DAILY NEWS

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18 December 2014, 1:06PM
18 December 2014, 8:42AM
17 December 2014, 1:05PM

NOVEMBER/DECEMBER 2014: Articles from our monthly print edition

02 Dec 2014

Government called on to change RRIF withdrawal rules

The Conference for Advanced Life Underwriting (CALU) has made two proposals to the federal government that it believes will encourage Canadians to be financially self-sufficient in their retirement years, thereby reducing their reliance on public programs and institutions. (Read more)

02 Dec 2014

Advisors need to strengthen value proposition to face intensifying competition

Advisors need to brush up on their individual value-added propositions to ensure their clients are not peeled away from them by increased competition. And it’s not just regulatory change that is causing this need either – demographic and technology pressures are in the picture too, advisors heard. (Read more)

02 Dec 2014

Thoughtful approach needed to implement CRM2

CRM2, the three-stage regulatory initiative that will increase transparency and disclosure to mutual fund investors, is an “inverted iceberg” that will touch investors often and must be implemented thoughtfully, a panel told members of the industry Oct. 8 in Toronto. (Read more)

02 Dec 2014

Industrial Alliance to acquire Ten Star’s life business

Industrial Alliance intends to buy part of Ten Star Holdings Inc.’s business. Pierre Picard, manager, public relations for Industrial Alliance, told The Insurance and Investment Journal that the company reached an agreement with Ten Star Financial Services’s holding company on Sept. 10 to buy all of its life insurance business and part of its mutual fund and investment assets. (Read more)

02 Dec 2014

Distribution channel forced to evolve

There is no shortage of issues that financial advisers will have to face over the next five years. What should their compensation be like? To what kind of regulations will they be subject? How will technology affect their practices? Leaders from insurance companies and managing general agents (MGAs) say that the coming years will see changes in the way financial advisors and MGAs do business. (Read more)

02 Dec 2014

Ontario to review regulation of financial planning

The Ontario government may step in to regulate the provision of financial planning and advice. (Read more)

02 Dec 2014

Consistent guidelines needed to protect clients when agents transfer dealers

Dear Editor,

I have just changed dealers. What I have found out is that there is no consistency in how agents are treated. The dealers say we are there to protect the client and make sure they are looked after. The former dealer says that MFDA requires them to assign an agent to the files so trades, etc. could be completed at the client’s request. (Read more)

02 Dec 2014

CCPC status with non-resident shareholders

At issue
A corporation is a separate legal entity and a separate taxable entity from its shareholder/owners. To the extent that the corporation’s tax rate is less than that of the shareholders, it may be possible to achieve tax deferral and savings. (Read more)

02 Dec 2014

Instilling confidence is key to improving financial literacy

Financial literacy is a must-have to contribute to a strong and stable economy, but people need to be realistic and realize this kind of knowledge can’t be attained in just a few years, said Canada’s first Financial Literacy Leader. (Read more)

02 Dec 2014

Industrial Alliance makes GLWB comeback

After having pulled Ecoflextra off the guaranteed lifetime withdrawal benefits segregated fund product market in 2012, Industrial Alliance is launching a new product tailored to today’s regulatory environment. (Read more)

02 Dec 2014

Relations warm between Mutual fund and ETF industries

The Investment Funds Institute of Canada (IFIC) passed some major milestones in 2014: mutual fund assets under management topped $1 trillion and more disclosure and transparency rules came into effect. But a breakthrough of another sort took place at IFIC’s annual conference when, for the first time, members of Canada’s ETF industry were asked to participate in a panel, marking increased co-operation between the two formerly divisive groups. (Read more)

02 Dec 2014

Insurance plans offer alternative to long wait times for medical care

A recent Report Card on Wait Times in Canada has called timely access to medical care and treatment in this country as still a work in progress. “It is not right to force Canadians to wait two or three times longer for necessary medical care than citizens of other countries that also have universal publicly funded health systems,” said the report. (Read more)

02 Dec 2014

Copoloff: 50 years of discretion, loyalty and organic growth

Copoloff Insurance Agencies has been keeping a low profile lately. Formerly present across Canada, the managing general agency is pursuing prosperity by grouping its activities and nurturing the organic growth of its most loyal advisors. (Read more)

02 Dec 2014

Wilton Re sets sights on long-term growth with Transamerica acquisition

A U.S.-based life insurance company, boosted by the promise of more financial backing from its new owner, the Canada Pension Plan Investment Board (CPPIB), is making its first foray into Canada with the $600-million purchase of Transamerica Life operations in Canada. (Read more)

02 Dec 2014

Quebec regulator gives green light to new organization for financial advisors

On Oct. 21 the Quebec financial services regulator, the Autorité des marchés financiers (AMF), signed a memorandum of understanding with the provincial insurance regulator, the Chambre de la sécurité financière (the Chambre), and gave the green light to the Corporation des professionnels en services financiers (CDPSF), a new organization for financial services professionals. The twenty regional chapters that had been part of the Chambre will now officially become part of this new entity. (Read more)

02 Dec 2014

Regulation of life insurance intermediaries: the AMF calls for discussion

Eric Stevenson, superintendent of client services and distribution oversight at Quebec’s financial market’s regulator, the Autorité des marchés financiers (AMF), has called on the financial services industry to consider how life insurance intermediaries should be regulated. He is making this call in light of the recommendations the International Monetary Fund (IMF) made to the AMF during its inspection in 2013. (Read more)