News and resources for Canada's top financial advisors
Industry
Corporate pensions were in bad enough shape at the start of 2008, but the market decline that began in the fall has left them in the worst shape in years. A MoneySense magazine study of defined benefit pensions offered by the 100 largest public companies found that, as a group, they were underfunded by $50 […]
By Staff |December 7, 2009
3 min read
At 38-years-old, there’s a reason why Sun Life’s Dale Lamb is a member of the prestigious Million Dollar Round Table. He doesn’t shy away from the hard decisions and he isn’t afraid to speak his mind. Sometimes, the truth hurts. Case in point, Lamb had to fire a high-net-worth client recently and did so without […]
By John Powell |December 4, 2009
CI Financial Corp. entered into an agreement in principle with senior management of the capital market operations of Blackmont Capital Inc. to sell that business to a group of employees. Blackmont was sold to Macquarie Group in October, with CI retaining Blackmont’s capital markets operations: These will be transferred to a new wholly owned subsidiary, […]
By Staff |December 4, 2009
Remember when you first started in the industry and your manager reviewed the importance of having an accurate account of your clients’ monthly and annual expenses? How else could you calculate their retirement income needs with any of precision? If you are like me, you didn’t have quite that experience in your “new advisor training” […]
December 4, 2009
4 min read
The mutual fund industry has fomented against the application of the federal Goods and Services Tax since that levy was introduced in 1991, calling it a tax on savings. But now the introduction of a Harmonized Sales Tax in Ontario, where the vast majority of funds are domiciled, represents an even greater threat to Canadian […]
By Steven Lamb |December 4, 2009
A return of confidence in the markets boosted investment fund returns in November, according to Morningstar Canada. That should come as some relief after a dismal October, when just nine fund groups were on the rise. The top performing fund category was the Precious Metals Equity Fund Index, which benefited from surging gold prices and […]
By Steven Lamb |December 3, 2009
2 min read
The Canadian Investment Awards were Wednesday night at the Fairmont Royal York, in Toronto. Three firms dominated the night, together picking up 15 of the 32 individual fund awards. Dynamic Mutual Funds was named Advisors’ Choice Fund Company of the Year, and also took home the Advisor Education Award, the IFIC Investors Education Award, and […]
A class-action lawsuit against mutual fund companies over market timing activity could stir the pot of investor angst at an inopportune time for advisors. The class, which is seeking certification this week, alleges the companies lapsed on their fiduciary duties to less sophisticated investors by allowing more experienced players to time purchases and sales to […]
By Philip Porado |December 3, 2009
Portland Investment Counsel has announced that executive chairman Michael Lee-Chin will once again take on the role of CEO, with the departure of Jonathan Wellum at the end of the year. “I’d like to thank Jonathan for his commitment and dedication to Portland Investment Counsel over the last twenty years and I wish him every […]
By Staff |December 3, 2009
There hasn’t been a lot of positive financial news lately; so advisors with clients who have lost a business or a job, or are dealing with other serious money challenges should know that a valuable debt solution became more widely available last month. People struggling to resolve debt have a number of options, including consolidation […]
By Brian Pritchard |December 3, 2009
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