Industry News

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Financial firms unprepared for boomers’ retirement

Despite the impending retirement of the baby boom generation, most financial services firms have no specific marketing plan in place to address this massively wealthy group, according to a new study by an international management consulting firm. “Our research indicates that nearly two out of three firms have not yet developed a comprehensive marketing and […]

By Steven Lamb |January 13, 2006

2 min read

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Dealers to reimburse Portus referral fees

Clients who invested in Portus Alternative Asset Management are going to be reimbursed about $12 million in referral fees by mutual fund and investment dealers who participated in the offering, excluding fees that have already been recovered. The agreement was announced on Friday by the Ontario Securities Commission, with the cooperation of the IDA and […]

By Mark Brown |January 13, 2006

4 min read

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TD bets on large caps in 2006

Large cap companies are expected to squeeze out small caps in 2006, but look for a mid-cycle correction, says TD Bank in its annual investment outlook. According to the bank, corporate earnings and equity returns are both expected to be in the mid-single digits in North America in 2006. Under these conditions, the bank foresees […]

By Mark Brown |January 12, 2006

2 min read

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Federal income trust

The federal government’s decision to increase dividend tax credits to level the playing field with income trusts has done very little toward attaining that goal, according to one of Canada’s leading taxation experts. While the changes may have brought taxation neutrality between trust distributions and corporate dividends for taxable accounts, such investors make up the […]

By Steven Lamb |January 12, 2006

4 min read

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Industrial Alliance buys back shares as Clarington offer expires

Since extending its purchase offer in December, Industrial Alliance Insurance and Financial Services (IA) has acquired 444,250 more outstanding common shares of Clarington Corporation. IA now owns more than 14.5 million shares, which represents a little more than 98% of Clarington’s issued and outstanding shares. The Industrial Alliance offer to purchase outstanding Clarington shares expired […]

By Kate McCaffery |January 11, 2006

3 min read

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Advice for the rest of us

(January, 2006) Over the years, the advice industry has moved upmarket. I remember a time when all you needed was $25,000 in investable assets to get started with a reputable advisor. Now, many advisors (especially at brokerage houses) have account minimums. The lowest figure I’ve personally heard is somewhere in the neighbourhood of $150,000. One […]

By Deanne Gage |January 11, 2006

3 min read

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Advocacy group calls for stricter regulation

A coalition group of seniors and small investors is calling on Canada’s political parties to promise tougher enforcement, including prison sentences against financial advisors found to have defrauded clients. In an open letter, Concerned Canadian Seniors and Investors (CCSI) says: “The public is being misled by claims that the industry is well-regulated and that investor […]

By Steven Lamb |January 10, 2006

2 min read

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Independent fund dealers’ group steps out of the shadows

The new executive director of the Federation of Independent Mutual Fund Dealers (FIMFD) wants to boost the trade association’s profile and membership base in 2006. Consultant Sandra Kegie was appointed to the job in July after spending eight years as a compliance officer at various fund dealerships. She is also the founding chair of the […]

By Doug Watt |January 10, 2006

3 min read

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Briefly:

(January 13, 2006) RBC Financial Group has added two new deposit notes to the company’s product lineup. Designed for risk-adverse investors seeking an alternative to GICs and greater portfolio diversity, the RBC IA Leon Frazer Yield Deposit Notes, Series 3 and 4 invest in a portfolio of Canadian equities, income trusts and bonds. The equity […]

By Staff |January 9, 2006

12 min read

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Mercer’s 2006 forecast strong, but not stellar

The combined wisdom of investment managers from 157 firms worldwide, suggests that global equity performance will be positive in 2006, but will almost certainly lag 2005 returns. In the 15th annual “fearless forecast” produced by Mercer Investment Consulting, money managers say they expect equity performance in 2006 will trail last year’s double digit returns for […]

By Kate McCaffery |January 9, 2006

3 min read

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