Advisors from other banks show interest in jumping ship
Amendments seek to appropriately restrict a dealer’s ability to use client free credit cash balances
The shift of client assets to competing firms will become more frequent as the costs of investing become more transparent
The investment dealer has changed its name to Echelon Wealth Partners
The sale SAC Capital is expected to close next month
Rising regulatory costs are the main reason for the increase in operating expenses at retail firms
The deals between the three Vancouver-based independent dealers will see PI expand its roster of advisors to more than 200 and its client totals to 40,000 across Canada
However, Canada’s securities dealers are firmly in favour of IIROC proposal to allow them to hire mutual fund-only reps
The firm had entered the retail securities distribution channel in 2012 when it acquired Halifax-based Citadel Securities
Citing lack of support, the regulator has decided not to proceed with a proposal to adopt lower minimum capital requirements for this firm