Industry News

Americans in Canada: A taxing situation

Much has been written about the planning issues of Canadians moving to the U.S. But how many advisors are aware of the issues Americans face when they move to Canada or already reside here? Many U.S. citizens move to Canada and stop filing U.S. tax returns because they’re unaware it’s still required of them. But […]

By Terry F. Ritchie |August 1, 2010

7 min read

Industry

Advisor liability For misrepresentations

On May 13, 2010, the Alberta Securities Commission imposed sanctions against Hav-Loc Private Wealth Partners Inc. and its President and CEO, Thierry Gevaert, for making misleading and untrue statements in the company’s marketing material regarding its due-diligence activities, thereby breaching securities laws. The message? Due diligence misrepresentations will have serious consequences. Securities legislation includes provisions […]

By Richard E. Austin |August 1, 2010

4 min read

Industry

Front End Load: Immigrants investing in Canada

Immigrants have been a boon to those advisors with the language skills and cultural understanding to harness the market, but it’s a two-way street. Not surprisingly, a number of advisors step up to the plate every day to give back to their communities, donating their time and expertise to worthy charitable causes. Interestingly, they often […]

By Nancy Turner |August 1, 2010

5 min read

Industry

Canadians struggle to build emergency fund

If there is one trend from the past that deserves to be elevated to retro-chic status, it is saving. In an effort to foster a higher savings rate, Scotiabank is encouraging Canadians to start socking away what they can. Scotia is encouraging its clients to employ an automatic savings plan, which is probably good advice […]

By Steven Lamb |July 30, 2010

2 min read

Investors focused on retirement income

Canadian investors are suffering from signs of uncertainty and declining financial health thanks to Greece disease, according to the Russell Financial Health Index (RFHI). The study says they are most concerned about having a reliable source of income and leading an active and healthy lifestyle in retirement. “According to the RFHI, investors’ confidence in their […]

2 min read

Advisor to swim Lake Ontario in polio fight

If all goes according to plan, next Saturday night Thie Convery will be cold, wet and exhausted. She will also be thrilled to have swum across Lake Ontario in a fundraising effort to wipe out the last vestiges of an ancient disease. “I’m a Rotarian, and Rotarians worldwide have taken up the challenge of eradicating […]

By Steven Lamb |July 30, 2010

3 min read

Briefly:

Dynamic Funds has launched the Dynamic Emerging Markets Class, which will combine growth and value investing in one emerging markets mutual fund. As part of the Dynamic corporate class structure, it also offers tax efficient switching. The fund is managed by two of Dynamic’s stars: growth manager Rohit Sehgal and value-focused Chuk Wong, who will […]

By Steven Lamb |July 29, 2010

2 min read

Annuities swept up in SEC fund fee proposal

The SEC thinks mutual fund 12b-1 fees have gotten out of hand, and is proposing new rules to limit them and provide greater disclosure for investors. The SEC’s 278-page 12b-1 proposal could also impact the use of distribution fees in the mutual funds in variable annuity subaccounts. “When it comes to 12b-1 fees, there is […]

4 min read

Retirement taking a backseat to present: BMO

Why are Canadians dragging their feet when it comes to retirement planning? BMO says the answer can be found inside their minds. Using behavioural finance research, the bank believes it has uncovered clues as to why Canadians are procrastinating the way they are. A report from BMO Retirement — entitled Retirement Planning: Can I Get […]

By John Powell |July 29, 2010

2 min read