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Author: Oskar Malone

  • Wealthsimple client falls victim to fraud as almost $5,000 in crypto is sold and withdrawn from his account — what investors need to know to protect their assets

    Wealthsimple client falls victim to fraud as almost $5,000 in crypto is sold and withdrawn from his account — what investors need to know to protect their assets

    In an age where digital transactions dominate, financial security is more critical than ever. One Wealthsimple user recently learned this the hard way after waking up to a shocking discovery — nearly $5,000 had vanished from his account. The cause? Cyber fraud.

    The investor, a member of the r/Wealthsimple forum on Reddit, described how their crypto assets were sold, converted into cash and transferred out of their account — all without their authorization. Alerted by a confirmation email, u/amseghir took quick action and contacted Wealthsimple’s fraud department; he also took to the Reddit forum r/Wealthsimple.

    His tale sparked immediate concern, as other investors recounted similar experiences of unauthorized transactions and potential security breaches.

    Not the only SIM swap cyber fraud victim

    But u/amseghi’s case is far from unique. A Toronto-area couple lost more than $140,000 in a devastating SIM swap scam that gave fraudsters access to their stock trading and cryptocurrency accounts.

    Wayne and Diana Stork had no idea their phone number had been hijacked until Wayne’s device went into “SOS mode,” leaving him locked out while hackers drained their savings. By the time their mobile provider, Freedom Mobile, recognized the fraud, the couple had already lost a significant portion of their retirement funds.

    These cases underscore a chilling reality — cybercriminals are becoming more sophisticated, and even well-prepared investors are at risk. As more people turn to digital banking and investment platforms, understanding how these scams operate and how to safeguard personal finances has never been more urgent.

    Road to financial loss

    Despite having two-factor authentication (2FA) enabled, cybercriminals managed to gain access to u/amseghir’s account, leaving the Wealthsimple client scrambling for answers.

    In the Reddit thread discussing the incident, several users speculated about the potential causes:

    • Phishing scams: The victim recalled clicking on a social media ad for "Wealthsimple Rewards," which they believe may have been a fraudulent link leading to a fake login page.
    • Weak 2FA security measures: While the user had 2FA enabled, some forum members pointed out that SMS-based 2FA can be easily intercepted or bypassed.
    • Third-party data leaks: Others suggested that the victim may have reused passwords or had their credentials compromised through another service.

    One commenter noted that even strong security measures can fail if a hacker gains access to a user’s email, where 2FA codes are often sent.

    Financial fraud digs deep into Canadian pocketbooks

    According to the Canadian Anti-Fraud Centre (CAFC), Canadians lost over $554 million due to fraud in 2023. Investment fraud was particularly significant, accounting for approximately $309.4 million of these losses.

    Cryptocurrency fraud is one of the fastest-growing trends. In 2023, such scams had a high median dollar loss of $9,365, with 82.6% of those targetted reporting financial losses.

    Cautionary tale for investors

    The original post, along with subsequent comments, highlights the need for thorough due diligence before trusting financial transactions.

    While the original poster did implement all standard security measures, it wasn’t enough to prevent financial fraud. The incident — along with similar examples shared in the comments — underscores an uncomfortable reality: Even those who take precautions can still fall victim to scams.

    It’s not just Wealthsimple clients who need to be concerned. According to research from cybersecurity firms, SMS-based 2FA can be compromised in up to 90% of attacks through SIM-swapping and phishing schemes. The Federal Bureau of Investigation (FBI) reported a significant increase in SIM-swapping incidents, with 1,611 complaints and adjusted losses exceeding USD$68 million in 2021, alone.

    These vulnerabilities have led security experts to recommend more secure alternatives, such as hardware security keys or authenticator apps, to enhance account protection.

    How Wealthsimple clients can protect themselves

    Many Reddit users shared their own experiences and offered critical advice to help others avoid similar losses:

    • Avoid clicking on ads or unverified links: Multiple users reported seeing fraudulent Wealthsimple ads on social media. If an offer seems too good to be true, it probably is.
    • Use a hardware security key: A YubiKey or other physical 2FA device is much harder for hackers to compromise than SMS or email authentication.
    • Separate email accounts for banking: Some recommend creating a dedicated email solely for banking, reducing the risk of exposure from phishing or password leaks.
    • Enable strong password practices: Using a password manager to generate and store unique passwords can help prevent unauthorized access.
    • Monitor account activity: Regularly checking account activity and setting up instant notifications for transactions can help detect fraud early.

    Will Wealthsimple reimburse the loss?

    One of the biggest unanswered questions is whether the victim will be reimbursed or not.

    Initially, the client was hopeful that CDIC protection would cover the financial loss, but CDIC insurance doesn’t protect against fraud (just theft and bankruptcy).

    That doesn’t mean the original poster is stuck eating the loss. According to commenters and other forum members, Wealthsimple appears to voluntarily reimburse losses for some clients, while others said they were left waiting for weeks with no resolution.

    To increase the odds of recovering the stolen funds, u/amseghir filed reports with the RCMP and the Vancouver Police Department. Given the fraudster used the Wealthsimple Cash Account, u/amseghir is hopeful the police will track the fraudulent transaction. Whether the funds will be recovered remains uncertain.

    Final thoughts: A lesson in digital vigilance

    This apparent fraud case serves as a stark reminder that financial platforms are not immune to cyber threats. Just as classic car buyers must verify a vehicle’s history before purchasing, investors need to take proactive steps to protect their digital wealth.

    While fintech companies like Wealthsimple offer convenience and innovation, they also introduce new security risks. The key takeaway? Never assume your money is fully protected — stay vigilant, question unusual activity, and strengthen your account security wherever possible.

    For those who use Wealthsimple or any other online financial service, now is the time to review your security measures before it’s too late.

