“We have made progress in some areas but we still have work to do.” That’s the latest self-assessment by the Ontario Securities Commission, from a follow-up report more than a year after it hosted a Town Hall to gauge investor opinion. Based on the feedback from that meeting in May 2005, which included the IDA, […]
Many advisors who work on commission likely haven’t thought of rolling exchange-traded funds into their clients’ portfolios. After all, why sell a product you don’t get paid for? But these structures are changing. As proof, look no further than Claymore Investments, set to introduce advisor-friendly ETFs. In August, seven new Claymore-run ETFs will start trading […]
Although fund researcher Morningstar withdrew from the Canadian Investment Funds Standards Committee in February, citing its dysfunctional nature, it seems the split between the two organizations could still be reconciled. Both sides continue to talk, at least informally. And recently, at the behest of Morningstar president Scott Mackenzie, the two sides agreed to sit down […]
On the surface, a press release issued jointly by the Canadian Investment Funds Standards Committee and Lipper on July 5th that detailed a partnership to better decode the Canadian mutual fund industry seemed simple enough, but on closer inspection it’s clear the partnership is being used by one of the largest fund rating companies in […]
(July 2006) Mike Taylor sees himself as the default guy. Others say he is the alternative solution provider. Call him what you will, but the next time you have a client in a strange insurance predicament you might want to remember his number. Taylor, brokerage manager at Hunter McCorquodale Inc., specializes in “uninsurable” clients or […]
About 5,600 investors who were stung by Norbourg will receive $31.7 million, according to the court appointed receiver, Ernst & Young. The move will help more than half of the estimated 9,200 investors — mostly Quebec residents — who lost their savings to the Norbourg group of companies, which included the Evolution fund family. According […]
Do you have a client leasing a car, looking for a new home, or buying a cup of coffee? Then you know someone who will be impacted by the GST cut that comes into effect this Saturday. Just don’t be fooled into thinking that the cut will impact each of those purchases in the same […]
Investors weren’t the only ones looking for answers at first meeting of creditors of Portus Alternative Asset Management. Advisors, many themselves investors, feel hung-out to dry in the whole affair. For many, the meeting on Wednesday was their first opportunity to get some information, but many left frustrated by the lack of answers receiver KPMG […]
In 2005 Canada was one of the world’s top performing markets with a return of 26%, but it seems few Canadians struck it rich in that bull run — at least when compared to other countries. According to the 10th annual World Wealth Report produced by Capgemini and Merrill Lynch, Canada turned out 15,000 new […]
Investors who pumped hundreds of millions of dollars into defunct hedge fund Portus Alternative Asset Management still have no idea as to when they might recover at least some of their funds. Many of those who gathered at a special investors meeting held Wednesday in Toronto at the Ricoh Coliseum were hoping to find out […]