News and resources for Canada's top financial advisors
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The Canadian Securities Administrators (CSA) National Instrument 31-103 Registration Requirements and Exemptions — more commonly referred to as registration reform — is poised to go into effect. “We have moved to harmonize, streamline and modernize the registration requirements and procedures across Canada,” says Jean St-Gelais, chair of the CSA and president & chief executive officer […]
By Staff |July 17, 2009
4 min read
This week, we received many letters about our coverage on advisor compensation, individual pension plans and the Earl Jones saga. Here is what some of you had to say on the subject. Re: Compensation does not determine good advice, readers say, July 10, 2009 Reader Shawn Flannigan writes as if he doesn’t get a fee […]
By Staff |July 16, 2009
2 min read
Re: When not to IPP, July 13, 2009 Advisor.ca’s recent article on IPPs reinforces many of the commonly held misconceptions. As a member of a firm that has established almost 2,000 IPPs across Canada, I deal with these myths everyday. It is trite to state that IPPs don’t work everywhere. Of course they don’t, but […]
By Trevor Parry |July 16, 2009
5 min read
Re: Compensation does not determine good advice, July 10, 2009 Reader Shawn Flannigan writes as if he doesn’t get a fee for service. Of course he does. It’s just embedded in the management fee. The trailer on a mutual fund is as much or more than what the average advisor charges in fees. The real […]
By Susan LeRoy and Robert McEachern |July 16, 2009
3 min read
Re: Montreal “advisor” fraud could top $50 million, July 13, 2009 Why are the terms “advisor-initiated fraud” and “retail advisor” used when Earl Jones is not an advisor? Hanging a sign out and creating some business cards and letterhead does not make a person a doctor, lawyer or an advisor. If a person hung a […]
By J. Gregory Goldsworthy and Richard Knowles |July 16, 2009
In light of the “advisor” Earl Jones scandal, Advocis offers some tips for spotting an investment scam. “The first and most important warning sign is the advisor offers you some unrealistic and/or consistent returns on the investment,” says Greg Pollock, Advocis’ president and CEO. “Such promises are fundamentally contrary to the very nature of a […]
1 min read
While more stringent regulations likely would not have prevented Earl Jones from robbing hapless widows and trusting seniors — since he wasn’t actually registered to sell investments in the first place — this most recent financial scandal has nonetheless reignited the compliance debate. But, no matter what the source, when it comes to client complaints, […]
By Stephanie A. McManus |July 16, 2009
After years of flat growth, do-it-yourself investing is once again on the rise. A growing number of Canadians — ill-served by market conditions — think they can do it better themselves and are signing up for discount brokerage accounts, according to J.D. Power and Associates. The company’s 2009 Canadian Discount Brokerage Investor Satisfaction Study finds […]
By Mark Noble |July 16, 2009
Canada’s boomers are well aware of what the recent market meltdown has done to their investment accounts, but they seem to think their expected inheritances from their parents will be largely unscathed. A survey conducted for BMO Retirement Institute found that almost 30% of boomers are expecting to receive an inheritance, and 70% of those […]
By Steven Lamb |July 15, 2009
Despite relatively widespread media coverage and a formal warning from the Investment Industry Regulatory Organization of Canada (IIROC), one investment group continues to call for more rules to govern the sale of leveraged exchange traded funds (ETFs). The Canadian Foundation for the Advancement of Investor Rights continues to call for greater regulation of leveraged ETFs, […]
By Mark Noble |July 15, 2009
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