    Sources

    1. Reddit: I’ve been scammed (Feb 2, 2025)

    2. Global News: ‘A nightmare’: SIM card swap scam hits Toronto-area couple for more than $140,000 (March 21, 2024)

    3. Anti Fraud Centre: Warning on crypto and romance frauds (May 28, 2024)

    4. Better Business Bureau: BBB Scam Tracker: Canada Risk Report (2023)

    5. FBI: Criminals Increasing SIM Swap Schemes to Steal Millions of Dollars from US Public (Feb 8, 2022)

    This article Wealthsimple client falls victim to fraud as almost $5,000 in crypto is sold and withdrawn from his account — what investors need to know to protect their assets originally appeared on Money.ca

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Share of Canadians looking to job switch is down from 2024

    Share of Canadians looking to job switch is down from 2024

    A new report from talent solutions and business consulting firm Robert Half revealed over a third (38%) of workers have started or are planning to start looking for a new job in the first half of the year. That figure is down from half in July 2024.

    "While many professionals right now are still interested in pursuing new roles, the decrease in active job seeking may lead to increasing hiring challenges for the nearly half of businesses planning to expand their workforce in 2025," Koula Vasilopoulos, Robert Half Canada’s senior managing director, said in a statement.

    "Employers will need to focus on strategies that help them find the right talent, promote a smooth hiring process and attract skilled workers to new roles."

    An additional 39% say they are open to a new role if the right opportunity arises.

    New opportunities

    Job seekers in Canada have a variety of reasons they cite for why they want a new position. The top reasons mentioned in the study are to gain:

    • A higher salary (41%)
    • Better perks and benefits (31%)
    • More remote flexibility than what their company offers (27%)
    • Greater professional development opportunities (20%)

    For those planning to stay put in their current positions, professionals pointed to a competitive salary with regular merit increases (74%), fair and reasonable workloads and expectations (70%), opportunities for career advancement and supportive managers (tied at 69%), positive work and team cultures (68%) and flexibility in when and where they work (66%) as the driving factors.

    Pitfalls to avoid while hiring

    Most workers (94%) are confident in their skills and abilities, and 73% of those reported learning new skills in the past 12 months. In addition, 72% of workers said that they are confident they could find a new job if they needed to or were interested.

    With that in mind, professionals included some the biggest obstacles they face when job hunting, including:

    • Making their resumes stand out (70%),
    • Identifying jobs that align with their skill sets, experiences and career goals (68%)
    • Finding the time to search and apply for jobs and knowing when to follow up with the hiring manager/recruiter (tied at 55%)

    The study also highlighted potential red flags that can deter workers from applying to open positions, including:

    • No salary range in the job description (42%)
    • Vague or unreasonable job responsibilities, reporting lines and career path (35%)
    • Poor communication with the hiring manager or recruiter (33%)

    Survey methodology

    The online survey was developed by Robert Half and conducted by an independent research firm in December 2024. It includes responses from 1,500 professionals aged 18 and over across Canada.

    This article Share of Canadians looking to job switch is down from 2024

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Discovering Canadian wine: Homegrown alternative to American wine imports

    Discovering Canadian wine: Homegrown alternative to American wine imports

    With ongoing trade tensions and tariff discussions involving US President Donald Trump, many Canadians are considering shifting their purchasing habits in favour of local alternatives. This presents the perfect opportunity for wine lovers to explore the diverse and high-quality offerings of Canada’s wine industry.

    From the rolling vineyards of British Columbia’s Okanagan Valley to the renowned terroirs of Ontario’s Niagara Peninsula and Prince Edward County, Canadian winemakers produce world-class wines that stand toe-to-toe with their American counterparts.

    Whether you’re a fan of California’s bold Cabernet Sauvignons, Oregon’s refined Pinot Noirs or Washington’s smooth Merlots, there are exceptional Canadian wines ready to fill the gap on your dinner table.

    To help, here’s a sample of some of Canada’s best wines — excellent substitutes for popular American selections — that allow you to enjoy premium quality wine while supporting local vintners.

    Canadian wine

    Canada boasts a diverse and thriving wine industry, offering high-quality alternatives to popular American wines across various styles and varietals.

    Here are some Canadian-made wines that serve as excellent counterparts to best-selling American selections, with options for those that love a good Chardonnay, Cabernet Sauvignon, Pinot Noir, Merlot, Riesling or Shiraz.

    Canadian Chardonnay

    • Le Clos Jordanne Claystone Terrace Chardonnay (Niagara Peninsula, Ontario): This Chardonnay has received critical acclaim, notably winning the top spot for Chardonnay in the "Judgement of Montreal" experts’ tasting.
    • Mission Hill Family Estate Reserve Chardonnay (Okanagan Valley, British Columbia): Known for its balanced acidity and notes of apple and citrus, this wine offers a refined alternative to Californian Chardonnays.

    Canadian Cabernet Sauvignon

    • Inniskillin Cabernet Sauvignon (Niagara Peninsula, Ontario): Inniskillin, renowned for its icewines, also produces a robust Cabernet Sauvignon with rich berry flavours and a smooth finish.
    • Fort Berens Cabernet Sauvignon (Lillooet, British Columbia): This wine presents dark fruit flavours with subtle tannins, reflecting the unique terroir of British Columbia.

    Canadian Pinot Noir

    • Norman Hardie County Pinot Noir (Prince Edward County, Ontario): Celebrated for its Burgundian style, this Pinot Noir offers earthy undertones and bright cherry notes, comparable to esteemed Oregon Pinots.
    • Quails’ Gate Pinot Noir (Okanagan Valley, British Columbia): A well-structured wine with flavours of red berries and a hint of spice, providing an excellent alternative to Californian Pinot Noirs.

    Canadian Merlot

    • Tawse Winery Merlot (Niagara Peninsula, Ontario): This Merlot delivers plum and blackberry flavours with a velvety texture, rivalling popular Washington State Merlots.
    • Burrowing Owl Merlot (Okanagan Valley, British Columbia): Known for its rich palate and smooth tannins, this Merlot stands as a distinguished Canadian counterpart.

