Anthony Layton MBA, CIM

Chairman & CEO, Portfolio Manager

Peter Guay MBA, CFA

Portfolio Manager
  • T514.875.7566 x 224
  • 1.800.875.7566
  • F514.875.9611
  • Place Alexis Nihon
  • 3400 de Maisonneuve Ouest,
    Suite 1501
  • Montreal, Quebec H3Z 3B8

Tony's Take: Industry groups resist ‘client best interest’

By Anthony Layton · March 27, 2017 - 0 comments

The Canadian Securities Administrators (CSA) intends to establish a client-best-interest standard. This proposal is to outlaw embedded sales-related commissions and require advisors to use transparent direct-pay arrangements; transaction-based commissions or fees on assets under management (AUM). This has caused an uproar in the industry.

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Tony's Take: BMO latest to announce excess-fee repayment

By Anthony Layton · December 16, 2016 - 2 comments

This week, BMO Nesbitt Burns Inc. and three other Bank of Montreal investment advisory units joined CIBC, TD Bank, Scotiabank and CI Investments in agreeing to repay over-charged fees to its clients. The Ontario Securities Commission (OSC) announced that BMO will compensate its clients about $50-million in excess fees that were not previously detected. The bank also will contribute $2.1 million to the OSC’s investor protection effort.

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