Industry News

Decorative pattern

October maintains bad reputation

(November 2, 2005) The recent downturn in energy prices was enough to knock resource and income trust-based funds out of the top performance slots in October, according to the latest data from Morningstar Canada. In fact, the drop from $66 to $59 a barrel sent energy based funds to the very bottom of the charts. […]

By Steven Lamb |November 2, 2005

2 min read

Decorative pattern

Avoiding estate planning traps

Advisors can steer clear of estate planning pitfalls by using the will drafting process to avoid a collision of competing objectives between beneficiaries of the testator (the individual whose estate will be divided after decease). For the advisor, this means working with the client-testator to anticipate and prevent potential problems that could occur after death, […]

By Art Melo |November 2, 2005

3 min read

Decorative pattern

Stock slump slows fund sales

Mutual fund sales are expected to come in at around $750 million in October, according to IFIC’s preliminary estimates, down from $1.8 billion the previous month. Based on a sample of data from some members, net new sales for October are expected to be in the range of $550 million to $950 million, IFIC says. […]

By Doug Watt |November 2, 2005

1 min read

Decorative pattern

OSC starts limited market dealer sweep

If you’re a limited market dealer (LMD) that’s a bit weak on the compliance side, it’s time to hustle, Laurie Clark, a partner at Borden Ladner Gervais, told a recent Strategy Institute conference in Toronto. For a long time, she noted, the OSC largely ignored LMDs aside from requiring them to fill in their forms. […]

By Philip Porado |November 1, 2005

3 min read

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Know what you sell, MFDA reminds

an assessment of the investment objectives and any projected returns for the product and the likelihood that the investment will meet these objectives and projections consideration of competitive products that may be less costly or less risky an assessment of the commissions and other compensation to be paid to the member and approved person for […]

By Steven Lamb |November 1, 2005

3 min read

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IDA proposes organizational spin-off

The IDA board has endorsed a proposal to spin-off off its trade association function into a separate organization and focus solely on self-regulation. Critics have long complained that advocating for, and regulating brokers and dealer firms creates potential conflicts of interests. In the past, IDA president Joe Oliver maintained there was no inherent conflict in […]

By Doug Watt |October 31, 2005

2 min read

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CI offers $254 million for Clarington

CI Financial has announced it will tender an offer for all of the outstanding shares of fund manufacturer Clarington. The $13 per share bid represents a hefty 62.5% premium over Friday’s close of $8. The official offer will be mailed out to Clarington shareholders within the next two weeks, giving shareholders a choice of all-cash, […]

By Steven Lamb |October 31, 2005

2 min read

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Energy sector income trusts have secure futures

High commodity prices will be with us for the foreseeable future and that’s good news for energy sector income trusts, Middlefield Capital president Garth Jestley told a Wellington West conference last week. In the resource sector, “depletion is real,” Jestley said. He added production levels have peaked, so even if demand reduction takes place in […]

By Philip Porado |October 31, 2005

2 min read

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Briefly:

(November 4, 2005) York University’s Schulich School of Business has teamed up with The Knowledge Bureau to create a pair of education programs for professionals in the tax and financial services industries. The Tax Services Specialist Program covers Canadian income tax preparation and planning for individuals, corporations and trusts, while the Investment Services Specialist Program […]

By Staff |October 31, 2005

12 min read

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Index offers little diversification: Morningstar

Client education can be an uphill battle, but after many lectures on the evils of chasing last year’s winners, you’ve convinced your clients that diversification is the proper approach. But how well do you know the funds in their portfolio? Are they really as diversified as they should be? “In order for diversification to be […]

By Steven Lamb |October 28, 2005

4 min read

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