Your Finances
Be a Smarty Pants: Check Out CARP’s Investor Protection Reading List
Be sure to read/catch up on all of CARP’s Investor Protection articles that you may have missed: 1. An Intro to Protecting Your Investments: Top Broker Scams 2. New Federal Government Initiatives for Consumer Protection 3. Expert on aging teams with bank on ‘life transition’ 4. OBSI and the National Securities Regulator 5. Measures Every Investor Should Take Before Investing … Read more
Do Credentials Equal Credibility?
May 4th 2012: The financial industry is well of aware of the fact that seniors and their savings are a boon to profit margins and increasingly, they are thinking of new ways to attract clientele in the older demographic. In March, CARP commented on the Bank of Montreal’s appointment of a new “life transition expert”. While outreach strategies targeting seniors … Read more
Is Your Adviser Pumping Up His Credentials?
Just when Americans seem more desperate than ever for trustworthy investment advice, financial advisers are brandishing a baffling array of new credentials—some of which can be earned with minimal or no study and a few hundred dollars. Increasingly, say regulators, financial advisers are using these dubious designations as marketing tools to win the trust of older, wealthier clients, in hopes … Read more
Ottawa pushes for national securities regulator within year
The federal government and most of the provinces and territories are currently working together in a renewed attempt to create a common securities regulator that could see the provinces outsource the administration of their securities regulations to Ottawa. This article was published by The Financial Post on April 26th 2012. To see this article and other related articles on Financial Post … Read more
CARP Financial Services Poll Report
KEY FINDINGS May 4, 2012: Members have just more than 3 accounts on average at their main financial institution, and pay just over $12 on average in monthly fees The majority say their main financial institution offers a no-frills, no-fee basic account suitable for seniors, almost all agree it is important such accounts should be offered, that they would be … Read more
World Bank Recommendations for a Banking and Investments Ombudsman
May 4, 2012 – Where would you go if you lost money because a bank, investment firm, or personal advisor gave you poor advice or hazardously disregarded your risk comfort? A financial sector ombudsman might help, but only if it has the required features and mandate to effectively mediate between institutions and individuals. News from Canada’s banking and investment sector … Read more
Ottawa to set new rules for bank mediators
The federal government has finally confirmed it will not force the country’s banks to resolve client disputes through the Ombudsman for Banking Services and Investments (OBSI) and is set to unveil new rules and regulations that will allow financial institutions to hire their own mediators to sort out disputes with clients. This article was published by The Financial Post on … Read more
CARP Chapter Field Report: Vancouver OAS Roundtable
April Lewis, B.C. Representative and Jeffrey Sefton, Chair Vancouver Central Chapter were invited by Libby Davies, MP Vancouver – East to be part of a Round Table discussion on the changes to the OAS/GIS made recently by the Harper government. The event was entitled “Our Pensions are at Risk!” Guest panelists included Bill Tieleman, Political Journalist; Ellen Woodsworth, former Vancouver … Read more
Why the obvious fix for the country’s collective pension problem is being ignored
This article was published by Toronto Life on April 19th 2012. To see this article and other related articles on The Toronto Life website, please click here Last fall,the Royal Bank of Canada—with $27 billion in annual revenue, $752 billion in assets and 74,000 employees, the biggest and most prudent bank in the world’s safest banking system—announced that new employees … Read more
Scam Alert! Have you Received an E-mail from the “CRA”?
CARP called it! In early April, we warned members to be wary of emails from the Canadian Revenue Agency. Typically these e-mails ask you to confirm details of your recent filings or may suggest you have an additional refund coming. They will ask for personal information in order to verify your return or for payment/refund. For more information read our … Read more
