Industry News

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Infrastructure money flows too slowly: Survey

Despite an increase in funding options available, infrastructure projects and investments remain burdened by cumbersome decision-making according to a KPMG International survey. KPMG’s global survey of more than 455 infrastructure executives globally — including 129 from North America — conducted in co-operation with the Economist Intelligence Unit, found growing concern about the future of infrastructure […]

By Mark Noble |August 4, 2009

3 min read

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Teams perform better than lone-advisors

A life insurance licence has proven its worth during this downturn. Specifically individual life insurance sales, which held up remarkably well in what has been an extraordinarily bad recession, according to recent data from LIMRA. “Canadian life insurance sales were relatively level, with only a 1% decline for annualized premiums in the first quarter of […]

By Mark Noble |August 1, 2009

5 min read

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Advisors want to ditch paper applications

Much has been made of the trend toward replacing mutual funds with segregated funds, and the shift away from the MFDA platform, in advance of the registration reform. According to Paul Brown, president and CEO of Worldsource Insurance Network, in the last 15 to 20 years, a lot of insurance advisors became “hobby advisors” on […]

By Steven Lamb |August 1, 2009

4 min read

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Opinion: IIROC brochure misses the fiduciary angle

Our advisors are better. That’s the basic message contained in a consumer-directed brochure issued this week by the Investments Industry Regulatory Organization of Canada (IIROC). In light of recent events, the pamphlet, “Why IIROC Matters to you, the Investor,” is an appropriate reminder of why clients should keep tabs on how their advisors are licensed. […]

By Philip Porado |July 31, 2009

2 min read

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Briefly:

U.S. Secretary of State Hillary Clinton said Friday that there had been an agreement “in principle” with Switzerland over a tax case involving Swiss bank UBS. “There has been agreement reached in the litigation,” said Clinton before a meeting with Switzerland’s foreign minister. Asked if there were any outstanding issues in the case, Clinton said […]

By Staff |July 31, 2009

3 min read

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Claymore sold to Guggenheim

Claymore Group and its rapidly growing Canadian subsidiary Claymore Investments, has been sold to Guggenheim Partners, an investment management firm that supervises more than $100 billion in assets. The acquisition could have reverberations in the Canadian market, where Claymore has been a major player in the ever-expanding exchange-traded fund (ETF) market. The firm has seen […]

By Mark Noble |July 31, 2009

2 min read

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Plan for a long recovery: BMO Harris

While the worst of the downturn may be over, investors should bear in mind that recent gains in the market are fragile and remain under threat of the negative economic data, according to the two chief investment strategists at BMO Harris. The bounce back in the equity markets has undermined the “this time it’s different” […]

By Mark Noble |July 30, 2009

5 min read

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Briefly:

As part of Bank of America Merrill Lynch’s plan to expand its corporate banking business in Canada, the firm has hired Chris Impey as head and Daljeet Lamba as managing director of Canada corporate banking. “This is an exciting growth area for our business in Canada, and Chris’s and Daljeet’s local expertise and extensive client […]

By Staff |July 30, 2009

4 min read

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Recession hits charitable giving

It is no surprise that charities suffer during market downturns. In the recent recession, most charities saw a sharp drop in major donations. Meanwhile, donor-advised funds flattened and endowments funds shrunk. “Community Foundations Canada recently announced that donations across the system were down 37% year over year,” says Malcolm Burrows, head of philanthropic advisory services, […]

By Rayann Huang |July 29, 2009

4 min read

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Briefly:

On June 13, 2009, 1,029 Certified Financial Planner (CFP) candidates wrote the Financial Planners Standards Council’s (FPSC) CFP examination, and 39.8% passed. Of those writing the examination for the first time, 43.8% passed. “FPSC congratulates all successful CFP examination candidates who are one step closer to joining the ranks of more than 17,000 Canadian and […]

By Staff |July 29, 2009

2 min read

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