Industry

Weaker profits plague securities industry for second straight year

(March 25, 2003) Proceeds from the Toronto Stock Exchange’s initial public offering helped the Canadian securities industry post a profitable final quarter of 2002. But excluding that one-time gain, profits sank for the second straight year, the Investment Dealers Association said today in its latest securities industry performance report. “The securities industry remained in the […]

By Doug Watt |March 28, 2003

2 min read

Industry

Improve relationships or risk losing wealthy clients, advisors warned

(March 25, 2003) The love affair between advisors and high net worth (HNW) clients is ending, according to one speaker at the 83rd annual Ontario Sales Congress of the Peel Institute of Applied Finance in Toronto. But there are opportunities for advisors to build a fence around their affluent clients by developing true partnerships and […]

By Jennifer McLaughlin |March 28, 2003

3 min read

Industry

Great-West set to increase share of segregated fund market

(March 26, 2003) Great-West Life’s proposed acquisition of Canada Life would strengthen the Winnipeg-based insurer’s already dominant position in the country’s segregated fund marketplace, according to a report by research firm Investor Economics. Great-West Life (GWL) is Canada’s seg fund market leader, with $10 billion in assets under management as of December 31, 2002. Adding […]

By Doug Watt |March 28, 2003

2 min read

Industry

Ottawa hikes Old Age Security pension rates

(March 27, 2003) Canada’s seniors will see a slight increase in their government pensions next month. The federal government announced yesterday that Old Age Security benefits will rise 0.6% on April 1, bringing the basic OAS monthly pension to $456.08. Human Resources Development Canada adjusts OAS rates for inflation every three months. The change is […]

By Doug Watt |March 28, 2003

1 min read