Industry News

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Advisors cringe at the term

(February 27, 2004) The 2004 RRSP season is winding down, with the March 1 deadline for a 2003 contribution arriving on Monday. But should the term “RRSP season” really be in an advisor’s vocabulary? In researching our annual coverage of the “last-minute contribution season,” Advisor.ca found hostility among some advisors toward the very use of […]

By Steven Lamb |February 27, 2004

3 min read

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Advisors react to IPC takeover

(February 26, 2004) Yesterday’s announcement that Investors Group (IG) is acquiring IPC Financial Network brought mixed reaction from advisors. With IG’s deep pockets, some see it as a guarantee of IPC’s future success, but others worry that IPC is too small to maintain its identity, let alone its independent culture. “I don’t have a concern […]

By Steven Lamb |February 26, 2004

3 min read

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Advisors urge caution as CMHC eases rules for home buyers

(February 26, 2004) A move by the Canada Mortgage and Housing Corporation (CMHC) to scrap minimum down payment requirements might appear to be an attractive option for prospective home buyers. But it’s probably not a wise move for most clients, advisors say. “This idea that people who have absolutely no savings discipline whatsoever can actually […]

By Doug Watt |February 26, 2004

3 min read

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Investors Group acquires IPC

(February 25, 2004) Winnipeg-based mutual fund giant Investors Group (IG) is expanding its presence in the financial planning channel. Today it announced plans to acquire IPC Financial Network in a friendly takeover bid valued at close to $100 million. IG says it will purchase all IPC common shares at a price of $1.95. IPC shares […]

By Doug Watt |February 25, 2004

3 min read

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TD report urges early start for RRSP

(February 24, 2004) Canadians who put off retirement planning could find themselves short on cash when they finally do leave the workforce, according to a report from TD Economics, supporting the mantra of “save early, save often.” “With the baby boom generation approaching retirement, concerns about the adequacy of personal savings will only intensify in […]

By Steven Lamb |February 24, 2004

3 min read

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Regulators moving on advisor registration

(February 24, 2004) Although publicly focusing on larger regulatory initiatives — such as uniform securities legislation (USL) — the Canadian Securities Administrators (CSA) is quietly working on a couple of smaller projects that will have a direct impact on advisors. “We have some interesting spinoffs from the USL project,” said CSA chair Stephen Sibold yesterday […]

By Doug Watt |February 24, 2004

2 min read

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Goodale to unveil budget in March

(February 24, 2004) Federal Finance Minister Ralph Goodale will present his first budget on Tuesday, March 23. Goodale made the announcement today in the House of Commons. The minister has promised to deliver a balanced budget and to continue the Liberal government’s commitment to reducing the federal debt, now at $511 billion. Ottawa has earmarked […]

By Doug Watt |February 24, 2004

2 min read

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Briefly:

(February 27, 2004) Royal Bank is on track for another banner year, reporting first quarter net income of $793 million, up 3% from Q1 of 2003. This increase comes despite a drop of 3% in total revenues and another $240 million wiped out by the strong Canadian dollar. “We benefited this quarter from improved credit […]

By Staff |February 23, 2004

5 min read

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Single securities regulator forecast for 2005

(February 23, 2004) Canada could have a single national securities regulator in place as soon as next year, says the executive director of the wise persons’ committee (WPC). But Elizabeth Harrison concedes such an ambitious timetable depends on political agreement at both the federal and provincial level — and that’s far from a sure thing. […]

By Doug Watt |February 23, 2004

3 min read

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Farmers need advice for wind-down of income stabilization program

(February 23, 2004) To most Canadian farmers, the idea of reaping what they have sown in March will seem a little early. But as the federal government prepares to roll out the new Agricultural Policy Framework, it is looking to put an old program out to pasture. Starting March 31, farmers have to begin the […]

By Steven Lamb |February 23, 2004

4 min read

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