The federal government started off this fiscal year with an unprecedented $3.6 billion deficit for the month of March. Compare that to a deficit of $1.2 billion in March 2008, and a surplus of $11.4 billion reported in the period of 2007-08. The deficit shows, in ample measure, the crippling impact of an economy in […]
Even though the country is still officially in recession, Finance Minister Jim Flaherty agreed today the economy is “showing some good signs.” Those good signs are reflected mostly in the bullish sentiment returning to the commodities market with base metals and crude oil lifting off lows reached in December. Patricia Mohr, vice-president, economics, and commodity […]
Long-term funds packed a punch in April. Assets rose to $443.2 billion from $422.5 billion at the end of March, according to preliminary sales data from the Investment Funds Institute of Canada (IFIC). The bullish sentiment, however, was once again more due to market affect, than new inflows. Of the $20.7 billion month-over-month increase in […]
Despite the recession and a dwindling eagerness among advisors to retire, Darren Miles, chartered business valuator, president and founder of Fair Market Value Inc., says there are currently more buyers than sellers in the market to buy advisory practices. For both sides of a book sale, he says there is more to consider than just […]
An inaugural event for female financial advisors, “Investing in You,” organized by the Advisor Group, reinforced the importance of women to the financial industry at a time when the very essence of their womanhood — empathy — is the new market mantra for attracting and retaining clients. The keynote panel focused on how successful women […]
When Kristine Douglas, a CFP with Investment Planning Counsel, first started her career in 2000, she had to contend with a ruthless market meltdown. So when her fi rst child was born two years later she didn’t have the luxury of a maternity leave. She was back at work three days later—her recession-ravaged clients needed […]
It’s never wise to carry all your eggs in one basket. The Canadian Retirement Income Security System seems to have grasped this truth and armed Canadians with an assortment of private and public pensions. At a recent seminar held in Geneva by the International Social Security Association (ISSA) — in conjunction with the Social Security […]
To most clients, investment policy statements (IPS) might mean just another set of legalese they need to put their signature on, but to portfolio managers these are critical documents that could make or mar their careers if a disgruntled client took them to court. “People only look at contracts at two times: once at the […]
Gold seemed to be the only bright spot amidst the market carnage that continued into the first quarter of 2009. According to preliminary performance data released by Morningstar Canada, the year started on an especially bleak note for investment funds that target non-Canadian equities, as the Morningstar Canada Fund Indices that track these funds posted […]
The Canadian life and health insurance industry welcomed the broad-ranging fiscal stimulus measures set out in the Economic Action Plan announced by Finance Minister Jim Flaherty. “The industry is supportive of initiatives to promote financial stability and maintain efficient and well-functioning markets, as well as the tax relief provided to Canadian consumers,” said Frank Swedlove, […]