Ginsler Wealth Fourth Quarter 2022 Client Letter – All Weather Edition

(An audio version of this letter can now be found as Episode 14 of The Unlimited Podcast by Ginsler Wealth. Use the link provided or find us on your favourite podcast app.)

To Ginsler Wealth’s Clients:

Earlier this past quarter, I went on my annual Fall canoe trip in Algonquin Park. There is a core crew of us that have been doing this together for 25+ years. Over the years we have moved the trip from June (too many mosquitos and rain), to July/August (too busy/too many people), to late September/October when the park is much quieter, the bugs are all gone, the air is crisp, and the leaves are changing colours on the trees. It is a beautiful time for a canoe trip…unless the weather doesn’t cooperate.

While you may recall this past October being an unseasonably warm month, leading up to our trip the Algonquin weather was looking very uncertain. But we are quite experienced, we have all the gear, and we know our roles and routines.

When we arrived at the Portage Store on Canoe Lake for departure, we were already layered up in our clothes. It’s always easy to remove layers while on the lake; not so easy to add. It’s critical to be able to adapt and adjust quickly.

The second we started paddling away from the dock, the rain started.


When we arrived on our final lake of the day, we explored a number of potential campsites before choosing the one we thought was laid out best, had a shielded campfire area, and good position on the lake.

Once the winning campsite was chosen, we began our setup process immediately. The tent was put up, including a protective extra tarp (angled “just so”). Another tarp was hung to create a covered area for sitting and to protect wood and supplies, should the inclement weather continue.

Tarp over tent.

Then the hunt began. We spent a few hours in the woods searching for, chopping, and sawing firewood in 3 sizes: smallish kindling, medium twigs and branches for building the fire up, and larger logs for sustaining. You can never have too much wood on a canoe trip. It goes much faster than you think, especially in bad weather when you might not have a chance for a second search.

My friend Jeff is responsible for the fires throughout the trip. He completely rebuilt the firepit, creating a protective wall of rocks. I am the head chef. And Todd is the overall organizer and equipment supplier.

All our experience, preparation and setup proved critical this trip. We experienced rain, torrential wind, hail, and snow (yes!). And luckily a few nice moments of sunshine. Being experienced and prepared enabled us to enjoy a trip that for most novice or amateur canoe trippers would likely have been a disaster. The good news is that the weather next year has to be better than what we experienced this past year!

Brian on trip


Why am I telling you the story of my canoe trip in my year-end letter?

We have just experienced a very difficult year from an economic and investment standpoint. The war in Ukraine continues. Equity and bond markets (typically the only asset classes in most non-Ginsler Wealth portfolios) experienced significant losses. Central banks, especially in the U.S. and Canada, have raised interest rates at a higher and faster pace than perhaps any time in history in an effort to curb inflation, and it doesn’t appear that they are done yet. The effect of this will likely be a recession in 2023 (if there isn’t one already hiding in plain site).

As we “check the weather” for 2023, it is looking like it will be inclement. To navigate 2023, we believe you need: experience, the right investment toolkit, and an ability to assess your investment options and make sound decisions. None of us know exactly what investment and economic weather we are going to experience. So, in our view, most investors[1] should be entering 2023 with an “All-Weather” portfolio – a portfolio that can provide a reasonable level of downside protection, some income along the way (like firewood, you can never have too much income), and the opportunity for growth and gains if and when the sun comes out.

My last quarterly letter focused on opportunities we see in this environment. Those views haven’t changed, and we are implementing such in your Ginsler Wealth portfolios. GW client portfolios are typically allocated across a variety of asset classes – not just stocks and bonds – and we believe have the All-Weather characteristics highlighted above.

We are layered up and have raised the tarp over your portfolios for whatever weather 2023 brings. Whether it rains or shines, Ginsler Wealth has you covered.[2]

View from campsite

Wishing you unlimited health, happiness, and prosperity in 2023.

