Archive for the ‘Regulations and Industry Governance’ Category

How We Measure Investment Performance for Transparency and Consistency

By Greg Rodger on May 2nd, 2017

It may come as a surprise to many that there are different ways to calculate investment returns and that it is possible to see a negative investment return for your portfolio when the underlying investments have actually generated positive returns....

CRM2 Update – 2017 Is the Year for Positive Change

By Mark Barnicutt on January 20th, 2017

At last, the year 2017 marks a great step forward for our country with regards to transparency and disclosure in the financial services industry. The long anticipated regulation, that will impact Canadian investors, will be on display in many...

True Portfolio Transparency: The Complete Unbundling of Service Providers and Their Fees

By Mark Barnicutt on December 9th, 2016

Fee Disclosure Should Just be the Start Canadian securities regulators are currently forcing fee transparency for client accounts in the investment industry. This change is known as CRM2 (Client Relationship Model, Phase 2). HighView Financial Group...

Making Sense of Your New CRM2 Performance Report

By Dan Hallett on September 14th, 2016

On July 15, 2016 the second phase of Client Relationship Management (CRM2) became official. CRM2 is a new set of rules requiring most “financial advisors” to provide two new annual reports to each client – one detailing amounts paid to...

Self-Inflicted Problems: Mutual Fund Industry Has Fought Investor-Friendly Reforms

By Dan Hallett on July 21st, 2016

As seen in the May 2016 edition of Investment Executive. Recently published research on mutual fund commissions’ influence on fund flows led by Douglas Cumming, finance professor at the Schulich School of Business at York University in Toronto...

Mitigating Investment Portfolio Volatility

By Gary Brent on February 26th, 2016

The simple fact is that global markets are volatile. While this is always true, it is particularly pertinent presently, in the aftermath of the 2008-2009 global financial crisis when investors saw serious declines in their portfolios and the...

Mystery Shoppers Reveal Challenges of Comparing Investment Advisor Fees in Ontario

By Mark Barnicutt on September 25th, 2015

A recent article in Investment Executive highlights the results of a mystery shopping exercise wherein investment advisors were secretly evaluated by three securities regulators (OSC, IIROC, and MFDA) in 2014. Unfortunately, the results are in line...

Management Expense Ratio: True Disclosure from CRM Phase 2

By Adam Laird on September 11th, 2015

On July 15th, 2016, CRM Phase 2 will come into effect. Investment advisors and firms will be required to disclose annual reports of charges, compensation and performance. This is a positive change for investors, who are too often left in the dark by...

Canada Is Not Alone in Demanding Investing Transparency: Comparable CRM Global Regulations

By Adam Laird on August 21st, 2015

On July 15th, 2016, CRM Phase 2 will come into effect. Investment advisors and firms will be required to disclose annual reports of charges, compensation and performance. This is a positive change for investors, who are too often left in the dark by...

Regulatory Changes Driving Changes in Custodial Preferences for Affluent Families and Institutions

By Mark Barnicutt on August 6th, 2015

In our previous article, ‘Keeping Investor Assets Safe: The Custodians Role’, we outlined the importance of having an independent custodian take safekeeping of clients’ investable assets where their portfolios are being managed by...

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