Industry

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Industry speaks out against federal tax plan

The federal government’s plan to amend the Excise Tax Act, including the definition of “financial services,” is causing a stir within the industry. The proposed changes could see GST charged on broker commissions and the continued inclusion of discretionary management services. Discretionary investment management fees have been subject to GST since 1991, while broker commissions […]

By Steven Lamb |March 29, 2010

2 min read

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Now that your clients are focused on filing their taxes, it might be time to consider what they should do with their tax refund. RRSP contributions, credit card balance reduction and effective management of mortgages are but a few ways to maximize tax returns. A report from BMO says that in 2009, Canadians on average […]

By Staff |March 29, 2010

4 min read

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Clever e-mails try to cover insider trading

Blog Polls I’ve read a lot of Securities and Exchange Commission complaints over the years and, every once in a while, one stands out. The Commission’s March 24th complaint against Igor Poteroba, an investment banker who worked in the UBS Securities Global Healthcare Group is one such document. Filed in U.S. District Court for the […]

By Philip Porado |March 26, 2010

1 min read

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Ontario must support Toronto financial services: TFSA

The Toronto Financial Services Alliance (TFSA), a public/private initiative to improve Toronto’s competitiveness, is eager to work with governments to make Toronto a leader in the global financial industry. Janet Ecker, president of TFSA, welcomes the provincial budget while confirming the group’s commitment to help Toronto grow as a financial services hub. “Having the Ontario […]

By Vikram Barhat |March 26, 2010

2 min read

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Mackenzie embarks on executive search

Mackenzie Financial’s message couldn’t be more clear, following the announcement earlier this week that David Feather, president of Mackenzie Financial Services Inc., was leaving the company. “It’s business as usual,” says Charles R. Sims, president and CEO of Mackenzie Financial Corp. and Mackenzie Inc. “We won’t miss a beat.” Sims says the company is assessing […]

By Steven Lamb |March 26, 2010

2 min read

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Avoiding financial service fees

The Financial Consumer Agency of Canada knows how much everyone hates financial service fees. Credit cards and debit card charges in particular can put a sizeable dent in anyone’s wallet or bank account. To help consumers make informed decisions, the FCAC offers the following tips you can use to keep financial service fees in check […]

By John Powell |March 26, 2010

2 min read

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SEI has announced the launch of two new Canadian-focused asset allocation funds — the Canadian Focused Balanced and Canadian Focused Growth Funds. The funds invest in Canadian equities and fixed income, while limiting foreign investment. “The new Canadian-focused asset allocation funds demonstrate SEI’s commitment to meeting the needs of Canadian investors,” says Janesse McPhillips, managing […]

By Staff |March 25, 2010

2 min read

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Private equity primed for comeback

Contrary to suggestions by naysayers, the global private equity industry weathered the great recession rather stoically, and is now poised to see a marked increase in activity going forward, says David M. Rubenstein, cofounder and managing director of The Carlyle Group, one of the world’s largest private equity firms. As the keynote speaker at the […]

By Vikram Barhat |March 25, 2010

5 min read

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Sun Life Financial has teamed up with National Bank to offer a bundled-service banking account. The National Bank All-In-One account will be offered through Sun Life advisors starting March 31. “The partnership established between Sun Life Financial and National Bank has led to the addition of a valuable product for our clients,” said Vic Kazazian, […]

By Staff |March 24, 2010

2 min read

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Canadians bracing for higher home costs

Despite the recession, home prices have been resilient in many Canadian centres, with major hubs like Toronto and Vancouver seeing sustained increases in valuations. Already 71% of current and future homeowners think house prices are too high, according to a survey commissioned by BMO, but prices continue to climb as buyers rush into a purchase, […]

By Steven Lamb |March 24, 2010

3 min read

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