Industry

Decorative pattern

Asset managers may see hefty wage losses: BCG

Providing outsourced asset management services may soon become a less lucrative proposition, according to a report from Boston Consulting Group (BCG). Sweeping losses to client portfolios are already resulting in equally expansive profit declines for asset managers. Average operating margins fell to 34% of net revenues at the end of 2008 — the lowest level […]

By Kanupriya Vashisht |July 7, 2009

2 min read

Decorative pattern

Briefly:

BMO Investments and Guardian Group of Funds will amalgamate to form a single legal entity effective November 1. BMO will become the trustee and manager of all BMO Guardian Funds currently managed by Guardian Group of Funds Ltd., and will continue to act as trustee and manager of the BMO Mutual Funds. BMO Investments Inc. […]

By Staff |July 6, 2009

1 min read

Decorative pattern

Client pensions benefit from stock rally

One of the key elements to many clients’ retirement plans has been given a boost. Canadian pension funds are breathing a little easier lately thanks to marginal but steady improvements in equity returns and bond prices, according to Mercer’s Pension Health Index. Pension funds are benefiting from the same strong equity returns that have boosted […]

By Jody White |July 6, 2009

2 min read

Decorative pattern

Advisors react to commission ban idea

Last week’s opinion piece on commissions by Jason Pereira brought a wave of reader feedback into the Advisor.ca inbox. This came as no surprise, as the suggestion that regulators banning upfront commissions would entail a radical restructuring of the dominant business model, affects not only advisors, but clients, investment fund companies and insurance carriers. Several […]

By Steven Lamb |July 6, 2009

3 min read

Decorative pattern

Weak loonie boosts fund returns, sales sag

The slow stock market rally did little to dampen mutual fund performance in June following strong returns in April and May, according to preliminary data from Morningstar Canada. The vast majority of fund indices — 40 out of the 43 that Morningstar tracks — managed to end the month in the black, thanks in part […]

By Steven Lamb |July 3, 2009

4 min read

Decorative pattern

Regulating against securities fraud

The United States Securities and Exchange Commission has been under tremendous public scrutiny over the still on-going Bernard Madoff “Ponzi-scheme” scandal. Indeed, the U.S. Congress has accused the SEC of chronic blindness in ignoring credible allegations about Madoff’s improprieties. Unlike the SEC under current U.S. securities laws, Canadian securities regulators directly regulate, with minimal exceptions, […]

By Rebecca Cowdery, Prema Thiele |July 3, 2009

4 min read

Decorative pattern

Briefly:

Meridian Credit Union has appointed Gary Genik as their new chief information officer. “As our new CIO, Gary brings the required leadership, experience, expertise and understanding of Meridian to the position,” says Meridian Credit Union president and CEO, Sean Jackson. Genik joined Meridian in 2008 as the director of infrastructure, where he worked on a […]

By Staff |July 3, 2009

1 min read

Decorative pattern

Could 70 be the new 65?

The solution to Canada’s workforce conundrum requires some fresh thought and tough choices, according to the C.D. Howe Institute. Some of the suggestions contained in the think tank’s latest report are sure to raise a few eyebrows. Instead of increasing the number of young immigrants to the country to offset the mass exodus of the […]

By Jody White |July 3, 2009

2 min read

Decorative pattern

Opinion: Canada should ban commissions too

Last week’s regulatory changes by Britain’s Financial Services Authority (FSA) received little coverage here in Canada. However, these are changes that should grab the attention of Canadian advisors, suppliers and regulators alike. The biggest change made was regarding how advisors get paid. The FSA has effectively banned upfront sales commissions from being attached to any […]

By Jason M. Pereira |July 2, 2009

4 min read

Decorative pattern

Briefly:

National Bank Financial Group has inked a deal to buy a 20% stake in AlphaPro Management Inc., a subsidiary of BetaPro Management Inc. AlphaPro is the manager of Horizons AlphaPro ETFs, a unique family of actively managed ETFs, with about $64 million in client assets investors. “As interest in ETFs continues to grow, we believe […]

By Staff |July 2, 2009

3 min read

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