Industry News

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Are you getting RRIF’d off?

As the momentum of activity toward pension and retirement reform builds, current and future retail retirees – those of us who employ retail financial advisors to assist with RRSP account investments and their ilk – might be asking themselves the same question: “Am I getting RRIF’d off? That query may seem a bit inflammatory, but […]

July 5, 2010

4 min read

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Homebuyers doing their homework

Condo or home? Semi-detached or fully detached? New or old? Fixed-rate or variable rate mortgage? Never before has doing the dreaded homework on home-buying been more crucial. Nor has it ever been done so exhaustively, says the first TD Canada Trust Home Buyers Report which surveyed Canadians who have purchased their first home in the […]

By Vikram Barhat |July 5, 2010

3 min read

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Leveraging your connections

Business networking – an often underused skill in the investment business—can add significant value to your business if done well. Often, women shy away from developing the skill because they consider it too opportunistic and have limited knowledge about how to effectively develop it. Viewing your business network critically can yield excellent results and should […]

By Colleen Moorehead |July 2, 2010

6 min read

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Briefly:

Mackenzie Financial has revealed the details of leadership succession for its Maxxum managed mutual funds, following the retirement of Bill Procter, senior vice-president and current head of the Maxxum investment team. “I have enjoyed working with everyone on the Maxxum team and at Mackenzie over the last 16 years. I am confident that the team […]

By Staff |June 30, 2010

3 min read

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OBSI swamped with complaints

The number of complaints against the financial services industry has soared in the past year, with a 48% increase in new cases opened by the Ombudsman for Banking Services and Investments (OBSI). “In 2009, OBSI reviewed more complaints than ever before in its history,” wrote Douglas Melville, who was appointed Ombudsman in August 2009. “The […]

By Steven Lamb |June 29, 2010

3 min read

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Briefly: Changes to T.O. CFA board and more news

Toronto CFA Society has added three new members to its Board of Directors: Josephine Marks, Dale Powell and Gregory Woynarski. Marks is managing director, pension assets at Scotiabank where she is responsible for oversight of its global pension assets. Powell is director, investment consulting at Morningstar Research leading its institutional product and consulting business. Woynarski […]

By Staff |June 29, 2010

2 min read

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Canadian managers increasingly bearish

The number of Canadian investment managers calling themselves bears is growing due to recent economic developments, according to a survey. The latest quarterly survey from Russell Investments shows that Canadian investment managers bearish on the Canadian stock market increased to 19% from 9% three months earlier. At the same time, the percentage of managers considering […]

By Jody White |June 29, 2010

2 min read

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Returns follow the risks

In half a century, nothing much has changed in asset allocation, except for one thing: risk. Modern asset allocation began with the mean-variance model pioneered by Nobel laureate Harry Markowitz in the 1950s, which illustrates how diversification across relatively uncorrelated assets smoothes returns. Given a set of assets with known co-variances, one can construct an […]

By Scot Blythe |June 28, 2010

4 min read

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The IIROC enforcers

Last year was a busy one for securities regulators. As the credit market – and subsequently the economy – collapsed, they faced public pressure to take aggressive action against risky investments and Ponzi-like schemes that left many investors holding the bag. In Canada, the Investment Industry Regulatory Organization of Canada (IIROC) bore the same pressures […]

By David Di Paolo, Cait Sainsbury |June 28, 2010

7 min read

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Ghosts of the TFSA exorcized

It seems they will beat the Tax Free Savings Account bum rap after all. The Government of Canada all but announced on Friday an amnesty on TFSA overcontribution penalties for 2009. This comes as a relief to some 70,000 TFSA holders who inadvertently fell foul of the tax law. A statement issued by Keith Ashfield, […]

By Vikram Barhat |June 28, 2010

4 min read

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