Are You Retirement Ready? Featured Articles

How Canadians go from student debt to default

It’s unclear how large the student debt default problem is for Canada, but when you ask how graduates end up in the thick of it, you get a remarkably consistent picture. On Monday, a report published by Ontario-based debt-advisory firm Hoyes Michalos found that almost 18 per cent of the insolvency filings it handled in 2018 involved student debt — a 38 per cent increase since 2011. Nationally, the share of consumer insolvencies involving student loans has been on a slow but steady rise from 9.7 per cent in 2012 to 12.3 per cent in 2018, according to data provided...

CPPIB increases stake in 407 toll highway

Staff | August 16, 2019 A company controlled by the Canada Pension Plan Investment Board has acquired a 10.01 per cent equity stake in the 407 International Inc. The 407 International holds a concession over the 407 express toll route from SNC-Lavalin Group Inc. Under the terms of the agreement, the CPPIB agreed to pay $3 billion to SNC-Lavalin on closing, with an additional $250 million paid over 10 years. The terms are conditional on achieving certain financial performance targets related to the toll highway. Read: Court clears path for SNC-Lavalin to close sale of stake in 407 The CPPIB has been an investor in 407 International since 2010,...

A taxing issue: the need to be on top of real estate rules

Advisors have been urged to brush up on their real estate tax knowledge, with the CRA throwing more auditors at the issue. Mistakes in tax returns appear to have left millions of dollars out there and, with many transactions of this nature of high value, the agency is redoubling its efforts to recoup money. Mariska Loeppky, director, tax and estate planning for IG Wealth Management, believes investors are often making innocent errors because of the relatively new adminstrative change to reporting your principal residence exemption disposition. From the 2016 tax year, residents are required to report basic information, like date...

Advisor fired after borrowing money from vulnerable clients

An advisor was fired for borrowing more than $100,000 from four clients – three of which were vulnerable – and misleading his firm about the loans. An MFDA hearing panel established the allegations against Toronto-based Stuart Michael Gibson, who worked for Investors Group Financial Services from April, 1982, to December, 2016, when he was fired.  Gibson is not currently registered in the securities industry. The violations took place between 2008 and 2016 and gave rise to conflicts of interest that the respondent failed to disclose to his company. He also engaged in unapproved dual occupation, working as a telemarketer at...

Foyston, Gordon & Payne appointing new credit analyst to fixed income team

Staff | August 15, 2019 Foyston, Gordon & Payne Inc. is appointing Brooke Biscoe as a credit analyst on its fixed income team. Biscoe’s career began in 2013 at Standard & Poor’s Financial Services, where he spent three years as a ratings analyst assisting the primary analyst in the preparation, monitoring and amendment of ratings for Canadian companies in a variety of industries.  Read: Foyston, Gordon & Payne enhances global equity team Prior to joining FGP, he spent three years as an associate specializing in private debt at Next Edge Capital Corp., where he was responsible for assisting in deal sourcing, screening, structuring and valuation. Source