Industry News

The case for RESPs: Industry defends education savings plans

(December 19, 2002) The umbrella group representing Canada’s registered education savings plan providers has firmly rejected a call to scrap the popular program. The RESP Dealers of Canada says a report released last week criticizing RESPs is a step backward for the Canadian public. University of British Columbia associate professor Kevin Milligan called RESPs “needlessly […]

By Doug Watt |December 19, 2002

3 min read

Reform RRSP/RPP system to halt erosion, says C.D. Howe Institute

At a minimum, RRSP contribution limits should be raised to $17,500 for 2003, with full indexing in the future. The current limit is $13,500, or 18% of an individual’s income, whichever is less. Pension accruals under defined benefit RPPs should be substantially increased, in line with the increases in RRSP limits. The annual percentage limit […]

By Jim MacDonald |December 19, 2002

3 min read

Knowing what motivates each of your team members: Priceless

One of the greatest challenges that we face as financial advisors is trying to motivate our team members. The difficulty stems from the fact that different people are inspired by different things. Some people respond to money or tangible items whereas others desire the intangibles — a word of praise, time off or a pat […]

By W. Lloyd Williams |December 19, 2002

3 min read

Déjà vu: Securities industry suffers second straight quarterly setback

(December 18, 2002) Canada’s brokerages saw reduced profits in the July-September period in a repeat performance from the previous quarter, according to the latest securities industry report from the Investment Dealers Association. Third-quarter profits suffered a double-digit decline compared to last year as revenues from nearly all lines of business fell. Quarterly profits tumbled 10% […]

By Doug Watt |December 18, 2002

2 min read