A roundup of this (short) week’s top news and analysis from WP
Thursday January 2
WP started off our new year with a new website layout and a positive take from Manraj Sekhon, CIO at Franklin Templeton Emerging Markets Equity. He thinks there are reasons to be optimistic about emerging markets in the new year, with tech innovations driving new investment opportunities in a number of countries.
The IFIC became one of the few voices opposing the CSA’s decision to outlaw two types of commissions in some mutual funds purchases. They say they’d have preferred a “nationally harmonized approach,” while other industry leaders shared their praise for the CSA’s decision with WP.
In regulatory news, WP carried the story of two advisors fined a total of $70,000 by IIROC for failing to act as gatekeepers when the trades their clients’ ordered “should have raised red flags.”
Friday January 3
The debate continues to swirl around deferred sales charges here at WP. Today we had word from investor advocacy group Kenmar associates. It’s their view that Ontario will eventually buckle and join the rest of the country in banning that particular mode of commission.
Grant White shared his first column of the month, warning advisors that Amazon and its Big Tech partners are coming for their jobs. It’s not all doom and gloom though, White has a few tips to weather the storm.
Speaking of tech, Wealthsimple showed up in the news after it registered three new businesses. The robo-advisor looks set to offer a one-stop financial services shop for Canadians.
Markets opened with a dip today, too, as US equities fell and investors fled to safe havens in the wake of the US airstrike that killed an Iranian general near Baghdad. Oil prices have already risen and we may need to wait for a de-escalation before they fall again.
