Industry News

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Advocis pushes industry cooperation to reduce

(February 7, 2003) Advocis, the country’s largest association of financial advisors, says it’s time the industry took steps to reduce fragmentation by working together on common projects. After consulting with 18 professional associations and financial services firms, Advocis today released an ambitious “call to action” paper, suggesting a more cooperative approach would better serve the […]

By Doug Watt |February 7, 2003

3 min read

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Barclays proclaims Fee Freedom Day for fund investors

(February 6, 2003) Every year, the Fraser Institute makes headlines by calculating Tax Freedom Day, the day the average Canadian has finished paying taxes for the year. Now, Barclays Global Investors is calculating Fee Freedom Day, when the average mutual fund investor stops paying fees and starts keeping the returns generated from their investment. This […]

By Doug Watt |February 6, 2003

2 min read

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Canadian wealth managers focus on market performance growth path

(February 6, 2003) Canadian wealth managers — banks, insurance companies, investment counsellors and mutual fund distributors — foresee future growth in better stock market performance, not by buying rivals, a survey by PricewaterhouseCoopers reports. The survey, which polled 25 wealth managers with a total of $1.4 trillion in assets, found that 40% of wealth managers […]

By Scot Blythe |February 6, 2003

5 min read

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Ethical Funds defends

(February 5, 2003) The president of Ethical Funds has rejected complaints that the mutual fund company’s current advertising campaign trivializes environmental issues. The print and billboard ads show a business professional with the caption “I don’t wear hemp, burn incense, or hug trees.” The complaint came from the head of a Vancouver hemp clothing retailer. […]

By Doug Watt |February 5, 2003

2 min read

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Fixed income performance keeps CPP in the black

(February 5, 2003) The Canada Pension Plan posted marginally positive numbers over the last three quarters as strong bond performance offset mixed results in the plan’s equity portfolio, says CPP Investment Board president John MacNaughton. For the nine months ending December 31, 2002, the CPP’s investment income rose by $114 million, for a 0.8% rate […]

By Doug Watt |February 5, 2003

2 min read

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Bank mergers won’t hurt capital markets, says IDA boss

(February 4, 2003) Bank mergers will not have a detrimental effect on Canada’s capital markets and may actually increase competition in the financial services industry, says Joe Oliver, president of the Investment Dealers Association. In an address today in Ottawa, Oliver stopped short of endorsing mergers, noting that public interest issues still must be addressed. […]

By Doug Watt |February 4, 2003

2 min read

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PFPs now eligible to write CFP exam

(February 3, 2003) In a widely anticipated move, the Institute of Canadian Bankers has announced an agreement with the Financial Planners Standards Council relating to the Certified Financial Planner designation. The FPSC has accredited the ICB’s Personal Financial Planner program as an approved course of study for the CFP exam. The change, posted on the […]

By Doug Watt |February 3, 2003

2 min read

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Vancouver hemp retailer

(February 3, 2003) The president of a hemp clothing company is angry with mutual fund company Ethical Funds over a recent advertising campaign he says is offensive to the environmental movement. Jerry Kroll of Hemptown Clothing in Vancouver is unhappy with a series of Ethical Funds print and billboard ads showing business professionals with the […]

By Doug Watt |February 3, 2003

2 min read

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High Income Clients Facing A Retirement Income Gap?

Untitled Document Personal Retirement Account strategy can bridge the retirement income gap with the leverage of life insurance Your higher income clients know as well as you do … earning more before retirement doesn’t guarantee adequate income after retirement. Even with RRSPs and other registered plans, they’ll have reached the maximum allowable contribution limits when […]

By Staff |January 31, 2003

2 min read

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Iraq only part of the story, say international fund managers

(January 31, 2003) Not a time for general rejoicing. That’s how Don Coxe, chair and chief strategist with Harris Investment Management in Chicago, described the current U.S. investment climate during a conference call earlier this week hosted by BMO Mutual Funds. Fund managers from North America, Europe and Asia offered their views on world equity […]

By Caroline Cakebread |January 31, 2003

3 min read

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