Industry News

Advisors will evolve beyond mutual funds

Some industry observers believe many advisors are too reliant on mutual funds but expect that to change as clients needs evolve. It’s already changed among high-end advisors. High-level and top producers are the ones who are most likely to be lobbying for the ability to sell insurance and securities outside of the mutual fund arena. […]

By Kate McCaffery |September 27, 2007

5 min read

Portus founders charged with fraud

After a 27-month investigation, charges have finally been laid against the co-founders of Portus Alternative Asset Management, Boaz Manor and Michael Mendelson. Each has been charged with 12 counts of fraud over $5,000, money laundering and possession of property obtained by crime. Manor has been charged with one extra count of fraud of $5,000, two […]

By Bryan Borzykowski |September 26, 2007

2 min read

Briefly:

(September 26, 2007) The head of the Canadian Bankers Association challenged Finance Minister Jim Flaherty to take immediate action in establishing a single securities regulator on Wednesday. “We’ve had enough panels,” stated Nancy Hughes Anthony, chief executive officer for the CBA during an Economic Club of Toronto speech to Bay Street’s elite. “We’ve had a […]

By Staff |September 26, 2007

5 min read

CI revises its bid for DundeeWealth

CI Financial Income Fund has tweaked its hostile takeover bid of DundeeWealth. The company now says DundeeWealth can keep its agreement with Scotiabank. CI will still offer 0.75 of a CI Financial share for each share of DundeeWealth. This works out to be the equivalent of $20.25 for each DundeeWealth share, a 52% premium on […]

By Mark Noble |September 26, 2007

2 min read