    Canadian Riesling

    • Thirty Bench Small Lot Riesling (Niagara Peninsula, Ontario): Offering a crisp acidity with notes of green apple and citrus, this Riesling is akin to esteemed American versions from the Finger Lakes region.
    • Tantalus Vineyards Riesling (Okanagan Valley, British Columbia): This wine showcases vibrant acidity and mineral undertones, comparable to top-tier American Rieslings.

    Canadian Syrah/Shiraz

    • Black Hills Syrah (Okanagan Valley, British Columbia): With bold flavours of dark fruit and pepper, this Syrah mirrors the intensity found in acclaimed Californian Syrahs.
    • Pillitteri Estates Winery Shiraz Icewine (Niagara Peninsula, Ontario): An innovative take on Shiraz, this icewine offers a sweet yet spicy profile, unique to Canadian winemaking.

    Bottom line

    These selections highlight the quality and diversity of Canadian wines, providing excellent alternatives to popular American varietals. Availability may vary by region and retailer; it’s advisable to consult local wine merchants or provincial liquor boards for specific offerings.

    Support local and sip the finest homegrown alternatives today!

    Sources

    1. Wine Enthusiast: It’s Nearly Impossible to Get Canadian Wine in the U.S. Here’s Why (May 8, 2023)

    2. GuildSomm: Canada’s Wine Market: A Complicated Mosaic

    3. RedFlagDeals Forum: Canadian Wine (July 20, 2023)

    This article Discovering Canadian wine: Homegrown alternative to American wine imports

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • This Halifax veteran is being forced out of his RV in the middle of winter because he’s breaking a local bylaw — how the housing crisis keeps pushing Canadians to the brink

    This Halifax veteran is being forced out of his RV in the middle of winter because he’s breaking a local bylaw — how the housing crisis keeps pushing Canadians to the brink

    A Halifax veteran and his dog may soon be out of a place to live.

    Matthieu Tetreault currently lives in an RV on the edge of his mother’s property by the side of the road.

    The Halifax Regional Municipality (HRM) says his RV and the addition he built onto it break a local bylaw and he is being asked to leave by early February.

    Tetreault told CBC News, “I would like the HRM to consider not making people homeless… am I supposed to just get a tent now, would that be more feasible to them?”

    “He doesn’t need to be homeless…”

    Tetreault is a veteran who served in the Navy for nine years before leaving with a back injury. He works full-time but would not be able to afford a place to live that would allow pets.

    The RV was the ideal housing arrangement for him, and with the addition he built on he had enough space for him and his dog, Harper.

    He often relaxes by the wood stove, which was approved according to the Halifax Fire Code.

    Tetrault told CBC News, “This is in immaculate shape and I try to take care of it because it’s all I have.”

    He is questioning why he has to vacate the property when many people are living in campgrounds supported by the provincial government.

    Many neighbours are supportive and dropped off firewood but there was one complaint about the RV being on the side of the road.

    Michelle McClung, Tetrault’s mother, said if they had approached her with the complaint they could have put up screens or moved the RV.

    “He doesn’t need to be homeless because someone doesn’t like the look of the RV,” McCLung told CBC News.

    His mother can’t have him in her home because she already has two other sons living with her and they don’t have enough space. She says, “It’s hard when they all have to come home because of the economy.”

    Housing needs are changing

    Nova Scotia’s Provincial Housing Needs Assessment report confirmed that housing needs are changing in the province because of growing demand and a housing supply shortage.

    Nova Scotia’s average home sale price have jumped up 63% from 2019 to 2022, and rents have increased 19% during the same period.

    The government’s solution? Our Homes, Action for Housing, a five-year plan meant to help Nova Scotians get access to housing.

    The plan includes increasing skilled workers, growing the community housing options and using provincial land to create homes.

    According to the Provincial Housing Assessment, there’s a shortage of roughly 41,000 units predicted by 2027.

    This leaves a lot of people, like Tretreault, looking for alternative housing.

    The Nova Scotia Provincial Housing agency helps lower-income folks, including seniors, families and individuals, find a place to live.

    Some choose to live in RVs, like Tetreault. Others are finding communities, like the Sackville Tiny Home Community, which is managed and maintained by the Affordable Housing Association of Nova Scotia.

    As for Tetreault, a city spokesperson said staff are reviewing the situation but couldn’t offer any more details.

    If he has to leave, Tetreault and Harper will be left with no choice but to go live on his mother’s couch and he says, “It’s the winter right now, it would be nice if they could just not kick me out.”

    This article This Halifax veteran is being forced out of his RV in the middle of winter because he’s breaking a local bylaw — how the housing crisis keeps pushing Canadians to the brink

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Dollar-cost averaging with Nvidia: A long-term strategy for Canadian investors

    Dollar-cost averaging with Nvidia: A long-term strategy for Canadian investors

    Nvidia (NASDAQ: NVDA) has been one of the best-performing stocks of the last decade, benefiting from advancements in artificial intelligence (AI), cloud computing, and gaming. However, its high price and volatility make it a challenging stock for Canadian investors to buy.

    One way to manage risk and build a long-term position in Nvidia (NASDAQ: NVDA) is through dollar-cost averaging (DCA ) — a strategy where investors buy a fixed dollar amount of stock at regular intervals instead of making a lump-sum purchase.

    To use DCA effectively, Canadian investors need to learn which accounts to use (either TFSA, RRSP, or taxable), and which trading platforms to use, such as Wealthsimple, Questrade, TD Direct Investing, among others.

    What is dollar-cost averaging (DCA)?

    DCA is an investment strategy where you invest a fixed amount of money at regular intervals, regardless of the stock’s price. Over time, this smooths out the impact of market volatility and can reduce the risk of buying at a peak.

