Industry

Decorative pattern

Briefly:

The number of personal bankruptcies skyrocketed in 2009. According to The Office of the Superintendent of Bankruptcy, 151,712 Canadians filed for personal bankruptcy or for a consumer proposal last year. New federal bankruptcy rules increased the cost of filing for bankruptcy, causing a number of Canadians to file consumer proposals instead. The sharp 31% increase […]

By Staff |March 3, 2010

3 min read

Decorative pattern

Budget 2010: An advisor wish list

As a warm up to the federal 2010 budget, we asked advisors what their dream budget would look like. And they sure spoke up. Here’s a wish list of things they think would make their jobs easier and their clients happier. James Hymas, president, Hymas Investment Management Inc. • A clear-cut plan for a balanced […]

By Kanupriya Vashisht |March 3, 2010

6 min read

Decorative pattern

Canadian fund returns golden in February

They flopped in January but flew in February. Canadian investment funds focused on domestic equities and sector-specific funds which hold predominantly Canadian content posted strong returns in February, according to Morningstar Canada. Thirty-four of the 43 Morningstar Canada Fund Indices posted gains led by the Morningstar Precious Metals Equity Fund Index with its 6.8% return. […]

By John Powell |March 2, 2010

2 min read

Decorative pattern

Briefly:

BMO Investments has announced changes to the portfolio management of the BMO Sustainable Opportunities Class and BMO Sustainable Climate Class. The funds were managed by SAM Sustainable Asset Management AG. That arrengement will end on or before June 30, 2010. BMO has commenced a search for a new portfolio manager, to be announced by that […]

By Staff |March 2, 2010

3 min read

Decorative pattern

ETF tax advantages

The three key characteristics that make exchange–traded funds (ETFs) tax-efficient are easily defined. They are: Index-based ETFs have extremely low turnover. Transactions trigger gains taxable in the hands of unit holders. The redemption of ETFs allows for in-kind transfers, allowing sponsors to transfer out the lowest cost shares without incurring tax. This maintains the adjusted-cost […]

March 2, 2010

4 min read

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Final Words: Budget’s best, worst

Prior to the budget’s release, we asked advisors for a wish list of items they’d like to see included in the document. Many got their wishes granted, and now that the Commons has moved on to parsing its contents, we asked those same advisors to tell us where they thought the budget did, and didn’t, […]

By Philip Porado |March 1, 2010

3 min read

Decorative pattern

Briefly:

Advisors at Edward Jones are now able to refer clients to the products offered by Manulife Bank, after the brokerage inked a deal with Manulife to integrate debt-management and banking solutions into financial plans. Among the products being offered is the Manulife One account, which essentially allows the client to use their home as a […]

By Staff |March 1, 2010

2 min read

Decorative pattern

Briefly:

The Ontario Securities Commission has created the Investor Advisory Panel, which will provide input on the regulator’s work, including proposed rules and policies, the annual Statement of Priorities, concept papers and specific issues. “While we currently receive comments from investors through our notice and comment process, we believe investors could be better represented in that […]

By Staff |February 26, 2010

2 min read

Decorative pattern

Briefly:

Laurentian Bank is reaching out to the 73% of Quebecers who are without a retirement plan. To help prepare them financially, Laurentian Bank is offering a range of adapted services and has hired 20 new financial planners to better serve the needs of their clientele. Free of charge, Laurentian advisors will provide clients with retirement […]

By Staff |February 25, 2010

2 min read

Decorative pattern

Commodities seen gaining strength

Commodities started 2010 off on a strong note, with the price Canada’s top export materials jumping 4.8% in January, according to the latest reading of the Scotiabank Commodity Price Index. Prices spiked in early January as a cold snap in the northern hemisphere drove energy prices higher, and base metals rose on speculative demand from […]

By Steven Lamb |February 25, 2010

2 min read

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