Thank you for your trust, support, and confidence. We are available 24/7 should you need us.


Brian singnature

Brian Ginsler
President & CEO



[1] All investors, and Ginsler Wealth clients, have different investment goals, objectives, time horizons, and risk tolerances. As such any investment recommendations or statements made herein may not be appropriate for all investors and/or clients.

[2] Investing involves material risk and uncertainties and nothing herein should be considered a promise or guarantee of investment results.

My First Job: Ginsler Wealth CEO Featured in HBS Alumni Magazine

Hot Dog Employee on the Phone

Ginsler Wealth’s Founder & CEO, Brian Ginsler, was recently featured in Harvard Business School’s December 2020 Alumni Bulletin Magazine, in an article showcasing stories of HBS alumni first jobs and key lessons learned.

The piece, called “Dog Days” recounts Brian’s first job as a hot dog vendor and some of the trouble he got into!

To read about the origins of Brian’s passion for customer service (and barbecued hot dogs) check out the full article.


Illustration by: Ross MacDonald

Cybersecurity Best Practices with Daniel Zborovski on The Unlimited Podcast

We are releasing this podcast on Halloween because nothing is more scary than getting hacked!

In the latest episode of The Unlimited Podcast by Ginsler Wealth, Brian Ginsler speaks with Daniel Zborovski, Founder and Principal Consultant of RestWell Technology. Daniel has over 25 years of experience leading and mentoring security, technical and programming teams. Daniel has managed complex security and IT projects for thousands of clients in legal, healthcare, manufacturing, and professional services. A tech evangelist to anyone that will listen, Daniel regularly speaks on panel discussions and keynote addresses to countless IT professionals, business owners and executives. Daniel is also the architect of multiple award-winning products and services.

Brian and Daniel discuss how hackers work in the modern era, best practices for passwords and PINs, as well as “dos and don’ts” for protecting the data of yourself, your family, and your business.

Be afraid. Be very afraid. But listen anyway…

This episode can be found here or find us in your favourite podcasting app, including Apple Podcasts, Spotify, Google Podcasts and Amazon Music.

If you like what you hear, please don’t hesitate to rate us kindly. And if there are particular topics you’d like covered, please let us know.


Picture credit:

Ginsler Wealth Goes to the Movies

With Toronto welcoming the Toronto International Film Festival (TIFF) back to town, we started thinking about our own favourite movies. We know that films and storytelling help us learn, grow, and understand the world, so we thought we’d use a few cherished lines from our favourite movies to help you better understand our business. Over the coming days, we will be highlighting these films and using the opportunity to shed some light on what we think makes us different.

Please follow Ginsler Wealth on your favourite social channel(s) to see these as the curtain is raised.

Key Ginsler Wealth highlights we will focus on:

  1. We’re a different wealth management experience
  2. We look beyond traditional stocks and bonds
  3. We do the work so you don’t have to
  4. We provide holistic wealth, tax and estate planning services
  5. We have an extreme focus on client service

Stay tuned, the show is about to begin!


The first feature in our series of favourite movie quotes…

Like Dorothy arriving in the Land of Oz, when you experience Ginsler Wealth, you immediately sense something is different. We are fully independent, unique, and committed to offering a unique wealth management experience for high-net-worth families.


The second feature in our series of favourite movie quotes…

One of our key services is managing your investment portfolio. We are proud to be fully independent and unconstrained, meaning that we can invest in a wide variety of asset classes and strategies. Just like cooking shrimp, there’s many different ways to invest your money. We’d like to tell you about some of our favourites.


The third feature in our series of favourite movie quotes…

We work hard taking care of your wealth, so that you can relax. Whether it’s a trip to the museum, watching a parade, or even a joyride, you deserve to live the life of your dreams. Get ready to twist and shout.


The fourth feature in our series of favourite movie quotes…

Making financial plans for the whole family can be difficult, but we’re here to make the whole process easier. We are currently accepting new clients, and we think joining us is your density. I mean…your destiny.