    Example of DCA with Nvidia for a Canadian investor

    • Instead of buying $12,000 worth of Nvidia (NASDAQ: NVDA) all at once, you decide to invest $1,000 per month for 12 months.
    • Some months, Nvidia may be expensive; other months, it may be cheaper.
    • This strategy reduces the impact of market swings and ensures you don’t buy at a short-term high.

    Why DCA works well for Canadian investors buying Nvidia

    1. Reduces Risk of Market Timing

    • Nvidia (NASDAQ: NVDA) is highly volatile, and its price can swing 5 to 10% in a single day.
    • By investing consistently, you avoid making emotional decisions based on short-term price movements.

    2. Helps Manage Currency Risk for Canadians

    • Nvidia (NASDAQ: NVDA) trades in USD, meaning Canadian investors face currency fluctuations when buying the stock.
    • DCA helps average out currency exchange rates over time, reducing the risk of buying when the Canadian dollar is weak against the US dollar.

    3. Easy to Automate with Canadian Brokerages

    • Some platforms like Wealthsimple Trade and Questrade allow investors to set up recurring stock purchases, making DCA fully automated.
    • Even if you use a brokerage that doesn’t offer automated DCA (like TD Direct Investing), you can still manually buy a fixed amount each month.

    Which Canadian accounts are best for Nvidia DCA?

    1. TFSA (Tax-Free Savings Account)
    ✅ Best for long-term growth because all gains are tax-free.
    ✅ No taxes on capital gains or dividends.
    🚨 Downside: Nvidia doesn’t pay a dividend, so this is only useful for long-term capital gains.

    2. RRSP (Registered Retirement Savings Plan)
    ✅ Contributions are tax-deductible, reducing taxable income.
    ✅ Great for Nvidia because there are no withholding taxes on US stocks inside an RRSP.
    🚨 Downside: Withdrawals in retirement are taxed as income.

    3. Taxable Account
    ✅ Good for flexibility (no withdrawal restrictions).
    🚨 Downside: Capital gains are taxable at 50% in Canada.
    🚨 Currency conversion fees may apply.

    Which Canadian brokerages support DCA for Nvidia?

    Dollar-cost averaging with Nvidia
    Money.ca | Dollar-cost averaging with Nvidia

    Best option for Canadian investors using DCA

    • If you want zero commissions, Wealthsimple Trade is the easiest option, but you pay FX fees.
    • If you want a USD account and more control, Questrade or Interactive Brokers is better for reducing currency conversion costs.

    DCA vs. lump-sum investing: Which is better for Nvidia?

    A common question is: “Should I just buy Nvidia all at once instead of using DCA?”

    ✅ Lump-sum investing is better if the market is in an uptrend, because historically, stocks tend to rise over time.

    ✅ DCA is better if you’re worried about short-term volatility and want to spread out your risk. Since Nvidia is highly volatile, DCA can be a smart way to manage risk while still building a position over time.

    Final thoughts: Why DCA is a smart strategy for Canadians investing in Nvidia

    Dollar-cost averaging is a great way for Canadian investors to buy Nvidia without worrying about short-term price swings or currency fluctuations. By investing consistently over time, you lower the risk of making poor timing decisions while benefiting from long-term market growth.

    This article Dollar-cost averaging with Nvidia: A long-term strategy for Canadian investors

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Canadians ditch US spirits: The shift toward local liquor highlights Canada’s exceptional distilleries

    Canadians ditch US spirits: The shift toward local liquor highlights Canada’s exceptional distilleries

    In response to ongoing trade tensions — primarily from Trump’s recent trade tariffs imposed on Canadian goods — many Canadians are choosing to buy Canadian. For local distillers, this is a chance to convince Canadians what the rest of the world may already know: We make great spirits.

    In fact, supporting homegrown distilleries has become a point of pride, with consumers opting for high-quality Canadian whisky, vodka and gin instead of US-made alternatives. Brands such as Alberta Premium, Forty Creek and Crystal Head Vodka are gaining even more traction as shoppers prioritize domestic products. With an abundance of award-winning options, Canadians are proving that their spirits industry is stronger than ever.

    Made in Canada: Canadian-made liquors to buy

    Canada offers a diverse selection of high-quality spirits across various categories, all produced domestically. Here are some notable Canadian-made liquors:

    Whisky:

    • Alberta Premium: Produced by Alberta Distillers Ltd. in Calgary, Alberta, Alberta Premium is one of the few remaining 100% rye grain whiskies in North America. It has been recognized as "Canadian Whisky of the Year" multiple times.
    • Lot No. 40: Crafted by Corby Spirit and Wine in Ontario, this 100% rye whisky is celebrated for its rich, spicy character and has garnered numerous awards.
    • Forty Creek: Located in Grimsby, Ontario, Forty Creek produces a range of whiskies known for their smoothness and complexity, often incorporating unique barrel-aging techniques.

    Vodka:

    • Crystal Head vodka: Founded by actor Dan Aykroyd and artist John Alexander, this additive-free vodka is quadruple-distilled and filtered seven times. It’s renowned for its purity and distinctive skull-shaped bottle.
    • Polar Ice: Produced by Corby Distilleries in Ontario, Polar Ice is a quadruple-distilled vodka made from Canadian corn, offering a smooth and clean taste.

    Gin:

    • Long Table Distillery: Cased in Vancouver, British Columbia, Long Table produces a variety of spirits, including their London Dry Gin, crafted from 100% Canadian grain-based spirits.
    • Monashee Spirits: Located in Revelstoke, British Columbia, Monashee Spirits’ Ethos Gin was awarded Best in Class at the Canadian Artisan Spirit Competition in 2019.

    Unique Canadian spirits:

    • Acerum: A distinctive spirit from Quebec, Acerum is an eau-de-vie made by fermenting and distilling maple syrup, offering a unique taste reflective of Canada’s maple heritage.
    • Schramm Organic potato vodka: Produced by Pemberton Distillery in British Columbia, this vodka is made from locally sourced organic potatoes, providing a rich and creamy profile.

