Industry

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Fund sales drop post-RRSP season

(May 16, 2005) The Canadian mutual fund industry watched its traditional April drop-off in sales, as investors added $567 million in fresh assets to their holdings. It was the worst month of the year so far, but that’s fairly typical, coming at the end of the RRSP season. Net sales lagged last April by $912 […]

By Steven Lamb |May 16, 2005

3 min read

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Advocis Conference Update: Members endorse public awareness strategy

(May 16, 2005) Advocis members have overwhelmingly approved a proposal to promote the advisor association to the public through a media and public relations strategy that will include national advertising. But that doesn’t mean the public will see Advocis ads on television tomorrow, says outgoing chair Randy Reynolds. In fact, the campaign won’t happen until […]

By Doug Watt |May 16, 2005

3 min read

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Advocis Conference Update: Get organized to avoid legal claims

(May 13, 2005) The vast majority of legal claims against advisors end up going nowhere. But in the less than one-third of claims where the client is awarded payment, it’s usually the result of poor documentation, not because the advisor did something wrong, insurance and legal experts say. “You don’t have to be guilty of […]

By Doug Watt |May 13, 2005

2 min read

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Advocis Conference Update: Undesignated advisors now welcome

(May 13, 2005) Canada’s largest advisor association has a problem. It’s not large enough. As announced Thursday at the association’s annual conference taking place in Halifax, Advocis is essentially reversing its strategy of restricting its membership base to designation-holding advisors — specifically those who hold either the CLU or CFP. Incoming vice-chair Roger McMillan says […]

By Darin Diehl |May 13, 2005

3 min read

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Change needed to accommodate boomers

(May 13, 2005) Baby boomers aren’t getting any younger, and companies need to make significant changes in order to deal with the looming economic threat an aging population could present. Weakening fertility rates, increased life expectancy and the en masse retirement of the baby boom generation are demographic challenges employers must face. “We’re really going […]

By Chandra Price and Heidi Staseson |May 13, 2005

3 min read

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Advocis Conference Update: Association fleshes out regulatory strategy

(May 12, 2005) Canada’s largest advisor association is adding some key new details in its ongoing campaign to transform the country’s regulatory regime. In a discussion paper released today at its national conference in Halifax, Advocis expands on its original proposal to separate the regulation of financial advice from securities transactions, suggesting a new, three-pronged […]

By Doug Watt |May 12, 2005

3 min read

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Advocis Conference Update: Chair acknowledges drop in membership

(May 12, 2005) Outgoing Advocis chair Randy Reynolds says the country’s largest advisor association has lost nearly 20% of its members. Last year, Advocis substantially increased membership fees to deal with a revenue shortfall. In a surprisingly frank speech at the opening of the Advocis national conference today in Halifax, Reynolds conceded he failed to […]

By Doug Watt |May 12, 2005

2 min read

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Ontario budget promises pension flexibility

(May 12, 2005) The government of Ontario tabled its 2005 budget Wednesday night, trumpeting increased spending for education and healthcare, while holding the line on taxes. While these are the headline items being heralded on the front pages this morning, buried deeper in the budget are provisions to offer pension fund managers more investment choices. […]

By Steven Lamb |May 12, 2005

2 min read

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Investors flock to banks’ income offerings

(May 11, 2005) Investors continued on their conservative course over the 2005 RRSP season, pouring cash into income-oriented mutual funds and largely preferring the big banks’ offerings, according to industry consulting firm Investor Economics. A single fund has accounted for more than 10% of net fund flows in the first quarter of 2005, as the […]

By Steven Lamb |May 11, 2005

2 min read

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Sun Life AGM: Advisors may face worried policyholders

(May 11, 2005) Financial advisors may receive some worried telephone calls from policyholders over the next few weeks as a result of remarks at today’s Sun Life Financial Services annual meeting. In one of his 10 proposals, all of them rejected, shareholder activist Robert Verdun alleged that the Office of the Superintendent of Financial Institutions […]

By Al Emid |May 11, 2005

3 min read

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