Regional managers are overseeing the reassignment of clients to veteran advisors following the dismissal of approximately 400 primarily younger advisors
The financial giant has let 400 advisors and 80 administrative staff go in recent months
The decision came as a result of a new provision in this year’s federal budget relating to mutual fund mergers
The firm will also be lowering fees between 0.25 bps and 8.6 bps on several funds, even if proposed mergers fail to gain approval
The new no-load series being added to Investors Real Property Fund is expected to be introduced in mid-January
The new separately managed account program and fee-based account will take care of HNW clients’ needs that mutual funds cannot
Fees on no-load funds will be reduced
New risk rating for Investors Global Fixed Income Flex Portfolio
Barry McInerney replaces Jeff Carney as head of Mackenzie Investments while Carney replaces the retiring Murray Taylor as head of Investors Group
Mackenzie Financial’s Jeff Carney is set to take the reins at IG