    These selections highlight the quality and diversity of Canadian spirits, providing excellent options for those seeking domestically produced liquors. Availability may vary by region and retailer; it’s advisable to consult local liquor stores or provincial liquor boards for specific offerings.

    This article Canadians ditch US spirits: The shift toward local liquor highlights Canada’s exceptional distilleries

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • These are the big brands that actually make Costco’s Kirkland products in Canada

    These are the big brands that actually make Costco’s Kirkland products in Canada

    When Costco customers see the red and black Kirkland Signature label, they know they’re going to get a good product at a great price. But they don’t always know who’s making it.

    Many consumers may not know that store-brand products like Costco’s Kirkland are typically manufactured by third parties, not the store itself. Many of these behind-the-scenes companies are actually famous retail titans, so you can save big when you shop without losing quality.

    Key points:
    • Costco’s Kirkland brand often partners with recognizable brands like Starbucks, Bee Maid and Jelly Belly.
    • Costco’s goal is to offer competitive pricing, consistent product quality and brand-quality to members, in order to maintain customer loyalty.
    • The Costco brand, Kirkland, represents a growing portion of Costco’s overall sales, accounting for 25% of Costco’s revenue (or USD$60 billion) in 2021.

    Here are some well-known brands, a few of them Canadian, that have partnered with Kirkland to create an identical substitute for the original product, and the price differences between the two.

    Canadian companies Kirkland sources from

    1. Kirkland Signature 100% Maple Syrup

    The Maple Treat maple syrup and Kirkland Signature maple syrup
    The Maple Treat / Costco

    Multiple companies, including The Maple Treat and Citadelle, help produce this iconic Canadian delicacy for Costco. Both are major maple syrup suppliers, with The Maple Treat comprising about a quarter of the global market.

    Kirkland Signature 100% Pure Maple Syrup gets tapped from maple trees in Quebec between mid-March to mid-April. The rich amber syrup is free of additional sweeteners and flavours, according The Costco Connection, the brand’s print magazine.

    So if you’re buying Kirkland, make sure you refrigerate after opening. It’s the real stuff.

    Love Kirkland? Here’s how to buy Costco stock in Canada.

    2. Kirkland Signature Lasagna

    Zinetti Foods lasagna and Kirkland Signature lasagna
    Zinetti Foods / Costco

    This Costco-branded “ultimate lasagna” is supplied by B.C.-based Zinetti Foods, a Canadian pasta-making company that’s been around since 1985 and prepares gourmet pastas and entrees under its own name and private labels.

    The wholesaler teamed upwith Zinetti Foods in 2019 to produce its Kirkland Signature Italian Sausage and Beef Lasagna. Like its branded counterparts, the Kirkland Signature version is packed with cheese, meats and hand-layered pasta.

    If you live in Western Canada and you’d like to compare the products for yourself, just pick up a Zinetti "Meat Lasagna with 4 Cheeses" from your local Costco warehouse and try to spot the difference.

    Read More: Want to support "made in Canada" efforts but still shop at your local Costco? Here’s the rundown on Costco Canada

    3. Costco honey (hint: BeeMaid Honey)

    BeeMaid honey and Kirkland Signature honey
    BeeMaid / Costco

    Better bee-lieve it.

    Costco gets its Kirkland Signature honey from Bee Maid, one of Canada’s top honey producers. Snag a bottle of BeeMaid 100% Pure Liquid Honey from another store and see if you can taste the difference.

    More than 300 beekeepers work to harvest the sticky, sweet substance, providing a 100% Canadian product to consumers.

    4. Kirkland nut bars

    Let's Go Nuts peanut bar and Kirkland Signature nut bar
    Leclerc / Costco

    You’ll recognize this Canadian company for its bestselling Célébration butter cookies, but Leclerc Foods makes some popular nut bars, too.

    Fox Business reports that Costco developed the Kirkland Signature Nut Bars with Leclerc when almond prices dropped in 2016. Each snack box holds 24 bars made from almonds, cashews and pecans, flavoured with cocoa drizzle and sea salt.

    The Quebec-based snack food company produces cookies, crackers and snack bars, including its own Let’s Go Nuts! nut bar line.

    5. Costco soy beverage (hint: Natura Soy Beverage)

    Natur-a soy and Kirkland Signature soy
    Natura / Costco

    Whether you’re lactose intolerant, vegan or just enjoy the taste, this dairy alternative could be a delectable and inexpensive option.

    In 2017, Nutrisoya Foods Inc. — more commonly known as Natura Foods — issued a recall of Kirkland Signature Organic Soy Beverage due to swelling cartons.

    The Quebec-based company produces soy, rice and almond beverages in a variety of flavours under its Natur-a brand.

    Everything else

    6. Costco cooking oils

    Bellucci olive oil and Kirkland Signature olive oil
    Bellucci / Costco

    Costco sources its cooking oils from multiple companies all over the globe, including Certified Origins, which started as a collective of olive farmers in rural Italy that now operates in Spain and the US, as well. It markets its own brands — Bellucci and Rootie — but is responsible for some Kirkland Signature olive oils, too.

    Gerard Jara, a co-founder of Certified Origins, told The Costco Connection that Kirkland Signature olive oil is “among the freshest available” since the wholesaler can move its products so quickly.

    Additionally, Bridgewell Agribusiness LLC has provided Kirkland Signature coconut oil since 2014, while European importer Overseas Food Trading supplies other Kirkland cooking oils.

    7. Kirkland spices

    Olde Thompson black pepper and Kirkland Signature black pepper
    Olde Thompson / Costco

    At least some Kirkland Signature spices originate from “the largest manufacturer of salt and pepper mills in the world” — a European-based supplier, Olde Thompson.

    The company produces seasonings, shakers, grinders, racks and refills under multiple private labels, and you can find its own brand of spices and sets marketed through Amazon and other retailers.

