Industry News

Decorative pattern

Actuaries call for federal help on pensions

There is a growing chorus of calls for the reform of Canada’s system of private pension plans, after some corporate plan sponsors suggested they may face bankruptcy unless solvency rules are eased. Many private pension plans are facing massive solvency shortfalls, due to horrendous losses in their equity portfolios. Come year-end, these companies will be […]

By Steven Lamb |October 30, 2008

1 min read

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Sprott vows to stay the course

While the market has created a swath of destruction for everyone, it’s been particularly cruel to Eric Sprott, superstar fund manager and CEO of Sprott Inc. On a particularly candid conference call with investors on Thursday, Sprott was adamant that his funds are sticking to the strategies that made him the most consistently successful Canadian […]

By Mark Noble |October 30, 2008

3 min read

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Briefly:

(October 29, 2008) The U.S. Federal Reserve has cut interest rates by 50 basis points, lowering the trend-setting federal funds rate to 1%. The discount rate now stands at 1.25%. “The pace of economic activity appears to have slowed markedly, owing importantly to a decline in consumer expenditures,” the Federal Open Market Committee said in […]

By Staff |October 29, 2008

1 min read

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Cautious clients still contributing to RRSPs

While many clients are worried that their RRSPs will be affected by the market downturn, a new survey shows that most investors aren’t panicked enough to stop contributing to their registered savings account. A poll commissioned by Edward Jones revealed that 66% of Canadians won’t make any changes to their RRSP this year. “We thought […]

By Bryan Borzykowski |October 29, 2008

4 min read

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Assessing the board

The board of directors is the highest governing authority within the management structure at any publicly traded company. The primary responsibility of the board is to protect the shareholders’ assets and to ensure a decent return on their investment. Yet, most investors do not take into account the importance of the board. This lack of […]

By Romana King |October 28, 2008

7 min read

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(October 28, 2008) If anyone was in denial that Canada’s economic fortunes were heading south, a new Scotiabank Commodity Price Index report proves that things north of the 49th aren’t so rosy. The report reveals that the index, which measures price trends in 32 of Canada’s major exports, dropped for the second consecutive month. It […]

By Staff |October 28, 2008

1 min read

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Fidelity calls layoff talk

On the heels of a 20% cut to AIC Limited’s workforce comes speculation of Fidelity Investments’ slashing its global staffing. According to Ignites, a New York-based mutual fund newsletter, Fidelity is preparing to cut as many as 4,000 jobs in two rounds starting this quarter. But according to Chris Pepper, director of media relations for […]

By Romana King |October 28, 2008

2 min read

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Briefly:

( October 27, 2008) Fear of a housing market correction is driving Canadians to hold a larger than usual portion of their wealth in cash and fixed income, as they seek stability in their investments, according to a survey by Manulife Financial. The principal residence remains the most popular investment, but support for that investment […]

By Staff |October 27, 2008

4 min read

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Employers warn of smaller raises

Fiscal restraint due to the current financial crisis is forcing companies to lower planned wage increases, according to the Conference Board of Canada. “Compensation planners are going to be very cautious next year,” said Prem Benimadhu, the board’s vice-president, governance and human resources management, at the 2008 Compensation Outlook Conference in Toronto on Monday. “They […]

By Jody White |October 27, 2008

2 min read

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Contact, consistency key for younger advisors

Younger advisors are fighting for survival right now, and, unlike bear market veterans, they can’t draw on their personal experience to convince clients to stay invested in what is arguably the worst market downturn this generation has ever seen. There are some strategies younger advisors are employing, the most important of which is being consistent […]

By Mark Noble |October 27, 2008

6 min read

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