The rich really are getting richer, but the poor are also falling further behind. That’s the finding from the latest Statistics Canada study on the inequality of wealth between 1984 and 2005. Between 1984 and 1999, the real (adjusted for inflation) wealth of Canadians grew approximately 10%. It grew even faster in the years that […]
When Jean Chrétien was asked by reporters on the floor of last week’s Liberal convention about the motion to declare the Quebecois a nation, he replied, “I’m for clarity, and I love clarity.” Canada’s SROs feel the same way about compliance. Last week, the staff of Market Regulation Services, the Mutual Fund Dealers Association of […]
The government of Canada has announced the changes it plans to make to the Bank Act as part of the now overdue five-year review of the legislation. The review’s deadline, originally the end of October, was extended to April 24, 2007, in order to give the House enough time to consider the proposed changes. Those […]
(November 2006) Cecilia Mo is as soft spoken as they come. In front of a packed audience of advisors attending the final leg of Fidelity Investments’ latest road show last week, she sat uneasily on stage with both hands tightly gripped around a microphone as she shared her views on income trusts. While she is […]
According to Peter Drake, the vice-president of retirement and economic research at Fidelity Investments, there are five key risks to retirement income: longevity, asset allocation, inflation, excess withdrawal and health-care spending. It’s up to advisors to help their clients cope with these challenges to ensure they have income to last them through their retirement. If […]
Affluent clients with less than $2.5 million US in assets are more likely to shop around for investment firms and financial advisors than richer clients are, a new Forrester Research study has found. The frugality of consumers diminishes with wealth — up to a point. The more money consumers amass, the more likely they are […]
Have you ever heard of Russell Bailyn? Do a quick search online and you’ll quickly hit upon his young smiling face and all of his thoughts on everything from real estate to professional designations. Bailyn is a wealth manager with Premier Financial Advisors, an independent asset management and advisory firm in New York City — […]
The consumer price index is a measure of a basket of goods. It looks at things like beer, food and housing, but how appropriate is that measure when your clients retire and their main expenses shift to golf memberships, home care and home renovations? In 2005, the U.S. Congress introduced a bill to establish a […]
For the first time in six years, Canada’s main exchange is about to get some competition. On January 19th, Pure Trading, the new exchange operated by CNQ, will launch its continuous auction market. Pure Trading describes itself as the first alternative visible auction market for securities in Canada. Unlike TriAct Canada Marketplace or Liquidnet, which […]
Income trusts, hedge funds and enforcement are just a few of the pressing issues in the securities industry regulators need to tackle, says the chair of the Ontario Securities Commission. David Wilson spoke Friday at the annual Dialogue with the OSC in Toronto. First, the OSC chair talked about Ottawa’s surprise decision to revise the […]