Briefly:

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

Sprott Inc. has appointed Kevin Bambrough as president and James Fox as president of subsidiary for Sprott Asset Management.

In addition to helping run the larger corporation, Bambrough will continue as president and CEO of Sprott Resource Corp., a publicly traded company on the Toronto Stock Exchange, and as market strategist with Sprott Asset Management.

Fox has been promoted from senior vice-president of sales and marketing with Sprott Asset Management.

“Kevin and James have been long-time members of our team and important contributors to the growth and success of our company,” says Eric Sprott, CEO of Sprott Inc. “Their commitment, experience and unique skill sets made them the natural choices to step into these leadership positions.”

These appointments support the recent reorganization of Sprott Asset Management into three distinct businesses: Sprott Asset Management L.P., Sprott Private Wealth L.P., and Sprott Consulting L.P.

• • •

Good intentions, but little money for charity: Report

Most Canadian boomers (82%) plan to increase or maintain their level of charitable giving in the next five years and the majority say they would do so regardless of the economic climate. However, half of the respondents are only “somewhat satisfied” with their current way of giving, according to a new report released today by the BMO Retirement Institute.

The report entitled ‘The Evolution of Giving: From Charity to Philanthropy’, shows that boomers today want to be involved [in their communities] and want to have some control over how their contributions are utilized. Unlike their parents, who have tended to bequeath their donations, boomers are giving during their lifetimes, so that they can see what impact their donations are making.

Only 1% of respondents said they involve a financial advisor in charitable donation planning.

“To make the impact boomers crave, giving requires as much planning as saving does,” says Tina Di Vito, director, retirement strategies with BMO Financial Group. “A financial advisor can assist in making informed charitable decisions and to ensure that those dreams are realized — during their lifetime and in perpetuity.”

This is a definite shift in attitude, according to Di Vito.

“Boomers—who represent nearly one in three Canadians—could be the generation who leads the way to social change, spearheading the transition from a nation of charitable givers [that] just writing cheques to worthy causes &#151 to a nation of engaged and long-term philanthropists.”

• • •

Richardson GMP created

GMP Capital Inc and James Richardson & Sons, Ltd. (“JRSL”) have successfully completed the transactions that resulted in the combination of their respective wealth management businesses — GMP Private Client L.P. and Richardson Partners Financial &#151: to create Richardson GMP Limited.

Concurrently with this closing of the transaction, which was announced back in July, investment advisors and members of Richardson’s Partners Financial’s management team collectively subscribed for $87 million in GMP common shares.

GMP and the Richardson Financial Group Ltd. each own a 35% ownership interest in Richardson GMP, with the remaining 30% ownership interest held by Richardson GMP’s investment advisory and management teams.

(11/12/09)