And we dig into fund managers' compensation  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
Saturday, March 9, 2024

In this week's edition:

Scotia sued over pension plan for doctors

Richardson adds retention bonuses

Class actions and the data breach

Fund managers paid for flows, not performance

Toronto-based pension provider Blue Pier Administration Corp. has sued Scotiabank for $700 million, claiming the bank’s physician-focused Medicus Pension Plan was built on the back of confidential information supplied by Blue Pier. Michael McKiernan reports.

If you stay, you get paid. Richardson Wealth will grant a total of $15.2 million in bonuses to advisors who were with the firm in 2020 and remain until at least November 2026. Kish Kapoor, CEO of parent company RF Capital, said advisors who controlled approximately 91% of Richardson Wealth’s assets in Oct. 2020 are still with the wealth management firm. Rudy Mezzetta reports.

Last year, several clients were victims of a data hack involving financial services firms and file transfer service GoAnywhere. Since then, four class-action lawsuits have been filed in relation to the incident. However, since the suits originate in different provinces, no single provincial court can decide which case goes forward. Michelle Schriver tells you what clients need to know.

The Magic Number
7
That's the number of people who received new responsibilities and promotions at PPI after Cathy Hiscott was named CEO this week.

Contrary to disclosures, fund assets are the primary driver of a portfolio manager’s compensation, finds a working paper published by the U.S. National Bureau of Economic Research. Turns out, investment performance primarily impacts fund managers’ compensation through the effect on AUM.

Melissa Shin
EDITORIAL DIRECTOR
Melissa has been with Advisor.ca since 2011 and leads Newcom Media Inc.’s group of financial publications.
 

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