Industry

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Getting visible

Fee-only financial planning is a growing trend in Canada, and so is passive investing. Montreal-headquartered PWL pioneered this approach in 1996. AER spoke with PWL founder Anthony Layton about his ideal client – and his ideal advisor. Q: Tell me, how did PWL come to be? A: Three of us – me, James Parkyn and […]

By Scot Blythe |December 1, 2008

10 min read

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Splish splash

This month, we asked our experts: The Financial Transactions Reports Analysis Centre of Canada (FINTRAC) has audits underway to look at policies and procedures related to compliance with antimoney- laundering regulations at both insurance and securities firms. How can firms crash-test their operations to ensure they’ll fare well in these audits? And what are some […]

By Jodi Angevine, John Kelleway |December 1, 2008

3 min read

Decorative pattern

Briefly:

(December 1, 2008) Scotiabank has announced the creation of Scotia Mortgage Authority, which consolidates the bank’s 2006 acquisition, Maple Trust Company, and Scotia Express Service. The purchase of Maple Trust doubled Scotia’s broker-originated book of mortgages. The new division is seen as reinforcing the connection to the mortgage broker channel. “As the number two acquirer […]

By Staff |December 1, 2008

3 min read

Decorative pattern

Week in review: November 24-28, 2008

Welcome to the weekly roundup of news affecting you, as covered by Advisor.ca and our sister publication, Conseiller.ca. Read this section every week to catch up on the news you missed, or click here and subscribe to get regular updates sent to your inbox or BlackBerry. Skip to: Quick links, stories this week. Or click […]

By Kate McCaffery |November 28, 2008

8 min read

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Briefly:

(November 28, 2008) The federal government has posted a budget deficit of $400 million for the month of September, compared to the $11-million surplus recorded in September 2007. Revenues have fallen by $100 million, or 0.6%, on a year-over-year basis, largely due to the lower GST rate. The falling revenues did little to curb government […]

By Staff |November 28, 2008

1 min read

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Off-book transactions: Unlimited liability, zero upside

Off-book products might occasionally generate windfalls for investors or commissions for brokers, but when it comes to dealers, they’re nothing but a liability, according to litigators speaking at the Advisor Group’s Fall Compliance Conference. “Such products tend to thrive when the markets are down,” says Jim Douglas, partner, Borden Ladner Gervais, “as retail brokers desperately […]

By Kanupriya Vashisht |November 28, 2008

4 min read

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Mount Real charges mount

It’s not even the beginning of the end, but December marks another milestone in the protracted dénouement of the whole Mount Real-Cinar-Norshield affair, an affair that ultimately cost investors something on the order of $4.5 billion, according to author-insider William Urseth. At issue is a disciplinary hearing by the Quebec division of the Investment Industry […]

By Scot Blythe |November 28, 2008

5 min read

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If you’re going to be cautious, get paid

Market-timers who say they’ve found the bottom are just as likely to have the floor fall out from under them. Instead, investors should be looking at ways to maximize their earnings from more conservative investments, portfolio managers say. One of the ironies of this bear market is that a flight to safety is not even […]

By Mark Noble |November 27, 2008

4 min read

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Briefly:

(November 27, 2008) CIBC has admitted that the bank is unsure whether it lost track of the personal information for over 470,000 investors, according to a report from the Office of the Privacy Commissioner. As part of a systems upgrade in December 2006, CIBC had intended to copy the data onto two removable hard drives, […]

By Staff |November 27, 2008

3 min read

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There’s no ‘perfect form’ for KYC

Advisors need to worry less about the specific form used and focus more on building a relationship with their clients so that they truly know them on a personal level, according to speakers at the Advisor Group’s Fall Compliance Conference. “The best way for us all to protect ourselves, and more so to make sure […]

By Steven Lamb |November 26, 2008

4 min read

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