The net inflows into ETFs versus traditional mutual funds continues to be quite large, to the point that ETF providers are not asking if but rather when will ETFs hit $100 billion in assets under management in Canada? According to Investor Economics, there are currently 104 Canadian sponsored ETFs across the five major sponsors in […]
Canada’s landscape of independent mutual fund managers has shrunk once again. Seamark Asset Management and GrowthWorks have agreed on a merger. The combination will create a mid-size firm with roughly $3 billion in assets under management. The new firm will be called Matrix Asset Management, with GrowtWorks and Seamark as subsidiary brands under the new […]
For advisors, the introduction of the tax free savings account in January has been a nice little sweetener to a pretty sour year for getting new money. The novelty of the TFSA is far from worn out, a new survey by RBC suggest clients still don’t understand what they are or how to use them […]
Advisors in the full-service brokerage are likely taking notice of the announcement of the sale of Blackmont Capital to Australian-based wealth giant Macquarie Group. It was reported early Monday, Blackmont, which is an independent full-service brokerage firm with more than 130 investment advisors across Canada, will be purchased for $CAN93.3 million. The firm will now […]
A lingering question is whether the events of the past year have forced Canadians to save more. Two studies released from different institutions have reached different conclusions. According to RBC/Ipsos poll of 1,000 Canadians, people are actually saving less than they were before. The survey found that one-third of Canadians (34%) indicate they are saving […]
Canada is a strong testament to the power of a designation, says the president of the CFA Institute, the organization that administers the global Chartered Financial Analyst (CFA) designations, where a growing number of client-facing advisors are opting for the designation and the Canadian societies are taking a direct advocacy role in this country’s capital […]
Invesco Ltd., the parent company of Canadian-based Invesco Trimark, signed a huge deal yesterday to acquire Morgan Stanley’s retail asset management business, including Van Kampen Investments. Through this transaction, Invesco acquires a diversified business with $119 billion in assets under management (AUM). The transaction is valued at $1.5 billion, including cash and stock that provides […]
It may not be as scintillating as online dating services, but Sun Life has entered the matchmaking business creating Advisor Match, a website that matches up clients with advisors based on compatibility. “Through focus groups, consumers told us that the recent recession has changed what they’re looking for from companies they deal with for financial […]
Advisors who think they’ve found a great tax-loophole in the tax-free savings account (TFSA) rules, may want to revisit their strategy. On Friday, Canada’s Minister of Finance, Jim Flaherty, proposed amendments to the Income Tax Act to bulk-up certain restrictions on the use of TFSAs. Essentially, the government would clarify certain features of the TFSA […]
The slow return of billions of parked investment dollars continued last month as long-term mutual fund mandates experienced another strong month of net sales, according to data from the Investment Funds Institute of Canada (IFIC). While overall net sales were down for the industry, the run-up in market valuations seems to help total mutual fund […]