By the age of 63 most Canadians have pulled in their shingle and pulled out their armchairs, but as many as one-fifth of Canadians with private pension plans are drawing benefits in their 50s, according to a recent Statistics Canada report.
Fed up with high fees and limited competition, Canada’s biggest banks and major investment dealers have announced their intention to establish a new alternative trading system that will compete head to head with the TSX. The new trading system, which is currently dubbed Project Alpha, is being headed up by Jos Schmitt, who was senior […]
Say goodbye to the 80-plus page “simplified” prospectus for investment products, It’s about to get a lot shorter. In keeping with the Ontario Securities Commission push for plain-speak, the commission is working with security and insurance regulators to examine ways of simplifying the disclosure documents given to investors. In a speech to the Economic Club […]
The older your clients get, the better they are able to determine when they can retire — or so one might expect. For most, that logic holds true, but a sizable segment in the U.S. still has no idea when or how they will retire. According to a survey conducted by Forrester Research, only those […]
Advisors might not be comfortable discussing religion with clients, but when that religion dictates how those clients invest, it’s not something that can be ignored. Yet that’s precisely what’s happening, and it could be preventing as many as 600,000 Canadians from seeking financial advice. While every religion has its own set of values that must […]
Despite dire warnings in the headlines of the end of defined benefit plans in the U.S., a recent survey by Pyramis Global Advisors, the institutional money management arm of Fidelity Investments, finds rumours of their demise to be a bit premature. Most U.S. plan sponsors say they are committed to keeping their plans open to […]
Three of Canada’s seven largest banks have received failing grades for their websites, which for many consumers, have become their main point of contact with the financial institutions, according to Forrester Research. National Bank of Canada, Desjardins and the Bank of Montreal all failed to meet the minimum standards of the study, while Scotiabank eked […]
Anyone who thought the first annual Lipper Fund Awards for Canada would simply be a repeat of the Canadian Investment Awards handed out less than four months ago was woefully mistaken. With 30 trophies up for grabs, only five funds won top fund in their category in both events. At the inaugural event hosted by […]
Canadian retail brokers lack the proficiency of their American counterparts, and clients have less access to risk-management products as a result. Fewer than one in 10 retail brokers in Canada are licensed to sell options, whereas in the U.S., the license is considered standard, said Luc Bertrand, president and CEO of the Montreal Exchange, on […]
A report released by Merrill Lynch this week suggests global fund managers are exhibiting a “heightened aversion to risk,” most likely resulting from the precipitous market sell-off in the dying days of February. But do Canadian managers agree? The study highlights some of the key changes in response to some of the increased volatility evident […]