Industry News

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Briefly:

(July 11, 2003) A lunch with investment guru Warren Buffett has fetched more than a quarter of a million dollars in an online auction. An anonymous bidder won the prize yesterday with an E-bay bid of $250,100 US. Buffett is donating the proceeds of the auction to Glide, a San Francisco-based charity that helps the […]

By Staff |July 7, 2003

5 min read

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Advocis rejects

(July 7, 2003) Advocis is refusing to support the uniform securities legislation (USL) project after the Canadian Securities Administrators (CSA) rebuffed the advisor association’s latest regulatory reform initiative. The country’s largest association of professional financial advisors wants industry designations to be officially recognized as a holding-out requirement for advice-giving. The Advocis plan, unveiled at last […]

By Doug Watt |July 7, 2003

2 min read

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Re-evaluating retirement plans in July’s Advisor’s Edge

(July 4, 2003) If your clients were nearing retirement when the markets hit the skids, the prolonged downturn could be turning the dream of early retirement into a prayer for any retirement, period. That’s the predicament tackled in “Time is Expiring,” the cover story in July’s Advisor’s Edge. “You have people that are in their […]

By Steven Lamb |July 4, 2003

2 min read

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IFB pledges support in regulatory lobbying campaign

(July 4, 2003) The Independent Financial Brokers of Canada (IFB) says it will spearhead a lobbying effort in favour of a passport registration system that would allow advisors to operate across the country. IFB president David Barber has pledged to take a “lead position” on the issue, including posting a paper on the association’s Web […]

By Doug Watt |July 4, 2003

2 min read

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Are there enough signals yet to reinvest in wireless telecom service stocks?

The reception for telecom services has been very clear throughout the “great telecom implosion” of the past two years. Facing slack demand, fierce pricing pressure and a cash crunch, it has been clearly dreadful. Times could be changing – for the better, believe it or not. One signal of the wireless telecom service segment’s resurgence […]

By Staff |July 3, 2003

2 min read

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Tactical fund managers bullish on equities, analyst says

(July 3, 2003) Tactical asset allocation fund managers are embracing the contrarian approach, diving headfirst back into equities, while investors do the opposite, according to a recently released report from research firm FundMonitor.com. Analyst Anthony Corona says that after a prolonged period of decline, many tactical asset allocation managers see equities as attractively valued, while […]

By Doug Watt |July 3, 2003

2 min read

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Briefly:

(July 4, 2003) IFIC is predicting that June will prove to have been another month of investor exodus from mutual funds, with early estimates seeing net redemptions hitting between $450 million and $850 million. Larger firms were the hardest hit, with AGF seeing $229 million in net redemptions. Some smaller firms posted positive net sales, […]

By Staff |July 2, 2003

4 min read

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Regulatory fees

(July 2, 2003) Ontario’s mutual fund dealers are facing consistently rising regulatory fees amid a tough economic environment, says IFIC. An analysis conducted by IFIC reveals that some fund dealers’ fees will rise more than 50% in 2003, due to several new regulatory initiatives. Major regulatory costs for fund dealers in Ontario include Ontario Securities […]

By Doug Watt |July 2, 2003

2 min read

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Manley continues promotional tour

(June 27, 2003) Federal Finance Minister John Manley continued to promote Canada as a place to do business, as he took his tour to the world’s financial capital, New York City. In a luncheon speech the finance minister reiterated the challenges facing Canada that he had outlined on Wednesday in Toronto, including scares over mad […]

By Steven Lamb |June 27, 2003

2 min read

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U.S. set to beat Canada’s GDP growth: TD’s Drummond

(June 27, 2003) The Canadian economy has had a good run, but its luck is running out, says Don Drummond, senior vice-president and chief economist at TD Bank Financial Group. He predicts that very soon the U.S. economy will begin to outperform Canada’s. “Canada’s economic outlook has soured noticeably in recent months,” Drummond said in […]

By Steven Lamb |June 27, 2003

3 min read

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