Industry News

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Fund sales steady and strong

(October 17, 2005) Canadians were buying mutual funds and moving out of money market investments in September. Canadian bond funds reported the highest change in net sales during the month, while Canadian equity funds, despite relatively strong market activity during the year, suffered with the highest number of redemptions. Overall, IFIC says net sales for […]

By Kate McCaffery |October 17, 2005

2 min read

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Getting to know you

(October 2005) This issue marks my last as part of the Advisor Group. For five years I’ve had the privilege of leading a team dedicated to producing the best magazine, website, conferences and newspaper for financial professionals in Canada. As I embark on a new adventure, I leave behind a talent-rich team that will no […]

By Darin Diehl |October 17, 2005

3 min read

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New anti-money laundering rules

(October 14, 2005) Canada’s proposed new anti-money laundering and anti-terrorist financing legislation would impose onerous obligations on financial advisors, Advocis says in a submission to the federal government. Advocis commends Ottawa for attempting to put Canada in the forefront in the global fight against money laundering and terrorism. But the country’s largest advisor association maintains […]

By Doug Watt |October 14, 2005

2 min read

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Trusts look stable, for now

(October 14, 2005) Standard & Poor’s issued two key decisions on income trust this week. First, the ratings agency said it would go ahead as planned and add trusts to the TSX starting in December. A day later, S&P decided not to alter its stability ratings on trusts — at least not yet. Both were […]

By Mark Brown |October 14, 2005

3 min read

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Under the 49th: U.S. regulatory update

(October 13, 2005) It took more than three years, but self-regulatory organizations and state regulators in the U.S. finally harmonized their definition of “branch office” for examination, registration and supervision purposes. Late last year, the Securities and Exchange Commission (SEC) approved a proposal hammered out by the New York Stock Exchange (NYSE), National Association of […]

By Philip Porado |October 13, 2005

3 min read

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Women gaining financial confidence: survey

(October 13, 2005) Canadian women feel more secure about their financial future, but at the same time may need to assume more risk in their portfolio to achieve their retirement goals, according to a national survey commissioned by TD Waterhouse. Perhaps reflective of the overall retail investor market, 50% of women consider themselves to be […]

By Steven Lamb |October 13, 2005

2 min read

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CFPs still face client misconceptions

(October 12, 2005) Despite some success in promoting the CFP designation as a brand, the Financial Planners Standards Council admits the general public still holds misconceptions about financial planning. In a survey of 803 Certified Financial Planner (CFP) professionals, a quarter of respondents said between 26% and 50% of new clients are unclear about what […]

By Steven Lamb |October 12, 2005

2 min read

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Economic growth to shift west: Scotia

(October 12, 2005) Continued strength in the commodities markets will prove to be a double edged sword for the Canadian economy, likely through 2010, according to the latest global economic update from Scotia Economics. In a report entitled Tipping Points, Scotia economists predict demand will remain strong for energy and mineral resources, propping up the […]

By Steven Lamb |October 12, 2005

3 min read

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4th Annual Dollars & Sense Survey: Crunching the numbers

(October 11, 2005) The average advisor took home $98,246 in personal annual income in 2004, up from $91,406 the previous year. Advisors on the IDA platform made more, averaging $124,946 annually compared to the MFDA advisors’ average personal annual income of $86,674. Despite this, there’s been no dramatic shift of advisors moving to the IDA […]

By Doug Watt |October 11, 2005

2 min read

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4th Annual Dollars & Sense Survey: Beyond KYC

(October 11, 2005) Many critical details related to an advisor’s practice — providing adequate planning and service, creating a credible liability defence in case it is ever needed, and ultimately transitioning the business when the time comes to retire — all depend on good habits and high quality record keeping. Advice for advisors about setting […]

By Kate McCaffery |October 11, 2005

3 min read

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