Market Watch
Inflation remains a hot topic, and one that continues to plague central banks as they attempt to manage this high inflation environment. As a result, interest rate hikes have continued, and we just saw the Bank of Canada raise the overnight lending rate by 0.75%, and the US Fed is likely to do the same. This will continue to put strain on the housing market and on company earnings as spending will be further constricted. We remain in volatile times as we watch for prices and inflation to steady and will likely continue to see waves of market fluctuations throughout the fall. Earnings reports from major retailers will be an indicator of where consumer spending is at and will shed light on the inflation outlook in the months ahead.

- Brad Wilson

The Battle Between Financial Success and the Human Brain

Everyone has their biases - you, me, everyone! The politics of the last couple of years is nothing if not a testament to this fact.

The reason is that no matter how much someone tries to be 'neutral' or 'impartial' it is exceedingly difficult given how the human brain functions. Simply put, the brain takes in data, filters the data, and arrives at a decision. It is this filtering process that allows for bias, otherwise known as cognitive biases.

These cognitive biases affect our decisions big and small; from what we eat for lunch to the choices we make with our money.

So, you might be asking, what are these cognitive biases? And how do they hinder financial success? I'm glad you asked. Here are a few of the more prominent cognitive biases that affect people's financial success:

This is when people rely heavily on the first piece of information they were given on a topic and rely on that to make their decisions. For example, an investor hears that XYZ is the best sector or product to invest in, maybe they heard it from their parents growing up. But the markets change over time and perhaps XYZ is not a good fit for their current situation. Despite being told this by their advisor, the investor holds on to the belief that XYZ is the best based on what they first heard and insists on investing in it, perhaps to their own detriment.

Confirmation bias is when someone has a stated belief and seeks out new information with the sole intent of reinforcing that belief - avoiding any contradicting information. A person exhibiting this bias also tends to impose their belief on new information whether a relationship exists. Investment crazes are good examples of this. When something new comes on the market there are always investors that divest some or all their assets to place money in the latest big thing. They focus only on positive opinions on the investment and ignore opinions that question the investment's validity, the effect the change will have on the diversification of their portfolio, and their own risk tolerance.

Small Numbers
This bias appears when a person makes generalizations from a small sample size, which can give them inaccurate results and then makes decisions based on these generalizations. For example, people who get investment advice from a small friend group with the assumption that the advice will work for everyone. This friend group may be in a very different situation and what works for one person might not work for you - or a great many people.

Loss Aversion
Loss aversion is the idea that people feel more loss in losing something than pleasure in gaining something. For example, some people would avoid buying a particular investment because they feel it is risky, and that may lose them money in the short term, even if the reward potential is high in the long term. They do this because their fear of a potential loss is greater than the idea of a gain.

These are just a few of the cognitive biases that come naturally to everyone - I have them too. But being more informed about your biases can help you combat the ones that hinder you in both your life and your finances.

To learn more about what biases hinder you contact us at KLT Wealth Management for a quick personal assessment.

- Courtney Beach, QAFP 

​​"Human beings are poor examiners, subject to superstition, bias, prejudice and a profound tendency to see what they want to see rather than what is really there."

~ M Scott Peak, psychiatrist, and best-selling author.

We continuously get asked the question, how am I
doing financially compared to others my age?

Do I have more debt?
Am I saving enough?
When will I be able to retire?

How do I compare financially to my peers?

Being asked those questions so many times, we here at KLT have created a financial ranking calculator that will allow you to see where you rank financially based on your age in our client database. 


Monthly Recipe:
Thanksgiving Side Dishes
Mashed Potatoes


4 pounds golden creamer potatoes, peeled and cut into quarters
1 bay leaf
Kosher salt and freshly ground black pepper
2 cups heavy cream
3 tablespoons unsalted butter
2 tablespoons chopped chive

Put the potatoes into a large pot, add the bay lead, 2 tablespoons of salt and cover. Bring to a boil over medium-high heat and cook until the potatoes are tender, about 20 minutes. Drain them well and remove the bay leaf.Meanwhile, heat the cream and butter in a small saucepan. Put the potatoes through a ricer or food mill and into a bowl. Add the hot cream and season with salt and pepper. Mix together with a spoon and add the chives.

Roasted Brussel Sprouts

1 1/2 pounds Brussel Sprouts
3 tablespoons good olive oil
3/4 teaspoon kosher salt
1/2 teaspoon freshly ground black pepper

Preheat oven to 400 degrees F. Cut off the brown ends of the Brussel Sprouts and pull off any yellow outer leaves. Mix them in a bowl with the olive oil, salt and pepper. Pour them on a sheet pan and roast for 35 to 40 minutes, until crisp on the outside and tender on the inside. Shake the pan from time to time to brown the sprouts evenly. Sprinkle with more kosher salt and serve. 




Copyright © {{Current_Year}}, All rights reserved.

Our mailing address is:
148 Peel Street Unit 1B, New Hamburg, ON N3A 1E3

Quintessence Wealth (Q Wealth) is a partnership that is registered as a portfolio manager, exempt market dealer and investment fund manager. The portfolio manager registration allows Q Wealth to provide investment advice to its clients. The exempt market dealer registration allows Q Wealth to engage in trading activity. These services are provided by Q Wealth through registered advising representatives and dealing representatives, respectively.

Q Wealth is a partnership that is owned by its partners, including KLT Wealth Management. As a client of Q Wealth, you may receive services from both Q Wealth and KLT Wealth Management. Note that individuals from KLT Wealth Management will only provide investment advice and trading advice if they are registered as advising representatives and dealing representatives of Q Wealth, and in providing such services, they will be doing so on behalf of Q Wealth only. KLT Wealth Management may however provide wealth management services such as financial planning, estate and retirement planning, insurance, group benefits and others.

Q Wealth Partners is a registered trade name of Quintessence Wealth, a registered Portfolio Manager in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Quebec, and Saskatchewan, an Investment Fund Manager in Newfoundland and Labrador, Ontario, and Quebec, and an Exempt Market Dealer in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Quebec, and Saskatchewan. The Ontario Securities Commission (OSC) is the principal regulator for Quintessence Wealth. Please visit for more information.