Industry News

Decorative pattern

Fund flows cap strong first quarter

Mutual fund flows slowed to a more sustainable pace in March, as net new sales totalled $4.6 billion, down from the $7.7 billion pop in February. So far this year, investors have poured $16.4 billion in new money into mutual funds, making it the best-selling first quarter since 1998, in terms of absolute dollar value. […]

By Steven Lamb |April 16, 2007

3 min read

Decorative pattern

Briefly:

(April 13, 2007) BDO Dunwoody LLP and Grant Thornton LLP, two national accounting advisory firms, issued a release on Friday stating they are officially considering a merger. The two firms say over the next several months, representatives from both organizations will assess the merits of a combined organization. The discussions will include BDO, Grant Thornton […]

By Staff |April 13, 2007

4 min read

Decorative pattern

Registration nation

The industry isn’t of one mind about National Instrument 31-103, the CSA’s outline for a path to registration reform and harmonization of rules and requirements that must be followed by nearly all players in the securities industry. Take performance reporting on accounts of individual clients, suggests Larry Boyce, vice-president of sales compliance and regulation at […]

By Philip Porado |April 13, 2007

4 min read

Decorative pattern

Briefly:

(April 12, 2007) Canada’s economy showed strong resilience in 2006 by adapting to a number of changes that would traditionally hobble a national economy, according to a new report from Statistics Canada. The most drastic change was the labour migration to oil-rich Alberta. Alberta received a net inflow of 57,105 people from other provinces, the […]

By Staff |April 12, 2007

2 min read

Decorative pattern

Rethinking renewable energy

The renewable energy resources sector is rapidly growing, thanks to more consumers and companies turning their attention to green matters. With that in mind, it may be worthwhile to consider adding renewable energy exposure to client portfolios, says Shechar Dworski, an investment analyst with Mackenzie Financial. “One reason people are paying attention to alternative energy […]

By Bryan Borzykowski |April 12, 2007

3 min read

Decorative pattern

Scotia poaches marquee names from RBC

Scotiabank has been signalling its desire to beef up its wealth management division for months now and on Thursday, they let the world know just how serious they were, scooping three veteran fund managers from RBC Asset Management. Moving to Scotia are John Varao and Shane Jones, who were managing two of RBC’s largest offerings, […]

By Mark Noble and Mark Brown |April 12, 2007

3 min read

Decorative pattern

Briefly:

(April 11, 2007) Pension funding in Canada is at a five year high, according to analysis by global consulting firm, Watson Wyatt Worldwide. A combination of rising stock markets and modest bond yield increases are largely responsible for the improvement. The typical pension funded ratio, the ratio of plan assets to plan liabilities, has increased […]

By Staff |April 11, 2007

3 min read

Decorative pattern

Keeping clean credit

April is the beginning of real estate season — and clients shopping for new mortgages. But for every approved mortgage come a few that are rejected because of questionable credit histories. The problem is most clients don’t realize there is anything wrong with their credit until they experience a rejected mortgage or loan application, explains […]

By Mark Noble |April 11, 2007

3 min read

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Briefly:

(April 10, 2007) Western Canadian cities will continue to have the highest levels of economic growth but the Conference Board of Canada says they are not expected to grow as fast in 2007 as they have in the past. Mario Lefebvre, director of the Conference Board’s metropolitan outlook service, says Calgary and Edmonton will lead […]

By Staff |April 10, 2007

3 min read

Decorative pattern

Income trusts could take another hit

Just when you thought things couldn’t get worse for the income trust sector, here comes an American initiative to increase taxes on Canadian income trust dividends. The U.S. House of Representatives Committee on Ways and Means introduced a bill recently that would force investors to pay the personal income tax rate of 35% on income […]

By Bryan Borzykowski |April 10, 2007

2 min read

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