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(November 3, 2003) The federal government expects to remain in the black despite the string of bad luck dealt to the Canadian economy this year, according to federal Finance Minister John Manley. “We will not run a deficit this year,” Manley told the House of Commons Standing Committee on Finance in Ottawa. “Canada’s economic fundamentals […]
By Steven Lamb |November 3, 2003
2 min read
(November 3, 2003) The federal finance department has introduced some controversial changes to income tax laws that, if approved, could have dramatic implications for investors and small business owners. Ottawa wants to update the rules on deductibility of losses based on the concept of reasonable expectation of profit, says Jamie Golombek, a tax specialist with […]
By Doug Watt |November 3, 2003
3 min read
Speed: Beckwith implored advisors to look at every way clients and prospects are served and question how you can cut that time in half. Speed: Beckwith implored advisors to look at every way clients and prospects are served and question how you can cut that time in half. Communication and clarity: He encouraged advisors to […]
By John Craig |November 3, 2003
(October 31, 2003) Advisors scanning the schedule for the Financial Planning Association’s (FPA) upcoming Success Forum 2003 will notice a distinct new addition to the educational lineup for U.S.-based annual convention: a dedicated track focusing on Canadian issues and angles. The “Canadian issues” education session track — positioned alongside other tracks including “business solutions,” “estate […]
By John Craig |October 31, 2003
(October 31, 2003) Fans of Efficient Markets Theory may have already noticed the arrival of a new family of funds in Canada, as Dimensional Fund Advisors made their debut in Canada this week. Aimed primarily at the fee-based advisor, Dimensional’s funds are based on Efficient Markets Theory espoused by University of Chicago researchers Eugene Fama […]
By Steven Lamb |October 31, 2003
(October 31, 2003) Stephen Ross spent much of the three-year bear market culling clients — and he has no regrets. The Calgary-based advisor says firing clients helped him eliminate negativity and spend more time with people he enjoyed working with. Ross took part in a Top Advisor Panel discussion this week at the Advisor Forum […]
By Doug Watt |October 31, 2003
(October 30, 2003) A series of unexpected jolts to the Canadian economy combined with the soaring loonie will dampen growth in 2003, say economists at the Bank of Montreal. However, a stronger U.S. economy, low interest rates and rising equity prices are brightening the picture for 2004. In its annual economic outlook report, BMO predicts […]
By Doug Watt |October 30, 2003
(October 29, 2003) The Ontario Securities Commission (OSC) is set to resume its stalled investigation of Universal Settlements International (USI) — a viatical settlements company based in Waterloo, Ontario — following a favourable decision by the province’s divisional court. USI argued that since it is not registered under the Securities Act, and does not sell […]
By Doug Watt |October 29, 2003
(October 28, 2003) Two of Canada’s largest life insurance companies are reporting record third-quarter profits. Manulife Financial today reported net income of $396 million, a 21% increase from the same period last year. Sun Life Financial posted a $394 million profit, up 9% from 2002. Both firms cited rising equity markets and higher sales as […]
By Doug Watt |October 28, 2003
1 min read
(October 28, 2003) Adherence to practice standards will soon be a requirement for holders of the Registered Financial Planner (R.F.P.) designation. Hot on the heels of a similar project by the Financial Planners Standard Council (FPSC) — promoters of the CFP designation $#151; the Institute of Advanced Financial Planners (IAFP) has released its own set […]
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