Industry News

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Fab February for funds

(March 2, 2004) After a weak RRSP season last year, Canada’s mutual fund industry has returned to its traditionally strong February showing. Net sales are expected to be around $5 billion, IFIC says in its monthly preliminary estimate, more than 10 times higher than February 2003. Combined with January’s $1.8 billion, total sales for this […]

By Doug Watt |March 2, 2004

2 min read

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Briefly:

(March 5, 2004) Standard Life Mutual Funds is reiterating its decision to close only the deferred sales charge option of its Natural Resource, Global Science and Technology, and Global Balanced RSP funds, which were closed to new purchases on March 2, 2004. These funds will be terminated completely on or about May 21, 2004. • […]

By Staff |March 1, 2004

8 min read

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Aging society opposes mandatory retirement, survey says

(March 1, 2004) A growing number of Canadians say they don’t want to be told when they have to retire, according to poll results released today by Investors Group. “An increasing number of Canadians are choosing a retirement lifestyle that includes some form of employment or work,” said Debbie Ammeter, vice-president of advanced financial planning […]

By Steven Lamb |March 1, 2004

2 min read

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Broadcast news: Planners participate in radio campaign

(March 1, 2004) Breaking with tradition, the Financial Planners Standards Council (FPSC) decided to promote the CFP designation during the advertising-heavy RRSP season. More than 30 financial planners appeared on radio call-in shows in Vancouver, Ottawa and Toronto over the past eight weekends. The air time was paid for by the FPSC. The not-for-profit organization […]

By Doug Watt |March 1, 2004

3 min read

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A firm voice speaks out in the latest issue of Advisor’s Edge

(February 27, 2004) Have you ever wanted to corner the head of a mutual fund company and grill him on the future of the industry? In the mid-February issue of Advisor’s Edge, editor Darin Diehl had a chance to do just that with William Holland, president and CEO of CI Funds — getting Holland’s thoughts […]

By Steven Lamb |February 27, 2004

2 min read

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Advisors cringe at the term

(February 27, 2004) The 2004 RRSP season is winding down, with the March 1 deadline for a 2003 contribution arriving on Monday. But should the term “RRSP season” really be in an advisor’s vocabulary? In researching our annual coverage of the “last-minute contribution season,” Advisor.ca found hostility among some advisors toward the very use of […]

By Steven Lamb |February 27, 2004

3 min read

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Advisors react to IPC takeover

(February 26, 2004) Yesterday’s announcement that Investors Group (IG) is acquiring IPC Financial Network brought mixed reaction from advisors. With IG’s deep pockets, some see it as a guarantee of IPC’s future success, but others worry that IPC is too small to maintain its identity, let alone its independent culture. “I don’t have a concern […]

By Steven Lamb |February 26, 2004

3 min read

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Advisors urge caution as CMHC eases rules for home buyers

(February 26, 2004) A move by the Canada Mortgage and Housing Corporation (CMHC) to scrap minimum down payment requirements might appear to be an attractive option for prospective home buyers. But it’s probably not a wise move for most clients, advisors say. “This idea that people who have absolutely no savings discipline whatsoever can actually […]

By Doug Watt |February 26, 2004

3 min read

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Investors Group acquires IPC

(February 25, 2004) Winnipeg-based mutual fund giant Investors Group (IG) is expanding its presence in the financial planning channel. Today it announced plans to acquire IPC Financial Network in a friendly takeover bid valued at close to $100 million. IG says it will purchase all IPC common shares at a price of $1.95. IPC shares […]

By Doug Watt |February 25, 2004

3 min read

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Regulators moving on advisor registration

(February 24, 2004) Although publicly focusing on larger regulatory initiatives — such as uniform securities legislation (USL) — the Canadian Securities Administrators (CSA) is quietly working on a couple of smaller projects that will have a direct impact on advisors. “We have some interesting spinoffs from the USL project,” said CSA chair Stephen Sibold yesterday […]

By Doug Watt |February 24, 2004

2 min read

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