Industry News

Advocis calls for action on advisor incorporation

(March 8, 2004) Advocis says the Ontario government should give “immediate priority” to amending the Securities Act to allow incorporated securities salespersons. The recommendation comes in Advocis’s pre-budget submission, sent last week to the province’s finance minister. Advocis says at least 70% of its members are licensed for both insurance and mutual funds or other […]

By Doug Watt |March 8, 2004

2 min read

Brokers enjoyed solid gains in 2003

(March 8, 2004) Canada’s securities industry was firing on all cylinders in 2003, says the IDA, with operating profits rising 21% from the previous year to $3.3 billion. “The year marked a dramatic turnaround in industry fortunes following a 23% earnings drop in the previous two years,” the IDA said in its quarterly securities industry […]

By Doug Watt |March 8, 2004

2 min read

A look back at the 2004

(March 8, 2004) Evidence is mounting that the first two months of 2004 have been strong for the investment community, as the traditional last-minute rush to invest in RRSPs came to a close last week. Net new mutual fund sales for February alone are estimated at about $5 billion — 10 times that of February […]

By Steven Lamb |March 8, 2004

3 min read

Court rules on interest deductibility

(March 5, 2004) The Supreme Court of Canada has ruled on the much-talked about case of Gifford v. Canada — the income tax appeal of a financial advisor who wrote off the interest on a loan used to buy a colleague’s book. “The agreement to pay $100,000 to purchase accumulated goodwill and the agreement not […]

By Steven Lamb |March 5, 2004

4 min read