Newcom

MAY 2020
24 PAGES
CANADA’S NEWS SOURCE FOR FINANCIAL PROFESSIONALS
COVID-19
INSIDE
NEWS
COMING SOON? Economists speculate about when the lockdown will lift. PG. 1
PENSIONS OSFI has frozen transfers out of federally regulated defined-benefit plans. PG. 1
TOPSY-TURVEY Solid corporate debt is languishing, but short-dated government notes are thriving. PG. 7
BYB
DOING YOUR HOMEWORK How to keep your team engaged, motivated and productive while they work from home. PG. 17
GREEN WAVE Millennial clients are increasingly interested in responsible investing, and ignoring this trend would be a mistake. PG. 18
PROFILE Shaun Darchiville, a financial advisor in Toronto, has good rapport with
his clients and his older colleagues. PG. 19
FOCUS ON PRODUCTS
A GOOD START Canadian equity balanced funds began the year in a strong position before the coronavirus hit. PG. 21
INSIGHT
EDITORIAL Brokerage advisors are in a good position to endure this incomparable storm. PG. 22
OTTAWA Watch for widespread change stemming from the coronavirus pandemic. PG. 22
A POSITIVE NOTE
JAIME HOGGE
Shaun Darchiville, a financial advisor with MacDougall, Mac- Dougall & MacTier in Toronto, says he entered the industry with “the right attitude” and a strong work ethic. He still finds time to indulge his passion for music in his home studio.
The shape of the economy’s recovery
While some industries will struggle post- pandemic, others will thrive
BY JAMES LANGTON
as investors come to grips with the massive drop in
economic output inflicted by the outbreak of Covid-19, the focus is turning to the aftermath: What will the recovery look like, and what will “normal” mean in a post-pandemic world?
From the outset, it was evident that the depth and breadth of the economic fallout would be dictated by the trajectory of the disease. Once the infection rate begins subsiding, some curbs on economic activity should loosen gradually, thus allowing a recovery to take hold.
Current infection modelling points to the disease reaching its
REGULATION
Enhanced
investor
protection
needed
Covid-19 fallout increases risks to investors, advocates say
BY JAMES LANGTON
the fallout from the
Covid-19 pandemic has prompted regulators to provide Bay Street with a variety of relief measures — a move that has investor advocates wondering where the help is for Main Street.
Amid the spike in financial
> TURN TO INVESTOR / PAGE 4
> TURN TO ECONOMY / PAGE 4 RETIREMENT
Freeze on pension transfers
OSFI’s ban on commuted value transfers puts pension members in limbo
BY RUDY MEZZETTA
the decision by the office
of the Superintendent of Finan- cial Institutions (OSFI) to freeze transfers out of federally regu- lated defined-benefit (DB) pen- sion plans is likely to lead to confusion among plan members, experts say. However, the regu- lator’s move was not surprising,
> TURN TO FREEZE / PAGE 6
2020
Brokerage Report Card See pages 8–16
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