January 21, 2019 by Ian Russell

Investment industry performance, nine months ended September 2018: Strong results likely for the year, but storm clouds gathering on the near horizon (IIAC blog)

Ian Russell

In my latest President’s Letter, I provide an analysis of the investment industry’s performance for most of 2018 and a preview of what is to come. While the sector has experienced strong performance, the worrisome upward move in operating costs poses the greatest threat to dealer earnings and the viability of small dealers in the coming year. Consolidation trends will likely continue, affecting the competitive diversity of the industry and capital-raising for small and mid-sized businesses in public and private markets.

Read my latest Letter from the President.



December 13, 2018 by Ian Russell

Op-Ed – FSRA will have many benefits (IIAC blog)

Ian Russell



In this Investment Executive Op-Ed I discuss Ontario’s new insurance regulator, the Financial Services Regulatory Authority, and describe its impact on securities regulation in the province.


You can read more here.





December 4, 2018 by Ian Russell

Op-Ed – Small investors will benefit from the Ontario government’s deregulation plans (IIAC Blog)

Ian Russell





Today’s Globe and Mail has run a column I submitted on the impact of the accumulating regulatory burden on small investors and small businesses.


You can read more here.



November 23, 2018 by Ian Russell

BNN Bloomberg Interview: The drain of investment capital from Canada

November 20, 2018 by Ian Russell

London perspective: A survey of the key issues at play in global financial markets (IIAC blog)

Ian Russell

My latest President’s Letter provides a perspective drawn from meetings in London earlier this month at the International Council of Securities Associations (ICSA) Interim Meeting, with the Chair of the Fixed Income Currencies and Commodities Markets Standards Board (FMSB) and individual financial executives. The document provide insights on risks in global capital markets, priorities for further reform and a focus on the key challenges at play, including Brexit.

Read my latest Letter from the President.



November 16, 2018 by Ian Russell

Recent Supreme court decision – Insights

Ian Russell



On November 9, the Supreme Court confirmed the constitutionality of the Cooperative Securities Regulator ruling on two questions before the Court. I offer up my insights on what this means for the industry and what lies ahead.



To read my insights, Click here.



October 24, 2018 by Ian Russell

Observations from the SIFMA Annual Meeting (IIAC Blog)

Ian Russell


I attended the SIFMA Annual Meeting in Washington in early October. The one-day conference included several policy sessions on the market and economic outlook, a perspective on the evolution of wealth services, and the political landscape in the U.S. with mid-term elections in the offing.


Two interesting break-out sessions focused on changes to business models in fixed income trading and wealth management. Insights shared by experts are important not just to understand how the U.S. industry is evolving, but to foreshadow the direction Canadian dealers might take given changes in investor behavior in our markets. My summary comments are available here.


October 18, 2018 by Ian Russell

Maintaining Earnings Momentum in the Wealth Management Business (IIAC Blog)

Ian Russell

There is an undercurrent of change happening in the wealth management business, driven by stiff competition, fee compression, regulatory obligations, evolving investor needs and preferences, and applications of new technologies. Industry operating costs have escalated and margins have been squeezed. Further, there is no end in sight to rising costs.

How do wealth-focused investment dealers position themselves for a new phase of growth and profitability?

Read my latest Letter from the President.




September 24, 2018 by Ian Russell

The IIAC Proudly Presents the Nominees for the 2018 IIAC Top Under 40 Award (IIAC Blog)

Ian Russell

The IIAC Top Under 40 Award recognizes and celebrates the new generation of highly motivated and talented young professionals whose drive, dedication, personal and professional qualities and accomplishments have brought distinction to the investment/financial industry.

Please join me in congratulating the 2018 nominees. They are featured in full-page ads in the October editions of Investment Executive and Finance et Investissement. 

The nominees will be formally recognized at the IIAC Top Under 40 Award Luncheon on October 25, 2018 in Toronto, where the 2018 Award recipient will be announced. 

Thank you to our sponsors: Canadian Securities Institute, Investment Executive and Finance et Investissement.

Follow on Twitter: @IIACACCVM #IIACTopUnder40Award


September 6, 2018 by Ian Russell

BNN Bloomberg Interview: The Future of Independent Dealers in Canada