Industry News

Decorative pattern

Sun Life creates advisor match service

It may not be as scintillating as online dating services, but Sun Life has entered the matchmaking business creating Advisor Match, a website that matches up clients with advisors based on compatibility. “Through focus groups, consumers told us that the recent recession has changed what they’re looking for from companies they deal with for financial […]

By Mark Noble |October 20, 2009

3 min read

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Briefly:

The Bank of Canada is warning that the loonie is hurting Canada’s recession recovery. The bank left its policy interest unchanged at 0.25% and will hold current policy rates until the end of the second quarter of 2010. “Heightened volatility and persistent strength in the Canadian dollar are working to slow growth and subdue inflation […]

By Staff |October 20, 2009

4 min read

Decorative pattern

Car purchases are the worst kind of debt

One of the things I often recommend my clients work into their financial plan are major purchases. When it comes to my clients, as well as my own finances, the one purchase I hate the most is buying a car. You would think I would hate credit cards the most. Don’t get me wrong, they […]

By Stephanie Holmes-Winton |October 19, 2009

6 min read

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Feds look to shut down certain TFSA practices

Advisors who think they’ve found a great tax-loophole in the tax-free savings account (TFSA) rules, may want to revisit their strategy. On Friday, Canada’s Minister of Finance, Jim Flaherty, proposed amendments to the Income Tax Act to bulk-up certain restrictions on the use of TFSAs. Essentially, the government would clarify certain features of the TFSA […]

By Mark Noble |October 19, 2009

3 min read

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Briefly:

“Domestic momentum” should help corporate earnings outpace the challenges of a soaring loonie, a new report from CIBC World Markets points out. “We see profit levels north of the border benefiting from some critical offsetting factors,” says Peter Buchanan, senior economist with CIBC, in the latest TSX Earnings Watch. “Canadian consumers and businesses still look […]

By Staff |October 19, 2009

4 min read

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Outwitting the bear

Returns have been good for some hedge fund managers this year. But despite the stock market rally, they are sanguine about the prospects for a full economic recovery. There has been a sea change. The unwinding of financial leverage brought stock and debt markets to lows experienced at the depth of the tech crash as […]

By Scot Blythe |October 16, 2009

4 min read

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When it comes to insurance, choose wisely

More than 30 years ago, I entered into the insurance industry as a career agent for the Canadian division of the Paul Revere Life Insurance Company. Despite a host of life insurance products, the company’s true focus was on “accident and sickness” — providing disability income or income replacement insurance (a protection product that replaces […]

October 16, 2009

10 min read

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Funds continue to get investors back

The slow return of billions of parked investment dollars continued last month as long-term mutual fund mandates experienced another strong month of net sales, according to data from the Investment Funds Institute of Canada (IFIC). While overall net sales were down for the industry, the run-up in market valuations seems to help total mutual fund […]

By Mark Noble |October 15, 2009

3 min read

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Briefly:

Canada gets a new chartered bank. Canadian Home Income Plan CorporationCorp. (CHIP), (the operating subsidiary of HOMEQ CorporationCorp.,) has been granted the authority to open Canada’s newest chartered bank: HomEquity Bank (Banque HomEquity). HomEquity Bank will have immediate access to retail deposits sourced through deposit brokers. HomEquity Bank’s predecessor, Canadian Home Income Plan CorporationCHIP Corp., […]

By Staff |October 15, 2009

2 min read

Decorative pattern

Crocus investors get money back

Advisors across Manitoba are preparing to call thousands of clients today, and it’s safe to say they’re expecting a more-than-hospitable reception. That’s because for the first time in nearly five years, they’re calling with good news about the Crocus Investment Fund. Less than six weeks after a Manitoba judge finally approved a $54.7-million distribution to […]

By Geoff Kirbyson |October 15, 2009

3 min read

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