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Generate New Sales: Mark Borkowski

Its your call: How to generate new sales prospects.

Humor me for a second. Think back to the last deal you closed and ask you, “Who was the decision maker I had to reach and influence? How did I do it?”

The reason I asked you to think about that is because there will always be someone you will need to contact and influence to get the next deal and the one after that and all the deals you could ever possibly close in one lifetime. Your success doesn’t just happen. You make it happen, and it all begins with prospecting.

Prospecting is nothing more than the art of speaking with people who might do business with you, and engaging them in a meaningful conversation so that they will want to see you and talk further. Let’s not make it any more complicated than that. At the end of the day a telephone sales call is only a conversation between two people.

Make a list of everyone you just identified. It doesn’t matter if you need to speak with fifty people or only one; your focus is on precision not volume.

Once you have the names write down the main issues facing each person on that list. The reason I’m suggesting that is because you will have to address their issues, not yours.

If you start your conversation rambling on about your products and services you will sound like you’re selling something. When you talk about their issues you hit their Greed Glands which address what’s in it for them. Retirees are not waking up in the morning wanting financial products. (It would be nice.) They are, on the other hand, concerned about the rising cost of living.

Once you’ve worked out what you want to say you will have to get the person on the phone. The objective of your call list is not about making calls. Many financial advisors base their lists on volume, in other words the more names on the list the better because if they don’t contact someone there are plenty more to call. What happens with this approach is that most people end up leaving a lot of money on the table, missing up to 75% of their opportunities, simply by not contacting people. A call is not a commodity. It’s precious.
It would be nice if we were mind readers and knew where our biggest opportunity was, but we don’t so we have to speak with everyone. Your objective is to book appointments.

So whether you have twenty people to call or only one, get them on the phone. All of them. Without exemption.
Leaving a voice message doesn’t count. That only fools you into thinking you contacted someone when in fact all you did was leave a voice message. The easiest way is to ensure that you connect with your prospects is to simply find out when they are in, and then call at that time.

By planning your calls and your message you stay in control.
Once you get your prospect on the phone you will have the opportunity to speak for all of about thirty seconds at which time you will either ask for an appointment or ask a qualifying question. From the time you introduce yourself to the time you ask for an appointment there are less actually than thirty words. Make each word count. The words you speak paint images in people’s minds and you have complete control over what those words are.

Twice as important as what you say will be how you say it. Speak slowly and send the message that what you have to say is important. It’s so important that you will take a minute before the call to focus on how you can make the prospect’s life better, and that will bring out the passion in your voice.

At the end of each call you will either be sitting there with an appointment or you won’t. Either way self-assess to either see what you did well so that you can do it again on the next call, or look at where you need to improve.

If a call does not work out for whatever reason figures out if it was they or you. If there was something you could have done better, make sure to take correction action for the next call and then reward yourself for learning from your mistakes. When you consistently self-assess you stop repeating the same mistakes, and when that happens your performance benchmarks rise as like gravity.
By making yourself more effective you ensure that your next deal will be more successful than your last.

Mark Borkowski – is president of Mercantile Mergers & Acquisitions Corporation. Mercantile is a mid market M&A brokerage firm based in Toronto. Contact: www.mercantilemergersacquisitions.com

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Financial advertising, marketing and sales without the 56% google inefficiency.

Google admits that advertisers wasted their money on more than half of internet ads

By  http://qz.com/author/zwenerflignerqz/

Online advertising is a fickle thing. It accounts for 20% of the ad industry’s total spending, and over 90% of revenue for the internet giants Google and Facebook. That said, no one seems to have any idea whether it actually works.

That uncertainty reached a new high this week, as Google announced that 56.1% of ads served on the internet are never even “in view”—defined as being on screen for one second or more. That’s a huge number of “impressions” that cost money for advertisers, but are as pointless as a television playing to an empty room.

This is not a big revelation. The web metrics company ComScore reported last year that 46% of online ads are never seen. Spider.io, an ad fraud company acquired by Google in February, has pointed out that a large portion of ads are “viewed” only by robots, revealing that one botnet of 120,000 virus-infected computers viewed ads billions of times, running up the tab for advertisers without offering them the human eyeballs they sought.

Still, the acknowledgement by a heavyweight such as Google that ad viewability is a problem could shake up the industry by delaying possible IPOs of ad companies and requiring new ways for advertisers to gauge the effectiveness of their ads.

The nineteenth-century retailer John Wanamaker famously said, “Half the money I spend on advertising is wasted. The trouble is I don’t know which half.” In this case, it’s the obviously the half that pays for ads which are never seen, and now advertisers are looking for new tools to figure out which those are.

It’s worth noting that Google made this acknowledgement of the deficiency of the model it has profited richly from while also offering a new model to advertisers: In July it introduced its Active View product, which measures only viewed ads.

Segregated Funds – no they aren’t – they are Individual Variable Insurance Contracts!

IVICs – quite a mouth full – seg funds is so much easier and shorter.  Despite the street name, these really are variable insurance contracts – they aren’t mutual funds or any other type of fund actually. Also noteworthy – they are not new either – some seg funds trace their roots back to the 1950s.  So why all the hype these days?  Well, the market is several billion dollars – but why?

