Industry

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FPSC seeks changes to certification process

The Financial Planners Standards Council has released proposed changes to the eligibility requirements for CFP certification, and has called for comment on the proposals. The proposals will have no effect on existing CFPs. “It’s still the same CFP. The standards haven’t changed; it’s the actual certification requirements that are changing,” says Cary List, CEO and […]

By Steven Lamb |June 25, 2008

2 min read

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MDRT: Innovate or get cut

Financial professionals need to innovate, or they will be cut in the current “scissors economy,” said former White House director of economic policy and past managing director of the $15 billion Tiger hedge fund, Todd Buchholz. Speaking to a packed room of almost 8,000 Million Dollar Round Table delegates, Buchholz explained how in the past […]

By Romana King |June 25, 2008

3 min read

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On The Shelf: Mackenzie slices thinner target date, and more product news

(June 24, 2008) Mackenzie Investments has launched the Mackenzie Destination+ 2017 Fund, a target date fund that fills the gap between the company’s existing 2015 and 2020 funds. The Destination+ product line also offers a daily lock-in of market gains and includes a guaranteed payout of the principal at maturity. “Based on feedback from financial […]

By Staff |June 24, 2008

2 min read

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By The Book: MFDA launches hearing, and more regulatory news for Tuesday

(June 24, 2008) The Mutual Fund Dealers Association of Canada has launched disciplinary proceedings against Domenic Fanelli and Michele Torchia over alleged improprieties. The MFDA alleges that from July 2002 to September 2003, Fanelli was engaged in an outside business activity without disclosing it to the firm. He allegedly conducted securities-related business through facilities other […]

By Staff |June 24, 2008

2 min read

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MDRT: Fighting retirement’s foe — inflation

“A very interesting survey that we’ve done with individual clients asked them, ‘What worries you in retirement? What risks do you fear in retirement?’ Over and over again, the answer is inflation,” Moshe Milevsky, executive director of the Individual Finance and Insurance Decision Centre, told a packed audience at the Million Dollar Round Table’s annual […]

By Mark Noble |June 24, 2008

4 min read

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RBC buys 10% of O’Shaughnessy firm

RBC has strengthened its bond with one of its star mutual fund managers, buying a 10% stake in O’Shaughnessy Asset Management (OSAM). The bank has also acquired a brokerage in the U.S. mid-Atlantic market. OSAM is run by Jim O’Shaughnessy, who left Bear Stearns in 2007 to start his eponymous company. He manages roughly $5.5 […]

By Steven Lamb |June 23, 2008

2 min read

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Briefly:

(June 23, 2008) JovFunds Management will hold a special meeting for unitholders of its Jov BetaPro Short-Term Income Fund, to consider amendments to the investment objectives of the fund. If approved, the fund will be renamed the Jov Bond Fund, and the portfolio will be restructured to include longer-term bonds. It will continue to be […]

By Staff |June 23, 2008

1 min read

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BCE deal seen closing in Q3

Clients still holding BCE stock will be happy with Friday’s news, after the Supreme Court of Canada sided with shareholders in the proposed takeover of the telephone operator. The consortium led by the Ontario Teachers’ Pension Plan now expects to complete the privatization of BCE Inc. sometime in the third quarter of this year. It […]

By Craig Sebastiano |June 23, 2008

2 min read

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MDRT: New retirement requires new skills from advisors

Advisors, agents and planners need to reinvent their role if they want to be successful and meet the needs of their retiring clients, according to a leading demographic psychologist and business guru. On the first full day of the 2008 Million Dollar Round Table in Toronto, Dr. Ken Dychtwald prompted almost 8,000 attendees to examine […]

By Romana King |June 23, 2008

4 min read

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Briefly:

(June 20, 2008) The province of Quebec can expect its economic growth to slow to just 0.8% for the current year, before rising to 1.7% in 2009, according to Sébastien Lavoie, economist of Laurentian Bank Securities. That’s still below the long-term average of 2% between 2001 and 2007. “The Quebec economy will continue to endure […]

By Staff |June 20, 2008

3 min read

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