Industry News

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Bull markets ruin good planning

A client of mine sells security systems. Whenever he has potential customers call him about buying a home alarm, he asks them when they were robbed. He knows most people take home security seriously after they’ve had a break-in. Human nature is like that. We only prepare for risks after they’ve hit close to home. […]

By Harper Fraze |June 11, 2010

4 min read

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FaceOff: Retirement planning

Moderated by: Vikram Barhat Participants: Keith Pangretitsch, CFA, Director, National Sales, Russell Investments, Scott Robertson, President, Tasman Financial Services, Ottawa. Scott Robertson: My basic retirement strategy is customized to individual client needs – whether it is cash management or proper investment strategy – based on an in-depth analysis of each client. Usually it’s a combination […]

By Staff |June 11, 2010

9 min read

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Briefly: ‘CI proposes fund mergers’ and more news

CI Investments has announced the merger of several mandates within the United Financial Artisan Portfolios, as well as several more under the Institutional Managed Portfolios brand. “The mergers will streamline and simplify our lineup while putting investors into funds that offer enhanced tax efficiency through CI’s Corporate Class structure,” said Derek J. Green, president and […]

By Staff |June 11, 2010

1 min read

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Industry must return to stewardship model: Bogle

The investment industry should return to its roots and abandon salesmanship for stewardship, according to an esteemed panel of two at the recent CFA Institute conference in Boston. Putting clients first should be an obvious first step said Jack Bogle, founder of the Vanguard Group and Christopher Davis, chairman of Davis Selected Advisers. While the […]

By Steven Lamb |June 10, 2010

5 min read

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Boomers in retirement fantasyland

On the heels of a StatsCan report indicating that all boomers will be eligible for retirement within the next 20 years, a BMO Retirement Institute poll finds that only 48% of boomers are prepared for retirement. This means that less than half are planning or have already discussed their post-retirement income strategies with a financial […]

By Jody White |June 10, 2010

2 min read

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Come forward with full disclosure: CRA

The message from the Canada Revenue Agency (CRA) is loud and clear — and aggressive. Voluntary disclosure is easier than an audit — come clean or face the consequences. The 12th national conference of the Canadian chapter of the Society of Trust and Estate Practitioners (STEP Canada) provided the platform from which the CRA offered […]

By Vikram Barhat |June 10, 2010

3 min read

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Briefly: ‘AMF teams with United Arab Emirates’ and more news

The Québec Autorité des marchés financiers (AMF, the Emirates Securities and Commodities Authority (ESCA), the agency responsible for ensuring efficient securities markets in the United Arab Emirates,entered into a co-operation agreement. The purpose of this agreement is to set up and implement a system for mutual assistance and exchange of information between the ESCA and […]

By Staff |June 10, 2010

1 min read

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Best of 2010: Profits may be worthless, Klarman says

Speaking at the CFA Institute’s annual conference in Boston, Seth Klarman, founder and president of the Baupost Group, and author of the much-sought-after Margin of Safety, opined that earning money is the easy part, but that ensuring U.S.-dollar denominated profits retain their value may become a challenge. The following story appeared in our Top Minds […]

By Steven Lamb |June 9, 2010

4 min read

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Predatory trading

It happens to every trader: you place a bid for a thousand shares of thinly traded stock at a nickel above the best bid showing, and before you can blink, there’s another bid a penny in front of you. While desirable from a capital markets perspective – the bid/offer spread is, after all, declining, which […]

By James Hymas |June 9, 2010

8 min read

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Briefly: ‘IIROC fines advisor’ and more news

An IIROC hearing panel has imposed a fine of $36,500 against James Jannetta and has required him to pay costs of $15,000 for numerous breaches of IIROC’s business conduct. The panel found that Jannetta failed to record or update client investment objectives and risk tolerance in two client accounts and engaged in discretionary trading in […]

By Staff |June 9, 2010

3 min read

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