One of the earliest with which I came into contact was one from North American Life back in 1971 and the next was the SunFund “A” (Sun Life of Canada) back in 1976.  (I’m not that old that I recall specific funds from the 50s and 60s!)  Many other companies had them too – Canada Life, Manulife, Investor’s Group, etc.  These early versions were very uncomplicated compared to the current street models.  They typically came with a very high front-end load or service charges, sometimes as high as 15% on new deposits.  The maturity protection on the funds deposited was a flat 75% of net deposits and was available after 10 years and every 10 years thereafter.  The Death Benefit guarantee was also easy to calculate – 75% of net deposits – period.

No resets, no GMWB, GLWB, no 100% Death Benefits or Maturity Benefits or combinations of 100% death benefits and 75% maturity benefits.  Ah for the simple days of our youth.

While they operate in many respects as do mutual funds, there are significant differences too.  First, they are issued by life insurance companies and the regulation of the products and their sale comes under the Provincial or Territorial Insurance Acts – they are not subject to the rules and regulations that relate to mutual funds or other securities like bonds or stocks, etc.  Second, because they are considered life insurance (refer to their technically correct name above) they have the attributes of other life insurance products (whether they are non-registered or issued as part of RRSPs, RRIFs, TFSAs or RESPs) such as the ability to have a named beneficiary thus the proceeds on death pass outside the estate of the deceased.  This saves time and money – no probate fees, no lawyer needed to claim benefits, etc.  As a result of this feature, their third attribute can be important to many people, they enjoy enhanced creditor protection compared to mutual funds, bank accounts, GICs, Term Deposits, stocks or bonds.

All investments have costs associated with them and seg funds are no exception.  Compared to mutual funds, the Management Expense Ratios (MERs) are generally higher than mutual funds due to the costs of providing guarantees on death and maturity.  Additional costs are imposed by the “life insurance” wrapper involving creditor protection and beneficiary appointment provisions.

Some insurance companies offer various “add-ins” such as a guaranteed minimum withdrawal benefit or guaranteed lifetime withdrawal benefit plus the ability to “reset” your guaranteed values if you desire.  Just as buying a car, the more bells and whistles, the more they cost.  Be sure you understand these additional options, their costs and benefits before you make your final purchase decision.

GMWB – Guaranteed Minimum Withdrawal Benefit is a feature that is available for an additional cost and, as the name implies, when the contract matures (at a date of your choosing, within limits) the insurance company guarantees that a minimum monthly withdrawal benefit will be paid for a fixed period.  The GLWB – Guaranteed Lifetime Withdrawal Benefit – also for an additional cost, provides a certain level of income for the rest of your life – regardless of how long you live.

“Resets” allow you to lock-in market increases, should you so desire.  The result however, is that your 10-year maturity guarantee period starts at zero again – be careful how you use this feature.  Some companies restrict its use to once or twice per year – check with your advisor before you buy.

All companies selling these products provide advisors with the ability to illustrate various scenarios that will show how these products perform – up markets, down markets – erratic markets – you name it!

Some of the reasons, other than the “life insurance” wrapper benefits, that clients choose seg funds over mutual funds are obviously the availability of guarantees.  Having the guarantees in place allows people, perhaps, to invest above their “normal” risk tolerance level.  The enhanced creditor protection is of great value to business owners and professionals in our increasingly litigious society.  The ability to have named beneficiaries protects the privacy of the deceased, designations are not contestable (in the absence of fraud) and don’t require the owner to treat all beneficiaries either equitably or equally as is the case when distributions to heirs go via your Will.

Consider them carefully, they may be a good fit for some of the basics of your long-term plans!

