Industry News

Giving takes a backseat in recession

He who wishes to secure the good of others has already secured his own, the saying goes. By that token, North Americans may not be feeling particularly secure. Allocations to philanthropic activities by high-net worth individuals’ (HNWI) increased in all regions except North America in 2009, according to the latest Capgemini/Merrill Lynch World Wealth Report […]

By Vikram Barhat |July 16, 2010

4 min read

Briefly:

Financial planners in Hungary, Russia and, soon, Bulgaria, are now able to use Canadian-made planning software from PlanPlus. The expansion into Eastern Europe comes on the heels of tighter compliance standards in the region. “We were able to translate the software and work with PlanPlus to ensure the asset allocation, taxes and other rules for […]

By Staff |July 16, 2010

3 min read

CIFSC announces fund category changes

Modifications are coming to the fund category schema courtesy of the Canadian Investment Funds Standards Committee (CIFSC). The first major change is that the International Equity fund category definition is shifting and will require funds to invest at least 90% of their equity assets in countries other than Canada and the United States. That’s down […]

By John Powell |July 15, 2010

2 min read

Global HNW clients suspicious of advisors

Despite the occasional trickle of positive economic data and hints the global economy is on the mend, Merrill Lynch Wealth Management’s World Wealth Report 2010 suggests trust remains an issue for high net worth individuals (HNWI) — on all levels. According to the survey, only 59% of HNWIs have regained trust in their advisors, and […]

By Nancy Turner |July 15, 2010

3 min read