Industry News

Decorative pattern

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(October 24, 2008) AIC Limited is reportedly cutting 20% of its work force, according to media reports. The vast majority of the job cuts are apparently in the marketing and information technology departments of the company. There have been no announced cuts to any of the portfolio management teams. No reason has been given for […]

By Staff |October 24, 2008

4 min read

Decorative pattern

Ottawa guarantees inter-bank loans

Finance Minister Jim Flaherty has announced the federal government will insure the inter-bank borrowing for federally regulated deposit-takers, making it easier for Canadian banks to access the global credit market. The temporary Canadian Lenders Assurance Facility comes on the heels of similar guarantees extended by foreign governments. “The Government of Canada is acting today to […]

By Steven Lamb |October 23, 2008

2 min read

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(October 23, 2008) The Canadian Life and Health Insurance Association has joined its counterparts from around the world in calling for greater regulatory co-operation, at a meeting of the International Association of Insurance Supervisors (IAIS) in Budapest, Hungary. “Insurance associations around the world wanted to make a clear statement to regulators about the need for […]

By Staff |October 23, 2008

1 min read

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(October 22, 2008) The government of Ontario has slashed its estimates for economic growth, to 0.1% from 1.1% for the year, in its 2008 Ontario Economic Outlook and Fiscal Review, released late Wednesday. “Today’s economic reality is forcing governments around the world to re-examine their expenditures, adjust their assumptions and respond to an environment where […]

By Staff |October 22, 2008

2 min read

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(October 21, 2008) It’s tough for people to move from their home country and start a new life in Canada, but it’s especially difficult when economic fears are plaguing the nation. To help newcomers adjust to life in this country, RBC has created a Welcome to Canada package, full of important financial information and discounts. […]

By Staff |October 21, 2008

1 min read

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(October 20, 2008) The Pan-Canadian Investors Committee for Third-Party Structured ABCP has announced that the proposed restructuring of the ABCP market in Canada will not be completed before the end of October, as previously expected. “The committee, its advisors and I are committed, as we have been throughout, to implement the restructuring at the earliest […]

By Staff |October 20, 2008

1 min read

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Are your clients’ pensions in trouble?

With pension plans losing money thanks to the market downturn, clients are becoming increasingly worried about whether they’ll have money left for retirement. And they have reason to be nervous. The majority of plan members in Canada participate in defined contribution (DC) pension plans. These act like RRSPs, with members contributing money into different funds; […]

By Bryan Borzykowski |October 20, 2008

2 min read

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(October 17, 2008) While Canada may be heading into a recession, with job losses in manufacturing mounting, there is one industry that seems to struggle to fill its ranks: insurance. “The recruiting pyramid has been flipped upside down,” says Donald Givelos, founder of DGA Careers, which specializes in recruiting for the insurance industry. “Years ago, […]

By Staff |October 17, 2008

4 min read

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Charlie Spiring offers tips to survive the bear

He may be CEO of one of the country’s fastest-growing independent investment firms, but Wellington West’s Charlie Spiring was in advisor mode on Wednesday evening as he explained to more than 600 clients and prospects in Toronto how they could weather the bear market. The Winnipeg-based Spiring remains a personal advisor on more than $700 […]

By Mark Noble |October 16, 2008

5 min read

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(October 16, 2008) Advisors might be excited about the new Tax-Free Savings Accounts that come into effect on January 1, but how about your clients? According to a new Investors Group poll, only 46% of Canadians plan to open a TFSA, while 17% of those expect to invest the full $5000 amount. The poll found […]

By Staff |October 16, 2008

1 min read

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