News and resources for Canada's top financial advisors
(January 20, 2003) The South African heart surgeon who pioneered the concept behind critical illness insurance says advisors owe it to their clients to spread the word about CI. Dr. Marius Barnard was a keynote speaker last Friday at the first world critical illness insurance conference in Vancouver. “In 1983 I had a tremendous audience […]
By Sheila Avari |January 20, 2003
2 min read
(January 20, 2003) The Investment Funds Institute of Canada has shot down several key provisions contained in the British Columbia Securities Commission’s proposals to reform mutual fund regulations. IFIC believes that fund companies should not be forced to file quarterly performance reports and that foreign fund companies shouldn’t be allowed to sell products in Canada. […]
By Doug Watt |January 20, 2003
2 min read
(January 17, 2003) As the world’s first critical illness insurance conference kicked off in Vancouver, the chief organizer wasn’t shy in expressing his opinion that Canada trails the rest of the world significantly when it comes to critical illness knowledge. To the 350 advisors at the opening reception on Thursday night, many from Canada, the […]
By Sheila Avari |January 17, 2003
3 min read
(January 16, 2003) There’s no need for Canadian regulators to rush into adopting U.S. style reforms, according to a policy paper commissioned by the Capital Markets Institute at the University of Toronto. In fact, wholesale acceptance of reforms like the Sarbanes-Oxley Act could impose “undue costs” on Canadian market participants, says the paper’s author, Christopher […]
By Doug Watt |January 16, 2003
3 min read
(January 16, 2003) More than half of Canada’s millionaires say they expect preferential treatment from financial firms because of their wealth, according to a Forrester Research report. The study also found that millionaires want personalized, proactive contact from their advisors. Fifty-three per cent of Canadians with more than $1 million in investable assets said they […]
By Doug Watt |January 16, 2003
2 min read
(January 15, 2003) In a pattern similar to most of 2002, mutual fund sales finished in the red in December as nervous investors continued to redeem funds. Outflows reached $238 million last month, according to the Investment Funds Institute of Canada, the ninth consecutive month of redemptions. Similar to November, when outflows were $580 million, […]
By Doug Watt |January 15, 2003
3 min read
(January 15, 2003) John Bogle, founder of Vanguard Group, one of the largest U.S. mutual fund companies and a pioneer in index investing, thinks the fund industry has changed for the worse since he first began following it in 1949. Most notably, he feels that U.S. mutual funds have moved from stewardship to salesmanship, with […]
By Scot Blythe |January 15, 2003
5 min read
(January 14, 2003) Younger people are more worried about suffering a severe illness such as a stroke, cancer or heart attack than middle-aged or older Canadians. And Canadians who have a financial advisor want their advisor to tell them about their options, according to a poll by Ipsos-Reid and RBC Insurance. The survey, conducted in […]
By Scot Blythe |January 14, 2003
2 min read
(January 14, 2003) Quebec’s mutual fund distribution landscape underwent a dramatic shift last week with the launch of Nodus, a franchise-type operation aimed at advisors who want to set up their own independent firms. A recent change to the province’s securities laws allows individuals to register their own independent securities firm. It’s estimated that about […]
By Doug Watt |January 14, 2003
2 min read
(January 13, 2003) Canada Life came out swinging today in its battle to avoid being swallowed up by Manulife, rejecting Manulife’s hostile takeover bid as inadequate and urging shareholders to vote against the offer. “Everyone knows that Manulife’s offer is inadequate,” said Canada Life CEO David Nield in a conference call with analysts. “The analysts […]
By Doug Watt |January 13, 2003
2 min read
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