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Industry
The financial strain on single people in retirement is substantially higher than if they are married, a new report from the BMO Retirement Institute says. Since many clients, particularly women, will likely spend a portion of their retirement without their spouse, advisors need to create a contingency plan. Already, nearly one-half of Canadians over the […]
By Mark Noble |January 16, 2009
3 min read
American consumer confidence has taken another hit, according to the RBC CASH (Consumer Attitudes and Spending by Household) Index, but expectations for the future are starting to improve. A six-year low was reached for the January 2009 reading of the index, following dismal retail and employment data for the final quarter of 2008. The January […]
By Staff |January 15, 2009
The Investment Funds Institute of Canada can be counted on to accentuate the positive in the fund industry — for instance, sales for funds overall were positive for 2008, by $100 million. It’s pretty evident, however, that it was the worst sales year in the industry’s history, and December didn’t do much to change that. […]
By Mark Noble |January 15, 2009
advancement of the status of the profession advancement of the status of the profession advancement of the standards of the profession reflection/embodiment of the profession industry visibility and knowledge impact of contribution Past winners of the award include Donald J. Johnston, founder and now retired president of FPSC; Alistair Rickard, the 2007 recipient and 2004 […]
By Staff |January 14, 2009
The 2008 tax season has a new development. Although nothing has been formally announced, it’s believed the Canada Revenue Agency will be taking a harder look at the leveraged insurance programs — known as 10/8 strategies — being offered by a handful of carriers. The 10/8 strategy has been around for years, but as was […]
By Mark Noble |January 14, 2009
4 min read
With tough economic times and volatile market returns, a survey of Ontarians has found that investors may be wary of contributing to their RRSP this year. The survey found seven in 10 will contribute the same amount to their RRSP this year as they did last year, or less. Roughly 30% will not contribute to […]
By Staff |January 13, 2009
BMO Financial Group is expanding its presence in the advisor channel with the acquisition of AIG Life of Canada. The deal adds 300 employees and 400,000 customers to BMO’s insurance operations. It also gives BMO access to 5,000 life brokers across Canada through AIG’s relationships with managing general agents. “This acquisition is a perfect extension […]
By Scot Blythe |January 13, 2009
2 min read
The verdict is out. While Ontario, Nova Scotia and British Columbia have expressed support for Finance Minister Jim Flaherty’s plan for a national securities regulator, Alberta and Quebec have outright balked at the recommendations, threatening legal action in a bid to keep jurisdiction over regulation. Flaherty said in a statement that the seriousness of the […]
By Kanupriya Vashisht |January 13, 2009
Mackenzie Financial has hired George Morgan as senior vice-president and portfolio manager at its Mackenzie Cundill Investment Management subsidiary. Morgan is perhaps best known for having managed the Templeton Growth Fund until his retirement in 2006. He will now manage the Mackenzie Cundill American Class and provide research coverage for North American equities and the […]
By Staff |January 12, 2009
Investors left holding the bag on frozen asset-backed commercial paper may soon get access to their money after Superior Court of Ontario Justice Colin Campbell issued an order that restructuring plan be implemented. The restructuring plan — which affects about $32 billion in frozen consumer debt instruments — is expected to close on or about […]
By Steven Lamb |January 12, 2009
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