HOUSEHOLD GETTING RICH PVAF SERIES....if you do not have a life financial plan...then you plan to fail financially in life.....
Posted by Vishva News Reporter on November 4, 2010


...without which no household could prosper and thus be happy...

“A journey of 1000 miles must start with 1 step”
Japanese proverb.
-   Champak Mistry
....To understand above knowledge quotes
please read the following Babylon parable in the ancient Mesopotamia civilization
from about 2600 years ago...
Arkad, the richest man in Babylon, was very generous with his family, and gave much to charity. Though he was very giving, his wealth continued to grow.

Arkad, was asked why fate should make one man so wealthy when any of them were equally deserving.

Arkad replied that if they were not wealthy, it was because they had failed to learn the laws of wealth building, or else had failed to adhere to them.

He said if "fickle fate" brings wealth, wanton spending will take it away....

The above parable is quoted from the book "The Richest Man in Babylon"
This is a book by George Samuel Clason which dispenses financial advice through a collection of parables set in ancient Babylon. Through their experiences in business and managing household finance, the characters in the parables learn simple lessons in financial wisdom. By basing these parables in ancient times, but involving situations that modern people can understand and identify with, the author presents these lessons as timeless wisdom that is as relevant today as it was back then.
The book began in 1926 as a series of informational pamphlets. Banks and insurance companies began to distribute these pamphlets, and the most famous ones were eventually compiled into this book. It was most recently reissued by Signet Books in 2004, and an updated version (using modern English instead of "King James" language) was issued by BN Publishing in March 2007. According to the 2002 edition book cover, more than two million copies have been sold.....(To continue educating yourself on the hilites of this book please click here...)

In USA and Canada....middle class is believed to be richer than the rich class in many nations on this planet Earth...and families in middle class have total asset value approaching a million dollars...It is also believed that this middle class wealth is most of the time not producing additional wealth as is the case with the rich class families...And this is simply because the middle class families do not normally have the wealth making knowledge that the rich class families have - some families even for generations....

And with the above societal knowledge PVAF today publishes news/financial-life-knowledge that has recently evolved from the Canadian Bank of Nova Scotia with its TOTAL WEALTH CREDIT SOLUTION   under its  Scotia Private Client Group services......

Please click on the next line to read about this news sharing....and with prayers that this knowledge will let you make the next million dollars and bring added happiness to your family....

Brett Wilson, chairman of Canoe Financial and lead deal-maker on Dragon's Den, says entrepreneurs need uncomplicated,  convenient access to integrated but flexible credit platforms.
Photograph by: Postmedia News, Postmedia News
Brett Wilson, chairman of Canoe Financial and lead deal-maker on Dragon's Den, says entrepreneurs need uncomplicated, convenient access to  integrated but flexible credit platforms.pan>
....Money Where the rich can go when they need a loan... 
.......Scotiabank program gives clients fast access....

(From: Edmonton Journal, Alberta Canada : November 3, 2010By Jonathan Chevreau,
Financial Post: © Copyright (c) National Post)

Scotiabank has stolen the march on its rivals in the race to provide simplified lending to the 1.1 million Canadian families with net worths of $1-million. Scotia Private Client Group has formally announced a program that's been in the pilot stage since April: 200 affluent clients already use its Total Wealth Credit Solution.

In an apparent first, clients get consolidated views of all financial assets held at different parts of the bank, then borrow on the combined collateral value. This might include non-registered investments held at full service broker unit ScotiaMc-Leod or discount brokerage Scotia iTRADE, GICs held at retail branches, a principal residence or recreational property and the cash surrender value of insurance policies.

Head of private banking Andrew Wright says clients want the flexibility to borrow quickly when opportunities arise: whether in temporary dips in the stock market or when bargains arise in real estate or business.

Wright says it was inspired by Brett Wilson, chairman of Canoe Financial and lead deal-maker on Dragon's Den, the venture capital reality TV show. Wilson says entrepreneurs need uncomplicated, convenient access to integrated but flexible credit platforms.

With a single integrated investment line of credit, clients write cheques on business or personal accounts, using their overdrafts to strike while the iron is hot.

They can also get advances at fixed or floating rates. Some collateral can be unsecured and "under some circumstances," may include assets not held within Scotiabank.

For the most part, though, this is a Scotiabank solution, which one hopes will be copied by rivals. Clients set up pre-approved paperwork and agree to normal borrowing terms. The latter range from prime (currently 3%) to prime plus two or three points, depending on net worth and risk profile.

"This is customized lending, not retail lending," Wright says. So someone with highly liquid blue-chip stocks may pay interest at prime while someone with less liquid real estate assets and a riskier profile might pay more.

Michael Nairne, whose Tacita Capital Inc. caters to ultra-wealthy clients, says Total Wealth does introduce an element of convenience.

"Historically, it's been siloed systems, where the online broker is not talking to your investment counsellor who's not talking to your banker. They seem to have burst through that on the stock/bond side to give everyone a full view and the ability to collaterize it all."

