CG Wealth Management February Newsletter
Personal Note from the Team
Tax Season
As we begin the 2025 tax season, we wanted to remind you of a few key dates to keep in mind:
The deadline to file and pay for any income tax owing for the 2025 tax year is April 30, 2026.
The deadline to file your 2025 taxes if you (or your spouse/common-law partner) are self-employed is June 15, 2026.
As mentioned before, our firm partners with former CG Wealth Partner, Glen Koshman, who prepares income tax filings on behalf of clients who are interested in utilizing this service.
If you’ve never utilized this tax service before or have not notified us recently that you would like to use this service, please let our team know and we will send you the instructions, detailing the process this year for Glen preparing your income tax return.
Portfolio Adjustments
Since November 2025, we have been executing on structural changes to our portfolios. In summary, across our three portfolio series (Global, Strategic, & SMA), we have been adjusting to be more defensive. In simpler terms, we have been increasing the cash or cash equivalent positions in the portfolios. As well, we have decreased our portfolio’s allocation to the U.S. and have spread that to other markets, like Canada and the cash equivalents.
The reason for these adjustments is that in our view, the market could be due for a correction in the short term. The valuations of companies, especially in the U.S., have started to become overvalued, and as a result, the market in general. Combined with the increased geo-political uncertainty that seems to be the new norm, we feel that these factors could lead to a sell off in the market. While we are not guaranteeing a correction, we have a responsibility to you, the client, to protect your investments. And with these two factors that we see as potential risks, we felt it necessary to adjust the portfolios as such.
Our goals with the restructuring are simple. The first is to lower the potential drawdown on client’s portfolios if we do see a correction. The second is if there is a correction, we have the cash liquidity to inject back into the market when the prices are low, capturing the tailwinds when the market begins to rise again.
If you have any questions about any of these portfolio adjustments, feel free to give the office a call.
What’s New
Chris Earns his Portfolio Management Designation
We are excited to announce that Chris has officially earned his Portfolio Management designation! This prestigious designation not only solidifies his numerous years of experience in the financial industry but also allows him to take on greater responsibilities in discretionary portfolio management, advising on investment strategies, and delivering tailored solutions to clients with enhanced expertise and regulatory recognition. Congratulations to Chris on this well-deserved achievement—we look forward to the continued value he brings to our team and clients!
Aaron Becomes Partner at the Firm
In other exciting news, we are happy to announce that Aaron Hill has officially become a Partner here at CG Wealth Management! Since joining our team in July 2024, Aaron has been diligent in supporting clients’ needs, working to earn various investment licenses and designations, while greatly helping shape and grow the company in various avenues. We look forward to Aaron continuing his education and experience in his current role as an Associate Advisor and now as a Partner.
Market Updates
The top headlines in the market we have been watching are:
Global Oil Prices Surge: Despite the focus of this month’s newsletter on primarily recapping the month of February, we wanted to highlight the surge in oil and the primary factor causing this spike in March. Brent Crude, a global benchmark for oil prices, reached highs in March of nearly $120 USD /barrel. With the States and Israel’s targeted military operations in Iran in early March, Iran has responded by effectively closing the Strait of Hormuz through attacks on commercial vessels, many of which transport oil from the Gulf countries through this strait to around the world. With this restriction on oil supply and no material change on the demand side, the price per barrel has sharply increased as a result.
Gold and Silver surge to new all-time highs: Gold peaked at a record high of approximately $5,600 per ounce while silver reached a record of approximately $120 per ounce before selling off. Various market and macro-economic factors, such as industrial demand, geopolitical shocks, and monetary policy uncertainty, drove commercial and retail investors to continue to buy into the precious metals market, bolstering the high prices experienced in the first of quarter 1.
6 of the 7 US Mega-Cap names reported earnings in January and February:
Macro Economy Updates
The top headlines in the macroeconomic sphere we have been watching are:
Interest Rates held in Canada and the U.S.: Canada and the U.S. both had interest rate announcements during the first quarter of the year and both countries held their key interest rates at their current levels. Canada’s key interest rate is still at 2.25% and the U.S.’ key interest rate is still 3.75%. Both country’s next rate announcement is scheduled for March 18, 2026.
Conflict in Iran Increases: On February 28, 2026, the United States and Israel launched large-scale joint airstrikes (Operation Epic Fury) across Iran, killing their Supreme Leader, Ali Khamenei, and numerous senior officials, while targeting nuclear facilities, missile sites, air defenses, and military infrastructure. Iran retaliated with hundreds of ballistic missiles and drones against Israel, U.S. bases in the region, and allied countries, causing casualties and widespread disruption. While Iran has effectively closed the Strait of Hormuz through direct attacks on commercial vessels, drone and missile strikes, naval mines, and threats from the IRGC, halting most global oil and LNG transit (about 20% of world supply) and driving oil prices to nearly $120 USD/ barrel. Iran's new Supreme Leader, Mojtaba Khamenei, issued his first public statement vowing to keep the strait blocked as a "tool of pressure". The IEA has released massive oil reserves to mitigate the crisis, shipping insurance has been canceled for the route, and global economic ripple effects continue amid calls for regime change from the US and no clear end in sight.
New Canada x China Trade Deal: The governments of Canada and China announced a new trade deal between the two countries. The deal centered around a reciprocal reduction of tariffs on some of the country’s respective industries. Most notably coming out of the deal:
Electric Vehicles: Canada will lower its tariff on Chinese-made Electric Vehicles with the aim for further reductions in tariffs on these Chinese vehicles in future years.
Agricultural Exports: China will significantly slash tariffs on Canadian canola seed by March of 2026.
Thecountries also agreed to reduce tariffs in other areas such as Seafood, crop pulses, steel & aluminium.