By Staff | March 5, 2008 | Last updated on March 5, 2008
2 min read
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(March 5, 2008) Calgary-based Alliance Trust Company has received the Government charter and letters patent to operate as a non-deposit-taking, specialty trust company in Alberta.

“We are excited to enter this very limited market of service providers in the field of stock transfer agency and corporate trust services,” says Zinat H. Damji, founder, president and CEO. The field of stock transfer agents is currently rather narrow in Canada, and Damji says corporate Canada would benefit from another alternative.

Alliance Trust will operate three sub-agency offices, located in Toronto, New York and London, U.K.

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Loring Ward rejects takeover offer

(March 5, 2008) The board of directors for Loring Ward International has deemed an unsolicited takeover offer by Werba Reinhard Holdings “financially inadequate.”

Werba Reinhard had offered $13.75 per share, down from an earlier offer of $15.25 per share, which the board had also rejected. The bidder currently owns about 21.2% of the outstanding shares, making it an insider and subject to the Ontario Securities Commission’s insider bid requirements.

The board of Loring Ward is now shopping the company around to “a number of parties who have expressed initial interest.” The company just released its latest earnings report, showing a profit increase of 128%, to $3.7 million. The firm currently has $6 billion in assets under management.

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Canadians leaving tax breaks untouched

(March 5, 2008) Half of all Canadians are unsatisfied with family-related tax programs, saying they could use an even bigger tax break. No surprise there, perhaps, but 38% fail to employ a strategy to reduce their taxes anyway, according to a survey conducted for the creators of a consumer tax software package.

“Canadians are clearly looking for some financial relief to help them raise their families,” says Joanne Birtch, vice-president of marketing and new business development for Dr Tax, makers of UFile. “But without a clear tax strategy … they may be overlooking family-related tax incentives and write-offs to help ease the financial load.”

Eighty-one percent of respondents in Manitoba and Saskatchewan said they employ a tax-reduction strategy, compared to just 39% in Quebec. One-third of respondents said they did not even know how to learn what family-focused tax relief was available.

(03/05/08) staff


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