The fifth and final feature in our series of great movie quotes…

We’re closing out this series with one of the favourites of our CEO, Brian Ginsler. Exceptional service is one of our top priorities, and we want all our clients to feel cherished and cared for. We won’t rest until you’ve fallen in true love with our service.



We hope that you’ve enjoyed this series and re-visiting some of the greatest movies of all time. Hopefully you get the sense that Ginsler Wealth is not your “typical” wealth firm. We look forward to highlighting some of your favourite movies in next year’s sequel, so please reach out to us and let us know your favourite movie quotes!



Note that Ginsler Wealth and this campaign are in no way affiliated with nor endorsed by TIFF. This campaign will make use of popular culture references for marketing purposes, should not be taken literally, and is not investment advice.

Van Halen’s M&Ms and Ginsler Wealth’s Pencils

Let me tell you about the pencils we use at Ginsler Wealth. If that opening sentence doesn’t instantly grab you, then for some important context, let me first tell you about Van Halen’s M&Ms.

You may know that when rock stars roll into town, their contracts with the venues are long and often include a contract “rider” with specific details the band requires (or demands). In the case of Van Halen, buried deep in their lengthy contract rider included the demand for a bowl of M&M’s with “ABSOLUTEY NO BROWN ONES”. Clearly absolutely ridiculous, right?

Well…not exactly. According to David Lee Roth, the band’s original and then on-again/off-again frontman: “Van Halen was the first band to take huge productions into tertiary, third-level markets [think, older arenas like Maple Leaf Gardens]. We’d pull up with nine eighteen-wheeler trucks, full of gear, where the standard was three trucks, max. And there were many, many technical errors — whether it was the girders couldn’t support the weight, or the flooring would sink in, or the doors weren’t big enough to move the gear through.”

At first glance, it seemed like Van Halen’s request was just another instance of rock stars being difficult or demanding. However, their M&M rule was their “canary in the coal mine”; it helped them identify the partners they could trust, who had demonstrated great attention to detail. Because if they hadn’t, it could literally mean a life and death safety issue for the band or its fans. This litmus test ensured they could protect the band, the crew, and their fans, and enabled them to put on a spectacular show each evening.

So maybe their request wasn’t so ridiculous after all.

At Ginsler Wealth, we are also sticklers for attention to detail. We look after people’s money…we better be! So let me tell you about our pencils. We use Blackwing Matte pencils with a special-order yellow eraser in place of the standard-issue black (which we hand-swap ourselves). We sharpen it with a two-step long point sharpener (for the perfect point), and protect such point with a matching black point guard.

Why do we use these and why does it matter? When we help our clients, we have a key phrase we keep in the back of our minds: “best in the world”. If our clients need strategic tax planning, we seek out professionals who, in our opinion, are “best in the world”; when we build investment portfolios for clients, we seek to find external managers who, in our view, are “best in the world” at their specific investment mandate. And then we customize a plan or portfolio for each client.

So, similar to our research into any financial or investment detail for our clients, for our use, we searched for pencils rated “best in the world”…and found Blackwing: a pencil whose roots go back to the 1930’s and which uses Genuine Incense-Cedar and premium Japanese graphite. Then, we customized the pencil to match Ginsler Wealth’s black and yellow branding. And then we take care of our tools. Most of our clients won’t see this. Much like most will never open the backs of their Apple computers to see what Steve Jobs demanded: “Jobs had always insisted that the rows of chips on the circuit boards look neat, even though they would never be seen.”

Van Halen took what appeared to be extreme steps to ensure their customers got a safe, “best in the world” experience. Similarly, if Ginsler Wealth puts all this effort into our pencils, imagine the effort we exert to create a “best in the world” experience for our clients.

Postscript: Blackwing just released a limited edition set of Bruce Lee-inspired pencils with a black and yellow design motif, complete with yellow eraser. We’ll be using these for a while!