Within wealth management, retail net inflows dropped 80%
Wealth management and individual insurance sales dropped at iA Financial
A large drop in imports was led by reductions in pharmaceuticals
Both the Competition Bureau and OSFI are reviewing the transaction, which requires approval from the finance minister
In another measure aimed at vulnerable Canadians, the CRA will pilot automatic tax filing in 2024
The province is also increasing the maximum age for applying for a retirement pension to 72 from 70
Net income for wealth management was down 12% from a year ago
Net income for global wealth management was down 7% from the previous year
Canadian wealth management revenue dropped 4.6%, and AUM was down 3.9%
AUM dropped 5.9%, net outflows in retail wealth management were $1.6 billion year over year