Industry News

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Whyte re-surfaces at Dynamic

(May 9, 2005) Less than two months after leaving AIC, veteran industry executive David Whyte has joined Dynamic Mutual Funds as executive vice president, national sales. “His exceptional skills in sales and marketing, and developing institutional synergy, will complement the company’s expansion strategy,” said Dynamic president David Goodman in an appointment notice posted in the […]

By Doug Watt |May 9, 2005

2 min read

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Now’s the time to review estate plans

(May 6, 2005) With tax season over for another year, now is the time advisors should be contacting their clients to review their estate plan, according to one of Canada’s leading personal tax experts. “April is the time when people have all of their investment files open, they’re reviewing accounts with brokers, they’re reviewing their […]

By Steven Lamb |May 6, 2005

2 min read

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Missing mutual fund rep fined $375,000 by MFDA

(May 6, 2005) In its first ever disciplinary action against a mutual fund sales rep, the MFDA has fined Robert Roy Parkinson $375,000 for bilking more than two dozen clients out of $337,000. Parkinson was also banned permanently from the securities market. Parkinson worked for IPC in London, Ontario between November 2000 and February 2003. […]

By Doug Watt |May 6, 2005

2 min read

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Social investment on the upswing, survey reveals

(May 6, 2005) Total assets in Canada’s social investment industry jumped 27% in the past two years, according to a study released today by the Social Investment Organization. The survey, produced by the SIO every two years, shows total SRI assets of $65.5 billion, with solid growth across most categories, including asset management and retail […]

By Doug Watt |May 6, 2005

3 min read

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Norshield suspends redemptions

(May 5, 2005) The hedge fund industry is raising eyebrows again, as Norshield Financial Group has temporarily suspended investor redemptions from its flagship Olympus Univest fund. Norshield has said investors’ capital is safe, but that it requires 60 to 90 days to unwind some of its contracts to gain access to such a significant portion […]

By Steven Lamb |May 5, 2005

2 min read

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Wage growth weakness worse than previously reported, TD says

(May 5, 2005) Earlier this year, TD Economics reported that the after-tax income of the average Canadian rose just 3.6% over the past 15 years. But an update of that study suggests the wage growth picture looks even worse, when other factors are taken into account. TD economist Eric Lascelles added education, gender and age […]

By Doug Watt |May 5, 2005

3 min read

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BMO Harris launches suite of services for affluent seniors

(May 5, 2005) Financial planning competition in the country just got a little bit more intense with BMO Harris Private Banking publicly launching their new lineup of services for affluent seniors. Known as enCircle, the wealth management program aims to help seniors and their adult children cope with lifestyle changes that inevitably come with aging. […]

By Kate McCaffery |May 5, 2005

3 min read

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Berkshire communicates to clients on Portus

(May 4, 2005) After months of silence, Berkshire has finally sent a memo to clients whose advisors referred them to Portus, the hedge fund firm currently under investigation by Ontario regulators. Although the memo states that Berkshire is concerned about the ongoing situation at Portus, it stops short of offering clients any protection, such as […]

By Doug Watt |May 4, 2005

2 min read

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AIC fund back in U.S. equity category

(May 4, 2005) The Canadian Investment Funds Standard Committee (CIFSC) has moved AIC’s American Focused fund back to the U.S. equity category in the wake of the departure of manager Larry Sarbit. The fund was moved to the specialty/miscellaneous category last year because Sarbit held too much cash to meet the requirements of the U.S. […]

By Doug Watt |May 4, 2005

2 min read

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Clients more willing to talk about health coverage

(May 4, 2005) Disability insurance sales are on the decline, in part because many advisors are not well prepared to talk about health with their clients. Insurance companies however say the latest rise in awareness of products like critical illness insurance are bringing health and disability matters back into advisor/client discussions. “Now with critical illness […]

By Kate McCaffery |May 4, 2005

3 min read

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