News, planning insight, and forward thought on the economy, markets, and wealth management.
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Welcome to Toronto Under Construction, a residential real estate podcast hosted by Bullpen Consulting’s Ben Myers. This monthly podcast will dive into the nitty-gritty of Toronto Real Estate, with a specific focus on housing policy and economics. @BenMyers29
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Welcome Talked, hosted by Easton Allred. Made to get you thinking outside of the box, fired up, and inspired. Each week I will be interviewing athletes to bring out their success story. Guests will help us to find more Happiness, better health, and optimized performance. A bit about the host: I am a BYU XC runner that is passionate about learning and thinking outside the box. I am a published author and currently studying advertising. Battling a rare disorder called vascular compression synd ...
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Saturday, May 17th. About that one, big, beautiful bill.
33:54
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33:54This week, a 90-day U.S.-China trade deal truce boosted stock markets and eased recession fears, but small businesses remained pessimistic as shown by the NFIB index, while retail sales and industrial production data were mixed. Despite stable CPI and declining PPI, Walmart’s warning about potential price increases due to tariffs highlighted ongoin…
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Saturday, May 10th. A key meeting in Switzerland.
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33:54
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33:54The UK and US strengthen ties, but China's exports to the US have sharply declined. Could this weekend's Switzerland talks pave the way for a resolution? Meanwhile, the Federal Reserve holds interest rates steady, despite the President's frustration. Brian Jacobsen shares our Week-in-Review, and we continue Spring Cleaning with part two of our inve…
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Episode 85 - Toronto Under Construction with Danny Roth of Storeys, Ed Skira of Urban Toronto, and Garry Marr of CoStar
1:29:36
1:29:36
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1:29:36In Episode 85 of the Toronto Under Construction podcast, host Ben Myers is joined by three leading voices in real estate journalism: Danny Roth of Storeys, Ed Skira of Urban Toronto, and Garry Marr of CoStar. This episode takes a fascinating turn into the media world—tracking how real estate reporting has evolved over the last two decades, and how …
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GDP declined due to surging imports. Consumer Confidence hit COVID-era lows. ISM Manufacturing and new export orders dropped sharply. Dave Spano and Brian Jacobsen discuss these trends in the Week-in-Review. Our Spring-Cleaning theme focuses on pruning your investment portfolio, while Ask Annex addresses a bond-related question.…
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Saturday, April 26th. Survival of the fittest.
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33:49
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33:49Trump has stepped back from threats to remove Powell, with tariff discussions labeled “constructive” but lacking specifics. US-China relations remain uncertain, with unclear communication and next steps. Major macro data releases provide fresh insights into the economic outlook. Brian Jacobsen has our Week-in-Review. Hear how Annex Private Client m…
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Saturday, April 19th. A sprint before the stumble
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33:47Is Q2 GDP growth masking a Q3 slowdown? Dave Spano and Brian Jacobsen break it down in our Week-in-Review, exploring how early boosts could fade without trade policy changes. Curious about true financial planning? Mike Kirk reveals what it is—and what it isn’t. Plus, Ask Annex returns with practical tips on planning for a longer retirement.…
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Saturday, April 12th. So much for last Wednesday.
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31:55Market sensitivity to geopolitical developments and trade policies led to a wild week. Dave Spano and Brian Jacobsen present our Week-in-Review. Business owners know all too well that being asset rich, yet cash poor leads to challenges. Learn more how Annex Private Client is equipped to assist.By Annex Wealth Management
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Episode 84 - Toronto Under Construction with Adam Sheffer from Originate Developments, Ty Diamond from Diamond Kilmer and Pouyan Safapour from Devron Developments
1:27:26
1:27:26
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1:27:26In Episode 84 of the Toronto Under Construction podcast, host Ben Myers invites guests Adam Sheffer, Originate Developments, Ty Diamond of Diamond Kilmer, and Pouyan Safapour of Devron Developments, to navigate a series of real-world development hypotheticals. Through tough calls, creative thinking, and brutal honesty, the episode offers an inside …
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Saturday, April 5th. Policy: Bite the Bullet.