Mutual Fund Companies

ABC Funds
Acker Finley
ACM Advisors Ltd.
AEGON Fund Management Inc.
Includes: AEGON imaxxFunds, AEGON imaxxFunds Class F.
AGF Funds
Includes: Acuity Mutual Funds, Acuity Mutual Funds Cl F, Acuity Mutual Funds Cl T, Acuity Mutual Funds Cl V, Acuity Pooled, Acuity Soc Resp Invest, AGF Group C$ Series B, AGF Group U$ Series B, AGF Investment Funds Cl X, AGF Management – Pooled, AGF Management Ltd., AGF Management Ltd. U$, AGF Management Ser F C$, AGF Management Ser F U$, AGF Management Ser G C$, AGF Management Ser H C$, AGF Management Ser O C$, AGF Management Ser T C$, AGF Management Ser V C$, AGF Management Series D, Harmony “One Ticket” , Harmony Investment Pools.
AIC Funds
Includes: AIC Advantage Corp Group, AIC Advantage Group, AIC Advantage Group Cl F, AIC Balanced Corp Group, AIC Corp Specialty Grp, AIC Corporate Group Cl F, AIC Diversified Corp Grp, AIC Diversified Group, AIC Diversified Group F, AIC Focused Corp Group, AIC Focused Group, AIC Focused Group F, AIC Income Corp Group, AIC Income Group, AIC Income Group F, AIC Managed Solutions A, AIC Managed Solutions F, AIC Managed Solutions I, AIC Seg-100%Guar(Transam), AIC Seg-75% Guar(Transam), AIC Specialty Group, AIC Specialty Group F.
Ark Fund Mgmt.
Includes: Ark Fund Management Cl F, Ark Fund Management Cl M, Ark Fund Management Cl N, Ark Fund Management Ltd..
Arrow Capital Management Inc.
Includes: Arrow Absolute Return Ser, Arrow Capital Mgmt Inc F, Arrow Fund of Funds, Arrow Global Income Ser, Arrow Income Series, Arrow North American Ser, Arrow Portfolio Series.
Artemis Investment Management
Aston Hill Management
Aurion Capital Mgmt Inc.
Barometer Capital
Includes: Barometer Capital, Barometer Capital Class F.
Barreau Du Quebec
BC Advantage(VCC) Funds Ltd.
Beutel Goodman
BirchLeaf Investments Inc.
Black Creek Investment Mgmt
Blackheath Fund Mgmt
BlackRock Asset Management
BluMont Capital
Includes: BluMont Capital, BluMont Premiere Funds, Exemplar Portfolios.
BMO Mutual Funds
Includes: BMO – Matchmaker Port, BMO Asset Management , BMO ETFs, BMO Investment Inc., BMO Investment Ser I, BMO Nesbitt Burns Group F.
BMO Nesbitt Burns Linked Notes
Includes: BMO Nesbitt Burns – MTL, BMO Nesbitt Burns LinkNts.
Brandes Investment Partner&Co.
Includes: Brandes Funds, Brandes Funds Class Cl I, Brandes Funds Class F, Brandes Funds Class F U$, Brandes Funds Class L, Brandes Funds Class L U$, Brandes Funds Class M, Brandes Funds Class M U$, Brandes Funds U$, Brandes Sionna Funds.
Brigata Capital Management
Bullion Management Services
Caldwell Mutual Funds
Includes: Caldwell, Urbana Corporation.
Canada Life
Includes: Canada Life, Canada Life Funds 100/100, Canada Life Funds 75/100, Canada Life Funds 75/75, Canada Life Generations, Canada Life Gens Core.
Canoe Canadian Fund
Canso Fund Management
Capital Intl Asset Mgmt Canada
Includes: Capital International F, Capital Intl Class B, Capital Intl Class D, Capital Intl Class H, Capital Intl Class I, Capital Intl Funds, Capital Intl Funds U$.
Cdn General
Cdn World (Closed End)
Includes: Cdn World (Closed End), Third Cdn Gen Invest Ltd.
Chou Associates
Includes: Chou Associates, Chou Associates Series F.
CI Investments Inc.
Includes: BPI Legacy Funds (TA) I, BPI Legacy Funds II, Castlerock Investments, CI – CLARICA MVP, CI – CLARICA PORTFOLIO, CI Cambridge Funds C$, CI Cambridge Funds U$, CI Corporate Class C$, CI Corporate Class F, CI Corporate Class U$, CI GIF A 100/100(TRANSAM), CI GIF B 75/100 (TRANSAM), CI Harbour Funds C$, CI Harbour Funds C$ Cl F, CI Invest Inc(Closed End), CI Investments (CE), CI Investments CC O, CI Investments Corp Cl E, CI Investments Inc Cl H, CI Investments Inc I U$, CI Investments Inc. C$, CI Investments Inc. Cl F, CI Investments Inc. Cl I, CI Investments Inc. Cl T5, CI Investments Inc. Cl T8, CI Investments Inc. Cl U, CI Investments Inc. Cl V, CI Investments Inc. Cl Y, CI Investments Inc. Cl Z, CI Investments Inc. U$, CI Opps Funds C$, CI Opps Funds U$, CI Portfolio Funds, CI Portfolio Funds Cl F, CI Portfolio Funds U$, CI Portfolio Select Ser A, CI Portfolio Select Ser F, CI Portfolio Select Ser W, CI Seg Funds(Unity Life), CI Signature Class F, CI Signature Funds C$, CI Signature Funds U$, CI SW Elite + 75/100 – SL, CI SW Elite 100/100 – SL, CI SW Elite 75/100 – SL, CI SW Elite 75/75 – SL, CI SW Elite+ 100/100 – SL, CI SW Elite+ 75/75 – SL, CI Synergy Funds