Briefly:

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

(June 18, 2007) Wellington West has announced it has hired 15-year financial industry veteren Dennis Stewner as its new chief financial officer.

Based in Winnipeg, Stewner is coming from Momentum Healthware, where he was the executive vice-president and chief operations officer. He was responsible for all operational and financial functions. He’s also held senior finance positions within Assante Corporation, including vice-president, wealth management services; vice-president, finance; and CFO.

“Dennis will hit the ground running and will be instrumental in preparing us for our planned initial public offering,” said Kishore Kapoor, president of Wellington West Holdings Inc. “The addition of an individual of Dennis’s high calibre and experience, with both private and public companies in our industry, has us well positioned going forward.”

• • •

Written financial plan keeps clients happy

(June 18, 2007) Having a formal financial plan can increase your happiness, says J.D. Power and Associates.

The company released its Canadian Full Service Investor Satisfaction Study Monday, which found that while only 30% of investors have a written financial plan, the ones who do have something on paper are more satisfied with their investment firm than those who don’t.

“Having a clear, formally written financial plan in place is not only beneficial to the investors but also to the investment firm, as it gives them a much better idea of the expectations and financial goals of their customers,” said Charles Schade, senior director of research at J.D. Power and Associates. “Sitting down and developing a plan is also one key way to build the relationship between the advisor and investor, as interaction with the financial advisor has the most significant impact on overall satisfaction with a firm.”

Edward Jones topped the satisfaction study with an index score of 791 points out of 1,000. The report says the company performed especially well in the investment advisor/team, investment performance, account statements and account setups and offerings categories.

TD Waterhouse Private Investment Advice was a close second with 774 points, getting high marks for convenience. ScotiaMcLeod ranked third with 766 points.

Overall, the industry improved by 763 points, up 15 from 2006. The increase is due to satisfaction with banking-associated firms.

“It is important to note that at nearly 60 months, we’re currently in the longest-running bull market Canada has seen in recent decades,” said Schade. “Performance plays an integral role in driving overall satisfaction, and customers who are feeling positive about their investments are generally happier. However, across the board, the investment arms of the banking institutions have been doing a better job of listening to their customers and being more attentive to their needs.”

• • •

Bissett launches new energy fund

(June 18, 2007) Energy remains a hot topic these days, and investors continue to clamour for exposure to the energy sector. To capitalize on that demand, Franklin Templeton Investments has announced the launch of the Bissett Energy Corporate Class, a new fund for people who would “like direct exposure to the Canadian energy sector.”

“Canada is an energy leader,” said Don Reed, president and CEO of Franklin Templeton. “Increasing energy demand in the face of declining world supply means attractive long-term investment opportunities for the Bissett team.”

The fund will hold between 25 and 35 securities that focus on exploration, production, refining, marketing and transportation of energy.

Bissett’s vice-president and director of equity research, Garey Aitken will co-lead the fund with Chris Fernyc, also a vice-president at Bissett.

Franklin Templeton also announced that a new Series T fund class will be added to the company’s tax-efficient fund series. In a release, the company said that the new classes are “ideal cash flow solutions for investors.”

The payments consist mostly of return on capital and aren’t for designated income for tax purposes. Franklin Templeton’s global growth portfolio, U.S. rising dividends fund, mutual discover fund and mutual beacon fund will all offer the new Series T fund class.

• • •

BMO launches LifeStage Plus

(June 18, 2007) BMO Financial has announced the launch of the BMO LifeStage Plus Funds, an investment product similar to a life cycle fund but with additional downside protection.

Like a typical life cycle fund, BMO’s offering has a “target end date,” or maturity. As the end date nears, the fund automatically becomes more conservative in order to preserve its assets. “This helps investors take advantage of market growth opportunities early on…while protecting the value of the fund as it gets closer to maturity,” said BMO in a release.

LifeStage funds will also include a “daily lock-in feature,” which gives investors the highest daily value during the life of the fund as long as they stay fully invested until maturity.

The fund is exposed to a variety of mutual funds during the course of its life, including the BMO Dividend Fund, BMO U.S. Equity Fund, BMO International Equity Fund and the BMO Monthly Income Fund.

The company says that the asset mix will be monitored on a daily basis and, depending on market conditions and proximity to its end date, that mix will change.

• • •

(06/18/07)