This essay Industry has a total of 2367 words and 11 pages.
The investment industry is composed of a wide variety of firms. The main players include independent full line brokerage firms, investment bank subsidiaries of chartered banks, and discount brokers. Independent full line brokerage firms offer a wide range of services, including underwriting, trading of stocks, advice and research. In essence, the full service brokerage subsidiaries of chartered banks offer the same services, however, banks\' brokerage firms may have a larger pre-established clientele. Finally, the discount brokers are basic stock brokers that perform trades for clients who do not want investment advice. Usually, this service is targeted toward the sophisticated investor who does his/her own research to incur minimal commission fees.
Banks entered the investment industry in 1987, whereby they took over full-service brokerages, introduced mutual funds to the banking industry and became part of discount brokering. From this time on, chartered banks have expanded their dominance in the industry by acquiring key players in the industry or branching off into full brokerage services. For example, the brokerage firms for CIBC, Royal Bank, Toronto Dominion Bank, Bank of Nova Scotia and Bank of Montreal are Wood Gundy, RBC Dominion, Evergreen, Scotia McLeod and Nesbitt Burns respectively. In addition, the aforementioned chartered banks have also branched into the discount brokerage sector.
As of December 1994, the Securities Industry as a whole included 158 firms, directly employs over 24,000 people, has operating revenue of $5.1 Billion and operating profit of $1.2 Billion (Appendix A). Within this industry the largest firms ranked by revenue are: RBC Dominion Securities ($1 Billion), Midland Walwyn ($480 million), Burns Fry ($416 million) and Nesbitt Thomson ($335 million) (Appendix B). It is evident that the industry is highly concentrated in a small number of companies. The top 4 leaders in the industry accounted for 44% of revenue, while the top 8 was 51%.
Industry information from 1993 displays further segregation, between retail, institutional and integrated firms. Integrated retail-institutionalized firms (RBC Dominion Securities, Scotia McLeod, Nesbitt Thomson, Wood Gundy) made up 66% of the industry\'s revenue, while strictly institutional firms (First Marathon Securities, Gordon Capital Corp. and Loewer Ondaatje McCutcheon Ltd.) made up 21% and Retail firms (Green Line Investor Services Inc.), 15% (Appendix C). The following analysis will outline the investment dealer\'s industry, specifically the life cycle, critical success factor, strengths, weaknesses, target markets and profitability.
The demand for investment financial services is expanding. This becomes evident by examining the average increase in revenue which has occurred over the 1990-1994, 5 year span. This amounts to a 114% increase in revenue, ($2.4 Billion and $5.13 Billion), (Appendix A). An additional indication of growth in the investment industry is the fact that the number of firms in the industry has increased from 119 in 1990 to 158 in 1995, and 163 by the second quarter of 1995 (Appendix A). Furthermore, firms are entering the market because they realize the increasing need for investment services as well as the potential for profits.
It is obvious that the industry is growing, however the cause for this growth must also be addressed. Firstly, demographics of the Canadian society point towards an aging population. This aging society is comprised of active retired and semi-retired individuals who have knowledge, time and disposable income for investing purposes.
Moreover, younger generations who fear the elimination of the existing CPP because of the aging population, are interested in "building a retirement nest egg." (Fine, p. B21) Secondly, the fact that people want to be more educated about the investments industry, ties into an additional cause for growth in the industry. The market is offering more information to those who want to be part of it. This additional information reduces investors\' fear of not knowing enough, and if they choose to take advantage of the available information they can capitalize on it. Also, more information gives people the perception that they are able to make an increased number of higher quality investment decisions.
Finally, the entrance of banks into the industry has increased public interest. First of all, banks carry a great deal of trust which is extremely important to the average investor. Second, banks are higher profile marketers so they reach a larger number of people. In addition, the large number of branches makes the product readily available and easily accessible.
Topics Related to Industry
Financial services, Financial markets, Financial institutions, Investment banking, United States securities law, Security, Discount brokerage, Brokerage firm, Bank, Mutual fund, Securities Investor Protection Corporation, Suretrade
Essays Related to Industry
Magazine Article SummariesMagazine Article Summaries To: Mr. Teach – Eng 201 From: name goes here Subject: Major Assignment #3 -- Journal Entries Date: May 8, 2000 JOURNAL #1-- INC. THE MAGAZINE FOR GROWING COMPANIES May 1994. Publisher: James J. Spanfeller, 488 Madison Ave., 6th Floor New York, NY 10022 (212) 326-2600 Audience Statement: Inc. speaks directly to the entrepreneur, sole-proprietor, small business partnerships. Advertising: There were several advertisements including investing, retirement, tax accounting, c
Gender InequalityGender Inequality The issue of gender inequality is one which has been publicly reverberating through society for decades. The problem of inequality in employment being one of the most pressing issues today. In order to examine this situation one must try to get to the root of the problem and must understand the sociological factors that cause women to have a much more difficult time getting the same benefits, wages, and job opportunities as their male counterparts. The society in which we live
Marketing of an adjustable headlightMarketing of an adjustable headlight 1. Marketing research (1.1) Market * Size of the market The size of the market is large - the whole car industry (world-wide) with multi-billion pound worth of value. Below are some of the car manufacturers today: Acura | Alfa Romeo | American Motors | Audi | British Marques | BMW | Bricklin | Bugatti | Buick | Cadillac | Chevrolet | Chrysler | Citroen | Daewoo | DeLorean | DeTomaso | Dodge | Eagle | Ferrari | Fiat | Ford | General Motors | Holden | Honda | H
Introduction to Human ServicesIntroduction to Human Services Jeffrey, A Human Services Professional is someone who is a facilitator for someone who is not able or not yet able to deal with issues in a healthy way. I am taking classes so that I can learn how to best help empower people change their situation by believing in themselves. I believe that people have the answers within themselves, but may need help getting in touch with their spiritual or intuitive self. As human services providers, we hopefully strive to model h
