Canadian investors continue to use their voice during a time of debate and consultation within our industry, expressing a clear appreciation for the value of advice and the current compensation models available to them. The Gandalf Group recently released the results of its 2018 Investor Survey, commissioned by AGF.
Reaching the elusive USMCA agreement allows our respective governments, regulatory authorities and business communities to turn their collective attention to the critical task of improving conditions to promote economic growth, job creation and business investment. And while reduced uncertainty is a great positive, important non-tariff barriers – namely, regulation and taxation – must be addressed, while also keeping a close eye on the implications of interest rate hikes.
AGF has always been a strong advocate for the value of financial advice, and these findings from Pollara Strategic Insights support previous research that demonstrates: Canadians who work with an advisor build more savings over time and are better positioned to meet their long-term investing goals. In fact, more than three-quarters (78%) of the surveyed investors specifically reported having better saving and investment habits because of their advisors.
•The U.S. Labor Department released its official hiring and unemployment figures for September last week, providing the latest snapshot of the American economy. While 134,000 jobs were added last month. Wall Street economists had expected an increase of about 168,000. Meanwhile, U.S. weekly jobless claims fell to a 49-year-low, with initial claims for state unemployment benefits dropping 8,000 to a seasonally adjusted 207,000 for the week ended Sept 29, the Labor Department said.
Blake C. Goldring, Chairman and Chief Executive Officer, AGF Management Limited announced his decision to transition to the role of Executive Chairman for the firm and to name Kevin McCreadie as the new CEO in conjunction with his Chief Investment Officer role for AGF.
AGF will continue to be an advocate for sound regulatory changes that are grounded in the needs of all investors. All proposed changes, however, should be coordinated in an organic way, with a view to limiting unintended consequences.