Industry News

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(April 19, 2007) The Manulife Investor Sentiment Index dropped four points, after an 11-point gain the previous quarter. Last quarter’s results were the largest upswing since the surveys began in 1999, falling just one point shy of its all-time high of +35, reached in mid-2000. “Support for investing in general remains very strong and our […]

By Staff |April 19, 2007

4 min read

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CRA, the paperwork busters?

Eligible businesses with average monthly withholdings less than $3,000 may remit source deductions quarterly instead of monthly, beginning in the 2008 tax year. The net personal income tax threshold for individuals will be increased to $3,000 from $2,000 — individuals earning less than the threshold do not need to pay installments. This change applies to […]

By Kate McCaffery |April 19, 2007

6 min read

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(April 18, 2007) TD Banknorth, the U.S. arm of TD Bank Financial Group, has announced its shareholders have approved its proposed privatization. Upon completion of the transaction, the Maine-based bank will become a wholly owned subsidiary of TDBFG “We’re pleased that TD Banknorth’s minority shareholders voted in favour of this transaction,” said Ed Clark, TD […]

By Staff |April 18, 2007

3 min read

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Foreigners buy Canadian: StatsCan

Foreign investors made an about-face in February, piling back into Canadian securities after a substantial sell-off in January, according to Statistics Canada’s monthly report on securities trading. Non-residents acquired $4.8 billion worth of Canadian securities, with net sales of equities topping $5.1 billion in February. In fact, StatsCan reports that foreign investment in Canadian stocks […]

By Mark Noble |April 18, 2007

2 min read

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Erosion of DB plans overstated: Fidelity

Despite dire warnings in the headlines of the end of defined benefit plans in the U.S., a recent survey by Pyramis Global Advisors, the institutional money management arm of Fidelity Investments, finds rumours of their demise to be a bit premature. Most U.S. plan sponsors say they are committed to keeping their plans open to […]

By Mark Brown |April 18, 2007

3 min read

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Prized veteran team splits for boutique

One of Canada’s biggest names in the advisor industry has pulled up stakes and switched firms, Advisor.ca has learned. Thane Stenner, CIBC Wood Gundy’s top producer in British Columbia, has left the bank and joined GMP Private Client as managing director. Leaving behind the “T. Stenner Group” brand name, Stenner’s entire nine-person team — including […]

April 18, 2007

3 min read

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(April 17, 2007) BCE responded to the intense speculation over its potential takeover Tuesday, admitting that it is in discussions with prospective suitors who might want to privatize the telecom giant. Stating it’s undertaking a strategic review to enhance shareholder value, BCE says that it’s talking takeover with a consortium of pension funds that consists […]

By Staff |April 17, 2007

3 min read

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Advisors, regulators take on youth market

The Canadian Securities Administrators recently launched a contest and a range of interactive web content designed to enhance the personal financial awareness of youth. While there is no indication that the youth of today are going to be any less prepared than their parents were in managing wealth, the financial industry and advisors alike recognize […]

By Mark Noble |April 17, 2007

3 min read

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(April 16, 2007) RBC Asset Management has named the new fund managers who will replace John Varao and Shane Jones, who left the company suddenly last week for positions at Scotia Cassels. Their departure left a large void in the management of some of RBC’s top Canadian equity funds. All of the new managers are […]

By Staff |April 16, 2007

4 min read

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Bank websites have room to improve: Forrester

Three of Canada’s seven largest banks have received failing grades for their websites, which for many consumers, have become their main point of contact with the financial institutions, according to Forrester Research. National Bank of Canada, Desjardins and the Bank of Montreal all failed to meet the minimum standards of the study, while Scotiabank eked […]

By Mark Brown |April 16, 2007

4 min read

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