Industry News

Decorative pattern

Sun Life possibly selling — and buying

A financial services clearance sale may be underway, possibly culminating in a radically-altered landscape for the American operations of Toronto-based Sun Life of Canada. Massachusetts Financial Services Company, generally known as MFS Investment Management, is rumoured to be for sale. Sun Life will only say that it has hired investment bankers to “advise on strategic […]

By Al Emid |October 18, 2006

3 min read

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Briefly:

(October 17, 2006) The Bank of Canada kept its key overnight lending rate at 4.25%, citing weaker-than-expected economic growth in the latter half of the year. “Although global economic growth is expected to be a little higher than previously anticipated, a weaker short-term outlook for the U.S. economy has curbed the near-term prospects for Canadian […]

By Staff |October 17, 2006

3 min read

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FPSC reports disciplinary actions

The Financial Planners Standards Council has released a list of disciplinary actions taken against financial planners in the first six months of 2006, in a move designed to ensure the integrity of the CFP designation. “The public disclosure of disciplinary actions taken against individuals among our 17,000-strong CFP professional community is a natural progression for […]

By Steven Lamb |October 17, 2006

2 min read

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Canada’s evolving mortgage market

Remember the days when “no-money-down” was used only to entice people to buy a new couch? Brace yourself: these deals are now entering the real estate arena. With the slew of innovations coming to the mortgage market, Canadians are now able to take on more debt then ever before. And while the risks of missing […]

By Mark Brown |October 17, 2006

5 min read

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(October 16, 2006) Macquarie Group, a specialist financial and investment banking services provider, announced Monday that it has successfully integrated the Cervus Financial Corp. platform into the company and changed the Cervus name to Macquarie Financial Ltd. As part of the brand’s integration into Canada, the company plans to introduce new products and promote the […]

By Staff |October 16, 2006

4 min read

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Money market sales dominate: IFIC

Mutual funds sales crept higher in September, marking an uptick in a month that often sees a downturn, according to the latest statistics gathered by IFIC. Net new sales totalled $1.1 billion, up from $744 million in August, but were still significantly lower than the $1.8 billion in new cash invested in September 2005. Net […]

By Steven Lamb |October 16, 2006

3 min read

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(October 13, 2006) The Canadian economy will grow 2.7% next year, compared to 2.5% south of the border, according to RBC economics. Canada has done fairly well over the past few years, RBC notes, despite an appreciating dollar and rising energy prices. “Growth in 2006 is expected to be only slightly slower, as consumer and […]

By Staff |October 13, 2006

3 min read

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Cheap dollar drags on investment: report

Contrary to popular opinion, the current high value of the Canadian dollar is beneficial to the economy, with weak currency holding back investment and productivity, according to a report by the Conference Board of Canada. “Policies that weaken the exchange rate have important — perhaps unintended — consequences for industry investment, productivity and economic growth,” […]

By Steven Lamb |October 13, 2006

2 min read

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(October 12, 2006) Canadian investor sentiment recorded its first decrease in two years as real estate and registered savings plans showed softness, according to a national poll conducted for Manulife Financial. The survey suggests that investors are still confident, but becoming less so as cracks start to show around real estate markets, particularly in the […]

By Staff |October 12, 2006

3 min read

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5th Annual Dollars and Sense: Advisors swamped by paperwork

If you feel like you’re being deluged with paperwork and administrative duties, you’re not alone. It’s cold comfort to be sure, but 25% of your colleagues cited this as their greatest day-to-day challenge in the ADVISOR Group’s fifth annual Dollars & Sense Survey, placing it at the top of the list. Last year, administrative tasks […]

By Steven Lamb |October 12, 2006

3 min read

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