Preet Banerjee is a management consultant to the financial services industry with a focus on the commercial application of behavioural finance research and fintech. He is a fellow of the Canadian Securities Institute, and holds the Derivatives Market Specialist (DMS) and Financial Management Advisor (FMA) designations. He is a director at FAIR Canada (Foundation for the Advancement of Investor Rights), and member of the governing council at the University of Toronto. He won the Portfolio Managers Association of Canada’s Excellence in Investment Journalism award in 2012, and was named by Advisor.ca as one of Canada’s Top 10 Financial Visionaries. You can learn more about Preet at his website: PreetBanerjee.com, on YouTube, and Twitter.
In Canada, eligible deposits (like savings accounts, GICs, money orders, and more) can be covered by something called Canada Deposit Insurance Corporation (CDIC) Insurance if the financial institution holding the deposit is a CDIC member. CDIC protects eligible deposits, up to $100,000 per insured category, in case a member...