Industry News

Decorative pattern

Briefly:

(June 18, 2004) AGF Management has appointed economist David Hale to the board of directors of their mutual fund corporations. Hale — founder of Chicago-based Hale Advisors — will also serve as a governor of AGF’s mutual fund trusts. Before launching his own firm, Hale was global chief economist at Zurich Financial Services Group. “David […]

By Staff |June 16, 2004

4 min read

Decorative pattern

Calculation error reduces May fund sales

(June 16, 2004) Net new sales of mutual funds reached $533 million last month, IFIC says, well short of the preliminary estimate of $800 million. IFIC blames the discrepancy on a reporting error from BMO Investments, which supplied the fund industry association with incorrect data. “Net sales for the month of May were positive for […]

By Doug Watt |June 16, 2004

2 min read

Decorative pattern

CIFPs vows to protect planners’ interests

(June 16, 2004) Financial planners worried about the revolution in financial services can rest assured their interests will be safeguarded by the Canadian Institute of Financial Planners (CIFPs), according to managing director Keith Costello. Speaking to the CIFPs annual general meeting in Ottawa on Tuesday, Costello said the CIFPs’ goal remains to become the primary […]

By Steven Lamb |June 16, 2004

2 min read

Decorative pattern

Future belongs to risk managers and those who understand seniors’ needs

(June 15, 2004) Advice and managed money are on the ascendancy in the financial services industry and, according to research guru Earl Bederman, this trend isn’t likely to change soon. Bederman is president of Investor Economics, a Toronto-based firm that gathers market intelligence in the financial services industry. He presented an overview of the wealth […]

By Donna Green |June 15, 2004

3 min read

Decorative pattern

Board independence affects stocks less than shareholder rights do

(June 15, 2004) Corporate governance does have some impact on company’s performance in Canada, says a study by three Simon Fraser University researchers. Their study is the winner of the fourth annual Barclay’s Global Investors research award, announced today. “Corporate Governance, Family Ownership and Firm Value: Canadian Evidence,” written by Peter Klein, Daniel Shapiro and […]

By Scot Blythe |June 15, 2004

3 min read

Decorative pattern

IDA conference update: Momentum slowing for national regulator

(June 15, 2004) Despite strong support from the financial services industry, the push for a single national securities regulator appears to be losing steam. Three of the country’s top regulators gathered yesterday at the annual IDA conference in Mont Tremblant, Quebec, for a discussion on regulatory priorities. Tellingly, the issue of a national regulator was […]

By Doug Watt |June 15, 2004

2 min read

Decorative pattern

IDA conference update: Forbes warns regulators may thwart risk-taking

(June 14, 2004) Billionaire and editor-in-chief of Forbes magazine Steve Forbes warns that governments and regulators in the post-Enron environment must be cautious not to stifle entrepreneurial and investment risk-taking. During his luncheon address to the 88th annual IDA conference in Mont Tremblant, Quebec, Forbes expressed his concerns that in the effort to right the […]

By Darin Diehl |June 15, 2004

2 min read

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CIFPs conference update: Expert reveals three-step plan for practice profitability

(June 15, 2004) Advisors targeting high net worth (HNW) clientele need to return to their roots as relationship-builders to win the clients they seek, according to Pierre McLean, vice-president of national sales with Franklin Templeton Investments. “Many of you now find yourself managing assets perhaps at the expense of what made you successful in the […]

By Steven Lamb |June 15, 2004

3 min read

Decorative pattern

IDA conference update: Oliver calls for super self-regulator, more enforcement muscle

(June 14, 2004) IDA president and CEO Joe Oliver says the financial services industry and the public it serves might well be better off with a single self-regulatory organization combining the regulatory powers of the IDA, the MFDA, the TSX and the Montreal Bourse. “We could create a single organization that would be functional for […]

By Darin Diehl |June 14, 2004

2 min read

Decorative pattern

Bank of Canada warns on pension deficits

(June 14, 2004) The Bank of Canada is warning that most of Canada’s corporate defined benefit (DB) pension plans are still facing a deficit, despite the positive returns made on the stock market in 2003. In its Financial System Review released late last week, the central bank says the majority of DB pensions were in […]

By Steven Lamb |June 14, 2004

2 min read

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