Industry News

Canada one of the top producers of millionaires, report says

(June 12, 2003) There is good news for advisors seeking to expand their high net worth practice, as Cap Gemini Ernst &Young and Merrill Lynch released details of their World Wealth Report. The number of high net worth (HNW) individuals in Canada rose last year, swelling the ranks of “The Millionaire’s Club” by 15,000 to […]

By Steven Lamb |June 12, 2003

3 min read

Industry

MER report valid, but take a closer look at the numbers, analyst says

(June 12, 2003) A controversial report from Morningstar Canada analyzing rising management expense ratios (MERs) in the mutual fund industry is fair, one industry analyst has concluded. However, the increase in MERs is perhaps not as dramatic as it first appears, says Dan Hallett, senior investment analyst at Sterling Mutuals. The report, released earlier this […]

By Doug Watt |June 12, 2003

2 min read

Industry

Advocis conference update: Maritime Life chief reminds advisors true value is in client relationships

Describe scenarios instead of making predictions; Remember their true value is in providing outcomes, not illustrations; and Keep in close contact with clients. During his freewheeling and entertaining presentation, Black also touched on bank mergers (he’s against them, saying they don’t serve the customer’s best interests), insurance company consolidation (he thinks the industry is nearing […]

By John Craig |June 12, 2003

3 min read

Industry

Employers forced to cough up more as pension assets decline

(June 11, 2003) Registered pension plans (RPPs) lost nearly $4 billion last year as stock prices declined, forcing employers to significantly increase their contributions, Statistics Canada reported today RPPs had revenues of $13.7 billion and expenses of $15.3 billion in the fourth quarter of 2002, resulting in a $1.6 billion loss. For the year, the […]

By Doug Watt |June 11, 2003

2 min read