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Scotia Momentum® VISA Infinite* Review May 15th
Attention MoneyWise readers! Sign up for the Scotia Momentum® VISA Infinite* card and, for a limited time, get $75 IN CASH via Interac e-Transfer or a gift card from RateSupermarket.ca upon approval!
Are you looking for a well-rounded, high-earning cash back credit card with travel perks and no a.... More »
Refugees and the long political journey + MORE Dec 13th
(BULENT KILIC/AFP/Getty Images)
Given where they are coming from, those 7,300 Syrian refugees who will arrive in Montreal by the end of 2016 will likely welcome the display of banal Canadian bureaucracy set up in their honour. They will taxi into Trudeau Airport and be taken to a special screening a.... More »
The top MoneySense reads of 2015 + MORE Dec 29th
The year is wrapping up and MoneySense had a 2015 jam-packed with stories to help you boost your personal finances. We look back at our best stories of 2015 that you might have missed (or may want to read again!) From an entertaining take on one man’s journey to track his every expense, to.... More »
#RoadtoSavings Twitter Party: Summer Driving Savings PLUS $100 Grand Prize Jun 11th
Planning to take a road trip this summer? While packing the fam into the van and clocking some mileage is a long-loved Canadian tradition, road trips can be pricey – especially as today’s gas prices sky rocket.
What’s a family with wander-lust to do? Why, save with pro finance and lifesty.... More »
Canada’s best no-fee credit cards 2022 Nov 4th
Some of the best things in life are free—so why should you expect any different from your credit card? Canada has an impressive array of no-fee credit cards that don’t charge cardholders an annual fee, while also delivering respectable rewards like cash back and travel points. Many of these no-f.... More »
It’s time to ban adviser commissions
– moneysense.ca
Should financial advisers be banned from collecting commissions on mutual funds? That’s been hotly debated for years, and in December the Canadian Securities Administrators (CSA) issued a discussion paper that considered the idea of imposing such a ban. Australia already did so in 2012, and the U.K. followed suit this January. But if it ever comes to pass in Canada, it would happen despite a strong lobby by Advocis, the Financial Advisors Association of Canada. And that’s a shame.
This week the chair of Advocis sent an email to advisers that started like this:
Every day your clients rely on you to help them achieve their financial goals. If you’re like me you depend on commissions to make your advice possible. How would you survive if there were no commissions? As strange as it may seem, that is the intent behind the recent consultations by the CSA regarding fees — including a ban on embedded commissions.
While this is currently limited to mutual fund trailers and DSC fees, there is no structural difference with life insurance commissions…
This week the chair of Advocis sent an email to advisers that started like this:
Every day your clients rely on you to help them achieve their financial goals. If you’re like me you depend on commissions to make your advice possible. How would you survive if there were no commissions? As strange as it may seem, that is the intent behind the recent consultations by the CSA regarding fees — including a ban on embedded commissions.
While this is currently limited to mutual fund trailers and DSC fees, there is no structural difference with life insurance commissions…
