Industry

Decorative pattern

Briefly:

Financial planners in Hungary, Russia and, soon, Bulgaria, are now able to use Canadian-made planning software from PlanPlus. The expansion into Eastern Europe comes on the heels of tighter compliance standards in the region. “We were able to translate the software and work with PlanPlus to ensure the asset allocation, taxes and other rules for […]

By Staff |July 16, 2010

3 min read

Decorative pattern

CIFSC announces fund category changes

Modifications are coming to the fund category schema courtesy of the Canadian Investment Funds Standards Committee (CIFSC). The first major change is that the International Equity fund category definition is shifting and will require funds to invest at least 90% of their equity assets in countries other than Canada and the United States. That’s down […]

By John Powell |July 15, 2010

2 min read

Decorative pattern

Global HNW clients suspicious of advisors

Despite the occasional trickle of positive economic data and hints the global economy is on the mend, Merrill Lynch Wealth Management’s World Wealth Report 2010 suggests trust remains an issue for high net worth individuals (HNWI) — on all levels. According to the survey, only 59% of HNWIs have regained trust in their advisors, and […]

By Nancy Turner |July 15, 2010

3 min read

Decorative pattern

Briefly:

TD Asset Management has announced a portfolio adviser change for the TD International Equity Growth Fund, following the proposed takeover of its current advisor. On July 13, 2010, Old Mutual (US) Holdings announced its intention to acquire the international equity portfolio management team for the fund from Invesco Advisers, Inc. Under the proposed deal, that […]

By Staff |July 15, 2010

2 min read

Decorative pattern

Briefly:

AlphaPro Management has announced the listing an ETF that will track the recently created S&P/TSX 60 Equal Weight Index. The Horizons AlphaPro S&P/TSX 60 Equal Weight Index ETF begins trading today on the TSX under the symbol HEW. The Equal Weight Index is comprised of 60 of the largest and most liquid stocks listed on […]

By Staff |July 14, 2010

3 min read

Decorative pattern

National regulator faces tough hurdles

The release of the Canadian Securities Transition Office’s plan for a new national regulator on Tuesday led to inevitable press releases and editorials debating where a national headquarters would be located — or even if one should exist. But such discussions are a bit of a red herring, according to Alfred Page, partner and regional […]

By Steven Lamb |July 14, 2010

4 min read

Decorative pattern

Lack of awareness hampers RESP

Poor awareness and understanding of Canada’s registered education savings plan (RESP) program are keeping participation low, according to a Certified General Accountants Association of Canada (CGA-Canada) report. “Canada’s RESP program provides families with a relatively secure savings option dedicated specifically to education,” says Rock Lefebvre, CGA-Canada’s vice-president, research and standards. “In fact, due to refinements […]

By Staff |July 13, 2010

2 min read

Decorative pattern

National regulator would be decentralized: CSTO

For a national securities regulator, the proposed Canadian Securities Regulatory Authority (CSRA) bears an uncanny resemblance to the current system of Balkanized regulation. The Canadian Securities Transition Office (CSTO) has issued its transition plan for the creation of the contentious regulator, and decentralization appears to be the key. Intended to provide consistent protection to investors, […]

By Steven Lamb |July 13, 2010

3 min read

Decorative pattern

Briefly:

Canadian mergers and acquisitions activity quickened in the first half of the year, although overall deal value plummeted, according to a report from The Mergermarket Group. The value of Canadian deals fell 30% from the same period last year to US$29.6, the New York-based group said. The first six months of 2010 saw the lowest […]

By Staff |July 13, 2010

3 min read

Decorative pattern

Doubt and designations

The recent spotlight on financial products hasn’t been limited to complex mortgage-backed products. Insurance-based products have had their share of recent attention, especially when it comes to beneficiary designations. Several court cases involving beneficiary designation disputes underscore the importance of reviewing these designations and ensuring that they are up-to-date and in accordance with a client’s […]

By David Wm. Brown |July 12, 2010

9 min read

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