WEIGH HOUSE INVESTOR SERVICES FIRST IN CANADA TO HAVE ITS INVESTMENT SUPPORT SERVICES CERTIFIED

FOR IMMEDIATE RELEASE
CEFEX


TORONTO, April 19, 2010 – CEFEX, Centre for Fiduciary Excellence, LLC, has certified Weigh House Investor Services of Toronto ON for the provision of fiduciary Investment Support Services in adherence with a standard of excellence. Weigh House Investor Services (“Weigh House”) is among the first organizations globally to successfully complete this type of independent certification process.


The Prudent Practices for Investment Support Services are part of the Prudent Practices for Investment Fiduciaries series of standards published by Fiduciary360 (fi360) of Pittsburgh, PA. This global standard specifies how a firm can help investors and fiduciaries manage the overall investment management process, including the selection, monitoring and de-selection of investment managers as well as developing processes to implement investment strategies and
fiduciary practices on an ongoing basis. The Practices have been substantiated by case law and the legislation of the Pension Benefits Standards Act, 1985 (Canada), the Pension Benefits Act (Ontario) and the Trustee Act (Ontario).


According to the General Manager of the Centre for Fiduciary Excellence, Carlos Panksep, “Through CEFEX’s independent assessment, the certification provides assurance to investors that Weigh House has demonstrated adherence to the industry’s best practices.”


Weigh House consults with clients on a one-time and continuous basis, in a fiduciary capacity, on preparation of the Investment Policy Statement, asset allocation recommendations, due diligence on Investment Managers, fee & compensation analysis, investment performance reports, advice on investment strategies, and education.


The annual certification process involves a detailed assessment of operational data, client files and procedures, followed by on-site interviews with key personnel. The process is based on the International Organization for Standardization audit process ISO 19011. Weigh House is registered at www.cefex.org where its certificate can also be viewed.


The Prudent Practices for Investment Support Services standard can be viewed by clicking on
Weigh House’s on-line CEFEX certificate. More information on Weigh House Investor Services is available at: www.weighhouse.com.

Carlos Panksep
General Manager
CEFEX


About CEFEX:


The Centre for Fiduciary Excellence, LLC. is an independent certification organization. CEFEX works closely with industry experts to provide comprehensive assessment programs to promote fiduciary best practices. It certifies investment stewards, advisors, fiduciary advisers (PPA), managers, ASPPA recordkeepers, and support services firms. CEFEX has offices in Toronto, Canada, and Pittsburgh, PA.

AVOIDING CONFLICTS OF INTEREST

It is difficult to imagine how in today’s economy, a firm or registrant can be profitable without offering a more holistic model of financial service to clients: insurance, financial planning, tax preparation, etc. These are more often than not, part of the “big picture” that advisors must offer. Clients want the convenience of one stop shopping. They want knowledge and they want to trust in the advice they receive from a common source on all financial matters.


With increased emphasis by regulators on managing or eliminating conflicts of interest, how do we stay on the right side of compliance? IIROC suggests the starting point is rule 29.1 which requires that dealers and their representatives must observe high standards of ethics and conduct in the transaction of their business and not engage in any business conduct or practice unbecoming or detrimental to the public interest. MFDA rule 2.1.4 requires that material conflicts of interest must be addressed by the exercise of responsible business judgment influenced only by the best interests of the client.


The common thread in all conflict of interest rules is that we put our clients’ interests ahead of our own.



Read entire article:



http://www.advisor.ca/advisors/news/industrynews/article.jsp?content=20100519_101326_1872

Stephanie A. McManus, LL.B.
Advisor.ca
May 19, 2010

AN ACT OF CHARACTER: WHEN LOSING A GOLF TOURNAMENT REALLY MAKES YOU A WINNER

There are times to be competitive. Moments when all you want to do is humiliate your opponent as you defeat him. It's the nature of sports, and what our internal competition meters usually read.
That, we all know, is how athletes feel most of the time. But, at times, and these are few and far between, we see acts that defy wins and losses. A moment when a girl is brought in on crutches to score a layup to break a record or someone being carried around the field after she twisted her ankle rounding the bases. Opponents coming together to transcend the game.
That is what happened between two collegiate golfers, vying for a spot in the NAIA National Championship.
Grant Whybark (left), a sophomore at the University of St. Francis, had locked up a spot in nationals with his team, which won the Chicagoland Collegiate Athletic Conference Championship, but was in a playoff against Olivet Nazarene's Seth Doran (right) for individual honors.
As championships go, both the winning team and winning individual are asked to move on to nationals, so if Whybark won the playoff against Doran, he'd be honoring both spots and Doran wouldn't be asked to move on.
What happened next is the type of stuff movies are made about. Whybark stood over his tee shot on the first playoff hole, looked down the fairway and back at his ball, and hit it 40 yards right of the fairway, out of bounds by a mile. He made double bogey, Doran made par, and Olivet Nazarene had a man in nationals.
What makes it so incredible? Whybark intentionally did it, because he felt Doran had earned a spot in the next round.
"We all know Seth very well," Whybark explains, "and he not only is a very good player, but a great person as well. He’s a senior and had never been to nationals. Somehow, it just wasn’t in my heart to try to knock him out.
"I think some people were surprised, but my team knew what I was doing and were supportive of me. I felt Seth deserved to go (to nationals) just as much as I did.
"It was one of those things where I couldn’t feel good taking something from him like this. My goal from the start was to get (to nationals) with my team. I had already done that."

