Industry

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Annuities swept up in SEC fund fee proposal

The SEC thinks mutual fund 12b-1 fees have gotten out of hand, and is proposing new rules to limit them and provide greater disclosure for investors. The SEC’s 278-page 12b-1 proposal could also impact the use of distribution fees in the mutual funds in variable annuity subaccounts. “When it comes to 12b-1 fees, there is […]

By Alan Prochoroff |July 29, 2010

4 min read

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Retirement taking a backseat to present: BMO

Why are Canadians dragging their feet when it comes to retirement planning? BMO says the answer can be found inside their minds. Using behavioural finance research, the bank believes it has uncovered clues as to why Canadians are procrastinating the way they are. A report from BMO Retirement — entitled Retirement Planning: Can I Get […]

By John Powell |July 29, 2010

2 min read

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Waterloo-based Sarona Asset Management has announced its Sarona Risk Capital Fund has become an anchor investor in the MicroVest Short Duration Fund, the first North-American based microfinance liquidity fund available to private investors. “We believe our investment in the MicroVest Short Duration Fund will allow institutional investors, non-profit organizations and foundations the ability to invest […]

By Staff |July 28, 2010

1 min read

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Beware the ‘Austerians’: GMO’s Monteir

The world is witnessing a worrying trend: the rise of the “Austerians.” The term refers to policymakers bent on reducing government spending, according to James Montier, a member of the asset allocation team of GMO, a Boston-based global investment management firm. “This breed is the latest incarnation of what used to be called the deficit […]

By Vikram Barhat |July 28, 2010

2 min read

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Aston Hill Financial has announced the appointment of Mike Killeen as chief operating officer, making him responsible for growing the company’s mutual fund and structured financial products business. Prior to joining Aston Hill, Killeen was an executive vice-president with Davis + Henderson Income Fund, senior vice-president and general counsel with CI Financial for 13 years. […]

By Staff |July 27, 2010

1 min read

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FPSC announces June exam results

The Financial Planning Standards Council has announced the results of the June 2010 examination for the Certified Financial Planner designation. Of the 2,208 individuals who wrote the exam, 45.5% passed. Those who were taking the exam for the first time had an even higher pass-rate, at 50.2%. “The June administration had the highest number of […]

By Staff |July 26, 2010

1 min read

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The federal government is reminding Canadians who received a letter requesting more information about their Tax-Free Savings Account, that the deadline to reply is August 3. “Our government has made the decision to be as flexible as possible by waiving taxes on excess contributions for the first year of the program where a genuine misunderstanding […]

By Staff |July 26, 2010

2 min read

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Advisors share their favourite mobile apps

BlackBerry buffs or iPhone fanatics, financial advisors are doggedly devoted to their smartphones. Although merely a means of communication, these devices turn into fix-all toolkits when appropriate applications are added to their functionality. Between the two, they share an army of applications that ostensibly take the legwork out of a plethora of day-to-day tasks. Advisor.ca […]

By Vikram Barhat |July 26, 2010

4 min read

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IIROC settles with Grant Louis Gaudet

A Hearing Panel of the Investment Industry Regulatory Organization of Canada has accepted a settlement agreement, which includes sanctions, between Grant Louis Gaudet and IIROC staff. Mr. Gaudet has agreed to pay a fine of $20,000 for his misconduct and $4,000 toward the costs of the proceedings. In addition, he has agreed he must successfully […]

By Staff |July 23, 2010

1 min read

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VentureLink has received shareholder approval for the merger of four of labour-sponsored investment funds it manages. The VentureLink Balanced Fund, VentureLink Brighter Future Fund, VentureLink Diversified Income Fund and VentureLink Financial Services Innovation Fund will be combined into a new fund to be called VentureLink Innovation Fund, subject to final board and regulatory approval. “This […]

By Staff |July 23, 2010

1 min read

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