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33:40
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33:40Post Liberation Day, President Trump said, "The operation is over, the patient lived." For investors looking at their portfolios, it could have felt like an operation performed without anesthesia. Dave Spano and Brian Jacobsen present the Week-in-Review. Learn more about our series of Financial Literacy Month webinars and Ask Annex returns with a q…
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Saturday, March 29th. Policy: This may hurt a bit.
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34:03With "Liberation Day" coming up quickly, the market has been moving in anticipation of the pain. Dave Spano and Brian Jacobsen present our Week-in-Review. Deanne Phillips offers some behavioral finance tips and Ask Annex has suggestions for someone with various accounts spread across multiple advisors.…
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Episode 83 - Toronto Under Construction with Realtors Roy Bhandari and Brian Persaud
1:34:30
1:34:30
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1:34:30In Episode 83 of the Toronto Under Construction podcast, host Ben Myers is joined by Realtors Roy Bhandari and Brian Persaud for a deep dive into the evolution of the pre-construction investor market in the GTA. From the early days of platinum access to the shifting profiles of today’s condo buyers, this episode tackles misconceptions, market dynam…
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Saturday, March 22nd. The faint aroma of stagflation.
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33:44
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33:44The Fed is tapering QT. What's that signal to the markets? Dave Spano and Brian Jacobsen present our Week-in-Review. Also, what are Cash Balance Plans and why are they so powerful for the right company situation? Tom Parks from our Retirement Plan Services team outlines why auto enrollment in 401ks are leading to the slippery slope of employees usi…
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Saturday, March 15th. Growth: From Bump to Slump?
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33:34
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33:34Consumer and business sentiment jumped higher after the election, but lately....not so much. Brian Jacobsen presents our Week-in-Review. We focus on volatility this week: historically, psychologically, and via the lens of our recent Navigating the Market presentations.By Annex Wealth Management
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Episode 82 - Toronto Under Construction with Igor Dragovic from Concert Properties and Blair Scorgie of Scorgie Planning
1:35:14
1:35:14
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1:35:14In Episode 82 of the Toronto Under Construction podcast, host Ben Myers is joined by Igor Dragovic from Concert Properties and Blair Scorgie of Scorgie Planning. This episode dives into the complexities of urban planning, public engagement, housing research, and the latest policy shifts shaping the future of development in Toronto and beyond. *Spon…
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Saturday, March 8th. March. In like a lion.
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33:52
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33:52Week #7 for the Trump administration. Bumpy jobs data, shifting tariff policy, and volatile markets created a see-saw week. Dave Spano and Brian Jacobsen present our Week-in-Review. We'll also cover investing diversification and Ask Annex has a question about short selling.By Annex Wealth Management
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Saturday, March 1st. Consumer confidence drops.
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33:30Consumer confidence in February fell 7 points, the biggest drop since August 2021. Dave Spano and Brian Jacobsen present our Week-in-Review. Also, learn more about Passion Assets and how to handle them with a well-constructed estate plan.By Annex Wealth Management
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Saturday, February 22nd. Hitting the pause button.
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34:12Fed Minutes: The official line is that policy risks are balanced, but the subtext is inflation is more of a concern than labor market weakness. Dave Spano and Brian Jacobsen present our Week-in-Review. If you've got a family cabin/cottage/camp/hideaway, what is the best way to pass it to the next generation? High five for 401ks; participation has n…
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Episode 81 - Toronto Under Construction with Hugh Heron from Heathwood Homes & Heron Homes
1:07:43
1:07:43
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1:07:43In episode 81 of the Toronto Under Construction podcast, host Ben Myers is joined by homebuilding industry veteran Hugh Heron, founder of Heron Homes and Heathwood Homes. With decades of experience in residential development, Hugh shares insights on navigating market downturns, pioneering new housing concepts, and the challenges facing today’s home…
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Saturday, February 15th. Lots of tariff talk, but little action
33:46
33:46
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33:4625% steel and aluminum tariffs scheduled to begin March 12. Reciprocal tariffs in the mix, probably after April 1. Dave Spano and Brian Jacobsen present our Week-in-Review. Leaving a legacy? Amy Kiiskila from Annex Private Client covers inheritance planning.By Annex Wealth Management
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Saturday, February 8th. Not a trade war. Yet.
