Industry

Decorative pattern

First Asset Management acquired by U.S. firm

(April 19, 2005) Affiliated Managers Group has reached an agreement to acquire 100% ownership of Toronto-based First Asset Management in a cash and stock deal valued at $306 million. First Asset is one of Canada’s largest independent management firms, with more than $29 billion in assets under management. The agreement includes First Asset’s equity interest […]

By Doug Watt |April 19, 2005

2 min read

Decorative pattern

Lee-Chin will decide AIC’s future, says CIO

(April 19, 2005) The chief investment officer of AIC says the fate of the company rests in the hands of founder Michael Lee-Chin. Jonathan Wellum says the Burlington, Ont.-based firm has received no shortage of takeover offers and while he doesn’t believe Lee-Chin, its chairman, CEO and controlling shareholder, wants to sell, he isn’t ruling […]

By Geoff Kirbyson |April 19, 2005

3 min read

Decorative pattern

Mackenzie exec offers

(April 18, 2005) Fund companies serving the independent advisor need to take the lead role in confronting the challenges facing their distribution channel, according to a senior industry executive in the fund industry. Speaking at Mackenzie University’s continuing education road show in Toronto last week, David Feather, president of Mackenzie Financial Services, delivered a “state […]

By Steven Lamb |April 18, 2005

4 min read

Decorative pattern

ADVISOR Group introduces new conference series

(April 18, 2005) ADVISOR Group is launching a new set of industry conferences, each focusing on a specific aspect of the financial services industry. Advisor Live kicks off in June with two events in Niagara-on-the-Lake, Ontario. On June 9 and 10, ADVISOR Group and NewLink Group — with the support of the Canadian Association of […]

By Staff |April 18, 2005

2 min read

Decorative pattern

Briefly:

(April 22, 2005) Canadians like to gripe that the country’s rich don’t pay their fair share in taxes. A new Statistics Canada study suggests that’s not the case. According to the government agency, 10% of Canadian taxpayers in the highest income bracket accounted for more than one-half of federal personal income tax revenue in 2002. […]

By Staff |April 18, 2005

17 min read

Decorative pattern

Investors should not pay for Portus probe, says IFB

(April 18, 2005) The Independent Financial Brokers of Canada (IFB) is calling on the Ontario Securities Commission (OSC) to take full responsibility for the cost of the Portus investigation. The move comes after receiver KPMG asked for court permission to transfer an initial sum of $11 million from a Portus bank account to pay the […]

By Doug Watt |April 18, 2005

2 min read

Decorative pattern

Small business owners need better advice, expert says

Small business owners are often considered the backbone of the local economy. Taking enterprise value into account, it is no surprise that their net worth tends to be among the highest in their community, making them prime targets for prospecting advisors. Yet despite their preferred client status, many are not getting the tax and estate […]

By Steven Lamb |April 15, 2005

5 min read

Decorative pattern

Fund sales topped $3 billion in March

(April 15, 2005) The mutual fund industry attracted net new sales of $3.4 billion in March. That’s nearly $2 billion less than February, when sales hit $5.3 billion, a five-year high. Net sales for the first three months of the year totalled $9.4 billion as RSP season wound down, said IFIC president Tom Hockin, down […]

By Doug Watt |April 15, 2005

2 min read

Decorative pattern

Succession planning examined in April’s Advisor’s Edge

(April 14, 2005) It’s pretty hard to take someone’s advice when they don’t follow it themselves. Have you ever had a doctor tell you to lose weight, when they were, shall we say, a little on the stout side? One of the prime clients advisors seek is the small business owner, who invariably needs help […]

By Steven Lamb |April 14, 2005

2 min read

Decorative pattern

Income trust boom not sustainable, analyst warns

(April 14, 2005) Income trusts have enjoyed a lengthy winning streak, but there are dark clouds on the horizon, particularly in the oil and gas sector, cautions Clément Gignac, chief economist at National Bank Financial. Over the past three years, trusts have averaged annual returns of 25%, with energy trusts faring even better, at 31%. […]

By Doug Watt |April 14, 2005

2 min read

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