Class F, CI-SunWise Elite (Basic), CI-SunWise Elite (C), CI-SunWise Elite (Full), CI-SunWise Elite PMA, CI-SunWise I (75%), CI-SunWise I (100%), CI-SunWise II (Basic), CI-SunWise II (Basic) 01, CI-SunWise II (Comb) 2001, CI-SunWise II (Combined), CI-SunWise II (Full), CI-SunWise II (Full) 2001, CI-SW Essent PMA, CI-SW Essent Retail Est, CI-SW Essent Retail Inc, CI-SW Essent Retail Inv , CI-Synergy Mutual Funds, GrowthWorks/ENSIS, Insight Units, Lakeview Asset Mgmt, Portfolio Select Series, Portfolio Select Series F, Portfolio Select Series W, Sun Fund, United – Investment F, United – Investment Pools, United Corp Class E Pool, United Corporate Class I, United Investment Pools A, United Pools Class E, United Pools Class I, VentureLink Funds.
CIBC Asset Management
Includes: CIBC Funds, CIBC Index Funds, CIBC Managed Portfolios, CIBC Managed Portfolios T, CIBC Market Neutral, CIBC Pooled Funds, CIBC Port Asset Alloc, CIBC U$ Mgd Portfolios, CIBC U$ Mgd Portfolios T, Renaissance Elite Class, Renaissance Select Class.
CIBC World Markets
Claymore Investments Inc.
Includes: Claymore – Advisor Series, Claymore – Common Class.
Compass Portfolio Series
Connor, Clark & Lunn
Includes: CCL Capital Markets Inc., Connor, Clark & Lunn MP.
Co-operators Life
Counsel Portfolio Services Inc
Includes: Counsel Altus Managed Pt, Counsel Group of Funds F, Counsel Group of Funds I, Counsel Portfolio Serie D, Counsel Portfolio Serie E, Counsel Portfolio Series, Counsel Portfolio Service.
Covington Capital Corporation
Creststreet Asset Management
Crystal Wealth
Desjardins Financial Security
Includes: Desj Fin Secur-Helios, Desjardins Fin Security.
Desjardins Funds
Includes: Desjardins Funds, Desjardins Select Funds, Desjardins Tax Advantage , Desjardins/CI Funds, Desjardins/Fidelity Funds.
Dimensional Funds
Includes: Dimensional Funds Class A, Dimensional Funds Class F.
Discovery Capital
Dominion Equity
Dynamic Mutual Funds
Includes: Dynamic Alt Strategies, Dynamic Aurion, Dynamic Blue Chip Funds, Dynamic Closed-End, Dynamic Funds Class F, Dynamic Funds Class I, Dynamic Funds Series O, Dynamic Funds Series OP, Dynamic Income Funds, Dynamic IP Series, Dynamic Managed Portfolio, Dynamic Power Funds, Dynamic Specialty Funds, Dynamic Strategic Port, Dynamic Value Funds, Dynamic Value Funds S, Dynamic Venture Opport, DynamicEdge Portfolios A, DynamicEdge Portfolios F, DynamicEdge Portfolios FT, DynamicEdge Portfolios I, DynamicEdge Portfolios IT, DynamicEdge Portfolios O, DynamicEdge Portfolios T, Goodman Private Wlth Mgmt, Marquis Institutional A, Marquis Institutional C, Marquis Institutional O, Marquis Institutional T, Marquis Institutional V, Marquis Pools Series A, Marquis Pools Series C, Marquis Port Solutions F, Marquis Port Solutions A, Marquis Port Solutions T, Marquis Port Solutions V, Marquis Series I.
EdgePoint Wealth Management
Includes: EdgePoint B, EdgePoint F, EdgePoint I, EdgePoint Wealth Mgmt.
Educators Financial Group
Empire Life
Includes: EFG Concordia Funds, Empire Financial Group A, Empire Financial Group-D, Empire Financial Group-E, Empire Fincncial Group G, Empire Life Insur Comp A, Empire Life-B, Empire Life-C.
Enervest Funds Management
Equitable Life
Includes: Equitable Life, Equitable Life B.
Ethical Funds
Includes: Ethical Funds, Ethical Funds Class D, Ethical Funds Class F.
Excel Funds Management
Includes: Excel Funds Management, Excel Funds Mgmt Inc..
Faircourt Asset Management Inc
Fed Medecins Omni
FI Capital
Fidelity Investments
Includes: Fidelity Cap Struct Cp F, Fidelity Capital Str B, Fidelity Capital Struct, Fidelity Focus C$ Ser F, Fidelity Focus Fds C$ SrA, Fidelity Focus Fds SrA U$, Fidelity Focus U$ Ser F, Fidelity Funds U$ Serie F, Fidelity Invest C$ Ser A, Fidelity Invest C$ Ser F, Fidelity Invest Series F8, Fidelity Invest Series S8, Fidelity Invest Series T8, Fidelity Invest U$ Ser A, Fidelity Investment F5, Fidelity Investment T5, Fidelity Investments I5, Fidelity Investments I8, Fidelity Investments S5, Fidelity Series B C$, Fidelity Series B U$, Fidelity Series I C$, Fidelity Series O C$.
Fiera Capital
First Asset Funds Inc.
Includes: Criterion Investments Inc, First Asset Funds Inc., Onex Credit Partners, XTF Cap eXchang Traded.
First Trust Portfolios
Includes: First Trust Portfolios C$, First Trust Portfolios F, First Trust Portfolios U$.
Folk World Markets Inc.
Fonds de Croissance Select
