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Financial companies rarely star in those surreys where people are asked to rate the corporations they trust most. Tim Hortons topped a recent survey of Canadians, Band-Aid led in the United States, Toyota in Japan, Google in India and Samsung in South Korea.

A pair of payment apps, PayPal and Alipay, were tops in German and China, respectively. And Visa did take sixth spot in the U.S. rankings. But overall, banks and investment companies are not in the game.

People don’t get emotionally attached to their bank or investment company the way they do with the coffee and doughnut outlets they see all the time, or the phones and cars they use all the time. But we can still try to highlight the financial companies the people trust most.

That’s the point of the latest Carrick on Money survey. I want you to tell me the one financial firm you trust most. This company can be in any aspect of finance – banking, financial planning, budgeting or investing apps, portfolio management, mutual funds, exchange traded funds, or other products. The point is to find out which companies do the best job of making customers they feel they can trust them.

I’ll report back on the findings in an upcoming newsletter. Stay tuned.


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Rob’s personal finance reading list

A reality check for the millennial lifestyle

A writer for The Atlantic uses a $50 Uber ride to illustrate how low prices for ride sharing and food delivery are over for now.

Housing: A buyer’s market?

A look at how rising interest rates have cooled the frenzy in housing and given buyers more leverage than they’ve had in years. Now for a reality check on the wonders of the smart home, where you control functions like the lights and temperature with apps for smartphones and other devices.

Don’t count the 60-40 portfolio out

A U.S. investing blogger reviews the worst years for portfolios with a breakdown of 60 per cent in stocks and 40 per cent in bonds – the standards balanced portfolio, in other words. Bonds have been hit as badly as stocks this year, prompting some investors to wonder if the 60-40 mix is no longer relevant. Turns out the balanced approach has seen worse, and bounced back.

Razor logic

Shaving foam…gel…shaving cream – I buy whatever’s cheapest and have never thought twice about it. But here’s some info saying that shaving cream, potentially the most expensive option, is best. Me, I’m right back to buying whatever’s cheapest.


Ask Rob

Q: Would it be logical for the Bank of Canada’s overnight rate to be adjusted periodically to equal the inflation rate?

A: The overnight rate sets the trend for consumer borrowing. It’s now at 1.50 per cent, up from 0.25 at the start of the year. The overnight rate has been rising to cool inflation, which hit 6.8 per cent in April and could go higher. Matching the overnight rate to the inflation rate would be excessively harsh medicine for the economy. Borrowers would be crushed – both individuals and businesses. The Bank of Canada’s goal right now is to raise rates to deal with inflation while keeping the economy from slipping into recession. Even the relatively mild rate increases contemplated for 2022 make this a challenging task.

Do you have a question for me? Send it my way. Sorry, I can’t answer everyone personally. Questions and answers are edited for length and clarity.


Today’s financial tool

Best banks for international students, as chosen by the Savvy New Canadians blog.


The Money-Free Zone

An appreciation from Pitchfork of a great but overlooked musician, Terry Callier. A contemporary of Curtis Mayfield, Callier combines folk, jazz and soul in a way that ranges from dreamy atmospherics to songs that to me seem monumentally catchy. I previously mentioned my favourite Callier song, Ordinary Joe. The album it appeared on is the one featured in the Pitchfork appreciation, Occasional Rain.


Watch this

Salman Ahmed, chief investment officer at Steadyhand Investment Funds, explains why Elon Musk is wrong in calling socially responsible investing – known as ESG, for environmental, social and governance factors –a scam.


Who I’m following on Twitter

Dan Gardiner, a voice of reason and logic on finance and other topics of interest.


What I’ve been writing about

More Rob Carrick and money coverage

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Even more coverage from Rob Carrick:

Are you reading this newsletter on the web or did someone forward the e-mail version to you? If so, you can sign up for Carrick on Money here.