If your client is looking for a mortgage broker, make sure her first stop is the new national database of disciplined mortgage brokers. Read: What should your clients do with their ‘mortgage gap’ money? The database was developed by the Mortgage Broker Regulators’ Council of Canada (MBRCC), and integrates disciplinary records from most provincial regulators, […]
The abundance of investment advice online has been a steady force behind client migration toward self-directed investing. Now an Australian financial data startup, Simply Wall St, is taking a run at the Canadian market, hoping investors will pay annual subscription fees for access to market data, infographics and equities analysis. Simply Wall St launched in […]
When is a tool not just a tool? When it’s a recommendation. In November, IIROC published proposed guidance for order-execution only (OEO) services, or online discount brokers that take advantage of the OEO suitability exemption. What’s the exemption? When one of these services accepts an order without providing a recommendation to the client, the broker […]
Toronto RBC Dominion Securities advisor Roland Papp maintained multiple brokerage accounts outside of his firm without its knowledge, and that he made untrue and misleading statements in an attempt to conceal his misconduct.
01 Proxy voting commentary Comments were received over the summer on CSA Multilateral Staff Notice 54-304, the final report on the review of proxy voting and request for comments. The notice proposes protocols for counting shareholder proxy votes. Proxy voting is “an important and fundamental right,” says Gordon Raman, a partner at Borden Ladner Gervais […]
It’s the dream that dare not speak its name: calling it quits at the big firm and heading out on your own. According to an article in Bloomberg, it’s a dream that’s becoming reality for more and more U.S. advisors. The article reports independent registered investment advisors have more than doubled their AUM — to […]