Formula Growth Fund
Includes: Formula Growth , Formula Growth Limited F, Formula Growth Limited X, Formula Growth Limited Y.
Franklin Templeton Investments
Includes: Bissett Pooled Trusts, Franklin Templeton R, Franklin Templeton Ser S, Franklin Templeton T, Franklin Tmpltn Series S, Frnklin Tmpltn Class F C$, Frnklin Tmpltn Class F U$, Frnklin Tmpltn Class I C$, Frnklin Tmpltn Class I U$, Frnklin Tmpltn Class O U$, Frnklin Tmpltn Class T C$, Frnklin Tmplton Cl O C$, Frnkln Tmpltn-TempletonC$, Frnkln Tmplton-Tapestry, FrnklnTempltn Investments, FrnklnTmpltn-Bissett-A, FrnklnTmpltn-Bissett-A U$, FrnklnTmpltn-Bissett-F C$, FrnklnTmpltn-Bissett-F U$, FrnklnTmpltn-Franklin C$, FrnklnTmpltn-Franklin U$, FrnklnTmpltn-MutualSer C$, FrnklnTmpltn-Templeton U$, Templeton GIF (Allianz), Templeton Pooled Trusts.
Friedberg Mercantile Group
Front Street Capital
FrontierAlt Funds
Galileo Funds
GBC Asset Management
Gestion de Portefeuille Natcan
Great-West Life
Includes: Great-West Life – DSC, Great-West Life – NL, Great-West Life 100/100, Great-West Life 75/100, Great-West Life 75/75.
Guardian Funds
Includes: BMO GDN LifeStage Port, GGOF Diversified – Mutual, GGOF Diversified- Classic, GGOF Equity Funds – Cla, GGOF Equity Funds – Mut, GGOF F Units Class, GGOF Funds Series T, GGOF Income Funds -Mutual, GGOF Income Funds-Classic, GGOF Series H, GGOF Solutions.
Highstreet Asset Management
Highwater Capital Management
Hillsdale Investment Mgmt
Horizons Funds
Includes: Horizons AlphaPro ETFs, Horizons BetaPro ETF’s, Horizons BetaPro Funds, Horizons Funds.
HR Strategies Inc
HSBC Funds
Includes: HSBC Funds Adv Ser U$, HSBC Funds Advisor Ser C$, HSBC Funds Inst Ser C$, HSBC Funds Inv Ser C$, HSBC Funds Inv Ser U$, HSBC Funds Mgr Ser C$, HSBC Pooled Funds, HSBC Premium Series.
IA Clarington
Includes: IA Clarington GIF, IA Clarington GIF A, IA Clarington Invest B, IA Clarington Invest C$, IA Clarington Invest F, IA Clarington Invest L, IA Clarington Invest M, IA Clarington Invest Sr I, IA Clarington Invest US$, IA Clarington Series E, IA Clarington Series FT, IA Clarington Series T, IA Clarington X, IAClarington Investments .
Independent Order of Foresters
Includes: FGF Plus, Foresters (VA).
Industrial Alliance
Includes: IA – Focus, IA – Glo Hybrid, IA -Cdn Hybrid, Ind Alliance – Cdn Equity, Ind Alliance – Distinctio, Ind Alliance – Hedge Fund, Ind Alliance – Income, Ind Alliance – Specialty, Ind Alliance – US & Intl, Ind Alliance- Diversified, Ind Alliance-XN/A NewCont, Industrial Alliance.
Industrial Alliance Pacific
Includes: IA Pacifique – Focus, IAP – Apex Funds, IAP – Cdn Equity, IAP – Cdn Hybrid, IAP – Distinction, IAP – Diversified, IAP – Glo Hybrid, IAP – Income, IAP – Specialty, IAP – US & Intl Equity, IAP – XN/ANewCont, Industrial All Pacific.
Integra Mutual Funds
Invesco Canada Ltd.
Includes: Invesco Canada Core C$, Invesco Canada Ltd, Invesco Canada Ltd ETF, Invesco Canada Ltd F U$, Invesco Canada Ltd U$, Invesco Canada Seg (AIG), Invesco Canada Series D, Invesco Canada Series F, Invesco Canada Series FH, Invesco Canada Series H, Invesco Canada Series I , Invesco Canada Series P, Invesco Canada Series PF, Invesco Canada Series PH, Invesco Canada Series T, Invesco Cdn Ltd Series F, PowerShares Mutual Funds.
Investors Group
Includes: Inv Group (Great-West), Inv Group/AGF, Inv Group/AGF Series A, Inv Group/Allegro Ser A, Inv Group/Alto Ser A, Inv Group/Alto Ser B, Inv Group/Alto Ser C, Inv Group/Alto Ser T, Inv Group/Alto Ser TC, Inv Group/Beutel, Inv Group/Beutel Series A, Inv Group/Bissett Ser A, Inv Group/Bissett Ser C, Inv Group/FI, Inv Group/FI Series A, Inv Group/Goldmansachs, Inv Group/Goldmansachs A, Inv Group/Mackenzie, Inv Group/Mackenzie Ser A, Inv Group/Mackenzie Ser C, Inv Group/Sceptre/Putnam, Inv Group/Templeton, Inv Group/Templeton Ser A, Investors Group, Investors Group Series A, Investors Group Series B, Investors Group Series T, Investors Group/Allegro , Investors Grp Corp Class, Investors Grp GIF 100/100, Investors Grp GIF 75/75, Investors Grp GIF75/100, iProfile Pool.
Joel Raby Asset Management Inc
JovFunds Management Inc.
Includes: JovFunds Inc Series A, JovFunds Management Inc., JovFunds Management Ser F, JovFunds Management Ser I, JOVFunds Management T.
Kensington Capital
Landry Morin Inc.
Leeward Capital Management Inc
Legg Mason Canada Funds
Leith Wheeler
Lincluden Management Ltd.