    In an act of globetrotting, the pepper used in Kirkland Signature products comes from a farm in Vietnam that Olde Thompson sources its supply from, according to The Costco Connection.

    However, some of the sources for Olde Thompson spices do come from US growers and providers. To help you narrow down where to buy (and what to buy), consider the following spice map from the Old Thompson website.

    Where Olde Thompson spices come from (world map)
    Olde Thompson | About Us

    For Canadians looking to avoid buying US products, consider skipping the following:

    • garlic
    • onion
    • paprika

    Instead, look for spices with origins from Mexico, South America or Europe.

    8. Kirkland baby wipes

    Nice 'N Clean baby wipes and Kirkland Signature baby wipes
    Nice ‘N Clean / Costco

    Those hefty, nine-pack boxes of Tencel baby wipes are a staple for new parents, and with good reason.

    The Costco product is ultra-soft, fragrance-free and hypoallergenic, with 99% naturally derived ingredients.

    Wet wipe manufacturer Nice-Pak, known for brands such as Nice ‘N Clean, Grime Boss and Wet Nap, also supplies baby wipes under the Kirkland Signature label.

    9. Kirkland Himalayan Salt Potato Chips (hint: Kettle Brand chips)

    Kettle Brand Himalayan Salt potato chips and Kirkland Signature Himalayan Salt potato chips
    Kettle Brand / Costco

    It’s pretty hard to miss the massive Kettle Brand logo on those bags of Kirkland Signature Himalayan Salt Kettle Chips.

    The bags also feature Kettle Brand’s trademarked Krinkle Cut label, denoting the ruffled cut of the chip.

    Kettle Brand markets a variety of potato chip flavours, from Maple Bacon to Wasabi Ranch. It has its own version of Himalayan Salt potato chips, but it’s cooked in avocado oil and doesn’t fall under its Krinkle Cut collection.

    10. Costco prunes (hint: Sunsweet)

    Sunsweet Amaz'n Prunes and Kirkland Signature Sunsweet prunes
    Sunsweet / Costco

    Like the Kettle Brand potato chips, Costco makes no secret of its Sunsweet pitted prunes.

    The bright yellow Kirkland Signature bags come in a much bigger size, however, at 1.6 kg. Compare that to Sunsweet’s own Amaz!n Prunes line, which only offers 8 oz (0.23 kg) resealable bags and 16 oz (0.45 kg) canisters.

    Sunsweet Growers, a California-based company with the largest dried tree fruit plant in the world, produces prunes, juices and specialty dried fruit like apricots and mangoes.

    11. Kirkland pet food (hint: Diamond Pet Foods)

    Diamond Naturals dog food and Kirkland Signature dog food
    Diamond Naturals / Costco

    Websites including Dog Food Insider claim that Kirkland Signature Dog Food is actually manufactured by Diamond Pet Foods, also known as Schell and Kampeter, Inc.

    That might not be enough evidence on its own, but in 2012 the Kirkland brand was part of a recall for Diamond dry pet foods following a salmonella outbreak at Diamond’s production plant in South Carolina. Various Kirkland Signature and Nature’s Domain dog food formulas and one cat food formula were named.

    There’s been no word of a break with Diamond following the incident, and the Kirkland brand remains popular with pet lovers.

    12. Costco coffee (hint: Starbucks)

    Starbucks espresso and Kirkland Signature espresso
    Starbucks / Costco

    Even coffee snobs may be intrigued by a few of Costco’s relatively inexpensive house blends, which boast of their ties to the world’s largest coffeehouse chain.

    Kirkland offers certain varieties of its house blend with the stamp, “Custom roasted by Starbucks.”

    The two-and-a-half-pound Starbucks-affiliated bags include Kirkland’s Signature House Blend Medium Roast and Espresso Blend Dark Roast.

    13. Costco disposable cups (hint: Chinet and Big Red cups)

    Chinet cups and Kirkland Signature The Big Red Cup
    Chinet / Costco

    A staple at house parties, Costco’s giant packs of disposable red cups come from a familiar place.

    The packaging clearly bears the blue Chinet logo under “Kirkland Signature” and next to the bold title “The Big Red Cup.”

    The American company, Chinet, has produced disposable tableware such as plates, bowls and cutlery for over 90 years and sells them through other big retailers like Walmart.

    14. Kirkland motor oil

    Mag1 motor oil and Kirkland Signature motor oil
    Mag1 / Costco

    Warren Oil Company is speculated to be the manufacturer behind Walmart’s Super Tech and Amazon’s AmazonBasics motor oils, but we can confirm it supplies the Kirkland variety.

    Kirkland Signature Full Synthetic SAE 5W-30 Motor Oil displays its maker in fine print on the back of the jug: “Manufactured by Warren Distribution, Inc.”

    Warren, which claims to be one of North America’s largest independent lubricant manufacturers, markets its products around the world under several brands, such as MAG 1, and under private labels as well.

    15. Kirkland mattress (hint: Stearns & Foster mattress)

    Stearsn & Foster mattress and Kirkland Signature mattress
    Stearns & Foster / Costco

    Mattresses probably aren’t the first item on your Costco shopping list, but the company does offer a generous selection that includes Novaform and Sleep Science, as well as its own Kirkland brand.

    The Kirkland Signature mattress, however, is the result of Costco’s partnership with Stearns & Foster. The Kirkland Signature by Stearns & Foster Lakeridge Mattress uses memory foam and gel foam and comes in king, California king and queen sizes.

    The company dates back to 1846, when Seth Foster and G.S. Stearns got together to manufacture cotton goods for horse carriage upholstery. They later moved on to hotel mattresses.

    Double up on savings at Costco using a cashback Mastercard

    Costco only accepts Mastercard at its stores, so Costco members need to own and use at least one Mastercard to shop at the warehouse. To get the most of this expenditure, Costco members should consider what card to use — pick the right one for your needs and you could cash-in on cashback or quickly accumulate loyalty points. Search the Money.ca guide to the credit cards best used for Costco purchases, or check out these popular options:

    — with files from Serah Louis

    This article These are the big brands that actually make Costco’s Kirkland products in Canada originally appeared on Money.ca

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Is Kirkland Canadian?

