Making home ownership a reality for Canada's physicians and their families: MD Management Limited (MD) launches the MD First Home Savings Account

The MD First Home Savings Account represents an opportunity for MD clients to save for their first home.

OTTAWA, ON, July 6, 2023 /CNW/ - MD Management Limited launched the MD First Home Savings Account (MD FHSA), an investment account that combines some of the favourable tax treatment and features of both a registered retirement savings plan (RRSP) and tax-free savings account (TFSA).

Available through MD Plus™, the MD FHSA provides numerous opportunities for Canada's physicians and their families, including:

• Combining an FHSA with the Home Buyers' Plan within their RRSP for a bigger down payment.
• Transferring savings tax-free to an RRSP if the MD FHSA is not used to purchase a home within 15 years of opening the account.
• Helping family or loved ones save for their first home via intergenerational wealth transfer.

"Physicians start their careers later than the average Canadian due to many years of schooling and the MD FHSA will help them save quickly for their first home purchase," said Pamela Allen, CEO of MD Financial Management. "An MD FHSA is a valuable tool to incorporate into overall financial planning discussions with our clients. This is the value our Advisors bring to physicians and their families — helping them make sense of, and advising on, solutions tailored to their needs."

To learn more about the MD FHSA, please call MD Client Services at 1 800 267-2332 or visit md.ca.

About the MD Financial Management Inc. Group of Companies

With more than 50 years of physician-focused experience, MD Financial Management Inc. (MD) is dedicated to providing financial peace of mind to Canada's physicians and their families, so they can enjoy what matters most to them while achieving their career and life goals. MD had more than $53.5 billion in assets under management as of May 24, 2023. MD Management Limited was the first of the MD Group of Companies to be founded, in 1969. MD Financial Management Inc. wholly owns MD Management Limited. MD Financial Management provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies. For a detailed list of these companies, visit md.ca.

SOURCE MD Financial Management Inc.

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