Lions Investment Mgmt Ltd.
London Life
Includes: London Life Funds, London Life Funds 100/100, London Life Funds 75/100, London Life Funds 75/75.
Lycos Asset Management Inc.
Mackenzie Group of Funds
Includes: Mac Focus Funds Ser F, Mac Focus Funds Ser I, Mac Focus Funds Ser O, Mac Focus Seg , Mac MAXXUM Funds F Series, Mac MAXXUM Funds G Series, Mac MAXXUM Funds I Series, Mac MAXXUM Funds O Series, Mac MAXXUM Funds P Series, Mac Universal Class F U$, Mack Alt Strategies, Mackenzie Cund Seg (GWL), Mackenzie Cundill C$, Mackenzie Cundill Cl F, Mackenzie Cundill Cl I, Mackenzie Cundill Cl O, Mackenzie Cundill Class G, Mackenzie Cundill P, Mackenzie Cundill U$, Mackenzie Focus Funds C$, Mackenzie Focus Funds U$, Mackenzie Funds, Mackenzie Ivy Class F, Mackenzie Ivy Class G, Mackenzie Ivy Class I, Mackenzie Ivy Class O, Mackenzie Ivy Funds C$, Mackenzie Ivy Funds U$, Mackenzie Ivy Seg (GWL), Mackenzie Ivy Series P, Mackenzie MAXXUM, Mackenzie MAXXUM Seg, Mackenzie MAXXUM U$, Mackenzie Saxon F, Mackenzie Saxon Funds, Mackenzie Saxon Funds I, Mackenzie Saxon Series O, Mackenzie Sentinel C$, Mackenzie Sentinel C$ F, Mackenzie Sentinel C$ G, Mackenzie Sentinel C$ I, Mackenzie Sentinel C$ O, Mackenzie Sentinel Seg , Mackenzie Sentinel U$, Mackenzie Series D, Mackenzie Series E C$, Mackenzie Series F C$, Mackenzie Series G C$, Mackenzie Series I C$, Mackenzie Series J C$, Mackenzie Series O C$, Mackenzie Series P C$, Mackenzie Symmetry, Mackenzie Symmetry F, Mackenzie Symmetry I, Mackenzie Symmetry O, Mackenzie Symmetry P, Mackenzie Symmetry Ser G, Mackenzie Symmetry T, Mackenzie Symmetry W, Mackenzie Univ Seg (GWL), Mackenzie Universal C$, Mackenzie Universal Cl F, Mackenzie Universal Cl G, Mackenzie Universal Cl I, Mackenzie Universal Cl O, Mackenzie Universal Cl T, Mackenzie Universal Sr P, Mackenzie Universal U$, Quadrus Investment H5, Quadrus Investment H8, Quadrus Investment Ser N, Quadrus Investment Ser Q, Quadrus Investment Serv.
Man Investments Canada Corp
Manulife Financial
Includes: Manulife – D Class, Manulife Advisor, Manulife Cabot Funds Cl A, Manulife Class F, Manulife Class H, Manulife Class I, Manulife Class IT, Manulife Class O, Manulife Class T, Manulife Class T5, Manulife Class X, Manulife Financial, Manulife Financial Cl E, Manulife Financial GIF, Manulife Financial GIF 2, Manulife Financial GIF e, Manulife Financial GIF e2, Manulife GIF Select, Manulife MIX Funds, Manulife Pool, Manulife Series B, Markland Street.
Maritime Life
Includes: Manulife – Series B, Manulife – Series C, Manulife – Series G, Manulife-Series A, Maritime Life – Series R, Maritime Life Elite Port, Maritime Life Series F, Maritime Life Triflex , ML Financial Fitness.
Marquest Asset Mgmt Inc.
Matrix Asset Management
Includes: Matrix Asset Management, Matrix Fund Management F, Matrix Funds Corp Class, Mavrix Series I.
Mawer Investment Mgmt Ltd.
Includes: Mawer Invest Mgmt Cl O, Mawer Investment Mgmt Ltd.
McElvaine Investment
McLean Budden
Includes: MB Pooled Funds, McLean Budden, McLean Budden Class A, McLean Budden Class F.
MD Management Limited
Includes: MD (Physician) Sr. T, MD Physician Services.
Meritas Financial Inc.
Includes: Meritas Soc Resp Ser F, Meritas Social Resp..
Middlefield Group
Mineralfields Fund Mgmt. Inc.
MMA Investment Portfolios
Montrusco Bolton Inc.
Includes: Montrusco Bolton Funds C$, Montrusco BT-B.
MTC Growth
National Bank Mutual Funds
Includes: Nat Bank – Meritage F, Nat Bank – Meritage Port, Nat Bank Divers Funds, Nat Bank-Meritage T, National Bank Adv Sr (FE), National Bank Advisor-DSC, National Bank Advisor-LL, National Bank E Series, National Bank F Series, National Bank Funds, National Bank O/M Series, National Bank Prot Funds, National Bank R Series , National Bank Series T, National Bank Strategic, National Bank/Fidelity, National Bank/Omega, NBDB.
National Bank of Canada
NB Split Corp.
Nexgen Financial
Includes: NexGen Financial Ltd F , NexGenFinancial .
Norrep Inc.
North Growth Management Ltd.
Northwest Mutual Funds
Includes: Northwest Corp Grp Cl A, Northwest Mutual Series A, Northwest Mutual Series F, Northwest Mutual Series T.
OFM Funds Group Inc.
Palos Management Inc.
PenderFund Capital Mgmt
Phillips, Hager & North
Includes: PH&N Advisor Series, Phillips, Hager & North, Phillips, Hager & North C, Phillips, Hager & North O, PHN Series B, PHN Series F.
Picton Mahoney
Portland Investment Counsel
