Industry News

Briefly:

(February 5, 2004) The worldwide value of mutual fund assets hit $12.83 trillion US by the end of the third quarter of 2003, marking a 4% increase during that quarter, according to a report from the Investment Company Institute. The increase was due to both the ongoing recovery in equity markets and an increase of […]

By Staff |February 3, 2004

6 min read

Insurance regulator looks at relaxing rules on referral fees

(February 3, 2004) The Canadian Council of Insurance Regulators (CCIR) is considering amending the rules on referral arrangements to permit commission splitting on a wider scale. Referral fees between licensed insurance agents are not prohibited. However, the issue gets complicated when a person who is not insurance-licensed makes the referral. In that instance, a flat […]

By Doug Watt |February 3, 2004

2 min read

Millionaires willing to switch advisors, survey suggests

(February 2, 2004) Advisors serving Canada’s high net worth (HNW) market must maintain a positive relationship with their clients or risk losing them, a new survey suggests. A Stenner Group poll released today reveals that 44% of millionaires surveyed have changed their primary advisor in the past five years. Investment performance was the main reason […]

By Doug Watt |February 2, 2004

2 min read

IFIC slams

(February 2, 2004) The head of IFIC is calling on the Canada Deposit Insurance Corporation (CDIC) to stop its ad campaign, which he calls critical of the mutual funds industry. “We request that CDIC stop the targeting of mutual funds in its advertising,” read a letter to the CDIC from Tom Hockin, IFIC president and […]

By Steven Lamb |February 2, 2004

3 min read