the same or identical property within the applicable period.

☐Review your portfolio’s asset location. Consider whether the placement of investments across registered and non-registered accounts remains appropriate from a tax-efficiency perspective.

☐Review upcoming income and tax obligations. Significant bonuses, capital gains, business income, or other taxable events may create opportunities for proactive tax planning.

☐Assess whether additional RRSP contributions make sense. Contributions may reduce taxable income, depending on your available contribution room and individual circumstances. Remember that the deadline for contributions deductible against your 2026 income generally falls in early 2027.

2. Charitable Giving

☐Review your charitable giving plans. Identify the causes you want to support and consider whether cash donations or gifts of eligible publicly traded securities best align with your objectives.

☐Consider donating appreciated securities. Donating eligible publicly traded securities directly to a qualified donee can provide a donation tax credit while generally eliminating the capital gains inclusion on the donated securities.

☐Explore a donor-advised fund. For individuals planning significant charitable gifts, a donor-advised fund may allow a contribution to be made now, with grants to eligible charities recommended over time.

☐Allow sufficient time for securities transfers. In-kind donations require coordination between financial institutions and the receiving charity. Start early and confirm that the gift is completed by the applicable deadline.

☐Review charitable intentions in your estate plan. If you intend to leave a charitable gift through your estate, confirm that your will and other relevant documents reflect your wishes.

3. Registered Accounts and Retirement Planning

☐Review your TFSA strategy. Confirm your available contribution room before making additional contributions. Remember that withdrawals generally restore contribution room on January 1 of the following calendar year, not immediately.

☐Consider your FHSA opportunities. Eligible first-time homebuyers should review their available First Home Savings Account contribution room and whether opening or contributing to an FHSA aligns with their plans.

☐Review RESP withdrawals. If you have children attending post-secondary school, consider whether education assistance payments should be coordinated with their income and available tax credits.

☐Review RDSP contributions and grants. Eligible individuals and families should assess available contribution room and potential government grants or bonds.

☐Review retirement income and income-splitting opportunities. Depending on your circumstances, pension income splitting, prescribed-rate loans, and spousal RRSP contributions may warrant consideration.

☐Plan for RRSP maturity at age 71. If you turn 71 in 2026, you generally must mature your RRSP by December 31, 2026. Consider whether a RRIF, eligible annuity, or another permitted option best suits your retirement income needs.

4. Business Owners and Incorporated Professionals

☐Review your salary and dividend strategy. The right mix depends on your personal and corporate tax positions, cash-flow needs, CPP considerations, and RRSP contribution room.

☐Consider corporate charitable donations. If your corporation plans to make a charitable gift, confirm that it is completed within the appropriate fiscal year and that the intended tax treatment is understood.

☐Review corporate investment income. Interest, dividends, and realized capital gains within a corporation can have different tax implications. Consider how your investment strategy aligns with your broader corporate and personal financial plans.

☐Review upcoming business transactions. A planned business sale, succession, or significant corporate distribution may create tax-planning opportunities that require considerable advance preparation.

☐Assess upcoming tax changes. Review any enacted or proposed tax measures that could affect your compensation strategy, corporate investments, or retirement plans. Confirm the status and effective dates of relevant changes before making decisions.

5. U.S. Assets and Cross-Border Planning

☐Update your net-worth statement. Include Canadian and foreign assets, paying particular attention to U.S.-situated property and investments.

☐Review U.S. real estate holdings. U.S. vacation properties and other real estate can create additional tax, estate, and filing considerations for Canadian residents.

☐Assess direct U.S. investment exposure. Certain U.S.-situated assets, including directly held U.S. securities, may be relevant when evaluating potential U.S. estate-tax exposure.

☐Review foreign asset reporting requirements. Determine whether you have a T1135 foreign income verification statement filing obligation. Generally, specified foreign property with a total cost amount exceeding $100,000 at any time during the year can trigger reporting requirements, subject to applicable exceptions.

☐Review cross-border beneficiaries and estate documents. Changes in the citizenship or residence of beneficiaries, or the acquisition of U.S. assets, may affect estate planning and administration.

☐Organize documentation for U.S. property sales. Retain closing statements, purchase records, and applicable withholding documentation to support Canadian and U.S. tax reporting.

☐Consult cross-border tax and legal professionals. Where U.S. assets or family connections are involved, coordinated advice can help identify issues that may not be apparent from a Canadian-only perspective.

6. Estate Planning and Family Wealth

☐Review your will and Powers of Attorney. Confirm that your documents reflect your current wishes and family circumstances.

☐Verify beneficiary designations. Review designations on registered accounts, insurance policies, and other applicable assets to ensure they remain appropriate.

☐Revisit your insurance coverage. Changes in income, family circumstances, liabilities, or business ownership may warrant a review of your life, disability, and other insurance needs.

☐Consider intergenerational wealth transfers. If you intend to help children or other family members financially, consider how gifts, loans, and other transfers fit within your broader financial and estate plans.

☐Review liquidity needs. Ensure sufficient funds are available to cover taxes, expenses, and other obligations without requiring the untimely sale of investments.

Important Year-End Timing Considerations

Some planning strategies require more time than others. As a general guide:

• During the fall: Begin discussions about charitable gifts, tax-loss selling, corporate compensation, and cross-border estate planning.

• Before the final trading days of December: Confirm transaction and settlement deadlines with your financial advisor if you plan to realize capital losses or donate securities.

• Before December 31: Complete eligible charitable gifts and other transactions that must occur within the 2026 calendar year.

• Before your corporate fiscal year-end: Coordinate corporate donations, distributions, and other decisions that depend on your corporation’s year-end.

• Early in 2027: Review RRSP contribution deadlines, tax-filing requirements, and any planning opportunities that remain available.

Specific deadlines and tax consequences depend on the transaction, account type, and individual circumstances. Confirm the applicable requirements before proceeding.

The Bottom Line

Year-end planning is an opportunity to ensure your financial, investment, tax, and estate strategies continue to work together. Not every item on this checklist will apply to every household, but identifying relevant opportunities early can provide greater flexibility and help avoid unnecessary surprises.

To stay up to date on market events, news, and reports, follow Pharus Wealth Advisory Group on our social media Pages. For Financial Literacy and Planning, visit Pharus Resources, where we upload timely articles on Financial Planning and Financial Literacy Resources.

Click here to visit Pharus Resources.

Pharus Wealth Advisory Group

The Beacon to your Financial Journey

1623 Avenue Road, Toronto ON M5M 3X8

Phone: 416 861-2460

Email: mailbox.pharuswealth@cibc.com

Website: www.pharuswealth.ca