Industry News

Decorative pattern

Briefly:

(March 12, 2004) Canadian consumers are were less optimistic in February, according to an Investors Group survey conducted by Decima Research. The Decima-Investors Group Index of Canadian Consumer Confidence dropped to 86.6, off 6.8 index points from November’s reading. “A number of smaller factors such as residual holiday bills, cold weather, higher heating bills and […]

By Staff |March 9, 2004

5 min read

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Bad things do happen to good advisors, warns Advisor’s Edge

(March 9, 2004) So, you think the only advisors who get sued are the sharks, swindling little old ladies old of their retirement savings? Think again. “Yes, Virginia, you can get sued — it can happen to you,” says Deanne Gage, managing editor of Advisor’s Edge. “We thought it was very important to have a […]

By Steven Lamb |March 9, 2004

3 min read

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RBC attacks consumer debt

(March 9, 2004) North American consumers are in far better financial shape than the recent spate of doom-and-gloom debt reports would have you believe, according to a report from RBC Economics. “The prevailing outlook on North American household finances underestimates employment, personal income and productivity growth,” said Derek Holt, assistant chief economist of RBC Economics. […]

By Steven Lamb |March 9, 2004

3 min read

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Eliminate labour fund tax credit, says C.D. Howe

Raising capital: How labour fund tax credits work (March 9, 2004) Ottawa could save $100 million a year by scrapping the federal tax credit for labour-sponsored investment funds (LSIFs), says the C.D. Howe Institute. That’s one of several tax reforms suggested in C.D. Howe’s shadow budget, which was released today. Most labour funds qualify for […]

By Doug Watt |March 9, 2004

2 min read

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Advocis calls for action on advisor incorporation

(March 8, 2004) Advocis says the Ontario government should give “immediate priority” to amending the Securities Act to allow incorporated securities salespersons. The recommendation comes in Advocis’s pre-budget submission, sent last week to the province’s finance minister. Advocis says at least 70% of its members are licensed for both insurance and mutual funds or other […]

By Doug Watt |March 8, 2004

2 min read

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Brokers enjoyed solid gains in 2003

(March 8, 2004) Canada’s securities industry was firing on all cylinders in 2003, says the IDA, with operating profits rising 21% from the previous year to $3.3 billion. “The year marked a dramatic turnaround in industry fortunes following a 23% earnings drop in the previous two years,” the IDA said in its quarterly securities industry […]

By Doug Watt |March 8, 2004

2 min read

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A look back at the 2004

(March 8, 2004) Evidence is mounting that the first two months of 2004 have been strong for the investment community, as the traditional last-minute rush to invest in RRSPs came to a close last week. Net new mutual fund sales for February alone are estimated at about $5 billion — 10 times that of February […]

By Steven Lamb |March 8, 2004

3 min read

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Court rules on interest deductibility

(March 5, 2004) The Supreme Court of Canada has ruled on the much-talked about case of Gifford v. Canada — the income tax appeal of a financial advisor who wrote off the interest on a loan used to buy a colleague’s book. “The agreement to pay $100,000 to purchase accumulated goodwill and the agreement not […]

By Steven Lamb |March 5, 2004

4 min read

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Columnist sparks DSC debate

(March 5, 2004) An online news article criticizing advisors who sell back-load or deferred sales charge (DSC) mutual funds provoked an angry response this week in Advisor.ca’s Talvest Town Hall. The article, written by columnist Wayne Cheveldayoff and distributed to various financial Web sites by CP Online, was titled “Investors should avoid advisors who insist […]

By Doug Watt |March 5, 2004

3 min read

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IPC to remain advisor friendly, CEO pledges

(March 4, 2004) Steve Meehan says he understands the fear that Investor Group’s (IG) takeover of his firm has created among its advisors — the CEO of IPC Financial Network says if he was an advisor, he’d feel the same way. But Meehan is convinced the firm’s 600 advisors will be supportive once they realize […]

By Doug Watt |March 4, 2004

3 min read

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