Industry News

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(September 17, 2007) Canadians eased off foreign acquisitions in July but still bought $3.6 billion worth of foreign securities, according to StatsCan. That’s down from a record of $13.1 billion in April. Equity investments were the vehicle of choice, accounting for two-thirds of the total. With the Canadian dollar hovering around 94 cents U.S. in […]

By Staff |September 17, 2007

3 min read

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August fund sales tank: IFIC

Very few specific fund companies had much to cheer about. In fact, only a handful managed to avoid the net redemption trend. Scotia Securities managed to distinguish itself from the rest of the field, as money market redemptions couldn’t undo long-term fund sales of $144 million. The bank-owned manufacturer was able to finish the month […]

By Mark Noble |September 17, 2007

3 min read

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(September 14, 2007) Worries over the sub-prime mortgage market are weighing heavily on American consumers, driving confidence to a 16-month low, according to RBC’s monthly Consumer Attitudes and Spending by Household (CASH) Index. Stock market volatility and a softer job market aren’t helping matters, as the index reading fell 18 points to 71.1 in September. […]

By Staff |September 14, 2007

2 min read

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Younger and wealthy hard to land: study

U.S. investment firms are having difficulty meeting the demand of their young and affluent clients, a study conducted by Forrester Research concludes. As part of a study entitled Consumers Don’t Enjoy Financial Services, Forrester surveyed more than 5,000 American consumers during the final quarter of 2006, asking them about the consumer experience for a range […]

By Mark Noble |September 14, 2007

4 min read

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(September 13, 2007) The IDA has handed a massive $100,000 fine to Vance Elder for misconduct while he was an approved person at two Calgary branches of BMO Nesbitt Burns. Elder was found guilty in February of allowing his assistant to sign client signatures. The forgeries were committed between 1996 and 2001. The IDA hearing […]

By Staff |September 13, 2007

3 min read

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CFA holders becoming commonplace

Demand for the Chartered Financial Analyst designation is booming and, as a result, industry observers say the CFA is fast becoming a prerequisite for investment management rather than the gold standard. Earning a CFA is no longer an express ticket to an executive office and six-figure paycheque. These were the findings of a panel of […]

By Mark Noble |September 13, 2007

3 min read

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Canadian MDs worried about retirement plan: Survey

Many of Canada’s doctors admit their financial health is not being taken care of and they feel unprepared for retirement, a survey conducted by The Medical Post finds. Of the 642 medical doctors who responded to The Medical Post‘s online survey, 73% say they use the services of some sort of financial advisor, but only […]

By Mark Noble |September 13, 2007

3 min read

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(September 12, 2007) Owning a home isn’t getting any cheaper in most markets across Canada, according to a report from RBC Economics. “In the second quarter, Canada’s housing affordability experienced one of the largest and most broadly based quarterly deteriorations since the mid-1990s,” said Derek Holt, assistant chief economist at RBC. “Higher house prices, mortgage […]

By Staff |September 12, 2007

3 min read

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Marriage or the single life: Which is more taxing?

At one time, tying the knot was a given for many Canadians, but it’s a different story today. According to new Statistics Canada census data, there are more unmarried people than married people in the country for the first time ever. The newly released census data says that 51.5% of Canadians aged 15 and over […]

By Bryan Borzykowski |September 12, 2007

3 min read

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Insurers place bets on wealth management

Canada’s largest insurers are happy to sell insurance through independent advisors, but what they really want is to help those advisors manage their client’s assets. Executives from Canada’s largest insurers presenting at the Scotia Capital Financials Summit Conference in Toronto emphasized that wealth management, not insurance, has become their most important income stream. “In the […]

By Mark Noble |September 12, 2007

3 min read

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