Now that the "No" vote has slipped by and Mr. Parizeau has left the political scene, the markets have reacted very favourably to Quebec remaining within Confederation. This has resulted in an upswing in Canadian stock market investments.

By continuing to be patient and calm, Fraser Financial Group clients have benefited from a conservative strategy and a properly diversified RRSP portfolio. Fraser Financial's style is to manage client assets conservatively with an equal emphasis on return enhancement and risk control. In consultation with our clients, we pick mutual fund managers whose historical results have earned our respect. By adopting a strategic long-term plan and not panicking over short-term issues such as the Quebec Referendum, clients will have the best opportunity to attain their ultimate financial goals.

As your independent financial advisors, we pride ourselves on careful mutual fund selection within a diversified approach.

For example, our recommended Canadian balanced fund has had the lowest level of volatility (risk) of any Canadian balanced fund (Financial Times Bellcharts, October 1995). At the time of the Referendum, this fund held 38% of its portfolio in cash. (Another better known fund held only 8% in cash.) Had the "Yes" vote squeaked through, those clients that took our advice to have the majority of their money nested here would have been exposed very little to a downturn in mutual fund performance.

With a "Yes" vote, the Canadian dollar would surely have fallen. Since this fund is bullish on Canadian exporters, a fallen dollar would have enhanced the price of exporters' products (and their share value) in a competitive world marketplace.

The uncertainty on the Toronto Stock Exchange the week prior to the Referendum also offered "contrarian" fund managers opportunities to buy stocks at bargain prices by remaining patient and using the long-term approach. The success of the approach taken by Larry Kennedy (manager of the Guardian Canadian Balanced Fund) is proven by the fact that he has not lost money any year in the last 10 years, including during the great stock market correction in October of '87.

Patience, diversification and maintaining a long-term perspective on investment performance should be the cornerstone of any sound financial plan. Remember, falling markets present buying opportunities. Greed or panic should not sidetrack you from your long-term financial plan.

Make sure your financial advisor understands you, so that at all times you are working within your comfort zone. Then he or she can assist you with mid-course adjustments to your financial plans to make sure your long-term goals will be achieved with a minimum of uncertainty.