Industry News

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Debunking the

(December 16, 2003) With late December becoming ever-more hectic, most clients would rather not worry about their taxes until the New Year. There’s simply too much to get done — besides the government gives them a whole 60 days to finish making tax arrangements, right? That’s not necessarily the case. Sure, your clients have that […]

By Steven Lamb |December 16, 2003

2 min read

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CSA proposes enhanced enforcement powers for regulators

(December 16, 2003) Nearly two years in the making, draft legislation proposing uniform securities laws that would apply across the country was released today by the Canadian Securities Administrators (CSA), the umbrella group for Canada’s provincial and territorial securities regulators. The draft contemplates stiffer penalties for securities law offenders and would give regulators the power […]

By Doug Watt |December 16, 2003

3 min read

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Briefly:

(December 19, 2003) Eighty-nine per cent of Canadians plan to contribute at least as much to their RRSP for 2003 as they did for the 2002 tax-year, according to a survey by Manulife Investments. The same survey found that 43% of respondents work with a financial advisor or planner. Households with income over $70,000 were […]

By Staff |December 15, 2003

6 min read

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Net fund sales top $500 million in November

(December 15, 2003) Investors bought up more than half a billion dollars in mutual funds in November, according to IFIC, with $513 million in new money flowing into funds. “This is the second consecutive month of positive sales and the fourth in the last five months,” said Tom Hockin, IFIC’s president and CEO. “Long-term fund […]

By Steven Lamb |December 15, 2003

2 min read

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Don’t forget financial New Year’s resolutions

I will check and revise my insurance coverage to match my changing needs As your life evolves (career, marriage, family), your need for income protection and estate planning changes. That is why you should resolve to find out how much and what type of insurance is important in your situation. I will be a prudent […]

By Steven Lamb |December 12, 2003

3 min read

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Geiss story unites advisors in the Talvest Town Hall

(December 12, 2003) The IDA might want to take note: Advisors are angry and calling for a revolution. At least, that’s the prevailing sentiment in the Talvest Town Hall, following Wednesday’s Advisor.ca story about prominent financial planner Bernie Geiss leaving the securities industry. Geiss, a fee-for-service planner, quit the securities side of his business this […]

By Steven Lamb |December 12, 2003

3 min read

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Advisors left looking for new tax shelters

(December 12, 2003) The federal government’s abrupt move to outlaw “buy low, donate high” charitable tax shelters has left advisors who were selling the investment high and dry. Some are angry with the CCRA, but there’s also concern over finding new kinds of shelters Ottawa will permit in the future. Earlier this week, the finance […]

By Doug Watt |December 12, 2003

3 min read

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Survey finds advisors favour equities, trusts

(December 11, 2003) They have dominated the Toronto IPO market for the past two years. The mainstream media has warned they are a bubble waiting to burst. But income trusts are still one of the most popular investment vehicles for this RRSP season. A survey conducted for The ADVISOR Group has found income trusts are […]

By Steven Lamb |December 11, 2003

2 min read

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Late mutual fund trading likely not a concern in Canada, says IFIC

(December 11, 2003) The vast majority of Canada’s mutual fund firms follow strict time-stamping protocols, effectively eliminating the possibility of late trading, according to the country’s investment fund industry association. IFIC officials held a media briefing today in Toronto to respond to the scandals that have plagued the U.S. fund industry. Although the fund industries […]

By Doug Watt |December 11, 2003

2 min read

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B.C. planner quitting securities industry in regulatory dispute

(December 10, 2003) A prominent B.C. financial planner is quitting the securities side of the industry in a regulatory dispute with his dealer and the IDA. Bernie Geiss — a fee-for-service planner currently with Berkshire Securities in Vancouver — says he’s selling the investment side of his business in January and resigning from the brokerage […]

By Doug Watt |December 10, 2003

4 min read

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