“Chalk it up to tuition at the school of experience.” That’s the way one Portus investor feels upon hearing news that she might get back up to 85.8% of her investment in the defunct hedge fund. On Sunday, KPMG released its latest preliminary report on the bankruptcy of Portus Alternative Asset Management, which paints the […]
There’s a saying that it’s better to be boldly decisive and risk being wrong than to agonize at length and be right too late. That may be true, but according to renowned economist and demographic guru David Foot, investors would be wise to wait until their late 50s before they maximize their risk. In a […]
If you want to sell an RESP, who do you approach? To many this seems like a dumb question, but the answer is anything but obvious. And it is one question insurance brokers might want to ask themselves if they want to grow their business in the underserved middle market. If you’re looking for a […]
Just a few months after Morningstar Canada left the Canadian Investment Funds Standards Committee, citing concerns about the body’s slow pace to change, the committee has completely revamped its fund categories. Starting July 3, investors and advisors will have access to 38 revamped categories, up from 34. Aside from redefining existing categories, CIFSC is also […]
Without so much as a press release, the investment industry has started the unprecedented step of returning referral fees to clients who bought into Portus Alternative Asset Management. But at least one firm has missed the deadline. As part of a deal struck earlier this year between the Ontario Securities Commission, the Investment Dealers Association […]
Federal Finance Minister Jim Flaherty has reiterated his commitment to create a national securities regulator and says he is considering a national review of the tax system. Flaherty’s comments came in response to questions following a speech delivered to the Toronto Board of Trade on Monday morning, which largely focused on the simmering issue of […]
As phone and online banking, as well as ATMs, increasingly allows customers to bypass the traditional retail bank branch, how will the retail banks grow their business when their most important customers refuse to walk through the door? According to the 2006 World Retail Banking Report by Capgemini, banks need to design a more sustainable […]
Morningstar Canada has released the first draft of proposed new categories for mutual funds, just days before the Canadian Investment Funds Standard Committee prepares to overhaul its system. Morningstar left the CIFSC in March, saying the committee was moving too slowly on fundamental questions such as breaking down major fund categories into subsets. CIFSC’s revised […]
If you think retail banks are impersonal now, just wait. According to the 2006 World Retail Banking Report by Capgemini, banks plan to leverage their various channels to better reach clients, largely at the expense of the one-on-one experience, at least for those at the lower end of the income ladder. And clients apparently prefer […]
Tried calling the IDA lately? Since the announcement of the proposed merger between Market Regulation Services (RS) and the Investment Dealers Association, the brokerage industry regulator’s name change and the re-branding of the spun-off trade association have been put on hold. Let’s imagine the calls they could get: Caller: Hello, is this the IDA? IDA: […]