Industry

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CI rumoured to sell Blackmont for stake in Canaccord

It was just three weeks ago that the financial industry was abuzz at the possibility of CI buying Scotiabank’s mutual fund operation, and now the Toronto-based fund manager is stirring things up again. Rumours are running rampant that CI Investments is set to sell Blackmont Capital, its investment banking division, to Canaccord Capital for a […]

By Bryan Borzykowski |September 9, 2008

3 min read

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Briefly:

The proposal of the Investment Industry Regulatory Organization of Canada (IIROC) to define and regulate the term “financial planning” has been met with stiff opposition from Advocis. The biggest problem Advocis has with the proposal is that it alters the relationship of dealers and advisors, by requiring the dealer to supervise all planning activities. At […]

By Staff |September 8, 2008

2 min read

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Industry profits take a hit in Q2

The violent mood swings of the equities market, coupled with fears of further crumbling in the global financial industry, cut into the profits of the securities industry in the second quarter, according to the Investment Industry Association of Canada (IIAC). Industry operating profits declined 10% from Q1, to $1.1 billion, but the year-over-year fall-off was […]

By Steven Lamb |September 8, 2008

2 min read

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Manulife names Guloien as next CEO

The board of Manulife Financial has announced the successor for Dominic D’Alessandro, the outgoing CEO of the country’s largest insurer. Taking the helm as the next president and CEO will be Donald A. Guloien, effective May 7, 2009. “Donald is ideally suited for this role,” said Arthur Sawchuk, chair of the board of directors. “He […]

By Steven Lamb |September 8, 2008

1 min read

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Can Canada’s politicians save slowing economy?

The race for a new prime minister is on, and, as in the U.S., there’s a good chance Canada’s slowing economy could be the issue driving the campaigns. However, whatever the party bigwigs say, it’s unlikely anything they promise will affect our country’s fortunes. “Our near-term prospects are largely driven by what happens in the […]

By Staff |September 8, 2008

2 min read

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Briefly:

(September 5, 2008) The financial services industry raised $45,000 at a sold-out dinner last night for Amani Children’s Home, a charity that helps street kids and AIDS orphans in Tanzania. Two hundred industry bigwigs attended last night’s dinner held at the National Club, including Earl Bederman of Investor Economics, David Feather of Mackenzie Financial and […]

By Staff |September 5, 2008

4 min read

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Regulators survey investors on rule development

Four of the nation’s largest regulators announced on Thursday that they are seeking direct input from retail investors on the topic of investment product suitability. It’s an unprecedented move, and one the head of the Investment Industry Regulatory Organization of Canada (IIROC) hopes will yield valuable feedback that can be used as the basis for […]

By Mark Noble |September 5, 2008

3 min read

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(September 4, 2008) AGF Funds has launched a new online program designed to assist advisors in managing risk for their clients. The company has teamed up with Stephen Gresham to develop Changing Risk. The website is the latest part of AGF’s Sound Choices Program, and provides advisors with articles, tools and templates, focusing on day-to-day […]

By Staff |September 4, 2008

2 min read

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M&A activity up, but deal values drops

The mergers and acquisitions market has had a tough go of things since the credit crunch sent the financial industry into a tailspin, and that didn’t change in Q2. According to a new Crosbie & Company report, the M&A space saw the lowest level of aggregate deal value in almost five years, with transactions worth […]

By Bryan Borzykowski |September 4, 2008

2 min read

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Selling the TFSA as an insurance vehicle

As advisors consider how to strategically use the new Tax-Free Savings Accounts (TFSAs) when they come into effect in January, one of the country’s largest insurance companies points out that investors shouldn’t discount insurance needs. Sun Life Financial has announced it will offer TFSA solutions for both its retail and group customers, when the accounts […]

By Mark Noble |September 4, 2008

4 min read

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