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33:53
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33:53Mexico and Canada tariffs on ice. 10% tariffs on China in effect. China retaliated, kind of. Dave Spano and Brian Jacobsen present our Week-in-Review. Learn more about the 'How to NOT ruin your kids with money ' event on the 20th.By Annex Wealth Management
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Saturday, February 1st. DeepSeek week. More questions than answers.
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33:56
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33:56The week was action-packed, starting with the DeepSeek freakout. Is the technology really that much more efficient? Did they somehow cheat? Regardless, the way forward is likely less about the chips and more about the apps and uses. Dave Spano and Brian Jacobsen present our Week-in-Review. We also cover the Great Baby Boom Wealth Transfer---and rec…
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Episode 80 - Toronto Under Construction with Bader Elkhatib from CentreCourt, Christopher Wein from Equiton, and Kevin Stark from Trinity Group
1:39:05
1:39:05
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1:39:05In Episode 80 of Toronto Under Construction, host Ben Myers is joined by Bader Elkhatib (CentreCourt), Christopher Wein (Equiton), and Kevin Stark (Trinity Group) for an in-depth discussion on the state of the GTA’s housing market. They explore new condo sales forecasts, investor sentiment, foreign investment, and rent projections in Canada’s evolv…
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Saturday, January 25th. Policy: Getting down to business.
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33:46
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33:46High priorities do not necessarily get passed quickly. Dave Spano and Brian Jacobsen present our Week-in-Review. Earnings season is underway---what are we seeing? Also, learn more about cash flow modeling and how it is a valuable tool for our financial planning team.By Annex Wealth Management
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Saturday, January 18th. Here come the earnings.
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34:00
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34:00S&P 500 earnings are expected to increase 11.7% y/y in Q4, which would represent strongest growth in three years. Brian Jacobsen presents our Week-in-Review. Also, what is 'Key Person Insurance' and why do even small companies need to consider it? Ask Annex looks at chasing returns and the viability of cryptocurrency.…
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Episode 79 - Toronto Under Construction's 2024 Market Analysis with Ben Myers
57:25
57:25
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57:25After a dynamic year in Toronto's real estate market, Ben Myers of Bullpen Consulting dives into key 2024 market statistics, including new construction sales, rental apartment trends, resale activity, and project completions. Ben offers expert insights on the investor and end-user markets, analyzes supply and demand dynamics, and shares his perspec…
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Saturday, January 11th. How 'bout that job number?
33:34
33:34
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33:34The latest jobs number blew past the estimate. Mirage or for real? Dave Spano and Brian Jacobsen present our Week-in-Review. Learn more about the power of Roth conversions and get a preview of Thursday's Women & Wealth presentation at our headquarters.By Annex Wealth Management
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Saturday, January 4th. Out with the old, in with the new.
33:39
33:39
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33:39A year of convergence or divergence? US earnings growth is likely end around 9% higher in 2024 than they were in 2023. Dave Spano and Brian Jacobsen present our Week-in-Review. Arabella Parins joins the show to discuss distribution planning, a key component of any financial plan.By Annex Wealth Management
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Dave Spano and Brian Jacobsen review 2024 and look ahead to 2025 planning and investing.By Annex Wealth Management
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Saturday, December 21st. The Grinch Returns.
33:51
33:51
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33:51When optimism is rising and market multiples are expanding, it just takes a little fear to take the veneer off a market rally. Dave Spano and Brian Jacobsen present our Week-in-Review. Also this week, what's a Finfluencer and should you listen to them?By Annex Wealth Management
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Episode 78 - Toronto Under Construction with Uzo Roussouw from Ballantry Homes; Edward Jegg from Altus & Frank Clayton from TMU
1:13:10
1:13:10
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1:13:10In Episode 78 of the Toronto Under Construction podcast, host Ben Myers is joined by Uzo Roussouw, Director of Land at Ballantry Homes; Edward Jegg, Research Manager at Altus; and Frank Clayton, Senior Research Fellow at Toronto Metropolitan University (TMU). Together, they explore historical and current housing trends, government policies, develop…
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Saturday, December 14th. Bracing for a trade war.
