By Staff | August 16, 2004 | Last updated on August 16, 2004
5 min read

(August 20, 2004) Scotiabank has launched a new online Investor Education Centre, aimed at helping clients improve their financial skills and make them more savvy investors.

“Many of our customers are interested in access to tools and resources that will allow them to further develop their knowledge and understanding of key investing principles,” says Paul Davidson, director of marketing, ScotiaMcLeod Direct Investing and Scotia Securities Inc. “At Scotiabank, we are committed to helping our customers becoming financially better off by providing relevant solutions to their unique needs.”

Through an arrangement with the Canadian Securities Institute, investors will have access to a series of six learning modules, covering 20 investment topics, including an introduction to investing, building a diversified portfolio, and investing mistakes to avoid.

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Transamerica promoting advisor support services in new branding initiative

(August 20, 2004) In an effort to demonstrate that the firm is more than just a product manufacturer, Transamerica Life Canada is combining life insurance strategies, products, consultation and support for independent advisors under one umbrella and branding the initiative as the Monarch series.

The firm refers to Monarch as an “end-to-end” suite of insurance solutions, under which advisors will have access to a number of Transamerica’s insurance products, as well as in-house consultation and back office support.

“Independent distributors and advisors tell us that there is no ‘one size fits all’ solution when it comes to offering life products and services,” says Joe Kordovi, assistant vice-president at Transamerica. “In response, the Monarch series answers the advisor’s need for greater customization in the life insurance planning marketplace, and ultimately offers greater flexibility in short and long-term planning.”

The first offering branded under the Monarch series is Transamerica’s investment loan strategy. Upcoming offerings will include life insurance strategies related to retirement, income replacement, wealth transfers, estate planning and charitable giving.

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Standard Life president retiring

(August 20, 2004) Standard Life has announced the retirement of Claude Garcia as president of Canadian operations and as a member of the board, effective December 31, 2004.

“We will miss Claude’s leadership and expertise at Standard Life” said Sandy Crombie, group chief executive of the Standard Life Assurance Company. “We wish him well for the future following his long and distinguished career with the company during which our Canadian business has fulfilled a number of important goals.”

Standard Life’s assets have tripled under Garcia’s presidency, from $11 billion in 1993 to $33 billion in 2003. He also oversaw the transfer of Standard Life’s Canadian operations from a branch in Canada to a wholly owned subsidiary, Standard Life Assurance Company of Canada.

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Canadians see home as good investment

(August 19, 2004) The vast majority of Canadian homeowners believe the value of their home has increased since they bought it, according to a CIBC/Decima Mortgage poll. While 94% hold this belief, 80% of current and potential homeowners think the “window of opportunity” for buying is closing.

“Given the appreciation in the value of their homes and financing rates which are cheap by historical standards, it is not surprising to see that eight in ten Canadian homeowners and potential homebuyers view their mortgages as an investment, rather than debt,” said Paul Mims, vice-president, CIBC Mortgages and Lending. “Many customers are tapping into the increased value of their home because a secured line of credit or a mortgage are inexpensive financing options.”

Nationwide, Canadians felt mortgage debt is “not really debt” but an investment, with 80% either agreeing somewhat or strongly agreeing with that statement.

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Foreign investors ease off

(August 18, 2004) Foreign investors continued to buy Canadian securities in June, but it was at a much slower pace than in May. Combined investments totaled $815 million, about half the amount in the previous month.

Foreigners preferred money market instruments, buying $1.6 billion worth, according to the latest data from StatsCan. Bonds were sold off to the tune of $299 million and $523 million in equities were disposed of.

Canadian investors, for their part, sold off a total of $1.2 billion in foreign holdings, including $782 million in stocks and $413 million in foreign bonds.

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Regulator seeks public comment

(August 18, 2004) The North American Securities Administrators Association (NASAA) is seeking public comment on a proposal to extend its Model Secondary Market Trading Exemption for Qualifying Canadian Securities to securities traded on the TSX Venture Exchange. Currently the Model Exemption applies only to listings on the senior TSX exchange.

The proposal, if passed, may be seen as a stamp of approval for the Venture Exchange, signaling an end of the stigma long associated with the old Vancouver Stock Exchange. The VSE was often seen, fairly or not, to be riddled with poorly governed companies and outright scams.

The Model Exemption would ease continuous disclosure requirements for Venture Exchange listed companies, bringing them in line with requirements for the senior exchange.

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CIBC selling Juniper Financial

(August 18, 2004) CIBC has announced it is selling its U.S. credit card unit, Juniper Financial, to Barclays Bank PLC for US$293 million, or about C$383 million.

CIBC acquired a 51% interest in Wilmington, Delaware-based Juniper in 2001 and subsequently increased its ownership to 98%. The remaining 2% is owned by senior management of Juniper. Barclays is purchasing 100% of Juniper Financial Corp.

The deal is set to close by the end of calendar 2004, subject to the usual regulatory approval and closing conditions.

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Sentry Select hires Kevin MacLean

(August 17, 2004) Sentry Select Capital has named Kevin MacLean, CFA as senior portfolio manager. MacLean will be responsible for equity valuation as well as gold and base metal equity research.

MacLean has over 25 years experience in fundamental analysis and portfolio management and received a number one ranking in the Precious Metals and Diamonds category of the Brendan Woods Analyst Rankings in 2001.

“Kevin’s extensive experience and keen insight into the base and precious metals industry makes him the perfect fit for our already successful investment management team,” said John Driscoll, President and CEO of Sentry Select.

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New directors appointed to RS board

(August 16, 2004) Market Regulation Services (RS) today announced the appointment of four new board members. Joining the board are Gerry Rocchi, head of Barclays Global Investors Canada, Bruce Garland, vice president of Bloomberg Tradebook Canada, securities lawyer Ermanno Pascutto and Grant Vingoe of law firm Dorsey & Whitney.

Nine board members were reappointed, including RS president Tom Atkinson, Bourse de Montreal president Luc Bertrand, IDA president Joe Oliver and TSX president Barbara Stymiest.

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08/20/04 staff


The staff of have been covering news for financial advisors since 1998.