Who manages your corporation's money?

[CompletelyNumb]

For the business owners here, what do you do with your corporate balance (if you hold one)? If investing/saving, what kind of returns are you seeing? Is it passive?

I'm starting to build up a bit too much in my company account. I recently spoke with Wealth Simple, and they offer a savings account for business (not their managed investing line), which is paying 4.7% net of all fees right now.

Much better than 0, but I wonder if there's better options out there beyonders have found or use.

[JfuckinC]

Mines invested with the same people as my personal stuff, my personal is getting good returns but my business isn't as high..

With wealth simple, they will just do 4.5% consistently with no risk?

Edit: I'm a low financial intelligence easy button guy so don't judge me, i don't have time to put into this shit lol.. My accountant(BIL) and investor guy take care of it all for me.

[muse017]

Most of cash are in one year GIC but I had to break down to multiple accounts in case I need some cash right away.
4.5% or something but better than nothing

[CompletelyNumb]

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With wealth simple, they will just do 4.5% consistently with no risk?

It's pegged to current rates obviously, but yes. You have to call them and ask for it specifically, it's not advertised on the site nor is it available as an investment option on the website once inside your account. 100k+ still qualifies for the Wealthsimple Black which reduces the fees slightly and whatever other perks they offer.

I transferred money in, so I guess I'll see how this goes.

I really wish Wise offered Interest/Investing to Canadian accounts.

[schurchill39]

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It's pegged to current rates obviously, but yes. You have to call them and ask for it specifically, it's not advertised on the site nor is it available as an investment option on the website once inside your account. 100k+ still qualifies for the Wealthsimple Black which reduces the fees slightly and whatever other perks they offer.

I transferred money in, so I guess I'll see how this goes.

I really wish Wise offered Interest/Investing to Canadian accounts.

Does anything change if you are already a WS client and transfer corporate funds over or is it like signing up for a new account?

[XylathaneGTR]

My wife's corp's funds are invested with the same people and in similar stuff as her own personal stuff.

[CompletelyNumb]

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Does anything change if you are already a WS client and transfer corporate funds over or is it like signing up for a new account?

I believe you just open another investment account when you're logged in, and choose "Invest for Business" as the account type. I had to first make a personal login in order to open the business one.

[thinmyster]

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Most of cash are in one year GIC but I had to break down to multiple accounts in case I need some cash right away.
4.5% or something but better than nothing

This is same with me. However I think its more tax advantageous to go with 1 year gov bonds with a low coupon and high yields to lower the investment interest income earned and instead have it as capital gains.

Interest earned in a corp account is taxed at 50% I believe

[JfuckinC]

Yah but when you pay it out you get a credit for part of that I think? That’s how I understood it but that doesn’t mean much