Industry News

Decorative pattern

Pension investing using ETFs: Part 3

In the now-iconic scene set in Katz’s Delicatessen in New York City, a woman of some years mischievously asks her waiter to bring her the rye and pastrami sandwich she assumes was responsible for Meg Ryan’s character Sally’s head-turning display of euphoria. Portfolio envy is a lesser-known form of a similar syndrome.

May 1, 2011

3 min read

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Middle-income earners face retirement shortfall

Many of today’s middle-income earners will experience a substantial decline in their standard of living once they retire, according to a new study published by the Institute for Research on Public Policy (IRPP). The study, Projecting the Adequacy of Canadians’ Retirement Incomes: Current Prospects and Possible Reform Options, uses simulation modelling to show that approximately […]

By Staff |April 29, 2011

1 min read

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MFDA settles with Laurier Capital Planning

A settlement hearing in the matter of Laurier Capital Planning Inc. was held in Calgary, Alberta before a hearing panel of the MFDA’s Prairie Regional Council. After hearing submissions from counsel, the hearing panel accepted the settlement agreement between MFDA staff and the respondent, as a consequence of which the respondent has paid a fine […]

By Staff |April 29, 2011

1 min read

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RBC GAM closing two global sector funds

RBC Global Asset Management announced today the upcoming closure of the RBC Global Consumer and Financials Fund and the RBC Global Health Sciences Fund effective end of day June 27, 2011. The funds will be closed to new purchases effective end of day June 20, 2011. The funds’ low levels of assets have presented challenges […]

By Staff |April 29, 2011

1 min read

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Canadian anti-money laundering laws need update

In May, the B.C. Supreme Court heard the Finance Department’s challenge to the decade-old ruling on the reach of anti-money laundering legislation in Canada, and industry execs predicted the outcome would affect advisors. The original version of the Proceeds of Crime (Money Laundering) Act, which gave birth to FINTRAC, was adopted in July 2000. Following […]

By Dean DiSpalatro |April 28, 2011

5 min read

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IIROC fines, bans Michael Thomas Jones

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has imposed a penalty on Michael Thomas Jones which includes a permanent ban from registration in any capacity with an IIROC-regulated firm. The panel’s decision, based on an agreed statement of facts and violations, found Mr. Jones was liable of misappropriating funds from […]

By Staff |April 28, 2011

1 min read

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Date set for 2011 Financial Planning Week

The Financial Planning Standards Council (FPSC) and its Quebec counterpart, the Institut québécois de planification financière (IQPF) have set the date for Canada’s third annual Financial Planning Week. October 17-23, 2011 will be dedicated to an ongoing effort by both organizations to make financial planning the cornerstone of sound financial management. “The goal of Financial […]

By Staff |April 28, 2011

1 min read

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Invesco Intactive available as corporate class

Invesco Trimark has announced it is offering its five Invesco Intactive Accumulation Portfolios within a mutual fund corporation structure. This allows investors to switch between portfolios within a non-registered account without triggering a taxable disposition. “The response to Invesco Intactive has exceeded our expectations, and we believe that creating these corporate class portfolios provides investors […]

By Staff |April 28, 2011

1 min read

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Canadians economical…with the truth

Canadians are fibbing, fudging and fabricating facts when filling out insurance application, according to a report released by TD Insurance today. Manitoba and Saskatchewan residents were found to be the biggest offenders, the report said. They may be among the most insured in the country, but are also the least likely to think honesty is […]

By Vikram Barhat |April 27, 2011

2 min read

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Estate Planning

Fear hinders effective transfer of wealth: SEI

A recent SEI Wealth Insight Initiative roundtable suggests that fear of negative outcomes and a lack of confidence in heirs are two of the biggest barriers to families sustaining and growing wealth over time. The roundtable gathered small groups of wealthy families—those with more than $5 million in investable assets—to discuss their experiences and offer […]

By Dean DiSpalatro |April 27, 2011

3 min read

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