Industry News

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BMO bolsters presence in wealth market

(July 14, 2004) One of Canada’s biggest banks is bolstering its presence in the financial advice industry, launching a new in-branch practice aimed offering a suite of services to high net worth clients. “We believe high net worth individuals can benefit from having an individual take a central role in helping them to coordinate all […]

By Steven Lamb |July 14, 2004

3 min read

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Briefly:

(July 16, 2004) Jovian Capital — the parent company of Rice Financial and T.E. Financial — has closed a deal to acquire Leon Frazer & Associates, one of the country’s oldest investment firms. Jovian’s subsidiary, Jovian Asset Management, purchased 76% of Leon Frazer’s outstanding common shares. The initial cash consideration for the acquisition is approximately […]

By Staff |July 13, 2004

3 min read

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Canadians back in the market, study finds

(July 13, 2004) Canadian investors are back in the markets, returning to a record high percentage who own equities, according to the latest TSX Group Shareowners Study. “We have a strong equity culture in Canada,” said Barbara Stymiest, CEO of the TSX Group. “Canadians are informed investors who provide a strong base for our capital […]

By Steven Lamb |July 13, 2004

2 min read

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Costello loses court appeal

(July 13, 2004) Former financial guru Brian Costello, who was reprimanded and fined by the Ontario Securities Commission last year, has lost a court appeal of his case. Costello, a popular media commentator and seminar presenter, had argued that the OSC made a mistake when it ruled he provided financial advice without being registered and […]

By Doug Watt |July 13, 2004

2 min read

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Positive news buoys business confidence

(July 12, 2004) Canadian businesses are more optimistic about the economy than they were in the spring, according to the Bank of Canada’s Business Outlook Survey, with that optimism based on improvements in the overall global economy. “Businesses remain generally optimistic about future sales volumes,” the bank said in its report. “This outlook is based […]

By Steven Lamb |July 12, 2004

2 min read

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Can you spot the COI? Advisor’s Edge can help

(July 12, 2004) Would you know a centre of influence (COI) if you saw one? While many financial advisors are accustomed to finding new prospects through lawyers and accountants, but the list of potential COIs goes far beyond the traditional professional base. That’s the focus of the cover story in July’s Advisor’s Edge magazine. “Rather […]

By Steven Lamb |July 12, 2004

2 min read

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Minority government need not stall regulatory reform, says TSX boss

(July 12, 2004) Skeptics believe the Liberal party’s current minority position in Ottawa means a freeze on efforts to reform the country’s fragmented securities regulation system. But TSX president Barbara Stymiest is keeping up the pressure, urging Ottawa to keep its commitment to work toward a single regulator. “This is a matter, not of politics, […]

By Doug Watt |July 12, 2004

2 min read

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Bank of Canada in no rush to match Fed

(July 9, 2004) Despite the recent change of direction at the U.S. Federal Reserve, the Bank of Canada is not likely to follow suit and raise interest rates until its autumn meeting, according to economists at CIBC World Markets. “Governor Dodge has good reason to drag his feet for a while before dancing to the […]

By Steven Lamb |July 9, 2004

2 min read

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Housing market ripe for one final push, advisor predicts

(July 9, 2004) Despite predictions of a bubble, Canada’s housing market remained strong in June and one advisor believes there’s room for even more growth before the inevitable slowdown. The seasonally adjusted annual rate of housing starts was 239,300 in June, according to the Canada Mortgage and Housing Corporation (CMHC), about the same as the […]

By Doug Watt |July 9, 2004

2 min read

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Investors mirror pollsters in election futures market

(July 8, 2004) Pollsters weren’t the only ones caught by surprise when the Liberal party won a larger than expected minority in last month’s federal election. The Shorcan Index Election Indicator — a futures market based on the popular vote percentage — also suggested a much tighter race. The Shorcan Index allowed accredited investors to […]

By Doug Watt |July 8, 2004

2 min read

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