Industry

Decorative pattern

Many Canadians poaching their nest egg

While Canadians are increasingly taking advantage of the tax-deferred growth offered through RRSPs, they may be contributing more to their plans than they can really afford, according to surveys from two of the country’s financial institutions. A study by Scotiabank found that nearly one-quarter of Canadians have tapped their retirement savings for one reason or […]

By Steven Lamb |January 19, 2006

3 min read

Decorative pattern

Not all economists want tax cuts

As the Liberal and Conservative parties offer duelling tax cuts in an effort to buy voter support, not all economists agree on the benefits of stripping the federal coffers. In fact, a group of 66 economists has signed a statement — entitled “Call to Action” — warning such tax breaks will severely curtail the delivery […]

By Steven Lamb |January 18, 2006

2 min read

Decorative pattern

Vast majority of IDA advisors meet CE deadline

Two cycles and six years later, the IDA’s system for tracking continuing education (CE) credits is running smoothly and the proof is in the numbers. According to the regulator, more than 98% of registrants completed their credits by the December 31 deadline. Of the 16,000-plus advisors who were required to complete their CE credits during […]

By Mark Brown |January 18, 2006

3 min read

Decorative pattern

Ethical Funds to tackle executive compensation

Vancouver-based Ethical Funds is adding executive compensation to its ambitious shareholder action program for 2006. Ethical, the first company in Canada to market socially responsible mutual funds, says it wants to raise awareness on the need to link executive compensation to sustainability. “In our view, companies today rely far too much on stock options as […]

By Doug Watt |January 17, 2006

2 min read

Decorative pattern

Briefly:

(January 20, 2006) A pair of deposit notes that allow investors the choice to receive or reinvest distributions have been launched by CIBC and CI Investments. The CIBC CI M.A.X. Deposit Notes, Series 2 and Series 2total, will be on sale until March 10 at a price of $100 each with a minimum investment of […]

By Staff |January 16, 2006

18 min read

Decorative pattern

Growth to remain steady, despite shifts

The Canadian economy is expected to continue its steady growth rate for as far out as anyone cares to predict, but the driver of that growth will shift in 2006, according to Watson Wyatt’s annual survey of Canadian financial organizations and research institutions. “Over the past two years, Canadians have been spending at above-normal levels, […]

By Steven Lamb |January 16, 2006

4 min read

Decorative pattern

Rising markets fuelled fund sales, assets in 2005

December capped off a banner year for mutual funds in Canada. Strong financial markets and a corresponding increase in sales helped the industry post its largest ever annual increase in assets. Industry assets rose nearly 15% to $570 billion last year, up from $497.3 billion in 2004. The 2005 Review of Annual Mutual Fund Statistics, […]

By Kate McCaffery |January 16, 2006

4 min read

Decorative pattern

Tories promise to scrap capital gains tax

The Conservatives say they will eliminate the capital gains tax on the sale of assets, provided the proceeds are reinvested within six months. “Canadians who invest, or inherit cottages or family heirlooms, should be able to sell those assets and plough their profits back into the economy without taking a tax hit,” the Tories say […]

By Staff |January 13, 2006

1 min read

Decorative pattern

Financial firms unprepared for boomers’ retirement

Despite the impending retirement of the baby boom generation, most financial services firms have no specific marketing plan in place to address this massively wealthy group, according to a new study by an international management consulting firm. “Our research indicates that nearly two out of three firms have not yet developed a comprehensive marketing and […]

By Steven Lamb |January 13, 2006

2 min read

Decorative pattern

Dealers to reimburse Portus referral fees

Clients who invested in Portus Alternative Asset Management are going to be reimbursed about $12 million in referral fees by mutual fund and investment dealers who participated in the offering, excluding fees that have already been recovered. The agreement was announced on Friday by the Ontario Securities Commission, with the cooperation of the IDA and […]

By Mark Brown |January 13, 2006

4 min read

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