Registered investments are registered with the federal government for tax purposes. They must be transferred instead of withdrawn to avoid penalties.
Non-registered investments are not registered with the federal government and the earned income is taxable every year.
Investors, who prefer flexibility in their investments, save for withdrawal purposes (vacations, short-term goals) or those who have reached the contribution limit for their Registered Retirement Savings Plan (RRSP) or TFSA and need to invest further should have Non-Registered Investments.
There are several benefits:
I called Zahid after hearing his tips on radio and just felt that I could trust him. I arranged a meeting in his office. He listened to my needs very carefully and provided me the life and critical illness insurance for my family future. I was very impressed with his professionalism and would refer him to my family and friends.
I know Zahid for the last 4 years, as he has handled my complex and unique insurance needs.
During one of the recent conversations , when he mentioned that he also handles mortgages, (considering his excellent support and understanding of my unique situation and needs in the past) I immediately requested him to help me get a good mortgage so that I can consolidate my first and second mortgage and save on monthly mortgage payment. As during the past year, I've been to many mortgage brokers and nobody could offer me something to the best of my satisfaction.( Either , the interest rates were high, or LTV was low ) . But to my pleasant surprise, Zahid and his associate Bindu, offered me exactly what I was looking for considering my unique situation, with minimum of paperwork (the interest rate was very competitive and the LTV was also good). And all the closing process was finished in very less amount of time and they supported me during the whole process. I must say Zahid is very knowledgeable, professional and good human being, and so his associate Bindu, they are excellent team. I am looking forward to work with them so that my future financial needs can be taken care of.
I take this opportunity to thank you for helping me in my financial needs and I was really " Impressed" with your professionalism and the way you gave me your advice. It's been 15 years since I came to this country and have met many " Financial Advisors" but didn't have that " Positive Attitude" you have and even though I had a " Bad Credit" and was very much worried that I am going to loose everything but with your expertise and guidance I came out of it as you helped me in getting the " Second Mortgage" with the lowest interest rate available in the market and guided me at every step of that process. Now I am having sleep without any " Nightmares" and you have promised me that you are going to help me in my financial decisions till the time you think I am stable enough and even after that stability you will still keep advising me with your expertise. For me you were a " Savior" and with your advice will definitely be successful. Once again I thank you very much for your help and advice and wish you all the best wishes and indeed I will refer my family and friends to your office in future for any " Financial Advise".
I had a great experience getting mortgage through Orooj Financial. Mr. Zahid Syed and his team were able to get me the best rate in the market. All the paper work was done electronically which made me possible to focus on my job. I am impressed with their services and convenience they offer to clients. I would highly recommend others to get in touch with them and feel the ease of getting mortgage.