Much has changed for the wealth management industry in the last month. The COVID-19 crisis has translated into a the most unprecedented event of our lives, not to mention putting an end to one of the longest bull markets in history since World War II. If figuring out how best to wrestle the oscillating markets […]
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On March 26, 2020, the Investment Company Institute (ICI) announced that the average expense ratios of US domiciled equity, hybrid, and bond mutual funds—including both actively managed and index equity and bond mutual funds have declined substantially over a period of more than 20 years. The report titled, “Trends in the Expenses and Fees of […]
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The past several weeks has changed many aspects of our personal and professional lives. It would be an understatement that the pace of change, including the transition to work from home, taking care of children and elders, all while maintaining our own well-being, has required major adjustments for all. Amidst this period of change, the […]
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How being transparent with your clients can help build stronger relationships Over the course of the last decade, compliance requirements for advisors have increased significantly, which has created tension between the industry and regulators at times. However, the goals of all industry stakeholders might be more aligned than some believe. According to the CFA Institute, […]
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After an extensive investigation and feedback period, the CSA (Client Securities Administrators) recently released the published rule amendments to implement Client Focused Reforms (CFR) across Canada. CFR is a series of investor protection reforms based on the fundamental concept that clients’ interests come first for dealers in their interactions with investors. The reforms provide obligations […]
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InvestorCOM promises to help overwhelmed dealers comply with CFR requirements It was June 2018 when InvestorCOM realized that, for the past seven years, they had been moving toward where the regulatory puck was headed. “When the OSC released its first discussion paper on client-focused reforms, we saw this new emphasis on the dealer shelf — […]
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Did you know that during a survey of mutual funds done in 2019, it was discovered that over a five-week period, there was an average of 2,000 changes a week to the attribute data of mutual funds? And a recent review of Canadian investment dealers revealed that as a result, dealers have a challenge in […]
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The Forces of Technology: Automation and Augmentation We are starting to see the signs of a major technology shift in wealth management that is being driven by two factors: automation and augmentation. Automation refers to the replacement or total disruption of human tasks and processes, while augmentation is about enhancing human expertise — such as […]
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With the recent publishing of new Client-Focused Reform regulation, advisors and dealers are challenged with a new compliance obligation. Our IE article this month provides some background on the reg and strategies to remain compliant. With the recent publication of new client-focused reforms (CFRs) on Oct. 3, advisors may be considering how they will meet yet another […]
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How embracing technology can help you build stronger client relationships The adoption of technology within the wealth management industry is often seen as having two opposing approaches: there’s the fully automated robo-advisor at one end of the spectrum, and the traditional wealth manager who offers limited digital capabilities at the other end. There is a […]
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