Home Capital’s troubles have had a beneficial effect on the complacency of Canadian investors.
Rather than taking safety for granted, they’re asking smart questions about deposit insurance for their guaranteed investment certificates and protection for their other investments if a brokerage firm goes under. Just recently, a reader asked about the $1.3-million in accounts he manages at one big bank’s online brokerage arm. “Would it be more prudent to split all accounts and spread them across banks?” he asked. “Or should I keep on trusting [my bank]? Though, the splitting part bugs me, as it will be harder to manage.”Report Typo/Error