Industry News

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Advocis offers B.C. advice on advisor incorporation

(May 14, 2004) With regulators in British Columbia considering a plan to allow advisors to incorporate, Advocis is offering suggestions as to how the program might work, including some stiff entry requirements. The British Columbia Securities Commission (BCSC) is mulling over the creation of a new advisor registration category for “independent owner operators.” Details are […]

By Doug Watt |May 14, 2004

2 min read

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Goodale reportedly backtracking on trust limits

(May 14, 2004) Pension fund managers might get their wish as federal Finance Minister Ralph Goodale says he will review the budget item that restricted pension participation in the income trust sector. When Goodale tabled the budget in March, it prohibited pensions from holding more than 1% of their assets in income trusts. Pensions were […]

By Steven Lamb |May 14, 2004

2 min read

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Tory leader touts tax prepaid savings plans

(May 14, 2004) Conservative Party leader Stephen Harper says a Tory government would introduce tax prepaid savings plans (TPSPs) as a supplement to the RRSP program. Harper made the pledge today in a speech at the C.D. Howe Institute in Toronto. Unlike RRSPs, contributions to TPSPs are not tax deductible, but the investment income grows […]

By Doug Watt |May 14, 2004

2 min read

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Pension plan members seeking independent advice, says expert

(May 13, 2004) The trend toward pension plan sponsors teaming up with third-party advisory firms to provide financial education and advice to employees is taking off, says securities lawyer Glorianne Stromberg, partly due to the inherent weaknesses of the defined contribution (DC) model. Stromberg, a well-known investor advocate, points to a strategic alliance established last […]

By Doug Watt |May 13, 2004

3 min read

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Beware! Loose lips can violate privacy act

R elated Stories PIPEDA primer: How new privacy act affects advisors SROs issue warning on privacy legislation Putting privacy into practice: A sample consent document Eye on privacy (from the Mid-January edition of Advisor’s Edge) But shortcuts taken in the office for the sake of convenience can mean an advisor is breaking the new privacy […]

By Steven Lamb |May 12, 2004

3 min read

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Accountants announce merger plan

(May 11, 2004) The professional associations representing Canada’s chartered accountants (CAs) and certified management accountants (CMAs) are considering a formal merger. If approved, the new body would have 100,000 members, making it one of the largest accounting associations in the world. The national offices of the Canadian Institute of Chartered Accountants (CICA) and CMA Canada […]

By Doug Watt |May 11, 2004

2 min read

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Branch managers can be

R elated Stories Compliance check: The sky is the limit The write stuff: How to protect yourself with a proper paper trail Paper trail, know-your-client keys to winning in court Advisor friend or foe? (from the April 2004 edition of Advisor’s Edge) “Some of our members incorrectly assume we mean trade supervision and quite frankly […]

By Steven Lamb |May 11, 2004

4 min read

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Briefly:

(May 14, 2004) Transamerica Life Canada has announced “enhancements” to its ProtectorPlus permanent life insurance, including lower premiums and guaranteed cash values. The plan can also be converted to universal life if clients want to add tax-sheltered investments. “In most cases, if clients can no longer afford the premiums on a T-100 policy it will […]

By Staff |May 10, 2004

7 min read

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AGF looks to advisors to help boost sales

(May 10, 2004) AGF Funds is beefing up its executive team and refocusing on the advisor channel in an effort to reverse the fund company’s recent sales slump. AGF is combining its sales and marketing group and has hired Randy Ambrosie, formerly of HSBC Securities, to lead the new division. It’s the first major executive […]

By Doug Watt |May 10, 2004

3 min read

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Morningstar conference update: Tactical approach can boost returns, says fund manager

(May 7, 2004) Although he’s a staunch advocate of asset allocation, fund manager David Picton believes it is possible to add returns to portfolios by shifting the asset mix. Picton made his case for tactical asset allocation at Morningstar Canada’s “Lessons in Effective Portfolio Construction” conference in Toronto earlier this week. Picton is senior vice-president, […]

By Donna Green |May 7, 2004

2 min read

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