Industry News

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The West versus the rest on regulation

With just eight months on the job, the new head of the Alberta Securities Commission (ASC) isn’t ready to be pinned down on whether he thinks it’s time to pursue a national regulator. But without tipping his hand, Bill Rice seems to favour limited reforms like the passport system over the more ambitious uniform securities […]

By Mark Brown |February 22, 2006

2 min read

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A few cents on the dollar for Norshield investors

The 1,900 Canadian retail investors who put $130 million into Olympus Funds aren’t likely to see more than six to eight cents on the dollar, Norshield Group’s receiver, RSM Richter told an investor meeting on Tuesday. At worst, they will see three to five cents on the dollar, and that only after two to three […]

By Scot Blythe |February 22, 2006

6 min read

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Doug Macdonald named Career Achievement Award winner

Advisor’s Edge and Advisor.ca have named Doug Macdonald, managing director and president of Vancouver-based Macdonald, Shymko & Company (MSC), as this year’s recipient of their Career Achievement Award. The Career Achievement Award recognizes individuals who raised the professional standards of financial advice giving, reflected the best interests of consumers seeking financial advice and demonstrated leadership […]

By Deanne Gage |February 21, 2006

2 min read

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Clarington severs ties with Seamark

ClaringtonFunds has dismissed Seamark Asset Management as the manager of several funds, replacing the firm with three different managers, most notably Clarington’s new corporate cousin, Industrial Alliance Investment Management. Howson Tattersall will take over the management of Clarington’s Canadian Balanced fund, while OppenheimerFunds will oversee the Global Income fund. Industrial Alliance will manage Clarington’s Canadian […]

By Steven Lamb |February 21, 2006

2 min read

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Briefly:

(February 24, 2006) Saxon Mutual Funds has announced it will introduce F class units for most of its fund mandates to address the firm’s “rapidly growing” presence among fee-based advisors. The F class units are expected to be available for sale to advisors in June. Saxon funds are available through advisors, although the firm may […]

By Staff |February 20, 2006

11 min read

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Economic growth to remain unbalanced

Rising commodity prices will continue to drive growth in most provinces, while traditional manufacturing economies are expected to languish, according to the Conference Board of Canada’s latest quarterly Provincial Outlook report. “Not all provinces are being lifted by the rising tide of high commodity prices,” says provincial outlook associate director, Marie-Christine Bernard. “Surging global demand […]

By Steven Lamb |February 20, 2006

2 min read

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Tax tips for students

Trying to help students out during tax time is not the most productive use of time from a practice profitability point of view, but the effort spent serving your client’s children can pay dividends down the road. H&R Block Canada released a sheet of tax tips for students this morning, listing different facts and strategies […]

By Kate McCaffery |February 20, 2006

3 min read

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Good times may not last, S&P warns

While Canada looks like it’s in for another strong year, Standard & Poor’s is warning that the conditions that led to the rapid growth in 2005 are starting to fray. In other words, 2006 may be fine but 2007 is another story. On the one hand, unanticipated inflation increases due to higher commodity prices and […]

By Mark Brown |February 17, 2006

2 min read

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Top financial players set up family offices

Two veterans of the financial services industry have each set up separate boutiques or “multiple family offices” catering to high-net-worth individuals in the Ontario region. Michael Nairne recently left his position as managing director of Loring Ward International to launch Tacita Capital, while Tim Cestnick — who left AIC last year — has a new […]

By Heidi Staseson |February 17, 2006

4 min read

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Mortgages and RRSP alternatives

RRSP season brings out the best and the worst in clients. Many have old questions — wondering if they should top up their RRSP or instead put the money towards their mortgage, save for a down payment on a house or pay more to their children’s education funds. In the current interest rate environment, others […]

By Kate McCaffery |February 16, 2006

5 min read

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