Industry

Decorative pattern

Inefficient technology could derail TFSA business

The tax-free savings account (TFSA) is arguably the most important value-added service to come along for advisors in years. Like all value-added services, it needs to be offered efficiently, and not all dealers may be up to the task. Capped at a $5,000 annual contribution limit, the TFSA is not going to pad an advisor’s […]

By Mark Noble |November 21, 2008

4 min read

Decorative pattern

Downturn has more Canadians reconsidering retirement

The retirement dreams of more Canadians are inching further away from the blue ocean of Caribbean winters and looking more like the blue smock donned by Wal-Mart employees, a survey by Desjardins Financial Security suggests. More than 3,500 Canadians took part in two surveys, one that was held in the summer, and the other in […]

By Mark Noble |November 20, 2008

4 min read

Decorative pattern

Briefly:

(November 20, 2008) Two years after the Ontario Expert Commission on Pensions (OECP) was created, its 222-page report — along with 142 recommendations — was released to the public on Thursday. The report, entitled A Fine Balance: Safe Pensions, Affordable Plans, Fair Rules, has numerous recommendations to reform and reinvigorate the province’s pension system, according […]

By Staff |November 20, 2008

3 min read

Decorative pattern

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(November 19, 2008) Don’t look for small businesses to offer up any optimistic economic projections for 2009 — a new Canadian Federation of Independent Business (CFIB) study reveals that most business owners are feeling down. CFIB spent six weeks talking to small businesses across the country and found that its Business Barometer Index dropped from […]

By Staff |November 19, 2008

2 min read

Decorative pattern

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(November 18, 2008) Great-West Lifeco’s Putnam Investments plans to cut 47 jobs, or nearly 2% of its workforce, as part of a broad restructuring of its equity investment unit and consolidating fund offerings. With these changes, 12 portfolio managers will be leaving the Boston-based asset management firm and 35 staff positions have been eliminated, including […]

By Staff |November 18, 2008

1 min read

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(November 17, 2008) The world of tax might not sound like the most exciting place for an executive to live, but it’s becoming increasingly important in a company’s daily operations. A new Ernst and Young survey says 53% of respondents expect their tax department’s budget to increase by an average of 21% in 2009, while […]

By Staff |November 17, 2008

2 min read

Decorative pattern

Equity issuance plummets in Q3: IIAC

With markets crashing and global economic woes on everyone’s minds, it’s not surprising that equity financing in the third quarter of this year took a major tumble. According the Investment Industry Association of Canada — it released its New Issues & Trading report on Monday — equity issuance was down 44% from the second quarter, […]

By Bryan Borzykowski |November 17, 2008

2 min read

Decorative pattern

Fund industry ravaged by

October was the worst month on record for mutual fund redemptions in Canada, according to the latest statistical data from the Investment Funds Institute of Canada. Industry assets under management fell nearly 10% from September to end October at $571.3 billion as equity markets went into near free-fall. Total industry assets were down 18.1% from […]

By Mark Noble |November 17, 2008

3 min read

Decorative pattern

Retirement fears ill-founded: Russell

Almost two-thirds of Canadian pre-retirees are worried about outliving their money, but once they’re well into retirement, the fear subsides, according to a new survey conducted by Russell Investments and Harris/Decima Research. The survey of 2,200 Canadians found that only 40% of respondents felt comfortable about their financial health in the first year of retirement. […]

By Mark Noble |November 17, 2008

4 min read

Decorative pattern

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(November 14, 2008) Insurance regulators are on the right track, but are still aiming too low with proposals for oversight of incidental insurance sales, according to Advocis. A recent report by the Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organizations calls for mandatory training and supervision of sellers by the […]

By Staff |November 14, 2008

2 min read

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