Industry News

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Leveraged ETFs not bogeyman: Hallett

Critics of leveraged exchange traded products probably don’t understand how to use them properly, according to leading independent investment fund analyst Dan Hallett. “I think the first lesson is to read the prospectus thoroughly,” Hallett says. “This I think is at the core of any of the criticisms that are out there. Had investors in […]

By Steven Lamb |September 9, 2009

5 min read

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Briefly:

As part of its strategic expansion in Canada, Barclays has appointed Ian Montgomery as COO of the Canadian operations and John Kennedy as chief compliance officer of Canada. Montgomery will be based in New York. He will be responsible for coordinating front office activities in Canada. Kennedy will be based in Toronto. He will be […]

By Staff |September 9, 2009

2 min read

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Fairfax unveils Odyssey bid

Fairfax Financial Holdings has announced its plan to acquire the remaining shares of Odyssey Re Holdings, which it does not already own, in a bid to take the U.S.-based re-insurance firm private again. The offer of $60 per share represents a premium of 23% over the 30-day average closing price. To fund the purchase, Fairfax […]

By Staff |September 8, 2009

2 min read

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DC pension members need to be engaged

Employers that provide defined contribution (DC) pension plans to their staff are being urged to provide more guidance by one of the leading consultancies in the field. The challenge for many plan administrators is to engage the marginally interested plan member and provide appropriate default investments for those who simply refuse to take responsibility for […]

By Steven Lamb |September 8, 2009

3 min read

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Vijay Parmar has been appointed president of RBC Phillips Hager & North Investment Counsel Inc., subject to regulatory approval. Parmar is expected to begin his new role in mid September 2009. Parmar was most recently branch manager, vice-president and director, RBC Dominion Securities, in Vancouver with RBC Dominion Securities. Darrell Oswald and Patrick Keeley were […]

By Staff |September 8, 2009

3 min read

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CFAs question advisor ethics

Canada’s Chartered Financial Analysts (CFA) may be neither impressed nor disgusted with the ethical behaviour of Canadian market players, but a new survey finds charterholders reserve particular condemnation for Canadian financial advisors and enforcement regulation in the country. According to the CFA Institute’s Canadian Financial Market Integrity (FMI) report, the opinions of charter holders who […]

By Mark Noble |September 8, 2009

4 min read

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Mutual fun: Our Friday financial funnies

You’re sending ’em, we’re running ’em. So keep the train rolling. Here’s the best from this week’s crop of stories advisors across Canada shared with us about the funny side of the investments business. Medical miracles A Prairie advisor shares two tales. The first is from an insurance advisor who had a unique way of […]

By Philip Porado |September 4, 2009

2 min read

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Demand for variable annuities remains strong: U.S. Study

Selling variable annuities — guaranteed minimum withdrawal products in Canada — may not be the easy sell it was, but it’s still a strong product offering. The challenge is whether product providers can continue to afford to offer them without rolling back more features and raising fees, a comprehensive study by the Financial Research Corporation […]

By Mark Noble |September 4, 2009

4 min read

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Briefly:

The Canadian economy generated about 27,000 net new jobs in August, according to StatsCan, led by an increase in part time work. Part-time employment increased by 30,000 in August, while full-time jobs dropped by approximately 3,000. “Half a loaf, or in this case, half a job, is better than none,” CIBC said in its analysis […]

By Staff |September 4, 2009

3 min read

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Education saving: Balancing RESP with TFSA

With the start of the school year just around the corner, many Canadian parents are tapping into the education funds that they set aside for their children. Until this year, probably the best way to save for post-secondary expenses was the RESP, but with the advent of the TFSA in January, there’s a new kid […]

By Steven Lamb |September 3, 2009

2 min read

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