BNN Bloomberg Interview: The Future of Independent Dealers in Canada
September 6, 2018 by Ian Russell
In my latest President’s Letter, I describe an optimistic future for the mid-sized and small independent dealers in the investment industry, despite uncertain and competitive market conditions. This is an encouraging outcome as the small dealers are vital to the depth and diversity of our capital markets. The independent dealers will build on the tight management of costs, adept application of technology, and business targeted to strategic niche markets. The independent retail firms will benefit from continued robust wealth markets, while institutional firms will have a tougher journey, but find success diversifying investment banking across … Continue reading
In an Op-Ed published in The Globe and Mail, Michael Williams, Chief Risk Officer at Richardson GMP Limited, and I argue that fixation on themes such as market movements, regulatory reform and technology has obscured, perhaps, the most important factor to build and sustain wealth—an experienced advisor—and, at the core of the client-advisor relationship, a strategic financial plan. While cost-effective regulation is key to guiding best interest and client-first conduct, regulators should also take steps to provide greater scope and flexibility to assist advisors meet the financial objectives of their clients.
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