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By Mark Noble |May 28, 2009
5 min read
The current recession is just another economic blip and not the end of the financial system as we know it, according to one insurance veteran. In a presentation to the Independent Financial Brokers’ Spring Summit, Rick Forchuk, associate vice-president, individual distribution, Empire Life, said comparing the current recession to the Great Depression is akin to […]
By Steven Lamb |May 27, 2009
3 min read
Clients are probably unaware of the policy benefit protections in place in the case of insurer failure, if a morning session at the Independent Financial Brokers Spring Summit in Toronto is any indication. There have only been three insurance insolvencies over the last generation in Canada, two of those were the Confederation Life and Sovereign […]
By Mark Noble |May 27, 2009
4 min read
Sun Life and CI announced today changes to their segregated fund lineup. Beginning July 31, 2009, or later, under the terms and conditions of each segregated fund contract, there will be an increase in the insurance fees and certain funds will be closed to new investments. According Sun Life executives, these changes are being made […]
By Staff |May 27, 2009
Investigators working out of the York Regional Police Central Fraud Bureau charged Kevin Banks with defrauding victims of more than $900,000 in the town of Newmarket and the city of Barrie. Banks, 50, used his financial planning and wealth management group, Kevin Banks Financial Planning Group Limited and Generations Wealth Management, to operate the alleged […]
By Staff |May 26, 2009
As prices start moving sharply upwards at the pumps, it’s inevitable clients will be asking about oil as an investment. But the outlook for oil prices is not as strong as the recent run-up would suggest, according to number of analysts. The price of a barrel of oil has accompanied the stock market rally going […]
By Mark Noble |May 26, 2009
The Investment Industry Regulatory Organization of Canada (IIROC) has announced the launch of a whistleblower hotline to allow those with first-hand knowledge of wrongdoing in the securities industry to report it. “This service will ensure that individuals who believe that they have significant information to convey deal directly with IIROC senior staff who will ensure […]
By Staff |May 25, 2009
Even though the country is still officially in recession, Finance Minister Jim Flaherty agreed today the economy is “showing some good signs.” Those good signs are reflected mostly in the bullish sentiment returning to the commodities market with base metals and crude oil lifting off lows reached in December. Patricia Mohr, vice-president, economics, and commodity […]
By Kanupriya Vashisht |May 25, 2009
Advisors will probably want to put this idea under the “don’t try this at home” category. But there’s a movement afoot to use shorting strategies on leveraged exchange traded funds (ETFs) to take advantage of the tracking drift in these products during volatile market cycles, if they’re held for a longer-than-average period of time. Leveraged […]
By Mark Noble |May 25, 2009
The stock market adage “sell in May, go away” philosophy has no legs, says Avery Shenfeld, chief economist with CIBC World Markets. This mantra is based on the premise that stocks have a stronger return period from November to April. Subsequently, stocks should be sold off at the start of May when they are still […]
By Staff |May 22, 2009
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