Industry News

Briefly: “Canadians still spending: StatsCan” and more news

The constant barrage of gloom hasn’t deterred Canadian consumers from emptying their wallets; Statistics Canada reports that retail sales grew during the month of January. According to StatsCan, retail sales rose 1.9% in January, to $33.7 billion. Granted, the jump comes after the worst Christmas shopping season in 15 years, after sales declined 5.2% in […]

By Staff |March 20, 2009

3 min read

Tax harmonization not just “Ontario’s problem”

If the government of Ontario implements a harmonized sales tax in its next budget, expect the costs of mutual funds, ETFs and — most dramatically — segregated funds to rise substantially across Canada. Some in the industry have brushed off an added sales tax as an Ontario problem of little financial consequence to the end […]

By Mark Noble |March 19, 2009

4 min read

Ratings agency turns negative on insurers

The outlook for the Canadian insurance industry has taken another hit, as the entire sector was downgraded by U.S. financial service ratings agency, A.M. Best. The agency has revised its outlook on the Canadian life insurance sector from “stable” to “negative.” “While nearly all life insurers in Canada have been negatively impacted in some way […]

By Steven Lamb |March 19, 2009

2 min read

Briefly: “Asset mix key to protecting retirement income” and more news

For investors with a strong constitution, the current market malaise may very well represent some “good buying opportunities,” as described by Prime Minister Harper. For Canadians planning to retire within the next few years, the situation holds far less promise. However, new research suggests that a few changes to one’s portfolio mix can protect against […]

By Staff |March 19, 2009

3 min read