Industry News

Decorative pattern

Deliver value or get out, study warns

Strategic and selective partnerships to fully exploit a firm’s capabilities will be key. “Successful firms will partner to service their clients as specialists, with some choosing to divest parts of their firms as part of a “capability sway.” Across the industry respondents recognized the potential for growth strategies to be complimentary rather than strictly competitive.” […]

By Kate McCaffery |April 21, 2006

4 min read

Decorative pattern

RRIF-related tax boost small

The required conversion of an RRSP into an annuity or RRIF at age 69 results in a small increase in the average income and taxes paid by Canadian seniors, according to a StatsCan report released Friday. Using data from 2001 and 2002, the study found that the RRSP conversion boosted net income by an average […]

By Steven Lamb |April 21, 2006

2 min read

Decorative pattern

Hub teams with Empire to train brokers

There has been growing concern in the insurance industry for the past few years that recruitment levels have fallen short of expectations. With the current cohort of insurance brokers rapidly approaching retirement age, Canadians could soon struggle to find a qualified agent. To address this problem, Hub Financial is teaming up with Empire Life to […]

By Steven Lamb |April 20, 2006

3 min read

Decorative pattern

High interest in high-interest savings accounts

Canadians’ reputation as savers has slipped in recent years, but that hasn’t slowed the competition between financial firms offering high-interest savings accounts, an increasingly popular product for advisors with clients who want a safe and accessible place to park their money, and want some growth to boot. Altamira, ING Direct, Manulife, Dundee Wealth Bank, and […]

By Mark Brown |April 20, 2006

3 min read

Decorative pattern

Building a portfolio one BRIC at a time

No-one would ever consider building an entire investment portfolio around BRIC — Brazil, Russia, India and China — but why risk watering down your returns with fluctuations in other markets when you can focus on the ones that are growing? That’s how Excel Funds Management’s CEO Bhim Asdhir sees it, and so far the strategy […]

By Mark Brown |April 19, 2006

5 min read

Decorative pattern

IDA fines Union Securities $1M

The IDA has announced a settlement agreement with Union Securities and its CEO and chief compliance officer, John P. Thompson, over deficiencies in the firm’s compliance reviews. Thompson was not only the head of compliance, but was listed as the company’s ultimate designated person, a position he has now been barred from holding. The IDA […]

By Steven Lamb |April 18, 2006

4 min read

Decorative pattern

Mallard leaves Assante for Quadrus

Prominent advisor and former Advocis chair Brian Mallard has resigned from Assante and is switching to Quadrus Investment Services. Mallard’s entire branch, Saskatoon-based Brian Mallard & Associates, will join the London, Ont.-based firm — the mutual fund dealer arm of London Life and an affiliate of Great-West Life. Mallard says he is currently in the […]

By Doug Watt |April 18, 2006

2 min read

Decorative pattern

Banking on insurance

(April 2006) My bank has been phoning me a lot lately. And every time they call, panic automatically sets in: Have I been the victim of identity theft? But as it turns out, they’re always just thrilled to offer me “an extraordinary new service only available to select accounts.” You can imagine how privileged I […]

By Deanne Gage |April 17, 2006

3 min read

Decorative pattern

Briefly:

(April 21, 2006) The C.D. Howe Institute is projecting the Bank of Canada will increase its key overnight lending rate 25 basis points to 4% at its next meeting on Tuesday, April 25. While there was clear consensus for a rate hike amongst the 11 economists and academics who sit on the institute’s monetary policy […]

By Staff |April 17, 2006

12 min read

Decorative pattern

Fund industry sales reached $3.6 billion in March

Long term mutual fund sales continued to move along at a healthy pace in March, with IFIC reporting $3.6 million in net new sales for the month. Despite the allure presented by resource funds in Canada, investors continued to gravitate towards balanced, income-producing investments and finally began to buy into the global investing story being […]

By Kate McCaffery |April 17, 2006

3 min read

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