Industry News

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Receiver finds nearly $600,000 intended for Portus

Fifty-six investors who had planned to invest in Portus will get their money back after receiver KPMG revealed that their cheques and bank drafts, totalling $594,244, were dated after regulators issued an order preventing the failed hedge fund from accepting new clients. In its latest report released last Friday, KPMG said it is seeking a […]

By Doug Watt |April 17, 2006

3 min read

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Faith and finances

It’s often suggested that sex, politics and religion should never be discussed at the dinner table, but at least one of these topics shouldn’t be considered blasphemous when advisors talk with clients. Faith-based investing and financial planning is an emerging space. Since 1999, Dow Jones has been running Islamic equity indices. There are now over […]

By Mark Brown |April 13, 2006

4 min read

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Rich and restless

Advisors catering to the wealthy are facing a challenge — one that represents an opportunity to those looking to break into the affluent market: The wealthy are restless. That was the key message from Keith Sjogren, director of strategy consulting at Investor Economics, speaking this week at the Strategy Institute’s tenth annual conference on Marketing […]

By Steven Lamb |April 13, 2006

3 min read

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Flaherty promises to cut taxes, reform regulation

It may be tough to accomplish with a minority government, but the new finance minister has assured the financial industry that he will stick to the Conservative Party’s promise to cut taxes while maintaining a balanced budget and paying down debt. Speaking to the Investment Dealers Association in Toronto on Tuesday night, Jim Flaherty also […]

By Steven Lamb |April 12, 2006

2 min read

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Spring – time to get back into financial shape

Spring is a great motivator for getting into shape. This same principle can be applied by your clients to their finances. Often, the first step on the road to financial health is taking control of debt. For more great content from Fidelity, please visit our Advisor Center exclusively on Advisor.ca Over the last decade, Canada […]

By Staff |April 12, 2006

1 min read

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Canadians’ financial literacy lacking, study suggests

The assumption that most Canadians can make important financial decisions without help is likely false, a government-sponsored study suggests. Although there’s been relatively little research done on the topic, a recently-released report indicates that there are low levels of financial knowledge in Canada and other developed countries. The study, called “Why Financial Capability Matters,” a […]

By Doug Watt |April 12, 2006

3 min read

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CI board rubber stamps trust conversion

CI Financial’s board of directors has approved a plan to begin the process of converting the mutual fund company into an income trust. “Management of CI and its Board of Directors believe that an income trust structure would benefit both CI and its shareholders,” the company said today in a statement accompanying its latest quarterly […]

By Doug Watt |April 11, 2006

2 min read

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Supreme Court hears landmark insurance case

Canada’s big banks were at the Supreme Court of Canada on Tuesday, taking on Alberta over the sale of creditor insurance in bank branches. The Alberta Insurance Council took action against the banks for selling creditor insurance in branches without a licence. The Alberta Court of Appeal ruled that the province has the jurisdiction to […]

By Doug Watt |April 11, 2006

3 min read

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Briefly:

(April 13, 2006) Mackenzie Financial is launching new versions and purchase options on a number of existing mutual funds, beginning May 1, 2006. The company is expanding its T-Series option, currently available on 12 of the company’s balanced funds, to include the Mackenzie Maxxum Dividend Fund and Mackenzie Cundill Value Fund. T-Series shares provide a […]

By Staff |April 10, 2006

11 min read

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Some tax changes overlooked

In the current political environment, most parties have realized that nothing goes further with voters than tax-cuts. Of course, to get the most bang for their political buck, politicians usually trumpet the most wide-ranging changes to the tax code — those tax cuts that benefit the greatest number of voters. Items like increasing the Basic […]

By Staff |April 10, 2006

2 min read

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