A firm voice speaks out in the latest issue of Advisor’s Edge

(February 27, 2004) Have you ever wanted to corner the head of a mutual fund company and grill him on the future of the industry?

In the mid-February issue of Advisor’s Edge, editor Darin Diehl had a chance to do just that with William Holland, president and CEO of CI Funds — getting Holland’s thoughts on competition, consolidation and compensation in the world of mutual funds.

“Given the scandals of the mutual fund industry in the U.S., we decided he would be a perfect candidate to throw some tough questions at,” says Deanne Gage, managing editor of Advisor’s Edge. “He’s very frank in his answers. Diehl asked him if this is still a great industry to be in and he said, ‘No, it’s a good industry and there’s a difference’.”

Holland says it is still a good business to be in, but it now takes more hard work to make money.

“CI has been really aggressive lately — they bought Assante, and they’ve also tried to be more aggressive in the area of structured products, realizing that mutual fund sales are down and that structured products are what clients want right now,” says Gage.

Also in this issue, the “My Edge” feature casts the spotlight on Brian Ward of By Design Financial in Markham, Ontario.

“Ward’s strategy is to really focus on customized solutions for clients, as opposed to lumping a client into a preset plan,” says Gage. “He works with a lot of career-oriented women, who he says tend to be very process-oriented as well. They tend to think things through and are more focused on the big picture, rather than on the short-term.”

There are also several columns from top conference speakers who appeared at the 2003 Advisor Forum, including a story about reducing after-death taxes by Tim Cestnick.

“His column looks at death and taxes, including testamentary insurance trusts and the concept of after-tax investment returns,” says Gage. “He does a really great job of writing about taxes in an easy, digestible way. They’re good articles to pass on to clients.”

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Filed by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com