Hello!

How Homebuyers Can Save with Life Insurance Instead of Mortgage Insurance

While some of our clients continue to carry a mortgage, many also have children or grandchildren who are purchasing a home, renewing a mortgage or planning for homeownership.

One financial consideration that is sometimes overlooked is how best to protect a mortgage, and the family, if the unexpected happens. Individually owned life insurance and mortgage insurance offered through a lender can differ in important ways, including coverage, ownership, beneficiaries and cost.

Our partners at Empire Life recently published an article comparing how Individually owned life insurance is different (and better) than mortgage insurance offered through a lender. It can differ in important ways, including coverage, ownership, beneficiaries and cost.

If you or a family member would like to better understand the differences between the available options, our team would be pleased to provide information and, where appropriate, a personalized insurance illustration.

How to Avoid these 4 Common TFSA Mistakes

Tax-Free Savings Accounts, or TFSAs, can be a valuable part of a financial plan, whether you are saving for shorter-term needs, building long-term investments or managing assets in retirement.

However, TFSA contribution and withdrawal rules can sometimes lead to unintended mistakes. Understanding your available contribution room, the timing of withdrawals and recontributions, and how your TFSA fits within your broader financial strategy can help you make more effective use of this flexible account.

Sun Life highlights four common TFSA mistakes and provides practical information to help Canadians better understand the rules.

If you have questions about how a TFSA may fit within your overall savings, investment or retirement strategy, please speak with your Financial Advisor.

How to Help Children Understand Death

Talking with children about the death of a loved one can be difficult, particularly when families are coping with their own grief. Children may have questions or process loss differently depending on their age and understanding, making these conversations especially challenging for parents and family members.

Beneva has shared a thoughtful article offering guidance for families navigating these difficult conversations.

We hope you find this resource helpful and worth sharing with family members who may benefit from it.

Your Questions Answered

Q: My portfolio has done very well over the last three and a half years. In particular, my U.S. investments have performed exceptionally well. As a long-term investor, I understand the importance of maintaining a long-term perspective. That said, I am getting older, and my investment time horizon may not be quite as long as it once was. I am also concerned about geopolitical conflicts, high global debt, trade uncertainty and inflation. Given these concerns, what should I consider doing?

A: Market uncertainty can understandably cause investors to question whether they should make changes to their portfolios. However, market headlines alone are not necessarily a reason to change a well-constructed investment strategy.

A more important question is whether your own circumstances have changed.

As we move through different stages of life, our financial goals, income needs and investment time horizons can change as well. Retirement, health considerations, the loss of a spouse, an inheritance, changes in family circumstances or simply getting older may all be appropriate reasons to revisit your financial and investment strategy.

Consider asking yourself:

• Have my financial goals changed?

• Has my investment time horizon become shorter?

• Has my comfort with market fluctuations changed?

• Will I need to make larger withdrawals from my portfolio in the coming years?

• Do I have sufficient accessible funds for upcoming expenses and unexpected needs?

• Does my current portfolio still reflect my intended balance between growth and stability?

If your answers have not materially changed, short-term market uncertainty may not require a change to your long-term investment plan. Making significant investment decisions in response to fear or market headlines can sometimes take investors away from the strategy originally designed to meet their goals.

That said, strong performance in one area of a portfolio can cause its asset allocation to shift over time. For example, if your U.S. equity investments have grown substantially, they may now represent a larger portion of your portfolio than originally intended. A portfolio review can help determine whether your investments remain appropriately diversified and whether rebalancing may be warranted.

For retirees and those approaching retirement, it is also important to consider liquidity and upcoming income needs. Maintaining appropriate accessible funds for planned withdrawals, major expenses and unexpected needs can help reduce the likelihood of having to sell investments at an inconvenient time. The appropriate amount will depend on your individual circumstances, retirement income sources and financial plan, not simply on predictions about where markets may be headed next.

Market headlines can be a good reason to review your plan, but not necessarily a reason to change it.

If it has been some time since your last portfolio or retirement income review, or if your circumstances have recently changed, we encourage you to speak with your Financial Advisor. Together, we can review your goals, income needs, time horizon, risk tolerance and investment strategy to help ensure your financial plan continues to reflect your individual circumstances.

Travel Plans? Don’t Forget Travel Insurance!

Heading out on a summer getaway? Travel insurance is a must, especially when the unexpected happens.  We offer travel insurance coverage through a selection of trusted providers, including Allianz Global Assistance, TuGo, and Manulife Insurance, giving you access to competitive options tailored to your travel needs.

• Already have health and dental coverage? You might have some travel protection built in but it may need a top-up.

• Don’t have a plan? We can help you find the right one.

  Travel | Direct Purchase

  Why Buy Travel Medical

Insurance | Global Pacific

Travel Insurance Information:

Travel insurance availability and purchase options may vary by province due to regulatory requirements. As a result, some direct purchase links may not be accessible in all regions.

Global Pacific Financial Services (“Global Pacific”) is licensed in multiple provinces across Canada and can assist clients with general information and guidance. In British Columbia, travel insurance solutions may also be provided through our affiliated firm, Macnaughton & Ward Financial Services (MWFS), which is licensed in BC.

If you have upcoming travel plans or would like assistance reviewing coverage options, please contact our office. We will ensure you are supported by the appropriately licensed team.

Please note that our office will close at 12:00 noon on Wednesday, August 12, 2026, for our Staff Summer Event.

Our team will be back in the office and available during regular business hours on Thursday, August 13^th.

We appreciate your understanding as our team takes a little time together to enjoy the summer, and we look forward to assisting you upon our return.

Our Commitment to You

For more than 50 years, Global Pacific Financial Services has been committed to helping individuals and families build, protect and preserve their financial well-being.

As we look to the future, that commitment remains unchanged. We continue to invest in the development of our team and the next generation of advisors while maintaining the personalized service, professional guidance and long-term relationships our clients have trusted for decades.

Our mission is simple, to provide thoughtful advice and dependable support through every stage of life. Whether you're planning for retirement, reviewing your investments, protecting your family, preparing your taxes or updating your estate plans, we're here to help you make informed financial decisions with confidence.

If there is a financial planning topic you would like us to address in a future newsletter, we'd be pleased to hear from you.

Global Pacific Financial Services Ltd.

Building and preserving wealth together.

Established 1975

Visiting Us? Reserve Your Parking in Advance

Planning to drop by our office? We’re happy to offer complimentary parking for your visit - no need to pay at the meter.

Simply call us at (604) 581-2134 before you leave home to reserve your space. Provide your license plate number and we’ll register it for the duration of your appointment.

It’s quick, easy and ensures a stress-free visit. We look forward to seeing you!