Industry

Decorative pattern

Briefly:

John Pereira has been appointed CFO of DundeeWealth. John succeeds Joanne Ferstman, who has moved into her new role as vice-chair and head of Dundee Capital Markets, DundeeWealth Inc. Since joining the company in 1997, Pereira has held a variety of senior roles at DundeeWealth. Most recently, he held the position of executive vice-president, finance. […]

By Staff |June 5, 2009

3 min read

Decorative pattern

Moving to wealth management

The financial downturn that crushed investor assets has demonstrated the importance of dual-licensing for the advisor, and the combination of investment dealer and MGA services under one roof. Such combinations have already become common, but there remain some holdouts on the distributor side, and many advisors have not yet embraced the one-stop-shop model. Tough economic […]

By Steven Lamb |June 5, 2009

4 min read

Decorative pattern

Briefly:

The Bank of Canada was true to its word. The benchmark lending rate remains unchanged at 0.25%, as the Bank repeated its conditional commitment to hold current policy rate until the end of the second quarter in 2010. The Bank rate is unchanged at 0.50% and the deposit rate is 0.25%. The decision to maintain […]

By Staff |June 4, 2009

4 min read

Decorative pattern

E-apps will save millions: Sinclair

The insurance industry has been left in the dust by virtually all other participants in the financial services sector, as technological advancements have been left untouched, according to a top carrier executive. Worse still, millions of dollars in potential savings are being left on the table, and the industry is struggling to attract new talent […]

By Steven Lamb |June 4, 2009

4 min read

Decorative pattern

CFP mark gets planner accreditation in Quebec

The two most important standards bodies in Canada responsible for granting the title of “financial planner” have entered into a strategic alliance. Currently, an advisor in Quebec is only allowed to refer themselves as a financial planner if he or she obtains a Pl.Fin designation offered through The Institut québécois de planification financère (IQPF). However, […]

June 4, 2009

4 min read

Decorative pattern

Sun Life defends GMWB changes

Recent changes to fees and asset allocation requirements for the SunWise Elite guaranteed minimum withdrawal benefit (GMWB) product have sparked advisor anger, as the changes apply to in-force contracts as well as any new policies. But the carrier says these moves were necessary to ensure the long-term health of the program, and that the blowback […]

By Steven Lamb |June 4, 2009

5 min read

Decorative pattern

Briefly:

Hard to believe it was only two years ago, but 2007 was a good year for Canadians, income and tax-wise. The median after-tax income, adjusted for inflation for families with two or more people, rose 3.7% from 2006 to $61,800 in 2007, according to data just released from Statistics Canada. For unattached individuals, the median […]

By Staff |June 3, 2009

3 min read

Decorative pattern

A new $20 rule for retirement savings

Russell Investments has a new way of teaching Canadian couples how to determine how much to save for retirement. The company calls it the “retirement rule of $20.” The rule is meant to help retirees combat market volatility and longevity risk. Put simply, the rule says that for every $1 of income require at retirement, […]

By Rayann Huang |June 3, 2009

2 min read

Decorative pattern

CLHIA makes case for healthcare overhaul

The country’s preeminent life and health insurance association says Canada’s public healthcare system is in trouble and should work closely with private industry to solve impending problems. Insurers make money on the gaps in public coverage, so it’s probably not surprising the Canadian Life and Health Insurance Association (CLHIA) — its member companies account for […]

By Mark Noble |June 3, 2009

4 min read

Decorative pattern

Briefly:

Standard Life has said in a recent report that investors need to reassess their medium-term asset allocation in response to changing demographic trends and government policies. The interplay of the current economic situation and demography will create opportunities in certain areas while dampening others. Investors should consider investments that will benefit from an aging population, […]

By Staff |June 2, 2009

3 min read

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