When is a bond fund, not a bond fund? For that matter when is an American fund, no-longer just an American fund? These are just some of the questions advisors and investors will have to grapple with Morningstar Canada rolls out its fund categories competing against those set by the Canadian Investment Funds Standards Committee. […]
Telus’s recent decision to convert its $10 billion-plus operation to an income trust has reopened debate about the stability of the trust sector. Experts hope the company’s award-winning corporate accounting practices will make it the poster child for other trusts. At the same time, there are fears that it will take a major disaster before […]
Securities industry operating profits hit a new high of $2.9 billion during the first half of 2006, up 43% over the same period last year. The Investment Industry Association of Canada is predicting that profits for the second half of the year could be even stronger. This robust forecast comes despite a 20% drop in […]
The balance between a public mutual-fund company’s commitment to investors in its funds and those who have bought into the company is a tenuous one. Saxon Financial has experienced this first-hand since going public in July 2005. Since then, its commitment to building its business towards the advisor channel has been as steadfast as its […]
In 1967 there were two things that could be said about married women: If they were employed, they were likely earning less than their husbands; and they were more likely to ask for directions. While today’s husbands may still prefer to drive in circles, society has made some progress on the economic issue. According to […]
“That’s a wrap.” It sounds like an everyday statement, but those words had double meaning for the Australia division of Credit Suisse in July, when it waved the white flag above its two-year-old wrap program that failed to gain scale. This failure has some experts speculating about what this will mean for other new entrants […]
By now most advisors have heard horror stories of people not planning for retirement, but how scary is it? Actually, it’s downright terrifying. According to a recent study by Forrester Research, four out of every 10 baby boomers in the U.S. between the ages of 41 and 50 have not started any financial planning for […]
Seamark Asset Management has undergone a major shake-up of its executive team, with a series of new appointments, several job cuts and the sudden resignation of one of its vice-presidents. The changes come less than six months after ClaringtonFunds shifted the bulk of their fund management away from Seamark to Industrial Alliance. In 2005, ClairingtonFunds […]
Canadian insurance agents and brokers can now work anywhere in the country. In June, the Canadian Council of Insurance Regulators and the Canadian Insurance Services Regulatory Organization approved a reciprocal licensing system, similar to the passport model talked about in the securities industry. The reliance model, which quietly came into effect on July 4, will […]
It’s been seven years since the Canadian Securities Administrators retained Stephen Erlichman, a partner at law firm Fasken Martineau, to pen a report on mutual fund governance. The result of that report — National Instrument 81-107 — is finally ready to be adopted. While over the years Erlichman’s recommendations have lost some of its teeth, […]