Read entire article:

http://ca.sports.yahoo.com/golf/blog/devil_ball_golf/post/When-losing-a-golf-tournament-really-makes-you-a?urn=golf,238912

Shane Bacon
Yahoo Sports
05/05/2010

ADVISORS TARGETTED UNFAIRLY: REYNOLDS

Advisors do a great deal more than media gives them credit for. Regulators don't understand the consequences of their decisions. Canadians would suffer if it wasn't for the value of advice. These and many other views were expressed on the final day of the recently concluded 2010 Distributors' Summit.


"The value of advice is important to Canadians, and without it they will suffer greatly," said Chris Reynolds, co-founder and president of Investment Planning Council Inc.


Reynolds made a compelling case for that value, identifying three key areas of service that financial advice provides for Canadians


Read entire article:

http://www.advisor.ca/advisors/news/industrynews/article.jsp?content=20100430_143711_9088

Vikram Barhat,
Advisor.ca
04/30/10

INVESTOR ADVOCATES RESPOND TO POS CONTROVERSEY

From coast-to-coast, advocates of investor education have sharply reacted to the discontent shown by the mutual funds sector over the proposed POS disclosure obligations.


“Investors want to be able to make informed decisions and require information before they buy, like every other product,” says Ken Kivenko, president of Kenmar Associates in Toronto. “These investments are their life savings.”


He says the POS initiative as it stands doesn’t cut the mustard but “if the CAS listen, it could be a real positive for small investors.”


Kivenko says the mutual funds industry treats advisors as their customers instead of investors. He says if this continues it can “ultimately destroy the industry.”


POS is just a small movement to help investors not a looming disaster for manufacturers and sellers of mutual funds, says Mike Macdonald, vice president, consulting, Weigh House Investor Services in Burlington, Ontario. He broadsided the media machinery for “protecting the status quo” while stressing the need for regulators to push forward.



Read entire article:

http://www.advisor.ca/advisors/news/regulatory/article.jsp?content=20100421_142803_6012

Advisor.ca
Vikram Barhat
April 21, 2010

MCCARTHY: BMO, AIG INTEGRATION SEAMLESS

It's been a year since BMO acquired AIG Life of Canada and going by what Peter McCarthy, president and CEO, BMO Life Assurance Company, has to say, it is a marriage made in heaven.


"It's been a very good acquisition both for the bank and for those of us at the insurance company," says McCarthy. "Insurance is one of the pillars of a good financial plan, protecting your assets and protecting your families."


He says the difference between the two organizations lies mainly in their respective cultural backgrounds.


"Both companies were large international companies operating across the world. In this marketplace the scrutiny of public companies is high, so while there was a cultural difference - mostly American versus Canadian as opposed to corporate – I'd say it was much more similar than you would imagine," he said.


The adjustment, he says, "has been very good" and the "acquisition enjoyed a very high support throughout BMO."

Read the entire article:

http://www.advisor.ca/advisors/news/industrynews/article.jsp?content=20100422_111531_10204

Advisor.ca
Vikram Barhat
April 22, 2010

THE REAL SECRET OF THE RICH

If you’ve ever suspected that the rich have access to a closely guarded investment secret the rest of us aren’t privy to, you’re right. But it may not be what you think. There’s no magic investing formula that’s revealed after you make your first million, or a network of sophisticated insider trading intelligence that’s hidden from the rest of us. Rather the rich have access to the rarefied world of the private investment counsel. In this world your investments are personally handled by highly qualified and responsive investing experts, who carefully follow your direction and report back regularly. And believe it or not, the fees are often much lower than what you’re paying now.

Hiring an investment counsel is often considered the next logical step after you’ve worked with a broker or financial planner to grow your portfolio to seven figures. But if you haven’t heard of them, we’re not surprised. Most purposely keep a low profile. In their world, business is built on word-of-mouth, performance speaks for itself, and aggressive advertising would be unseemly. “It’s not a service that’s sold,” explains a senior member of one firm. “It’s a service that’s bought."

Despite their air of exclusivity, if you’re interested in seeing what it feels like to get this financial red carpet treatment, we have good news. You can now gain access to some private investment counsel firms with an investment portfolio of as little as $500,000. That’s still a hefty nest egg, but well within reach of many middle class Canadians approaching retirement age. “It’s a misconception that it’s just for the super-wealthy,” says Warren MacKenzie, president of Weigh House Investor Services of Toronto, which helps investors select private investment counsel. Many firms are willing to take you on for even less than their stated minimums if they see a lot of potential to grow your portfolio.


What sets the counsel apart



Read the full article:



http://ca.finance.yahoo.com/personal-finance/article/moneysense/1542/the-real-secret-of-the-rich

David Aston
MoneySense
Thursday, April 22, 2010