Industry News

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More MGAs embracing technological change

(June 13, 2005) Insurance company sales processes are notoriously behind the times relative to developments in the mutual fund industry. Where mutual fund companies regularly process transactions electronically, many insurance producers routinely file paper-based applications for their clients. Although this part of the industry can be highly resistant to change, managing general agencies (MGAs) are […]

By Kate McCaffery |June 13, 2005

3 min read

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Popularity eludes SRI funds

(June 13, 2005) Industry executives are taking a critical look at the state of socially responsible investing in Canada. And it’s not a pretty picture, particularly on the retail side. What’s more, it’s unfair to place the blame on advisors, says Gary Hawton, president of Meritas Mutual Funds. Hawton says by his reckoning, SRI has […]

By Doug Watt |June 13, 2005

3 min read

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IFB reduces E&O rates

(June 10, 2005) Independent Financial Brokers of Canada is reducing its errors and omissions insurance rates and introducing higher coverage limits. IFB’s rates now start at $750 per year for $1 million in coverage, a $50 decline. IFB has also secured additional coverage for members who require limits of up to $2 million, with those […]

By Doug Watt |June 10, 2005

2 min read

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SEC seen backing off on enforcement

(June 10, 2005) William Donaldson’s decision to step down as chair of the U.S. Securities and Exchange Commission will mark a change in direction for the agency. Donaldson was appointed in 2003 at a time when public confidence in the U.S. securities markets had been shaken by corporate accounting scandals. In response, and under some […]

By Philip Porado |June 10, 2005

3 min read

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MGAs urged to come together

(June 10, 2005) Managing general agencies, by their own admission, are an incredibly splintered group. To the outside observer, the business model MGAs have created for themselves appears competitive to the point of dysfunction. Cost downloading and increased pricing pressures from the insurance carriers however could be the catalyst needed to create unity and cooperation […]

By Kate McCaffery |June 10, 2005

3 min read

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Crocus debacle could affect entire LSIF sector, experts warn

(June 9, 2005) While the recent scathing report from Manitoba Auditor General Jon Singleton focused exclusively on the Crocus Investment Fund, industry experts warn the fallout could spread to labour-sponsored funds throughout the country. The 245-page report — five months in the making — identified numerous causes for the $61.1 million decline in the value […]

By Geoff Kirbyson |June 9, 2005

3 min read

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Dealer profits suffer Q1 slowdown

(June 9, 2005) RRSP season usually means higher profits for Canada’s securities industry. And although operating profits at dealer firms reached a healthy $1.1 billion in the first quarter of 2005, that’s a 9% drop from last year and 1% lower than a record fourth quarter in 2004. “A wobbly equity market, lacklustre trading and […]

By Doug Watt |June 9, 2005

2 min read

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Advisors satisfied with MGAs, survey suggests

(June 9, 2005) Advisors selling insurance enjoy a good relationship with their managing general agencies (MGA), despite communications gaps on issues such as compensation and compliance, according to new research conducted by NewLink and the ADVISOR Group. Fifty-six per cent of advisors surveyed use only one MGA. While some used more than one, there was […]

By Steven Lamb |June 9, 2005

4 min read

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Your clients work hard for their money. Isn’t it time their money works hard for them?

Your clients probably have life insurance. After all, it is the cornerstone of a good financial plan. But do they know that rather than gathering dust in a filing cabinet, their life insurance policies could be out making money for them? Help your clients make their money work for them through the power of life […]

By Staff |June 9, 2005

1 min read

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Global equities near fair value, says analyst

(June 8, 2005) Investors looking for under-priced investment opportunities have their work cut out for them, as most of the equity markets in developed economies are already at fair value, according to an expert on asset allocation. There are still some good opportunities available, says Edwin Denson, executive director and senior asset allocation analyst for […]

By Steven Lamb |June 8, 2005

3 min read

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