    Is Kirkland Canadian?

    Canadians have long had a love affair with Costco, the American retail giant known for its bulk products, unbeatable deals and beloved Kirkland Signature brand.

    Kirkland is not a Canadian brand; it is the private label brand of Costco Wholesale. Costco’s headquarters are located in Issaquah, Washington, USA. The brand name "Kirkland" comes from Kirkland, Washington, where Costco’s corporate headquarters were originally located.

    However, Kirkland Signature products are widely available in Costco Canada locations, and some of their products, such as certain dairy, maple syrup and meats, are sourced from Canadian suppliers.

    During tense times, like Trump’s tariff trade wars, Costco Canada continues to offer a wide range of both American and Canadian-made goods. For shoppers who want to support Canada, shopping at Costco is still an option, if they know what and when to buy Canadian-made goods.

    To help, here’s a list of Kirkland products that are made in Canada, along with Canadian-produced products sold at Costco stores throughout Canada.

    What products sold in Costco Canada are made in Canada?

    Costco Canada offers a variety of products that are made in Canada and span multiple categories. Here are some examples:

    Food:

    • Maple syrup: Kirkland Signature 100% Pure Maple Syrup is sourced from Quebec, produced by companies such as The Maple Treat and Citadelle.
    • Lasagna: Kirkland Signature Italian Sausage and Beef Lasagna is supplied by British Columbia-based Zinetti Foods.
    • Honey: Kirkland Signature honey is produced by Bee Maid, a Canadian cooperative of over 300 beekeepers.
    • Fontaine Santé Hummus: This Canadian company offers a range of hummus products found in Costco Canada’s deli section.
    • Canadian bread and pastries: Local bakeries supply Costco Canada with bread and pastries, ensuring fresh and locally produced baked goods. For instance, many Costco locations in Eastern Canada get break and baked goods from Première Moisson, a Quebec-based bakery.

    Beverages:

    • Soy beverage: Kirkland Signature organic soy beverage is produced by Quebec-based Natura Foods.

    Dairy:

    • Oikos Greek yogurt: Oikos Canada produces Greek yogurt using Canadian dairy, available in flavours such as strawberry banana. While Oikos is owned and operated by Danone, a French company, the Oikos supplied to Costco Canada is produced and marketed by Ultima Foods, a joint venture between Cooperative Agropur and Agrifoods International. The headquarters for Ultima Foods is in Saint-Hubert, QC, although there are production facilities in Grandby, QC and Delta, BC.
    • Canadian cheese: A variety of cheeses produced by Canadian dairies are available, including cheddar, mozzarella and specialty cheeses.

    Meat and seafood:

    • Canadian beef and pork: Costco Canada offers a selection of beef and pork products sourced from Canadian farms, ensuring freshness and quality. While Costco works with various suppliers, depending on the region, a few notable suppliers include: JBS Foods Canada (formerly XL Foods), located in Brooks, AB, Harmony Beef, located in Harmony, AB, as well as Olymel, a Quebec and Alberta-based pork supplier.
    • Pickerel fillets: Purepac Lake Erie Pickerel Fillets are wild-caught and processed in Canada.
    • Oysters: Chebooktook Live Choice Oysters are harvested in Canada (fresh from the New Brunswick coast).

    Snacks:

    • Caffeinated chocolate: AWAKE Caffeinated Chocolate bars are made in Canada and available at Costco. Headquarters for the company are in Mississauga, Ontario.
    • Nut bars: Kirkland Signature Nut Bars are produced in partnership with Quebec-based Leclerc Foods.
    • Prana organic snacks: Prana, a Quebec-based company, provides a variety of organic snacks, including trail mixes and dried fruits, are available at Costco Canada.

    Clothing:

    • Loungewear: Lazypants, a Canadian lifestyle clothing brand, offers fleece joggers and crewnecks at Costco Canada.

    Read More: Costco’s Kirkland brand may have started in the state of Washington, but these days the brand partners with suppliers from all over the world. Here’s how to find Canadian products at Costco

    Please note that product availability can vary by location and over time. It’s advisable to check the product labels or consult with your local Costco for the most current information on Canadian-made products.

    This article Is Kirkland Canadian?

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Canadians are prioritizing this key money move in 2025 and are confident they will reach this milestone — are you doing the same?

    Canadians are prioritizing this key money move in 2025 and are confident they will reach this milestone — are you doing the same?

    Whether driven by customary New Years resolution plans or simply having reached a tipping point with financial frustration, paying down or eliminating debt remains the top financial priority among Canadians (17%), followed by keeping up with bill payments (16%). This is according to CIBC’s annual Financial Priorities poll.

    "Financial priorities are shaped both by ambitions and by the economic environment – and we’re seeing Canadians adapt to the current environment by learning new strategies such as creating a budget or reducing spending, to help them stay on track," Carissa Lucreziano, CIBC’s vice-president of financial planning and advice, said in a statement.

    "Prioritizing savings when costs are on the rise is challenging, but gaining insight from an advisor can empower Canadians with tailored, personalized advice and solutions to help them reach their financial goals."

    At the same time, Canadians are very optimistic about their financial goals, with 76% expressing confidence in achieving their 2025 goals.

    Canadians’ 2025 financial priorities

    Another 64% of Canadians maintain a positive outlook on their current financial situation, with only 28% having taken on more debt in the past 12 months.

    The poll also found that inflation/rising costs of household goods (66%) and high interest rates (28%) remain the top financial concerns for Canadians.

    While 65% of Canadians are worried about the possibility of a recession, over half feel prepared to weather an unexpected financial event or hardship (59%) and most feel their financial situation is secure enough to withstand a recession (53%).

