The message from the Canada Revenue Agency (CRA) is loud and clear — and aggressive. Voluntary disclosure is easier than an audit — come clean or face the consequences. The 12th national conference of the Canadian chapter of the Society of Trust and Estate Practitioners (STEP Canada) provided the platform from which the CRA offered […]
Trying times for the mutual fund industry. Already in the post-RRSP season doldrums, fund sales were beaten down by market volatility in May. Net redemptions of mutual funds for the month of May are estimated to be between $1.0 billion and $1.5 billion, according to preliminary sales data released by IFIC. Net industry assets at […]
The vortex of volatility that characterized markets in May took a toll on mutual fund returns, according to Morningstar Canada. None of the 43 Morningstar Canada Fund Indices was spared the financial contagion, as they all posted losses owing to mounting concerns over the growing Europeans debt crisis. “Joint efforts by European finance ministers, the […]
Advisor.ca was awarded the Website of the Year at the 56th annual Kenneth R. Wilson Awards (KRW Awards) gala held last night in Toronto. Advisor.ca won the Gold for being the website that most successfully fulfilled its editorial mission, effectively served its audience, maximized use of the Internet and represents the highest journalistic standards. “Your […]
For most MGAs, the margins are too thin to afford additional value-added services, and it’s forcing agents to sell lower-commission products, according to industry experts who spoke at our 2010 Distributors’ Summit in Niagara-on-the-Lake. One discussion, entitled “Past, Present and Future,” explored historical trends and factors that have shaped the current state of insurance distribution […]
The Bank of Canada (BOC) interest rate hike is inspiring a bullish outlook among industry experts, who consider it a sign that Canadian economy is on solid footing. There does, however, seem to be some concern over uncertainty of future action. “A modest interest rate hike may be viewed as bullish from the equity market,” […]
With the Ontario harmonized sales tax (HST) set to take a bite out of almost all Canadian mutual funds, The Investor Education Fund has launched a new online calculator to help Canadians determine the impact of the increase in mutual fund fees. The calculator shows investors how fees and other costs can affect the return […]
Canada leads the pack of the magnificent G-7 riding high a robust financial system, low debt and immigration, according to a new report CIBC World Markets Inc. The report says strong commodity demand, comparatively low government and corporate debt along with a multi-cultural society spell Canada’s economic prospects will outshine those of the G-7 nations […]
It’s a classic conundrum. Advice is nice, but are advisors’ intentions noble? While the majority of high net worth (HNW) clients are satisfied with advisory services, there remains a small segment that’s skeptical about where advisors’ interests and priorities lie, according to a survey conducted by BlackRock Asset management Canada Limited. The High Net-Worth Investors […]
Blog Polls The news of Finance Minister Jim Flaherty’s proposed plan for a national securities regulator has received a warm welcome by the financial industry. Members of the industry are certain that, when passed, the national watchdog will bring in cost effectiveness, improved governance and improved investor confidence. “I’m quite pleased with a number of […]