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33:54
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33:54Tit-for-tat: China is now probing Nvidia for anti-monopoly practices. Dave Spano and Brian Jacobsen present our Week-in-Review. We'll share a preview of Thursday’s 'Saving the Family Cottage' presentation. And with Yellowstone's season finale this weekend, we'll share some ideas that might have saved the Dutton family ranch.…
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Saturday, December 7th. An economic wrestling match?
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33:47
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33:47E-commerce booms with record sales; brick-and-mortar lags but reflects resilient consumer spending. And we keep seeing record market closes. Dave Spano and Brian Jacobsen present our Week-in-Review. What's Warren Buffett's philosophy on sharing details of estate plans? Amy Kiiskila, wealth strategist with Annex Private client, breaks it down.…
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Episode 77 - Toronto Under Construction with David Klugsberg from LA Ads, Linda O’Connor from Ryan Design and Norm Li from Norm Li
1:24:18
1:24:18
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1:24:18In Episode 77 of the Toronto Under Construction podcast, Ben welcomes David Klugsberg from LA Ads, Linda O’Connor from Ryan Design and Norm Li from Norm Li to explore branding, design, and marketing in Toronto’s real estate market. From adapting strategies for rentals vs. condos to leveraging AI in campaigns, the panel shares insights on tenant ret…
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Saturday, November 30th. Know what you own.
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33:48
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33:48A decent week of economic data. Brian Jacobsen presents our Week-in-Review. Learn the 6 benefits of trusts and the steps to selling a business. Dave Spano and Brian discuss a tragic and expensive mistake someone made by skipping due diligence.By Annex Wealth Management
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Episode 76 - Toronto Under Construction with Noah Rechtsman of Hullmark, Doug Hochglaube of Trolleybus Urban Development, and Francesco Margani of Franc & Co
1:40:35
1:40:35
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1:40:35In Episode 76 of Toronto Under Construction, Ben is joined by Noah Rechtsman, Doug Hochglaube, and Francesco (Franc) Margani to explore the intricacies of Toronto's real estate market. From land valuation and distressed properties to rezoning challenges and innovative financing solutions, this episode offers an in-depth look at the factors shaping …
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Saturday, November 23rd. Trading one uncertainty for another
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33:55Election uncertainty has been replaced with policy uncertainty. Dave Spano and Brian Jacobsen present our Week-in-Review. What is the value of an advisor? Brandon Lehman, director of Annex Private Client explains.By Annex Wealth Management
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Saturday, November 16th. Policy coming into focus.
33:34
33:34
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33:34President-elect Trump is building out his cabinet while making day-one priorities clearer. Dave Spano and Brian Jacobsen present our Week-in-Review. As earnings season winds down, what are we seeing and are there any trends?By Annex Wealth Management
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Episode 75 - Toronto Under Construction with Urbanist Richard Florida, Author of the Creative Class
1:26:58
1:26:58
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1:26:58In this episode of Toronto Under Construction, Ben and guest co-host Naama Blonder are joined by renowned urbanist Richard Florida to explore Toronto’s urban challenges and opportunities. They discuss the missed potential of Sidewalk Toronto, the controversy around Ontario Place and Billy Bishop Airport, and the cultural barriers to reducing car de…
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Saturday, November 9th. The post-election show.