    Additional findings

    The top reasons for taking on more debt include increased cost of living (44%), day-to-day expenses beyond monthly income (29%), unexpected financial emergencies (21%), new vehicle (16%) and the loss of income (14%).

    Among those currently employed, 54% are concerned about their job security given the present economic environment.

    Separately, 24% say advice to help manage the cost of living would help them feel more prepared for unexpected financial hardships.

    Ways to pay down your debt faster

    While paying down your debt can seem daunting, even anxiety-inducing, there are ways to get around this significant hurdle, smartly.

    First, it’s important to find the best approach to tackling whatever sum of debt you have, whether that’s through a something like the debt snowball or avalanche method.

    The debt snowball method involves paying off the smallest debt to the largest, and was popularized by Dave Ramsey as a way to set you up for quick wins by tackling the smallest debt first. The idea is that you’ll gain confidence and momentum by succeeding in knocking out those smaller debts, which allows you to tackle your bigger debts with enthusiasm.

    The debt avalanche method, on the other hand, reverses the order, starting with paying down your sum with the largest interest rate first.

    Which method you use to tackle your debts ultimately depends on your personality and preferences — if numbers matter the most to you, and you want to be sure you are maximizing every dollar you allocate toward your debt, pick the avalanche method. However, if you’re privvy to paying off and closing your smaller accounts, the snowball method might suit you well.

    Try debt consolidation

    If you have high-interest debt like credit card debt, consider a promotional balance transfer offer to reduce your interest rate to as close to 0% as possible. Make sure you only transfer an amount that you are confident you can pay off during that promotional period, as interest rates on your newly consolidated debts will increase after the promotional period ends.

    Another approach is to consolidate debts into a large, low-interest loan — but just be mindful to not let history repeat itself and avoid running up any new debt.

    Try a budgeting app

    If you need to find a way to allocate funds to debt payment but also afford everyday necessities like groceries and rent, a budgeting app can help divvy up your money in a more meaningul manner.

    Thankfully, there are plenty of options on the market to help make the most of your finances — check them out here.

    Survey methodology

    The findings are from an Ipsos poll conducted between Nov. 27 and Dec. 2, 2024 on behalf of CIBC. For this survey, a sample of 1,500 Canadians aged 18 and over were interviewed online, with participants sourced from the Ipsos panel.

    This article Canadians are prioritizing this key money move in 2025 and are confident they will reach this milestone — are you doing the same?

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Shop Canadian: Support local retailers and strengthen the Canadian economy

    Shop Canadian: Support local retailers and strengthen the Canadian economy

    During the Trump tariff war, Canadians face an important choice: Where to spend their hard-earned money. While US retailers may seem tempting, supporting Canadian businesses is more crucial than ever. With tariffs driving up costs on imported goods, shopping at Canadian retailers helps protect the economy, sustain local jobs and keep prices stable.

    How shopping at US retailers helps the American economy

    When Canadians shop at US retailers, they indirectly support an economy that’s imposing unfair trade policies on their own country. Buying Canadian ensures that dollars stay within the local economy, strengthening domestic industries rather than benefiting businesses that may not have Canada’s best interests at heart. Supporting Canadian retailers also fosters economic independence, reducing reliance on US imports that could be subject to further tariffs or supply chain disruptions.

    A patriotic argument for shopping at Canadian retailers

    Moreover, Canadian retailers are better equipped to serve Canadians. They understand the needs of local consumers, provide more reliable supply chains and often offer products specifically designed for Canada’s climate and market. Shopping domestically also means avoiding hidden costs like currency exchange rates, import duties and cross-border shipping fees that can make US purchases more expensive than they appear.

    Beyond economics, supporting Canadian retailers is about national resilience. By investing in homegrown businesses, Canadians send a message that they stand with their country’s industries and workers. In times of economic uncertainty, solidarity matters. Choosing Canadian retailers over US alternatives is not just a smart financial decision — it’s a patriotic one.

    Where to shop: Buy Canadian at these large retailers

    Canada boasts several homegrown retailers that effectively compete with large American chains such as Costco and Walmart. Here are some notable Canadian-owned retailers:

    1. Loblaw Companies Limited

    Loblaw is Canada’s largest food retailer, operating numerous supermarket banners across the country. Key subsidiaries include:

    • Real Canadian Superstore: A hypermarket chain offering a wide range of products, including groceries, electronics and apparel.
    • No Frills: A discount supermarket focusing on low-priced grocery items.
    • Maxi: A Quebec-based discount grocery chain.

    2. Sobeys Inc.

    Sobeys is a national grocery retailer operating various banners, such as:

    • FreshCo: A discount supermarket chain offering fresh produce and groceries at competitive prices.
    • Safeway: Operating primarily in Western Canada, providing a full-service supermarket experience.

    3. Metro Inc.

    Metro operates in Ontario and Quebec, with several banners under its umbrella:

    • Super C: A discount supermarket chain in Quebec.
    • Food Basics: A discount grocery store chain in Ontario.

    4. Dollarama

    As Canada’s leading dollar store chain, Dollarama offers a wide range of products at low prices, including household items, groceries, and seasonal merchandise.

    5. Giant Tiger

    Giant Tiger is a discount retailer offering affordable clothing, groceries and household goods across its over 260 stores nationwide.

    6. London Drugs

    London Drugs, a Canadian retail pharmacy chain, is owned by H.Y. Louie Co. Limited, a family-run enterprise based in British Columbia. The company was founded in 1903 by Hok Yat Louie, who established a general store in Vancouver. In 1976, under the leadership of his son, Tong Louie, H.Y. Louie Co. acquired London Drugs, marking the company’s expansion into the drugstore sector.

    Bottom line

    These Canadian-owned retailers provide diverse shopping options, catering to various consumer needs and preferences, and stand as strong competitors to American retail giants operating in Canada.

    This article Shop Canadian: Support local retailers and strengthen the Canadian economy originally appeared on Money.ca

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.