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Nicola Wealth Management (NWM) has announced that, after adding $150 million in assets in 2009, it has reached $1 billion in assets under management.

“Much of our recent growth has come as a result of client satisfaction,” said David Sung, president of Nicola Wealth Management. “Almost 75% of new business is coming through referrals from existing clients and advisor partners such as accountants and lawyers.”

Much of this client satisfaction is due to the fact that many NWM clients managed to avoid taking massive losses in 2008. NWM clients saw average losses of 6.5% compared to the nearly 40% drops seen in equity markets that year.

According to Investor Economics, NWM was the second-fastest growing mid-sized firm ($350 million to $1 billion in assets under management) in Canada in June of 2009.

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Jantzi Social Index beats broad markets

Jantzi-Sustainalytics announced that, in the month of March, the Jantzi Social Index (JSI) increased in value by 5%, beating out both the S&P/TSX Composite Index and S&P/TSX 60 Index, which gained 3.81% and 4.11%, respectively.

The financials sector made the largest positive contribution to the JSI in the month of March, while the information technology sector made the largest negative contribution.

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TD releases mobile app

TD’s free mobile app is now available for download from the App Store on iPhone and iPod touch. The app offers the user access to banking, insurance and wealth management from their handheld devices.

“TD has more than four million online banking users and 850,000 WebBroker clients, so as the demand for smartphones grows, this is a natural evolution for us,” said Paal Kaperdal, senior vice-president, online channel at TD. “TD’s new app is our initial venture and we will continue to enhance our offering with new features and for additional devices in the months ahead.”

Highlights of the TD mobile app include the ability to connect with TD Waterhouse agents to access market quotes, open accounts or place trades; the ability to offer secure online banking to both private and small business customers; and a built-in Accident Toolkit from TD Insurance with a to-do list in the event of an auto accident. The toolkit includes an Accident Notepad to record details on an accident to streamline any related auto insurance claims.

For more information, visit tdmobileapp.com/demo.

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Manulife Bank names new president, CEO

Doug Conick has been names to succeed J. Roman Fedchyshyn as president and CEO of Manulife Bank of Canada. Conick plans to focus on continuing to grow Manulife Bank through its mandate of helping Canadians merge their everyday banking with their investment strategies.

“Now, more than ever, Canadians need trusted financial advice and banking solutions that allow them to better manage the debt side of their balance sheets, improve their cash-flow and make their savings work harder for them,” said Conick. “Remaining focused on service, product innovation and strengthening Manulife Bank’s brand will help more advisors incorporate banking into their financial plans and grow their businesses.”

Conick joined Manulife Financial in 1998, moving to Manulife Bank in 2008 to serve as vice-president of sales, marketing and product development. Manulife Bank is currently Canada’s eighth-largest bank with nearly $16 billion in assets under management.

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SEAMARK Asset Management moves mutual funds

SEAMARK Asset Management Ltd. and Mavrix Fund Management Inc. have announced that Mavrix will serve as the new manager and trustee of the SEAMARK family of mutual funds. Both companies are subsidiaries of Matrix Asset Management, so this change does not require the approval of unitholders or securities regulators of the funds involved.

Three SEAMARK funds will be affected by this transaction: the SEAMARK Dividend & Income Fund, the SEAMARK Canadian Equity Fund and the SEAMARK North American Equity Fund. There will be no changes to the funds’ portfolio management teams or their investment strategies.

The proposed transaction is expected to be complete by July of this year.

(04/16/10)