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33:31What might happen now that the election has concluded? Our Investment, Retirement, Tax, and Estate Planning teams share their views.By Annex Wealth Management
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Episode 74 - Toronto Under Construction with Jeff Brenner from Castlepoint Numa and Kiran Mirok from Resident
1:07:32
1:07:32
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1:07:32In this episode of Toronto Under Construction, Ben is joined by Jeff Brenner from Castlepoint Numa and Kiran Mirok from Resident to discuss key issues shaping Toronto’s real estate landscape. They tackle community concerns over increased density, Toronto’s shifting zoning policies, and the enduring appeal of single-family homes amidst rising costs.…
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Saturday, November 2nd. Bad, but distorted.
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33:49
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33:49An absolute clunker of a jobs report landed Friday. Was it really that bad? Dave Spano and Brian Jacobsen discuss during our Week-in-Review. HENRY's are High Earners Not Rich Yet. Ryan Van Blarcom of Annex Ignite covers their challenges and opportunities.By Annex Wealth Management
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The latest Beige Book dropped. On balance, economic activity was little changed in nearly all Districts since early September. Most districts reported declining manufacturing activity. Dave Spano and Brian Jacobsen present our Week-in-Review. Also, learn more about how the wealthy tend to fly under the radar.…
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Retail sales showed unexpected strength in September. Meanwhile, labor strikes and hurricanes disrupted manufacturing output. Dave Spano and Brian Jacobsen present our Week-in-Review. Learn more about the 4% rule in financial planning (and if it is effective) and we'll open the mailbag for Ask Annex.…
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Episode 73 - Toronto Under Construction with Sasha Cucuz from Greybrook Capital
1:48:56
1:48:56
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1:48:56In this episode of Toronto Under Construction, Ben and guest co-host Matt Young sit down with Sasha Cucuz, CEO of Greybrook Capital for a deep dive into real estate investment. Sasha shares Greybrook's journey, from its strategic partnerships to navigating the complexities of development equity in both the GTA and U.S. markets. They explore investo…
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Saturday, October 12th. How to herd cats. Let's talk about those Fed Minutes
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33:49
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33:49FOMC Minutes. Everyone agreed they should cut. A "substantial majority" wanted 50 bps. "Some" wanted only 25. Dave Spano and Brian Jacobsen present our Week-in-Review. Learn more about Thursday's Women & Wealth presentation: Avoiding Fraud & Financial Exploitation.By Annex Wealth Management
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Saturday, October 5th. About those job numbers.....
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34:03
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34:03Job creation roared higher in September. What does that mean for the markets? Dave Spano and Brian Jacobsen present our Week-in-Review. Companies are finalizing employee benefits for 2025 and Tom Parks makes a case for upgrading 401k plans with help from Annex. Ask Annex tackles a question from the grandmother of a brand-new US Marine regarding sav…
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Saturday, September 28th. China hits the stimulus button.
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33:43
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33:43The first China Shock was in the 2000s when they joined the World Trade Organization and manufacturing jobs followed. Their slow growth has been a shock. This past week, policymakers got off their duffs and announced some stimulus measures. Dave Spano and Brian Jacobsen present our Week-in-Review. Annex Private Client is a powerful partner for entr…
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Episode 72 - Toronto Under Construction with KC Daya from Clifton Blake, Howie Paskowitz from Starlight Investments and Oren Turk from Pinemount Developments
1:25:15
1:25:15
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1:25:15In this episode of Toronto Under Construction, Ben is joined by KC Daya from Clifton Blake, Howie Paskowitz from Starlight Investments, and Oren Turk from Pinemount Developments to discuss rental apartment development in Ontario. The panel covers the impact of interest rates, navigating construction costs, and mid-rise development strategies, with …
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Fed Chairman Jerome Powell showed he's a lawyer, talking out of both sides of his mouth. Dave Spano and Brian Jacobsen present our Week-in-Review. Also on the show, a look at the role of our Client Service Managers who dot I's and cross T's. Learn more about Thursday's 'Light the Night' event with the Leukemia and Lymphoma Society. Ask Annex return…
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Fed is set to cut rates. Messaging will be more important than the magnitude of cuts. Dave Spano and Brian Jacobsen present our Week-in-Review. The number of 401k millionaires is up again. How do they do it and how can Annex help your employees? Tom Parks of our Retirement Plan Services team explains how.…
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