Briefly:

Previous Brieflies this week: | MON | TUE | WED | THU |

CIBC is gearing up for last minute RRSP contributions, with a focus on financial advice. While the goal is clearly to gather assets for its in-house advisors, everyone can benefit from a campaign extolling the virtues of advice.

“For those who are just starting to think about investing their money, an important first step is to consult a professional,” said Steve Geist, president of CIBC Asset Management. “An experienced financial advisor can help you build a plan tailored to your individual goals, timeline, budget and tolerance for risk and can help you select the investment solutions that best suit you.”

The bank is urging Canadians to follow six simple steps toward financial security:

• Have a plan: knowing where you’re heading it key to getting there • Get started today: put the plan into action. For young investors, time is an ally • Always take taxes into account: hold investments in the right account for maximum tax efficiency • Contribute regularly: its easier to contribute small amounts throughout the year than to contribute one large sum • Understand risk and diversify: build a balanced, well-diversified plan adjusted to meet your own level of risk tolerance • Give your investments a chance to grow: avoid withdrawing funds from your investments to pay down short-term debts

“Remember that your investment advisor is your greatest resource and ally as you look to grow your assets and achieve your financial goals,” Geist says. “Having a dedicated professional watching out for your best interests can help take some of the mystery and pressure out of investing.”

• • •

BMO launches nine new ETFs

BMO Financial Group has launched nine new exchange traded funds, bringing its total ETF offering shelf to 22. The new funds began trading on the TSX today.

The new ETFs include:

• BMO Mid Corporate Bond Index ETF • BMO Long Corporate Bond Index ETF • BMO Aggregate Bond Index ETF • BMO Global Infrastructure Index ETF • BMO China Equity Hedged to CAD ETF • BMO India Equity Hedged to CAD ETF • BMO Equal Weight Utilities Index ETF • BMO Nasdaq 100 Equity Hedged to CAD ETF • BMO Junior Gold Index ETF

BMO ETFs are managed and administered by Jones Heward Investment Counsel Inc., a wholly-owned indirect subsidiary of Bank of Montreal.

“We’re very excited about this expansion to our line-up, which gives investors greater access to more specific segments of the market,” said Rajiv Silgardo, CEO and co-CIO of Jones Heward Investment Counsel. “We now have an even broader suite of products to ensure our clients have a choice of investment tools for proper diversification, liquidity, risk control and cost effectiveness.”

• • •

Empire Life ‘realigns’ portfolio managers

The Empire Life Insurance Company has announced changes to its lineup of portfolio managers, although investment objectives will remain unchanged.

“I am confident that the changes we’ve made will allow us to best capitalize on the collective strengths and expertise of every member of the Empire Life Investment Team,” says Gaelen Morphet, senior vice-president and chief investment officer.

Lieh Wang will take over as lead manager of the Empire Dividend Growth Fund. Wong was also named co-manager of the Empire Elite Equity Fund, with Gaelen Morphet.

Morphet will also serve as co-manager of the Empire Asset Allocation Fund, with Nessim Mansoor.

Jane Halliday has been named lead manager of the Empire Global Dividend Growth Fund, with Amber Sinha named as co-manager.

The Empire Balanced Fund, Empire Global Balanced Fund, Empire Income Fund and all Portfolio Funds will be managed by the Empire Life Investment Team.

(01/25/10)