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Mackenzie Financial has named the winner of its 2010 Top Teen Philanthropy Search. Sixteen-year-old Darren Cole, of Toronto, was recognized for his work with Food Banks Canada, which will receive a $5,000 donation in his name. Cole also receives $1,000 personally. “Once again, our contest has demonstrated that Canada’s younger generation have big hearts,” says […]
By Staff |December 29, 2010
2 min read
Desjardins Financial Group has struck a deal to acquire Western Financial Group, the largest insurance and financial services retailer in Western Canada, for $443 million. Desjardins is paying a 70% premium to Western Financial’s closing share price on the TSX on December 22, 2010. “This transaction will allow us to accelerate our business development in […]
By Steven Lamb |December 29, 2010
1 min read
For over ten years now, the Financial Advisors Brokerage (FAB) Group has looked outward for support services like IT or advertising, and even for some practices—like tax and legal services—more closely tied to their core business.
By Terri Goveia |December 23, 2010
8 min read
The countdown has begun. The CRA website is reminding taxpayers that ‘charitable donations must be made by December 31, 2010 in order to qualify for a tax credit in the 2010 tax year.’ For advisors this may be a good time to discuss charitable giving with their clients. “Every time there’s a tax situation, there’s […]
By Vikram Barhat |December 22, 2010
3 min read
VenGrowth is still on the market. At a fairness hearing last Friday in Toronto both the court and the Ontario Securities Commission rejected Covington Fund’s bid for the firm, largely due to poor disclosure practices, forcing the boards of both companies to terminate the acquisition agreement. The decision is a boon for David Levi, president […]
By Sheila Avari |December 22, 2010
Mergers and acquisitions activity in Canada continues its slow but steady progress as another number gets added to its 2010 tally. A recent federal regulatory approval made it possible for Waterloo-based FaithLife Financial to acquire U.S.-based Woman’s Life. Effective January 1, 2010, FaithLife Financial, a not-for-profit, member-based financial services organization, assumes direct responsibility for all […]
The Autorité des marchés financiers (AMF) has launched penal proceedings against Hooshang Imanpoorsaid and is seeking fines totalling $376,000. The AMF alleges that Hooshang Imanpoorsaid illegally pursued activities as a securities dealer on 19 occasions and made 13 illegal distributions, mainly debt securities bearing an interest rate of as high as 18%. The AMF further […]
December 22, 2010
Katharine B. Stevenson is joining the CIBC Board of Directors. Stevenson’s appointment will begin on January 1, 2011.
By Staff |December 21, 2010
To many Canadians, a New Year’s resolution is something that goes in one year and out the other. And that’s perhaps why their health problems last longer than their New Year’s resolutions, as the recent Sun Life Financial study found. One of the key findings from the online survey, which included 1,586 adults, revealed that […]
By Vikram Barhat |December 21, 2010
Investors Group has launched a new fixed income mandate, the Investors Fixed Income Flex Portfolio, which aims to provide current income by investing in a diversified set of underlying funds that invest primarily in fixed income securities. “Fixed income holdings are a critical component of an investor’s overall portfolio strategy and this new Portfolio is […]
By Staff |December 20, 2010
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