Industry News

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McMillan appointed Advocis chair

Roger McMillan has been elected as the new chair of Advocis, replacing Gary McLeod. The appointment was confirmed at the advisor association’s annual general meeting in Victoria last week, described by Advocis president Steve Howard as “relatively straightforward” compared to past AGMs. McMillan, an Advocis member since 1972, runs Toronto-based McMillan Financial, which specializes in […]

By Doug Watt |June 19, 2006

2 min read

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(June 19, 2006) Non-residents invested $3.9 billion (net) in Canadian securities during the month of April, trailing Canadian acquisitions of $4.7 billion of foreign bonds and equities. According to Statistics Canada, Canadian equities were the hot investment choice for non-residents in April, with foreign investors buying up $6.5 billion during the month, the highest purchase […]

By Staff |June 19, 2006

2 min read

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Creative tax strategies for clients with corporations

Clients with their own corporations face tax challenges in numerous areas. But there are innovative solutions for a couple of common scenarios, according to tax expert Tim Cestnick of the Waterstreet Group, who spoke Thursday at the Advocis annual conference in Victoria. One frequent issue involves clients who want to borrow from their own corporation. […]

By Doug Watt |June 19, 2006

2 min read

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Portus investors to get back more than expected

“Chalk it up to tuition at the school of experience.” That’s the way one Portus investor feels upon hearing news that she might get back up to 85.8% of her investment in the defunct hedge fund. On Sunday, KPMG released its latest preliminary report on the bankruptcy of Portus Alternative Asset Management, which paints the […]

By Mark Brown |June 19, 2006

4 min read

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(June 16, 2006) On Monday, plan to sit back in relax. According to the Fraser Institute you’ve paid your dues to the government for 2006 and are you working for yourself. And it’s not even summer. Tax Freedom Day is June 19 this year, which is five days earlier than in 2005. The latest Tax […]

By Staff |June 16, 2006

4 min read

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IDA calls first quarter

The Canadian securities industry posted an “absolutely awesome” first quarter of 2006, with operating profits soaring 30% from the previous quarter, to a record $1.6 billion, according to the IDA’s quarterly Securities Industry Performance report. On a year over year basis, profit growth was even better, up 42% from the first quarter of 2005. Operating […]

By Steven Lamb |June 16, 2006

2 min read

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Stepping up to the HNW plate

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 Heidi Staseson |June 16, 2006

4 min read

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Advocis to ramp up regulatory education

Advisors often wait until it’s too late to express concern about new regulations in the financial services industry. Advocis is attempting to rectify that by adding a section on emerging regulatory issues to its best practices manual. The ERI will help advisors incorporate standards into their practice without having to wait until new regulations or […]

By Doug Watt |June 16, 2006

2 min read

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Feds call for greater transparency, efficiency

The federal minister of finance is calling a more investor-friendly financial services industry, with increased legislative and regulatory efficiency and a more adaptable framework. “The proposed recommendations will go a long way towards eliminating red tape, improving disclosure to consumers and fostering a strong and dynamic financial sector,” said Jim Flaherty, Minister of Finance. “Proposals […]

By Steven Lamb |June 15, 2006

2 min read

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(June 15, 2006) Companies in developed markets are more likely to suffer from fraud at home than they are in emerging markets, despite the perception that emerging markets are riskier, says new report by Ernst & Young. Of the close to 600 executives surveyed by the professional services firm, 75% say they have experienced significant […]

By Staff |June 15, 2006

4 min read

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