Nairne says it should appeal to younger entrepreneurs or professionals still building, say, dental or medical practices. However, most of his own clients "have no debt or if they do it's for interim purposes. It makes no sense for them to borrow: they're better off cashing in high interest savings accounts or short-term bonds. We normally suggest clients keep their debts in one place and their assets at another."

Tom McCullough, president of Toronto-based Northwood Family Office, says Total Wealth is a "positive thing" but not relevant for his clients, who have net worths ranging from $10-million to $250-million.

"Everyone has a credit line and cash flow but the issue isn't collateral. If they need it, our clients can get collateral from other assets. This has not been brought up to me by anyone ever."

Even so, for the right client at Scotiabank, Total Wealth does seem to cut through red tape. There's less need to move money around to get access to capital, which minimizes commissions and tax consequences. Investments are priced daily, providing more collateral as markets rise. Normal margin applies: 70% on blue chip North American stocks trading over $5, 50% otherwise. Collateral can be held as individuals, in a spouse's name or through holding companies.

Average net worth of Total Wealth clients is $3 million to $5 million, Wright says, with loans typically half those amounts.

Now Educate Yourself about


Total Wealth enables clients to borrow against multiple asset classes held in different locations, under a single, integrated investment line of credit. This is an industry first in Canada among comparable Canadian financial institutions because Total Wealth systematically collects and manages information on different types of available collateral to maximize a client's borrowing power. />
How it works: Private bankers at Scotia Private Client Group can now access fully automated daily market valuation and margin calculations for a broad range of securities maintained in client investment portfolios - whether with an investment advisor or an on-line brokerage account. This information is then automatically combined with valuations of other collateral types maintained in Total Wealth, such as residential real estate or insurance policies. All of the collateral is consolidated in support of a single, integrated investment line of credit. This enables clients to leverage their broad-based wealth in a more efficient and convenient manner.

For example, investors and entrepreneurs can now combine their equity and fixed income securities portfolios with assets such as the cash surrender value locked in their insurance policy, or their residential or recreational property, to support convenient access to an investment line of credit.

Other features of Total Wealth Credit Solution:

       - Clients can reduce risks associated with borrowing to invest by diversifying collateral, using assets with relatively stable market values in combination with investment portfolios that are valued daily
      - Collateral can be held as an individual, in a spouse's name, or through a holding company.   

       - There is no need to transfer or sell assets to access liquidity or consolidated credit against those assets, enabling clients to reduce their transaction costs and preserve their tax and investment strategies.

       - Credit can be accessed through simple overdraft or a combination of advances at fixed or floating rates in CAD or USD.

"Total Wealth is ideal for the high net worth investor who values convenience, flexibility, simplicity and the ability to respond more quickly to opportunities dependent on ready access to credit," concludes Mr. Wright. "We've anticipated that need and are now fulfilling it."

About Scotia Private Client Group:

ScoScotia Private Client Group provides customized solutions to help high net worth clients build, preserve and transfer their wealth. Scotia Private Client Group consists of private client services from The Bank of Nova Scotia, The Bank of Nova Scotia Trust Company, Scotia Asset Management L.P., Scotia Asset Management U.S. Inc., ScotiaMcLeod Financial Services Inc., and ScotiaMcLeod(R), a division of Scotia Capital Inc. Scotia Capital Inc. is a member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund. Scotia Private Client Group is a registered business name of The Bank of Nova Scotia, The Bank of Nova Scotia Trust Company, ScotiaMcLeod Financial Services Inc., Scotia Asset Management L.P., and Scotia Capital Inc. in the jurisdictions in which they carry on business. Private banking services are provided by The Bank of Nova Scotia. For more information, please visit

About Scotiabank(R):

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With close to 70,000 employees, Scotiabank Group and its affiliates serve approximately 14.6 million customers in some 50 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With more than $523 billion in assets (as at July 31, 2010), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit (R) Registered trademark of The Bank of Nova Scotia, used by its affiliates under license. (TM) Trademark of The Bank of Nova Scotia, used by its affiliates under license.

About W. Brett Wilson trong>

W. Brett Wilson is Chairman of Canoe Financial, a privately owned investment management firm with over $1.5 billion in assets under management with an investment philosophy based on the strength of Canadian based companies that are uniquely positioned to prosper as a result of global growth in the coming years. He is also Chairman of Prairie Merchant Corporation, a private merchant bank focused on business opportunities in the energy, agriculture, real estate, sports, and entertainment industries. In 1993, he co-founded FirstEnergy Capital Corp., a Canadian brokerage firm that provides investment-banking services to Canada's oil and natural gas sector. FirstEnergy is an industry leader, having participated in thousands of financing and M&A projects worth over $225 billion. In 2007, he stepped back from active duty, but remains an investor in the firm. Brett is also a panelist on CBC's Gemini award winning hit reality TV show, Dragons' Den.

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