Industry News

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strong stewards of the environment; devoted to serving local communities and society overall; committed to high labour standards for their own employees and those in their supply chain; dedicated to producing high-quality and safe products; and managing their company in an exemplary and ethical manner. The top 75% of the market capitalization of each sector […]

By Staff |October 1, 2007

3 min read

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Efficiency key to bigger book size: Study

Advisors who worry an idle minute results in less business might be right, according to new research sponsored by Univeris. The research, conducted by Advisor Impact, surveyed 1,000 Canadian advisors in June 2007 and found a direct correlation between advisors making the most of every minute and the size of their assets under management. “When […]

By Mark Noble |October 1, 2007

3 min read

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Manulife adds lifetime guarantee to IncomePlus

(October 2007) Manulife has upped the ante on its competitors in the guaranteed minimum withdrawal benefit market. The insurer has added a lifetime guarantee on the withdrawals of its IncomePlus product line. In October 2006, Manulife launched IncomePlus, the country’s first GMWB product, which is an add-on feature that can be purchased with a segregated […]

By Mark Noble |October 1, 2007

3 min read

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(September 28, 2007) Two Canadian banks are making it easier for self-directed investors to make trades. BMO and RBC are lowering their commission rates for BMO InvestorLine and RBC Direct Investing, respectively. Investors can now trade at a $9.95 flat rate. For the BMO plan, only clients with more than $100,000 of assets under their […]

By Staff |September 28, 2007

4 min read

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Dealers need to think fee-based

Broker-dealers that do not support a fee-based advisor model should think twice about the offering, as it will prove to be the future of financial services, says outspoken fee-based planner John Nicola. “When we take a look at the price for advice, here’s what I’m going to suggest: in the future, if you have more […]

By Steven Lamb |September 28, 2007

3 min read

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(September 27, 2007) Mackenzie Financial and the Bank of Montreal launched two new protected deposit notes on Thursday. The MSP ArMADA Protected Deposit Notes, Series 7 and 8, give investors 100% principal protection at maturity, and 100% protection of investment gains up to a target date six months prior to maturity. The value of the […]

By Staff |September 27, 2007

4 min read

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Fee-based advising victim of success: U.S. study

U.S. fee-based advisors will face challenges as more set up shop and larger competitors find ways to emulate their success, according to a study by Moss Adams. While only 14% of U.S. advisors surveyed are registered independent advisors (RIAs), their numbers have increased by more than 30% over the past five years. And it’s expected […]

By Mark Noble |September 27, 2007

4 min read

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Advisors will evolve beyond mutual funds

Some industry observers believe many advisors are too reliant on mutual funds but expect that to change as clients needs evolve. It’s already changed among high-end advisors. High-level and top producers are the ones who are most likely to be lobbying for the ability to sell insurance and securities outside of the mutual fund arena. […]

By Kate McCaffery |September 27, 2007

5 min read

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Portus founders charged with fraud

After a 27-month investigation, charges have finally been laid against the co-founders of Portus Alternative Asset Management, Boaz Manor and Michael Mendelson. Each has been charged with 12 counts of fraud over $5,000, money laundering and possession of property obtained by crime. Manor has been charged with one extra count of fraud of $5,000, two […]

By Bryan Borzykowski |September 26, 2007

2 min read

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(September 26, 2007) The head of the Canadian Bankers Association challenged Finance Minister Jim Flaherty to take immediate action in establishing a single securities regulator on Wednesday. “We’ve had enough panels,” stated Nancy Hughes Anthony, chief executive officer for the CBA during an Economic Club of Toronto speech to Bay Street’s elite. “We’ve had a […]

By Staff |September 26, 2007

5 min read

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