Includes: Primerica Common Sense, Primerica Concert.
Primevest Capital Corp.
Pro-Financial Asset Management
Propel Capital Corporation
QFM Fund Management Inc.
Quebec Professionals’ Fund
Qwest Funds Corp.
R.N. Croft Financial Group Inc
RBC Global Asset Mgmt Inc.
Includes: RBC – Advisor Series, RBC Funds – RBC Funds, RBC Funds – RBC Index, RBC Funds-Advisor Corp, RBC Mutual Funds Ser D, RBC Mutual Funds Ser F, RBC Mutual Funds Ser I, RBC Mutual Funds Ser O, RBC Mutual Funds Ser T, RBC Mutual Funds Series Y.
RBC Life Insurance Company
Includes: RBC Insurance GIF-Ser I, RBC Insurance GIP-Ser 1, RBC Insurance GIP-Ser 2, RBC Life Insurance Co.
Redwood Asset Management Inc
Renaissance Investments
Includes: Frontiers Pooled Class O, Renaissance Funds, Renaissance Funds Class F, Renaissance Funds Class O, Renaissance Funds T.
Resolute Funds Ltd.
Return On Innovation Fund Inc.
Russell Investments
Includes: Rusell Investments Cl O, Russell Investments Cl A, Russell Investments Cl B, Russell Investments Cl E, Russell Investments Cl F, Russell Investments Cl I.
Salida Capital Corp.
Sask Works Ventures Fund Inc.
Saxon Mutual Funds
Includes: Saxon Mutual Funds A Ser, Saxon Mutual Funds Cl F.
Sceptre Investment Counsel
Includes: Sceptre Funds, Sceptre Funds Class F, Sceptre Funds Class O.
Scotia Capital
Scotia Mutual Funds
Includes: Scotia Asset Mgmt Class I, Scotia INNOVA Portfolios, Scotia Mutual – Advisor, Scotia Mutual Funds, Scotia Mutual Funds Cl F, Scotiabank Funds.
SEI Investments Canada Company
Includes: SEI Investments – D Class, SEI Investments – E Class, SEI Investments – F Class, SEI Investments – I Class, SEI Investments – O Class, SEI Investments – P Class, SEI Investments – R Class, SEI Investments – S Class.
Sentry Select Capital Corp
Includes: Sentry Select Cap F Cl, Sentry Select Cap I Class, Sentry Select Capital , Sentry Select Capital Crp.
SFCS Capital (Canada) Corp.
Spartan Fund Management
Sprott Asset Management
Includes: Sprott 2010 Corporation, Sprott Asset Management.
SSQ Funds
Standard Life
Includes: SL Ideal – Platinum 100, SL Ideal – Platinum 75, SL Ideal Income – PLTN, SL Ideal Income (GLWB), Standard Life A-Series, Standard Life Corp Cl A, Standard Life E-Series, Standard Life F-Series , Standard Life Ideal RST, Standard Life Ideal Seg, Standard Life Legend, Standard Life P – Series, Standard Life SI Ideal 75, Standard Life SI Ideal100, Standard Life T-Series.
Stanton Asset Management Inc.
Includes: O’Leary Funds Mgmt , O’Leary Funds Mgmt F, O’Leary Funds Mgmt H, O’Leary Funds Mgmt I, O’Leary Funds Mgmt M, O’Leary Funds Mgmt T, O’Leary Funds Mgmt X.
Sterling Group of Funds
Stone & Co. Limited
Includes: Stone & Co. Limited Cl F, Stone & Co. Limited Ser A, Stone & Co. Limited Ser B, Stone & Co. Limited Ser C, Stone & Co. Limited Ser L, Stone & Co. Ltd Ser T8A, Stone Funds Series T8B, Stone Funds Series T8C.
TD Asset Management Inc.
Includes: TD Advant Invest Ptf – F, TD Advant Invest Ptf – H, TD Advant Invest Ptf – S, TD Advant Invest Ptf – T, TD Advant Invest Ptf -Adv, TD Advant Invest Ptf -Inv, TD Comfort Port – Inv Ser, TD e-Series Funds, TD Funds-Invest Series U$, TD GIF I, TD GIF II (TA), TD GIF II (TA) Class A, TD GIF II (TA) Class B, TD Index Funds – Inv Ser, TD Institutional Series, TD Managed Portfolios – H, TD Managed Portfolios – K, TD Managed Portfolios – T, TD MAP FundSmart Ptfl – H, TD MAP FundSmart Ptfl – K, TD MAP FundSmart Ptfl – T, TD MAP FundSmart Ptfl-Adv, TD MAP FundSmart Ptfl-Inv, TD MAP FundSmart Ptfl-Pre, TD MAP Idx ePortfolios, TD MAP Index Ptfls-InvSer, TD MAP Mgd Ptfls-Adv. Ser, TD MAP Mgd Ptfls-Inv. Ser, TD MAP Mgd Ptfls-Pre. Ser, TD Mutual Funds Adv U$, TD Mutual Funds Adv. Ser, TD Mutual Funds Inv. Ser, TD Mutual Funds Premium , TD Mutual Funds Series F, TD Mutual Funds Series H, TD Mutual Funds Series S, TD Mutual Funds Series T.
Terra Fund Management Ltd.
The Goodwood Fund
Tradex Management Inc.
Transamerica Life Canada
Includes: Transamerica 5FL Seg, Transamerica GIF, Transamerica Growsafe, Transamerica GS3 100/100, Transamerica GS3 75/100, Transamerica GS3 75/75, Transamerica Life Canada, Transam-imaxxGIF 100/100, Transam-imaxxGIF 75/100, Transam-imaxxGIF 75/75.
Value Partners Investments
Van Arbor Asset Mgmt Ltd
Venator Capital Mgmt. Ltd.
Vertex One
VMD-McLean Budden LifePlan
W.A. Robinson & Associates
Webb Asset Management
West Face Capital Inc.


