Industry News

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(June 27, 2006) A quarterly poll of investment managers by Russell Investment Group found that support for Canadian equities has deteriorated to 15%, the lowest percentage this quarter for any equity class, including emerging markets. According to the survey the utilities sector is the only sector that managers are somewhat upbeat about. “Canadian investment managers […]

By Staff |June 27, 2006

6 min read

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Conference collection: Catching up on what you missed

May and June were busy months in the financial services industry, with a number of major advisor conferences grouped together in a short period of time. As a result, you may have been unable to attend all the events you wanted to. Don’t worry though, from Advocis to the IDA, Advisor.ca and Advisor’s Edge were […]

By Staff |June 26, 2006

2 min read

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IDA trade association unveils new name

MGAs put tech on the front burner Insurance advisors want more from their MGAs Retirement boom fuels new investment strategies It’s the stories that sell CI More Conference Collection: It’s the stories that sell CI Retirement boom fuels new investment strategies Insurance advisors want more from their MGAs MGAs put tech on the front burner […]

By Kate McCaffery |June 26, 2006

4 min read

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(June 26, 2006) Great-West Lifeco has announced the purchase of several full service-bundled, small and midsize 401(k) plans from MetLife, by its U.S. subsidiary Great-West Life & Annuity Insurance Co. The transaction also includes some defined benefit plan business. “This acquisition advances our strategy to position Great-West Life & Annuity as a top provider of […]

By Staff |June 26, 2006

2 min read

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Businesses brace for GST cut

Do you have a client leasing a car, looking for a new home, or buying a cup of coffee? Then you know someone who will be impacted by the GST cut that comes into effect this Saturday. Just don’t be fooled into thinking that the cut will impact each of those purchases in the same […]

By Mark Brown |June 26, 2006

3 min read

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(June 23, 2006)The national net worth of Canada continued to climb through the first quarter of 2006, hitting a total of $4.6 trillion, according to StatsCan. The average Canadian is now worth $141,000, thanks to soaring real estate values. Net worth benefited not only from increasing non-financial asset values, but also from decreasing foreign indebtedness. […]

By Staff |June 23, 2006

3 min read

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Are advisors being blamed unfairly in Portus fiasco?

Investors weren’t the only ones looking for answers at first meeting of creditors of Portus Alternative Asset Management. Advisors, many themselves investors, feel hung-out to dry in the whole affair. For many, the meeting on Wednesday was their first opportunity to get some information, but many left frustrated by the lack of answers receiver KPMG […]

By Mark Brown |June 23, 2006

5 min read

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(June 22, 2006) RBC Financial Group says Canada’s economic growth will accelerate to 3.3% in 2006, up from 2.9% in 2005, before pulling back to that same rate in 2007. RBC also expects growth in Canada to outperform the U.S., thanks to rising business investment, and despite inflation concerns, tight labour markets and higher interest […]

By Staff |June 22, 2006

3 min read

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Hands off CPP, says C.D. Howe

Ottawa should protect the integrity of the Canada Pension Plan, ensuring that is used only to pay benefits to plan participants, the C.D. Howe institute says in a new study. The report comes on the heels of a suggestion that the federal government consider using some of its budgetary surplus to boost the CPP fund […]

By Doug Watt |June 22, 2006

2 min read

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CI shareholders approve trust conversion

Shareholders of CI Financial have overwhelmingly approved the proposal to convert the company from its existing corporate structure to that of an income trust. The result of the vote, held at a special meeting in Toronto on Thursday, was 99.8% in favour of the move. “I’d call it a pretty good result,” joked Stephen MacPhail, […]

By Staff |June 22, 2006

2 min read

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