Industry News

Decorative pattern

Briefly:

Avery Shenfeld, chief economist at CIBC, says self-congratulatory accolades about Canada’s comparative economic performance need to be put in context. “Of late, our self-congratulations have extended to economic performance, with Canadians cheering our lower unemployment, sounder banking system, solid mortgage market and climbing house prices. Clearly, the recession hit less hard on this side of […]

By Staff |October 23, 2009

4 min read

Decorative pattern

Making a strong case for LTC

There’s a way to successfully integrate long term care insurance (LTC) into an advisor’s practice, but it takes some work. Client segmentation, credentialed staff, carefully scripted conversations and structured meetings all help to effectively integrate long term care insurance into an advisor’s practice, according to Greg Pearson, insurance specialist at Meckelborg Financial Group Inc. in […]

By Art Melo |October 23, 2009

3 min read

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Planning and Advice

Great teams need great players

In our coaching work, we always do an assessment of the roles that each team member plays within a financial advisory firm. After looking at the strengths and weaknesses of a team member, we are able to evaluate how well suited that individual is for their respective role. To illustrate this more clearly, let’s use […]

By Kim Poulin and Art Schooley |October 22, 2009

3 min read

Decorative pattern

TFSA changes update

There have been a couple of questions raised by advisors about the new restrictions placed on the Tax-free savings account (TFSA), which were announced last week. Advisor.ca’s French language sister site, Conseiller.ca, was asked whether the government in Quebec would harmonize its version of the TFSA, called the CELI, with the federal government. The answer […]

By Mark Noble, Claude Couillard |October 22, 2009

3 min read

Decorative pattern

Canadian saving habits questioned

A lingering question is whether the events of the past year have forced Canadians to save more. Two studies released from different institutions have reached different conclusions. According to RBC/Ipsos poll of 1,000 Canadians, people are actually saving less than they were before. The survey found that one-third of Canadians (34%) indicate they are saving […]

By Mark Noble |October 22, 2009

4 min read

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Briefly:

All that glitters is gold, this according to Toronto-based Bullion Management Group (BMG). BMG predicts that gold prices will continue their rapid rise, matching their 314% increase in the last eight years. “The formula for inflation—rising oil prices and increasing money supplies—is already well in play and this should fuel further increases in gold prices,” […]

By Staff |October 22, 2009

2 min read

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Manulife offers new LTC choice and more news

With primarily baby boomers in mind, Manulife Financial has introduced a product feature that allows new and existing individual disability insurance customers to switch their coverage to long-term care insurance. For details, and to read other financial services industry updates, click the “full story” button below. With primarily baby boomers in mind, Manulife Financial has […]

By Staff |October 21, 2009

3 min read

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Canada takes leading role in CFA mark

Canada is a strong testament to the power of a designation, says the president of the CFA Institute, the organization that administers the global Chartered Financial Analyst (CFA) designations, where a growing number of client-facing advisors are opting for the designation and the Canadian societies are taking a direct advocacy role in this country’s capital […]

By Mark Noble |October 21, 2009

4 min read

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Invesco buys Morgan Stanley unit

Invesco Ltd., the parent company of Canadian-based Invesco Trimark, signed a huge deal yesterday to acquire Morgan Stanley’s retail asset management business, including Van Kampen Investments. Through this transaction, Invesco acquires a diversified business with $119 billion in assets under management (AUM). The transaction is valued at $1.5 billion, including cash and stock that provides […]

By Mark Noble |October 20, 2009

2 min read

Decorative pattern

Surviving a dealer buyout

Independent investment dealers are increasingly becoming the target of buyouts. If an affiliated advisor is not prepared, a buyout can leave them in the lurch with increased personal costs and strained client relationships. Unresolved questions overhanging the recovery typically focus on the investment landscape, potential yields on various assets, length and breadth of the recovery […]

By Al Emid |October 20, 2009

4 min read

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