Industry

Decorative pattern

Wealthy clients underserviced, seeking more advisor contact: Survey

(April 23, 2003) Nearly half of Canada’s millionaires have switched financial advisors in the last five years, often due to lack of contact, suggests a survey of high net worth clients conducted by the Stenner Group in Vancouver. Most respondents report having a good relationship with their advisor. However, in the past five years, 43% […]

By Doug Watt |April 23, 2003

3 min read

Decorative pattern

Bank of Canada lowers growth forecast, hints at interest rate hikes

(April 23, 2003) The Bank of Canada today lowered its forecast for economic growth and said it would likely have to raise interest rates later in the year to keep inflation in check. Governor David Dodge also said that the SARS outbreak in Toronto could impact the Canadian economy, but added it’s impossible to say […]

By Doug Watt |April 23, 2003

2 min read

Decorative pattern

Low-income RRSP savers victims of bad advice, C.D. Howe says

(April 22, 2003) RRSPs are a terrible investment for lower income Canadians nearing retirement because most of the proceeds will be lost to taxes and clawbacks, according to a study released today by the C.D. Howe Institute. Study author Richard Shillington calls the situation “perverse” and urges financial advisors to stop spreading the myth that […]

By Doug Watt |April 22, 2003

2 min read

Decorative pattern

Pension funds report lower assets and returns for 2002

(April 21, 2003) Canada’s pension industry felt the bear market pinch again in 2002, with assets and returns declining for the second straight year, according to Benefits Canada’s annual survey of the top 100 pension funds. Assets fell nearly 6% last year, the largest decline since the survey was introduced 23 years ago. The 100 […]

By Doug Watt |April 21, 2003

2 min read

Decorative pattern

Rule change credited for boosting business financing in Ontario

(April 21, 2003) The Ontario Securities Commission says the removal of investment restrictions has led to a dramatic increase in new financing for small- and medium-sized businesses in the province. An OSC report concludes that the number and value of new financings in Ontario has tripled since the change was introduced in 2001. From 1995 […]

By Doug Watt |April 21, 2003

2 min read

Decorative pattern

Stock market recovery in the cards, advisors believe

(April 17, 2003) With the Iraq conflict all but resolved, Canada’s financial advisors are looking for a stock market rally, suggests a survey conducted by The ADVISOR Group. Nearly 60% of advisors responding to a recent online poll said they expect stock prices to rise over the next few months. When the same question was […]

By Doug Watt |April 17, 2003

2 min read

Decorative pattern

U.S. turns up heat on hedge fund industry

Hedge funds revealed: Canadians prepare to embrace absolute return strategies (April 17, 2003) Newly appointed Securities and Exchange Commission chair William Donaldson reported on the SEC’s continuing fact-finding inquiry into hedge funds to a Congressional committee last week, declaring his uneasiness over the "retailization" of hedge funds. Before the Senate Committee on Banking, Housing and […]

By Scot Blythe |April 17, 2003

4 min read

Decorative pattern

Industry challenged to press for regulatory reform

(April 16, 2003) Canada’s financial services industry must speak out on the issue of regulatory reform or risk being stuck with the status quo, participants attending a Toronto breakfast session were warned today. Following a speech by Investment Dealers Association president Joe Oliver, several prominent insiders urged industry participants to seize the opportunity for change. […]

By Doug Watt |April 16, 2003

3 min read

Decorative pattern

Inflation worries spark interest rate hike

(April 15, 2003) Pointing to rising inflation, the Bank of Canada today raised its key overnight lending rate by 25 basis points to 3.25%. The central bank says that since its last interest rate announcement in March, inflation has remained well above the 2% target rate and that measures of inflation expectations have edged up. […]

By Doug Watt |April 15, 2003

2 min read

Decorative pattern

Seeing red: March fund sales drop again after brief recovery in February

(April 15, 2003) After a short-lived respite, mutual fund sales returned to familiar territory last month, with net outflows of $105 million, according to data released today by the Investment Funds Institute of Canada. In the past year, sales have finished in the red every month but one. Money market funds accounted for all of […]

By Doug Watt |April 15, 2003

2 min read

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