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In-branch tellers bear the brunt of RBC cost cuts Sep 7th
Banks are cutting costs as they deal with slowing revenue growth, low interest rates and tapped-out borrowers
.... More »
Bank stocks and real estate exposure Oct 28th
Everyone expected the federal government would tighten mortgage rules to halt risky lending practices and curb unsustainable growth in the housing market. No one expected they’d be so tough. Here’s a look at what’s worrying officials about residential mortgages and which banks are most exposed.... More »
BMO SmartFolio Review: A Robo-Advisor Option from a Bank You Know + MORE Mar 2nd
For years, most investors had to choose between two polar opposites on the investment spectrum: DIY investing and high-cost mutual funds. There was no middle ground. This left many investors frustrated. There had to be a better way and thankfully now there is.
Robo-advisors offer the best of both wo.... More »
A Plan to Give Community Banks Relief From Dodd-Frank Apr 24th
Smaller institutions didn’t cause the financial crisis, but are drowning in compliance costs..... More »
Number of Canadians using fintech products may triple + MORE Jan 28th
TORONTO – Business consultancy firm EY says it believes the challenge to traditional banks from financial technology, or fintechs, will accelerate rapidly this year.
EY says that until now Canadians have been slow to embrace offerings from companies such as robo-advisers and online lenders.
Citing.... More »
(Christinne Muschi/Reuters)It’s a generally accepted axiom in business that bigger is better. Bigger sales, bigger profits, bigger market share. And in Canada right now, the title of biggest company just got snatched away from the biggest of the Big Five banks, Royal Bank of Canada (RBC). The new big kahuna on the Toronto Stock Exchange, when measured by market capitalization—meaning the total value of its outstanding shares—is a drug company from Laval, Que., named Valeant Pharmaceuticals, worth roughly $115 billion.
But is bigger really always better? That’s a valid question when it comes to Valeant, not only because of the grim fate that befell other companies that have preceded it in that top spot, but also because of the persistent questions swirling around how it got there. It certainly would seem as if congratulations are in order for Valeant’s chairman and CEO, Michael Pearson, the former pharmaceutical consultant who has spearheaded the company’s rapid ascent and wants to transform Valeant into one of the five most valuable drug companies in the world by 2017…
TD wins coveted customer satisfaction award from J.D. Power
– theglobeandmail.com
Tim Hockey, group head of Canadian banking and wealth management at TD says the trend among banks has been a rise in service levels
Beware Frosh Week Marketing Mania
– ratesupermarket.ca
By: Derek Nicholson
The first week of school is almost upon us, bringing with it the myriad of events and activities also known as Frosh Week. From concerts to guest speakers, schools aim to make students feel welcome and excited to start or continue their studies.
With the fun, however, come the marketing motives. They’re easy to spot; companies with booths set up in the atrium, ready to appeal to the wide-eyed, excitable state of froshers – especially those setting foot on campus for the first time. Through a little strategic placement and a good pitch, these companies hope students and parents alike will take the bait, from cable packages to credit cards.
Stay Out Of My Pocket
In my opinion, a problem lies with the amazing “deals” that get plastered around campuses. For those who are new to college or university, companies aim to convince you to “buy this” or “upgrade that” in order to be successful in your schooling, which is more often than not a blatant money grab…
