Industry News

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Briefly:

A hearing panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada has imposed a permanent prohibition on Wayne Larson from conducting securities related business and a fine of $205, 000. In the reasoning for its decision among some of the instances of misconduct included Larson’s dealing with fraudulent companies, including […]

By Staff |November 9, 2009

3 min read

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Briefly:

Canadian investors will soon have access to the investment guidance of oil patch legend T. Boone Pickens. The T. Boone Pickens Energy Fund has filed its preliminary prospectus in every jurisdiction in Canada. The closed-end fund will be managed by TBP Investments Management, LLC, led by Pickens himself, who will own 10% of the fund’s […]

By Staff |November 6, 2009

3 min read

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Advisors rate their distributors

Advisors weather economics storm by reducing spending and augmenting services, and they expect their distributors to act similarly. A study conducted for our 2009 Distributors’ Summit found, overall, distributor-advisor relations are positive, with the vast majority of advisors (90%) noting they have a good working relationship with their distributors. What makes a good distributor? It […]

By Tricia Benn |November 6, 2009

2 min read

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Income changes better indicate real net worth

Mr. Darcy, the proud protagonist of Jane Austen’s Pride and Prejudice, was greatly admired for having an income of “10,000 [pounds] per year.” Based on the novel and the films, he certainly seems to have had a nice lifestyle with his London townhouse and huge country estate. But his story begs the question: Why was […]

By John Nicola, CLU, CHFC, CFP |November 6, 2009

4 min read

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How dealers are building real value

The impending demographic shift in the advisory channel represents a massive challenge for all involved. The largest cohort of advisors will be retiring within a scant few years of each other, forcing them to compete for buyers to acquire their books of business. Worse still, many will be selling a book dominated by older clients, […]

By Steven Lamb |November 6, 2009

4 min read

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Advisor needs should drive fund development

How a mutual fund provider designs its fee platform can tell advisors a lot about how serious they are about serving the advice channel, says Tye Bousada, cofounder and co-CEO of upstart Edgepoint Wealth Management. Before launching any product, Bousada traveled across Canada for nearly nine months meeting with successful advisors to get feedback on […]

By Mark Noble |November 6, 2009

3 min read

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Interest returns to leverage strategies

The benefits of leveraged investing are fairly well recognized. You can easily magnify portfolio returns, and clients can deduct their interest payments at their marginal tax rate, assuming the leverage strategy not used in a registered account. Leverage is not for everybody. It adds a whole new layer of risk to investing. If the investment […]

By Mark Noble |November 6, 2009

5 min read

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Briefly:

U.S. consumer confidence plunged over the course of the last month as higher energy costs, rising unemployment and gyrating stock markets weighed on the collective consciousness, according to the latest reading of the RBC CASH (Consumer Attitudes and Spending by Household) Index. The index fell 21.6 points from its early October reading, to 30.2 at […]

By Staff |November 5, 2009

2 min read

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CSA catches an earful on POS

The Canadian mutual fund industry has responded en masse to the Canadian Securities Administrators (CSA) point–of-sale disclosure rules, making the case that it will undermine the ability of advisors to effectively sell mutual funds. In a number of industry submissions to the CSA, the same theme arises: the increased burden and cost to dealers and […]

By Mark Noble |November 5, 2009

4 min read

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Learn to tell your story: Advisor coach

As a veteran sports reporter, Jim Gray used to write about the relationships between coaches and players. Now as the principal owner of Media Strategy Inc. in Toronto, Gray is a coach himself, teaching financial advisors how to better communicate with their clients. “I live and breathe this company. I work really hard at it. […]

By John Powell |November 5, 2009

3 min read

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