Back Office

Back Office Software
Back Office

Back Office Canada

Growth in the mutual fund industry has slowed down substantially, and for dealers to succeed in the highly competitive industry, they must focus on improving their technology, back office and financial planning support offerings, a recent study suggests.

Chuck Grace, a lecturer at the Richard Ivey School of Business and a management consultant with Fusion Consulting, presented results on Monday of a recent study by Fusion Consulting, a firm that focuses on investment fund distribution in Canada.

The study, completed in June, surveyed 12 mutual fund dealers and 20,000 advisors, covering 70% of the assets governed by the Mutual Fund Dealers Association of Canada.

It found that advisors were largely satisfied with their dealers’ offerings in the areas of products, support, compensation, compliance and stability. These are all critically important offerings, most of which are correlated with asset growth and distribution network growth, and firms must continue to keep advisors satisfied in these areas to survive in the industry, according to Grace.

“You’ve just got to have it to keep up,” he said, speaking at the Univeris 2010 Summit in Toronto.

The advisors surveyed were less impressed with their dealers’ technology, front office and back office offerings.

“Technology, back office and front office appear to be the weak part of the equation,” Grace said. “The advisors are saying they’re not getting all the value they need from those three areas.”

On the front office side, he said advisors are particularly unimpressed with financial planning support from their dealers.  “No one’s doing a great job on financial planning,” he said. “No one’s delivering a lot of value or executing, and you’re all doing it the same way.”

He noted that many dealers leave the financial planning process up to advisors, in an effort to provide each advisor with flexibility in their approach. But advisors are now asking for more support.

This is one area where dealers should innovate to set themselves apart, according to Grace. “There’s an opportunity to differentiate your practice, your dealership and your advisors in the marketplace.”

Fund industry slows down

Differentiation in the industry has become critical as growth as slowed down. Fusion’s study found that mutual fund dealers experienced very little growth in net sales, distribution network growth and market share growth in the 12 months ending June 30th.

“Top line growth has stalled, and I don’t see it changing,” Grace said. “I don’t see double-digit top-line growth in your futures – not within the existing mutual fund dealership model.”

He said investment returns will decline in the years ahead, which will limit asset growth for the industry.

“Assets are going to be pretty flat by the standards that some of us grew up with in the 80s and 90s.”

Growth in the industry’s distribution network has also slowed down. And with many advisors preparing to retire in the next few years, the distribution base could begin to shrink.

Grace pointed out that the only dealers that experienced growth in their advisor networks in the past year were firms that hire rookie advisors.

“If you’re looking to grow your firm on the backs of seasoned veterans, I can’t find any evidence that it’s working,” he said.

In order for dealers to grow in this challenging environment, Grace said they should look beyond mutual funds to stocks, exchange traded funds, insurance and other products.

“If you want to grow your top line, you’re going to have to get out from underneath mutual funds,” he said. “If you don’t have access to it all, you’ve handcuffed yourself to a 2% industry. You’ve got to get beyond that if you want to see some double-digit change in your business.”

Megan Harman

Investment MarketPlace

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