Industry News

Briefly:

The Investment Industry Regulatory Organization of Canada (IIROC) announced today that it had taken the following steps in response to the yesterday’s market volatility. On May 6th, IIROC re-priced or cancelled trades which occurred between 2:40 pm and 3:10 pm in the following securities: • Claymore Canadian Financial Monthly Income ETF (FIE.A): five trades were […]

By Staff |May 7, 2010

2 min read

Industry

Demystifying HNW succession planning

There are few events in an advisor’s career to match the sale of a business by a client. These “sudden wealth” events can bring millions to the book, but are fraught with risks that require expertise beyond the realm of many advisors. For clients, the stress is many times greater, as they family bids farewell […]

By Steven Lamb |May 7, 2010

3 min read

Industry

EMDs must protect the process

For many exempt market dealers (EMDs), especially those never registered before, there are a host of unfamiliar obligations that must be met, many of which are straightforward and administrative in nature (in many cases, third-party service providers offer cost-effective means of addressing many of these tasks). Other tasks and obligations, such as suitability assessment and […]

By Richard E. Austin |May 7, 2010

3 min read

Industry

Briefly:

American consumer sentiment is on the rise, but don’t expect an increase in conspicuous consumption; they’re still cautious in their attitudes toward spending and investing, according to the latest reading for the RBC Consumer Outlook Index. This index climbed 8.1 points in early May, to 72.7, largely thanks to improved outlook on local economies. Even […]

By Staff |May 6, 2010

2 min read

FaceOff: IIROC vs. MFDA

To IIROC or not to IIROC? We put the question to three successful advisors with three very different approaches, and got some great answers. YES Bruce Vaillancourt, CFP, CSA, Senior Financial Advisor, Vaillancourt Wealth Management/Manulife Securities Inc. Bruce Vaillancourt was an MFDA advisor before he moved to IIROC. In the first year after his move, […]

13 min read

Live well, give back, leave a legacy

There’s far more to life than money, but it sure is an important tool for attaining other goals. “I believe money is an enabler that allows us to do valuable things in our life,” said Susan Latremoille, a top practicing wealth advisor at Richardson GMP, at the Investing in You conference in Toronto, today. Latremoille, […]

2 min read

Advisors ignore own succession plans

The financial services sector faces an advisor succession crisis, due in large part to an industry structure that discourages advisors from arranging succession plans, according to speakers at the recent Advisor Distributors’ Summit. “There’s very little value for an advisor to say ‘I’m doing everything I can to build this thing up so I can […]

4 min read

Making the leap to IIROC (Part 2)

The first three months: The good, the bad, the ugly and the paperwork In the previous article I shared the rationale of our decision to move from the MFDA to IIROC. Part Two will go through the nuts and bolts of the move and how things are now that the dust has settled. It’s official, […]

5 min read

Fund sales slip into negative territory

Mutual fund sales declined in April, as the last vestiges of RRSP season subsided. The industry tends to see a blip in March, as last minute contributions are invested, but by April, most capital is deployed and sales sag. Last month the industry was hit by net redemptions of between $1.25 billion and $1.75 billion, […]

2 min read

Active managers shine in Q1

Active management is not dead, judging by the results of the first three months of 2010. Three quarters of Canadian Large Cap active managers outperformed S&P/TSX, according to the Russell Active Manager Report, the highest level since the second quarter of 2004. “The last two quarters have really highlighted the benefits of active management,” says […]

2 min read