Mackenzie Financial Corp. is defending its handling of the “undisclosed departure” of George Morgan, who ran Mackenzie Cundill American Class. A statement obtained by Advisor.ca from Mackenzie confirms the company and Morgan have indeed parted ways. The disclosure comes on the heels of media reports that Morgan “quietly slipped away at the end of December […]
The mutual funds sector is not pleased at all about the newly proposed compliance obligations and their competitive impact on mutual funds. The sector argues funds will be subjected to product arbitrage and hence will be disadvantaged compared with rival products sold under a simpler, less burdensome compliance regime. “Are we really saying this product […]
Discontent with the new point of sale (POS) disclosure regime, proposed by the Canadian Securities Administrators, has become a little more strident. Experts at the Strategy Institute’s recent Mutual Fund Point of Sale Conference expressed more than a hint of disapproval of compliance obligations that require proof that delivery took place within the requirements of […]
As the loonie continues its waltz with the greenback, investors may be tempted to jump into U.S. markets in the hope of making a double whammy of returns, should the loonie slump back to 80 cents. Advisors, however, are quick to warn against such a move, saying it could be unwise, premature and a departure […]
There are a slew of fresh changes coming to the insider reporting and early warning regime, including acceleration of filing deadline, extending the concept of deemed beneficial ownership and reporting for derivatives. The final version of National Instrument 55-104 Insider Reporting Requirements and Exemptions (NI 55-104) comes into effect on April 30, 2010. At a […]
A new U.S.-based site promising to build an exclusive networking lounge for the global community of financial advisors has a rocky foundation, according to financial experts on both sides of the border. Craftily named linkedFA — although it has no connection with the popular professional networking site LinkedIn — its creators claim it is “the […]
Participants: Keith Pangretitsch, CFA, Director, National Sales, Russell Investments Scott Robertson, President, Tasman Financial Services, Ottawa Scott Robertson: My basic retirement strategy is customized to individual client needs—whether it is cash management or proper investment strategy—based on an in-depth analysis of each client. Usually it’s a combination of both. I deal with 60 clients across […]
Rising interest rates are expected to have little impact on the asset allocation of portfolio managers. “The slow pace of Canada’s economic recovery means interest rate are not likely to dramatically increase, which means it will not drastically affect how we position our portfolios,” says Stephen Lingard, vice-president, director of research, Franklin Templeton Managed Investment […]
Investors are an awfully smart bunch…just ask them. You’d have a hard time finding one that would say they are below average. Expectations of personal success are generally far higher than probability actually warrant, says Michael S. Falk, CFA, vice-president and chief investment officer, ProManage, a U.S.-based financial services firm. The objective of the presentation […]
The global economic landscape will change significantly in the next 10 years and major emerging markets will account for over 55% of global output by 2020, says Paul Jenkins, senior deputy governor of the Bank of Canada. He was speaking at a forum titled “Beyond Recovery: Sustaining Economic Growth”, organised by the Economic Club of […]