TORONTO (Reuters) – Every financial adviser faces the uphill battle of building a customer base through referrals, networking, cold-calling and marketing – and the memory of his early days of seeking clients still haunts Christopher Dewdney.
“The first years were very difficult,” recalls the Toronto financial adviser, who now has nine years under his belt.
TORONTO, Jan 24 (Reuters) – It often starts with a case of
weekly dread. Frustrated financial advisers, overwhelmed or
under water, need objective advice. With few formal supports
available in an industry that breeds fierce competition, they
seek out a coach or mentor.
“It’s typically someone sitting late on a Sunday night,
playing ‘Gee ain’t it awful,’ in their mind, and then getting up
on Monday morning and saying ‘I need some help’,” said business
coach George Hartman.
TORONTO, Jan 23 (Reuters) – Canadian home prices fell in
December from November and year-over-year price gains were the
lowest in three years as Canada’s housing market continued to
cool, the Teranet-National Bank Composite House Price Index
showed on Wednesday.
The index, which measures price changes for repeat sales of
single-family homes, showed overall prices fell 0.4 percent in
December from a month earlier, the fourth straight monthly
decline, a first outside of a recession, and the fourth December
monthly decline in 13 years of data.
TORONTO, Jan 17 (Reuters) – The Bank of Montreal’s
relatively new website has everything an investor might need,
from wealth calculators to videos, worksheets, checklists and
information to tie it all together. But with so much free advice
on offer, is there still a need for investors to contact the
bank’s financial advisers?
The executives who designed the site believe so.
“It’s like WebMD – you might check your symptoms, but in the
end, you’re always going to go see the doctor if you’re really
concerned,” said Lisa Parise, director of Enterprise Wealth
Planning at BMO, Canada’s fourth-largest bank.
TORONTO, Jan 15 (Reuters) – With more Canadians saying they
can’t afford to invest, the country’s big banks are struggling
to persuade people that socking away a little money now is the
only path to a secure retirement.
While Canadians once outpaced their U.S. counterparts in
terms of savings, the nation’s luck in avoiding the worst of the
recession and financial crisis meant few learned the painful
lesson of too much debt, and fewer than ever feel able to save
TORONTO, Jan 15 (Reuters) – Sales of existing homes in
Canada fell in December from November and year-over year sales
tumbled, the Canadian Real Estate Association said on Tuesday,
further evidence Canada’s once-hot housing market has slumped.
CREA, the industry group for Canadian real estate agents,
said in a report that sales activity was down 0.5 percent in
December from November, the third consecutive monthly decline.
TORONTO, Jan 10 (Reuters) – Som Seif, founder and former
president of Claymore Investments Inc, has launched a Canadian
asset management firm aimed at low-fee investments for
institutional and retail investors, unveiling its first fund on
The new firm, Toronto-based Purpose Investments, promises to
use rules-based investment management to keep fees low and risk
in check, a semi-passive management structure that hopes to
appeal to investors who like the low fees of the exchange traded
funds (ETFs) that made Claymore such a success.
TORONTO, Jan 10 (Reuters) – A long bull run in Canadian
house prices and painful memories of the 2009 financial crisis
have convinced many Canadians that their retirement dreams are
best left at their own doorsteps – a strategy that many
financial planners consider risky.
Indeed, more Canadians than ever are relying on appreciation
in the value of their homes to pay the bills in their golden
years. It’s a trend that worries advisers, especially as savings
rates decline and more people say they are comfortable carrying
debt into retirement.
TORONTO, Jan 9 (Reuters) – Canadian housing starts slowed in
December, but not as sharply as expected, as rural starts
declined but urban starts held steady, Canada Mortgage and
Housing Corp said on Wednesday in a report that confirmed a
housing market slowdown is underway.
The seasonally adjusted annual rate of housing starts was
197,976 units in December, down slightly from 201,376 in
November but above an average forecast of 195,000 among analysts
polled by Reuters.
TORONTO, Jan 8 (Reuters) – Canada’s housing market is
expected to see a continued slowdown in sales in the first half
of 2013, but the correction will be mild and brief, with prices
still inching higher by the end of the year, one of Canada’s
largest realty companies said on Tuesday.
Dismissing fears of a sharp collapse in Canada’s long-hot
housing sector, Royal LePage Real Estate said resource-rich
cities in Alberta and Saskatchewan will have strong growth in
sales and prices, dampening the impact of an expected slowdown
in previously booming cities like Toronto and Vancouver.