Industry News

Decorative pattern

RFPs see glimmer of recovery

(London, Ont.) Advisors at the Institute of Advanced Financial Planning’s annual symposium in London, Ont. shared a laugh and some optimism that this quarter’s financial statements will be more pleasing for clients. Said one R.F.P, “I actually can’t wait to get back to the office and send out my statements, because the clients are going […]

By Philip Porado |October 1, 2009

1 min read

Decorative pattern

Small differences earn referrals

The majority of Canadian clients appear to be satisfied by their advisors, a new study sponsored by Univeris has found. But it takes a very high level of engagement for clients to refer their advisor to family and friends. The study, conducted by Advisor Impact on behalf of Univeris, compiled feedback from the last four […]

By Mark Noble |October 1, 2009

5 min read

Decorative pattern

Briefly:

CIBC Asset Management has named Connor, Clark & Lunn Investment Management to act as portfolio sub-advisor for the small-cap component of the Imperial Canadian Equity Pool, effective Nov. 2, 2009. “CIBC Asset Management is focused on partnering with portfolio managers that deliver strong returns and manage risk for our clients,” says Steve Geist, president of […]

By Staff |October 1, 2009

2 min read

Decorative pattern

Ontario hints at HST exemption for funds

Premier Dalton McGuinty says his government is talking to the mutual fund industry about a possible exemption to the harmonized sales tax. He says there’s no agreement right now, but the Ministry of Finance is in discussions with mutual fund companies and other groups to make sure his government “gets it right” on tax harmonization. […]

By Staff, with files from The Canadian Press |September 30, 2009

3 min read

Decorative pattern

Briefly:

The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) are seeking comment on a joint consultation paper on the role of dark liquidity pools. Entitled Dark Pools, Dark Orders and Other Developments in Market Structure in Canada, the paper raises concerns about the interaction between transparent orders and dark orders, […]

By Staff |September 30, 2009

3 min read

Decorative pattern

RBC enters U.S. advisor service market

Royal Bank of Canada has struck a deal to acquire the third party registered investment advisor servicing business of J.P. Morgan. “Growing and enhancing RBC Advisor Services is a strategic priority for our firm, and this acquisition represents an important step in our quest to become the finest investment advisory and wealth management firm in […]

By Staff |September 29, 2009

1 min read

Decorative pattern

Wellington West buys Brownstone

Wellington West Holdings has reached an agreement to purchase Brownstone Investment Planning Inc. a privately-held, Winnipeg-based financial planning firm. “We were truly impressed at the calibre of people and expertise at Brownstone,” says Wade Lawrence, president with Wellington West Financial Services Inc. “Acquiring Brownstone will strengthen Wellington West’s overall financial planning offering, providing us further […]

By Steven Lamb |September 29, 2009

2 min read

Decorative pattern

Briefly:

Change is coming to Canaccord. On Dec. 1, Canaccord Capital will officially become Canaccord Financial Inc. and its ticker symbols change from “CCI” to “CF” on the TSX. Canaccord Capital Corporation will also change its name to Canaccord Financial Ltd. and Canaccord Financial Services Ltd. will change its name to Canaccord Insurance Services Ltd. “Becoming […]

By Staff |September 29, 2009

4 min read

Decorative pattern

Mawer’s Cooper-Key relinquishes management duties

Star fund manager, Gerald Cooper-Key, is giving up his day-to-day activities as the co-manager of the Mawer World Investment Fund effective March 31, 2010. Cooper-Key, the 2007 Morningstar fund manager of the year, is not leaving Mawer. The decision reflects his desire to “change his focus at this stage of his career.” Cooper-Key will continue […]

By Mark Noble |September 29, 2009

2 min read

Decorative pattern

Wealth managers need institutional mindset

Advisors serving the private wealth market should consider focusing on the client’s liabilities, rather than the traditional approach of focusing on assets first, according to a French investment thinktank. A research report from EDHEC-Risk Institute, entitled Asset Liability Management in Private Wealth Management, advocates for the adoption of institutional-style matching of assets to liabilities as […]

By Steven Lamb |September 28, 2009

3 min read

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