Industry News

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MFDA issues reasons for decisions in three cases

The Mutual Funds Dealers Association has released Reasons for Decision against three registrants for infractions ranging from misappropriation of funds, to selling products not approved by the dealer. Reasons for Decision in the Matter of Nathan Disenhouse A Hearing Panel of the MFDA’s Central Regional Council has issued its Reasons for Decision in connection with […]

By Steven Lamb |August 10, 2010

1 min read

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Briefly:

Dynamic Funds has announced the list of mandates for which it proposes to launch a new series for investors residing in provinces not subject to a harmonized sales tax. In all, the company is offering 44 funds in the new series. A complete list of the applicable funds is available by clicking here. The non-HST […]

By Staff |August 10, 2010

3 min read

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New service will rate, review advisors

Life is about choices. And investors shopping for financial advisors are about to get about 80,000 of those. Coming to an online medium near you is an innovative financial advisor data base, Know Your Financial Advisor (www.kyfa.com), that claims to connect advisors and investors like never before. The website positions itself as Canada’s first secure […]

By Vikram Barhat |August 9, 2010

4 min read

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Trailer commissions under siege (Part 1)

New regulatory proposals by the SEC which drastically alter the way U.S.-based mutual fund companies disclose 12(b)-1 fees likely means it will become increasingly difficult for Canadian advisors to rely on non-transparent trailer commissions as their primary source of compensation. In the U.S., 12(b)-1 fees were a relatively innocuous regulatory loophole introduced in the 1970s, […]

By Mark Noble |August 9, 2010

4 min read

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Briefly:

Sun Life names Quebec president Sun Life Financial has appointed Isabelle Hudon as president, Sun Life Financial for Quebec, effective today. She will be responsible for driving the company’s growth in that province. “Isabelle is a well-known figure on the Quebec business scene and her outstanding leadership and entrepreneurial skills will support our goal of […]

By Staff |August 9, 2010

4 min read

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Briefly:

Goodman & Company, Investment Counsel is seeking the approval of unitholders in respect to a proposed change the Dynamic Equity Income Fund’s investment objective. The fund’s current investment objective is “to achieve high income and long-term growth of capital through investment primarily in business, resource, real estate, utility and other investment trusts and interest bearing […]

By Staff |August 6, 2010

5 min read

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IIROC announces discipline against Magna Partners

August 6, 2010 (Toronto, ON) — The Investment Industry Regulatory Organization of Canada (IIROC) and Magna Partners Ltd. have an agreed statement of allegations in which Magna Partners admitted to two violations of best price obligation rules. IIROC and Magna partners have not agreed on an appropriate penalty. A hearing has been scheduled before an […]

By Staff |August 6, 2010

1 min read

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First-date jitters: Setting a prospect at ease

Meeting with a prospective client can make for an exciting day, with the potential for a substantial addition to an advisor’s book of business. But getting to that point can be like pulling teeth, as an unsigned client may be reticent about divulging too much personal information. But put yourself in the client’s shoes: he […]

By Al Emid |August 6, 2010

4 min read

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Beginning the succession discussion

After helping clients with their financial, estate and retirement planning, advisors often have a strong relationship with their clients. That puts us in a unique position to discuss succession planning with those clients who are also business owners. In many cases, we’ve already implemented plans or products to protect their assets and the value of […]

By David Wm. Brown |August 5, 2010

3 min read

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Fund sales fall in July

Canadians proved to be a skittish bunch of investors in July, pulling up to $440 million out of mutual funds, according to early data compiled by the Investment Funds Institute of Canada. That estimate is the worst case scenario — IFIC allows that net sales of mutual funds may have been slightly positive, but anticipates […]

By Steven Lamb |August 5, 2010

2 min read

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