WINNIPEG, Oct. 10 /CNW/ - Canadians don't have to "wait until next year"
to open a new Tax-Free Savings Account (TFSA) with Investors Group. Beginning
immediately, Investors Group clients will be able to set up Tax-Free Savings
Accounts with contributions to the account starting on January 2nd.
"The growth of a TFSA contribution accumulates on a tax-free basis and
withdrawals from the TFSA are also tax-free," said John Wiltshire, Senior
Vice-President Product and Financial Planning at Investors Group. "Any time
lost in getting the investment into the TFSA is actually the loss of potential
A variety of investments will be eligible for investment in a Tax-Free
Savings Account at Investors Group including:
- Mutual funds
- Money market funds
- Guaranteed Investment Certificates (GICs) and Term Certain Annuities
- Investors Group iProfile portfolios.
Investors Group will offer Tax-Free Savings Accounts on both an
individual and group basis.
The Tax-Free Savings Account is also valuable as a highly flexible
addition to a personal financial plan according to Debbie Ammeter,
Vice-President of Advanced Financial Planning at Investors Group.
"The TFSA provides Canadians with a method of saving for everything from
retirement and their childrens' education to a rainy day fund for short-term
needs," Ammeter said. "With the ability to save for your goals and withdraw
from the TFSA on a tax-free basis - the TFSA makes a very useful addition to
every Canadian's financial plan."
Investors Group, founded in 1926, is a national leader in delivering
personalized financial solutions to Canadians through a network of
approximately 4,400 Consultants located throughout Canada. In addition to an
exclusive family of mutual funds and other investment vehicles, Investors
Group offers a wide range of insurance, securities, mortgage and other
financial services. Investors Group is a member of the IGM Financial Inc.
(TSX: IGM) group of companies. IGM Financial is one of Canada's premier
financial services companies with over $118 billion in total assets under
management as of September 30, 2008.
For further information:
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