Industry News

Most companies miss annual forecasts: KPMG

For most companies, creating a yearly forecast is as integral to its business as selling its product. But what if that forecast is consistently wrong? A new KPMG study reveals that most organizations are missing their forecasts, and it’s causing share prices to tumble. The survey, entitled Forecasting with Confidence, reports that only 22% of […]

By Bryan Borzykowski |November 21, 2007

2 min read

Industry

Advisor Group Dealer conference, 2007

Coverage of the annual Advisor Group Dealer Conference, held in Collingwood, Ontario this year, is now available in the November 2007 issue of Advisor’s Edge Report. To get started, check out this special report, including links to coverage from Advisor.ca and new conference video coverage from Advisor.TV. Advisors will evolve beyond mutual funds Some industry […]

By Kate McCaffery |November 20, 2007

2 min read

Industry

Briefly:

(November 20, 2007) Jovian Capital Corp. has announced the appointment of David Bird as president and CEO of subsidiary MGI Securities Inc., succeeding Lewis Reford. “MGI has recently completed a lengthy review of its operations, the result of which has been a shift in strategic thinking and focus,” said John Stevens, chairman of the board […]

By Staff |November 20, 2007

2 min read

Industry

Is your mutual fund an overpriced long/short hedge fund?

Many investors view hedge funds as overpriced and risky playground for wealthy investors who refuse to settle for “plain vanilla” mutual funds. But hedge funds may actually be a cheaper and less volatile alternative to most equity mutual funds, according to one alternative investment expert. Speaking at Arrow Hedge Partners’ Educational Hedge Fund Summit in […]

By Mark Noble |November 20, 2007

3 min read

Briefly:

(November 19, 2007) The Alberta Securities Commission has slapped a cease trade order on a B.C. man which will not expire until October 17, 2026. Douglas Arnold Clarke of Nanaimo, B.C. is also barred from acting as a director or officer of any issuer in Alberta. There is one exception to the ban: Clarke may […]

By Staff |November 19, 2007

2 min read

Equity issuance robust in Q2, but continued strength in doubt

With so much depressing news coming from the financial industry these days, it’s sometimes easy to forget that the equity markets were on solid ground in the first half of the year. The Investment Industry Association of Canada’s Q2 2007 New Issues & Trading Equity Report, should remind people just how good things were before […]

4 min read

Portus cofounder pleads guilty

Michael Mendelson, co-founder of failed Portus Alternative Asset Management Inc., has pleaded guilty to fraud in a Toronto court. Mendelson was in court for a bail hearing yesterday, but his lawyers used the opportunity to announce a plea bargain. Mendelson received a two year sentence, in exchange for his agreement to co-operate with law enforcement, […]

By Staff |November 19, 2007

1 min read

Briefly:

(November 16, 2007) When it comes to financial planning for new immigrants, family comes first, according to a study by RBC. Funding their children’s education was a major financial goal for 46% of new immigrants. Saving for retirement and paying down their mortgage were not far behind, at 41% and 40% respectively. The most common […]

By Staff |November 16, 2007

3 min read

Insurance industry not immune to setbacks

With all the stock market volatility, sub-prime problems and credit tightening issues that have been in the news lately, it might seem as if the whole financial industry is in turmoil. But the insurance industry has remained relatively unscathed through all of this, though that doesn’t mean it’s immune to a meltdown, according to the […]

3 min read