Welcome to the Fall edition of Mercer Private Wealth Management’s e-newsletter, Optimist.


As the leaves turn to those familiar autumn colours and the morning air turns cooler in many parts of the country, it signals fall is finally here. For Canadians, this means turning on the furnace with little thought given to the cost of that much-needed heat. However, for many people living in Europe, the cost of heating their homes will become a serious challenge this winter as energy prices there continue to rise. 


On the inflation front, we saw a slight easing in the August numbers here in Canada, but readings still hover at multi-decade highs locally and around much of the world; most central banks are now on a path of raising interest rates in an effort to try to combat surging prices and cool their economies. 


Rising interest rates have also had an impact on the real estate market, making borrowing costs more expensive and pulling the plug on the red-hot growth in home prices that we have experienced since emerging from COVID. 


Lastly, labour shortages in many sectors of the economy continue to present a challenge to employers, as vacant positions continue to go unfilled. By no means exhaustive, this list paints a picture of several of the major headwinds facing the market at the moment.


In this edition of Optimist, we discuss financial planning and the importance of having a solid financial plan to help guide you through your financial journey. We also look at portfolio volatility and how minimizing it can result in a higher terminal wealth. Finally, the government will be rolling out a new type of account in 2023 aimed at first-time home buyers; we explore what this account is and how it works. 


As always, we are here to answer any questions that you may have about your financial well-being and wealth management goals. Please do not hesitate to contact us.


Stay well,


Matt Ward 
Private Wealth Counsellor
Client Relationship Manager