Participating life helps drive Canadian insurance sales, but wealth sales drop 23%
Within wealth management, retail net inflows dropped 80%
Wealth management and individual insurance sales dropped at iA Financial
Richardson Wealth parent firm posted $5.3-million net loss in first quarter
Net flows decreased by 60% to $990 million from $2.5 billion a year earlier
Turmoil at the bank has simmered down, but challenges for Credit Suisse and the takeover deal have not
RF Capital CEO Kish Kapoor attributed the problems to technology issues, data transfer challenges and user training
The quarter included a $1.6-billion charge to settle a lawsuit
The results were helped by a reversal of an impaired loan writeoff
Revenue in wealth management was up 8%