Industry News

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Conference season: Your guide to this fall’s major industry events

(August 27, 2003) After a short summer break, the financial industry’s conference schedule picks up again in earnest next month, with at least 20 events on a busy fall calendar, including the cross-country Advisor Forum series. The first major fall event is IFIC’s annual conference, scheduled for September 9-11 in Toronto. Keynote speakers include business […]

By Staff |August 27, 2003

3 min read

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Briefly:

(August 28, 2003) In its inaugural release the C.D. Howe Institute’s Monetary Policy Council has called on the Bank of Canada to lower its trend-setting overnight lending rate to 2.75%, citing sluggish growth, easing inflation and the high value of the Canadian dollar. The recommendation was arrived at by averaging the targets set by the […]

By Staff |August 26, 2003

3 min read

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CI may trim and expand Synergy lineup

CI Fund Managements takeover of Synergy Mutual Funds last week secured CEO and founder Joe Canavan as president of Assante in what was really a three-part deal. What else did CI get? Little noticed, CI got another Bill to complement Legg Mason’s Bill Miller, who has beaten the S&P 500 12 years running. Skylon Capital, […]

By Scot Blythe |August 26, 2003

6 min read

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B.C. regulator fires back at Ontario’s

(August 26, 2003) The ongoing war of words between regulators in B.C. and Ontario heated up again today, with the head of the British Columbia Securities Commission (BCSC) accusing his Ontario counterpart of raising “false alarms” about B.C.’s securities reform proposals. B.C. wants to simplify securities regulation and has introduced draft legislation emphasizing a principles- […]

By Doug Watt |August 26, 2003

3 min read

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Wise persons committee finishes consultation round

(August 26, 2003) The federally appointed wise persons committee on securities regulation has wrapped up its public consultation phase, having received 80 written submissions on how to reform Canada’s patchwork of regulatory bodies. “We are very pleased with the quantity — and especially the quality — of the input we have received from market participants […]

By Steven Lamb |August 26, 2003

1 min read

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Staying onside when handling offshore accounts

(August 25, 2003) It’s bound to happen sooner or later. A client comes into your office and requests your services to help him open an offshore account. Shady notions of international intrigue and secret numbered bank accounts leap immediately to mind. There’s a certain air of mystique about the whole business. In a post-September 11, […]

By Staff |August 25, 2003

4 min read

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Advisors hope CI deal will change Assante attitude

(August 25, 2003) Assante advisors are expressing cautious optimism following the announcement on Friday, August 22, that CI Fund Management was buying Assante Asset Management. There has been dissatisfaction with the management of Assante, which has been criticized for focusing too much on head office development and not enough on the individual advisor. “Assante management […]

By Steven Lamb |August 25, 2003

4 min read

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CI Funds goes on buying spree, takes over Assante & Synergy

(August 22, 2003) CI Fund Management has moved into the upper echelon of Canada’s mutual fund industry, today acquiring the Canadian operations of Assante Corporation as well as Synergy Asset Management. The combined deals, worth nearly $1 billion, will make CI the number two fund firm in Canada. “We will have about $38.5 billion in […]

By Doug Watt |August 22, 2003

3 min read

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CI deals get thumbs-up from industry observers

(August 22, 2003) The massive shake-up that hit the mutual fund sector on Friday morning is being welcomed by those who watch the industry. “CI has been hit hard in this period of net redemptions for the industry,” says Dan Hallett, president of Dan Hallett & Associates Inc. “What they’ve done is picked up two […]

By Steven Lamb |August 22, 2003

4 min read

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IPC boss sheds light on restructuring, advisor cuts not part of plan

(August 22, 2003) The Investment Planning Counsel announced restructuring plans yesterday, including the replacement of some of its top executives, but CEO Steve Meehan wants to reassure the firm’s advisors. “We’re not cutting advisor’s payouts, the number of advisors is staying the same,” says Meehan. “We’re just getting rid of the part of our company […]

By Steven Lamb |August 22, 2003

2 min read

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