Industry News

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Montreal

Details are sketchy, but according to Quebec’s security regulator, an unlicensed “advisor” based in Montreal may have committed one of the worst financial frauds in Canadian history. Bertram Earl Jones, the principal owner of a west-Island based advisory practice called Earl Jones Consultant and Administration Corp. — not to be confused with the large advisory […]

By Mark Noble and Claude Couillard |July 13, 2009

3 min read

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Manulife faces class action in New York

A class action suit has been filed in the U.S. against Manulife, alleging the Canadian insurance giant made false and misleading statements regarding its risk management regime. The suit follows the announcement on June 19 that the Ontario Securities Commission had commenced an enforcement probe into whether the company had adequately met its continuous disclosure […]

By Steven Lamb |July 10, 2009

1 min read

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Compensation does not determine good advice, readers say

Last week’s opinion piece on commissions by Jason Pereira continues to provoke tons of reader feedback. Pereira believes that Canada should follow the United Kingdom’s lead by banning upfront commissions from all products. This week, many readers disagreed with Pereira’s stance. Here is what some of you had to say on the subject. Richard Knowles, […]

By Staff |July 10, 2009

4 min read

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Briefly:

There was little change to employment in June, leaving total job losses for the past three months at 13,000. The unemployment rate moved up slightly by 0.2 percentage points to 8.6%. Further losses in full time employment offset the gains in part time. Since employment peaked in October 2008, full-time losses (-454,000) have been only […]

By Staff |July 10, 2009

3 min read

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Stick with stocks, CIBC says

The average investor should resist the urge to bail out of stocks, as the coming 18 months promise more potential on the upside than the downside, according to the CIBC chief economist Avery Shenfeld. That being said, he expects the summer months will offer little growth, and that investors should simply sit tight and buy […]

By Steven Lamb |July 9, 2009

2 min read

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Briefly:

The Canadian housing market has proven resilient over the past few years, resisting the oversized mid-decade price increases seen elsewhere, and also steering clear of more recent collapses. But what is the driver of this steady long-term growth? The answer may lie in Canada’s immigrant population, which has narrowed the home ownership gap with their […]

By Staff |July 9, 2009

2 min read

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Advisors see recovery, but remain cautious

The global economy is prepped to restart, with commodities and emerging markets expected to boom, but don’t expect the U.S. to be much of a leader. That’s the picture painted by the BetaPro Management’s third quarter Advisor Sentiment Survey. Opinion on Canadian large cap stocks is evenly split, with 40% bullish on the S&P/TSX 60 […]

By Steven Lamb |July 8, 2009

2 min read

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Briefly:

Swiss banking giant UBS has found itself in the middle of an international tug-of-war. Switzerland’s Federal Department of Justice and Police has stated in no uncertain terms that it would be illegal for UBS to hand client information over to the U.S. government, which is seeking details on 52,000 accounts held at the bank. America’s […]

By Staff |July 8, 2009

4 min read

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The IPP advantage

If your clients are business owners, senior executives or incorporated professionals constantly disgruntled with having to shell out hefty tax dollars year after year, now’s the time to talk to them about Individual Pension Plans (IPPs). And since doctors, lawyers and other professionals could not incorporate in Ontario until about three years ago, in all […]

By Kanupriya Vashisht |July 8, 2009

7 min read

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Clients say experience guides choice of advisor

Investors rely on the insight provided by their financial advisors, but may not see them as the sole or even best source of investment information, according to a survey of 1,000 Canadians who currently use a financial advisor. The survey served as the basis of a report to the Joint Standing Committee on Retail Investor […]

By Steven Lamb |July 7, 2009

2 min read

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