Industry News

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Week in review: January 12-16, 2009

Welcome to the weekly roundup of news affecting you, as covered by Advisor.ca and our sister publication, Conseiller.ca. Read this section every week to catch up on the news you missed, or click here and subscribe to get regular updates sent to your inbox or BlackBerry. Skip to: Quick links, stories this week. Or click […]

By Kate McCaffery |January 16, 2009

8 min read

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Briefly:

Canadians say they are aware of the economic problems and are taking steps to protect themselves from personal fiscal disaster, but their actions appear to fall short of their claims, according to a survey by BMO Financial Group. The BMO Savings Monitor survey found that nearly two-thirds of Canadians say they will cut back on […]

By Staff |January 16, 2009

4 min read

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Retirement more difficult for singles

The financial strain on single people in retirement is substantially higher than if they are married, a new report from the BMO Retirement Institute says. Since many clients, particularly women, will likely spend a portion of their retirement without their spouse, advisors need to create a contingency plan. Already, nearly one-half of Canadians over the […]

By Mark Noble |January 16, 2009

3 min read

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Briefly:

American consumer confidence has taken another hit, according to the RBC CASH (Consumer Attitudes and Spending by Household) Index, but expectations for the future are starting to improve. A six-year low was reached for the January 2009 reading of the index, following dismal retail and employment data for the final quarter of 2008. The January […]

By Staff |January 15, 2009

3 min read

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December punctuates terrible 2008: IFIC

The Investment Funds Institute of Canada can be counted on to accentuate the positive in the fund industry — for instance, sales for funds overall were positive for 2008, by $100 million. It’s pretty evident, however, that it was the worst sales year in the industry’s history, and December didn’t do much to change that. […]

By Mark Noble |January 15, 2009

3 min read

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advancement of the status of the profession advancement of the status of the profession advancement of the standards of the profession reflection/embodiment of the profession industry visibility and knowledge impact of contribution Past winners of the award include Donald J. Johnston, founder and now retired president of FPSC; Alistair Rickard, the 2007 recipient and 2004 […]

By Staff |January 14, 2009

3 min read

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10/8 Strategies on CRA radar

The 2008 tax season has a new development. Although nothing has been formally announced, it’s believed the Canada Revenue Agency will be taking a harder look at the leveraged insurance programs — known as 10/8 strategies — being offered by a handful of carriers. The 10/8 strategy has been around for years, but as was […]

By Mark Noble |January 14, 2009

4 min read

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Briefly:

With tough economic times and volatile market returns, a survey of Ontarians has found that investors may be wary of contributing to their RRSP this year. The survey found seven in 10 will contribute the same amount to their RRSP this year as they did last year, or less. Roughly 30% will not contribute to […]

By Staff |January 13, 2009

3 min read

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BMO picks up AIG Life business

BMO Financial Group is expanding its presence in the advisor channel with the acquisition of AIG Life of Canada. The deal adds 300 employees and 400,000 customers to BMO’s insurance operations. It also gives BMO access to 5,000 life brokers across Canada through AIG’s relationships with managing general agents. “This acquisition is a perfect extension […]

By Scot Blythe |January 13, 2009

2 min read

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Opinions split over single regulator recommendation

The verdict is out. While Ontario, Nova Scotia and British Columbia have expressed support for Finance Minister Jim Flaherty’s plan for a national securities regulator, Alberta and Quebec have outright balked at the recommendations, threatening legal action in a bid to keep jurisdiction over regulation. Flaherty said in a statement that the seriousness of the […]

By Kanupriya Vashisht |January 13, 2009

3 min read

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