Sex DiscriminationSex Discrimination Despite Legislation for Equal Opportunities, sexism is still in evidence in the workplace. Sexism is a particular concern for society when considering it\'s effect in the workplace. Sexism has always been a particular problem in the labour market especially with the formation of capitalism. In the last half of the 20th century this has been especially highlighted due to the increase of woman entering the labour market. This aroused the need for a legislation for equal opportun
Working MothersWorking Mothers Many women today are facing choices that their mothers never had to face. One of these choices is whether or not to go back to work after having a child. This was practically unheard of in the 1950\'s. In the 1990\'s it is not whether the mother will or will not go back to work, rather a question of when. When did the choice become set in stone? Why do the mothers of today have to work outside the home versus working in the home, much like their mothers did. When one thinks of th
Preparing For A Cruise VacationPreparing For A Cruise Vacation Preparing for a Tropical Cruise Vacation Vacationing to certain tropical destinations might require more than what you think. After making reservations for the Cruise accommodations and flight arrangements you would think the tough part is over. I personally had no idea that going to the Bahamas would require more than valid state identification. I soon realized that I not only had to prepare for my financial needs, wardrobe attire, but also have proper documentat
Settings of Jane EyreSettings of Jane Eyre The Settings of Jane Eyre Throughout Jane Eyre, as Jane herself moves from one physical location to another, the settings in which she finds herself vary considerably. Bronte makes the most of this necessity by carefully arranging those settings to match the differing circumstances Jane finds herself in at each. As Jane grows older and her hopes and dreams change, the settings she finds herself in are perfectly attuned to her state of mind, but her circumstances are always
Society's Problems and my role in helping itSociety\'s Problems and my role in helping it Is helping solve the problems of society everyone’s job, or no one’s job. What role would you hope to play, based on your interests and developing skills, in the solution of one or more specific problems? Society\'s Problems and my role in helping it As the problems in society arise, it is the duty of every individual to ease the burden by helping to solve these problems. Too often, individuals pass off that responsibility with the hope that others w
The Case Of The Elusive Car SalesmanThe Case Of The Elusive Car Salesman I was pacing around Lexington, waiting for my local mechanic to finish the latest repairs on my ‘77 Chevy Impala. My name\'s Yesterday, Sam Yesterday. It was hot in Lexington, by that is not uncommon for mid-July. I\'d had a good several months, and I was in good financial position for the first time since I bought that Impala back in 1977. That car had served me well, but lately it had been failing. Maybe it was time for a trade, I thought; so I walked over
The EreodThe Ereod Essay on The F.B.I. --------------------------------------------------------------------------- To uphold the law through the investigation of violations of federal criminal law; to protect the U.S. from foreign intelligence and terrorist activities; to provide leadership and law enforcement assistance to federal, state, local, and international agencies; and to perform these responsibilities in a manner that is responsive to the needs of the public and is faithful to the constitution
Theory of Varied Consumer Choice Behaviour and It'Theory of Varied Consumer Choice Behaviour and It\'s Implicati INTRODUCTION For decades, scholars and practitioners have been frustrated by the very limited capacity of either psychological or marketing models to predict individual choices on particular occasions. This paper discusses a theory which explains the degree to which the extant models omit important influences that produce varied individual choice behaviour. The focus of this paper is on the sequences of product purchases. Discretiona
TQM In An Accounting EnvironmentTQM In An Accounting Environment Chapter One: Description of the problem: All companies need effective employees in order to complete the necessary daily tasks and attain a profit. Many employers do not receive the peak level of performance from their workers due to the fact that the employees do not feel they are having an effect on the quality of service they are offering, or cannot see any tangible outcome from their efforts. This chapter describes several different aspects of the project, in
What are the consequences of the suppression of thWhat are the consequences of the suppression of the imaginati Hard times is set out in three different books: The Sowing; The Reaping; The Garnering. They are named so as it has a special reference to the education and upbringing of children. The titles collectively underlines the basic plot. It suggests that the grounding children received in their formative years would directly affect their adult lives. This comes evident as pupils of the Gradgrind system of education is not ready to tackle si
(topic is business accounting) Accounting Evaluati(topic is business accounting) Accounting Evaluation of Ford FORD MOTOR COMPANY GROUP PROJEC ACC 505 - FINANCIAL ACCOUNTING 12/01/96 TABLE OF CONTENTS DESCRIPTION PAGE INTRODUCTION................................................................................. 1 LIQUIDITY........................................................................................ 1-3 Working Capital................................................................................... 1 Current Ratio & Quick Ratio......
Ford Motor CompanyFord Motor Company GROUP PROJECT ACC 505 - FINANCIAL ACCOUNTING 12/01/96 TABLE OF CONTENTS DESCRIPTION PAGE INTRODUCTION........................................................1 LIQUIDITY...........................................................1-3 Working Capital...................................................1 Current Ratio & Quick Ratio.......................................2 Receivable Turnover & Average Days\' Sales Uncollected.............2-3 Inventory Turnover & Average Days\' Invento
Economics: The American GovernmentEconomics: The American Government Most of the problems of the United states are related to the economy. One of the major issues facing the country today is social security. The United States was one of the last major industrialized nations to establish a social security system. In 1911, Wisconsin passed the first state workers compensation law to be held constitutional. At that time, most Americans believed the government should not have to care for the aged, disabled or needy. But such attitud
AustraliaAustralia INTRODUCTION Australia, island continent located southeast of Asia and forming, with the nearby island of Tasmania, the commenwealth of Australia, a self governing member of the Commenwealth of Nations. The commenwealth of Australia is made up of six states--News south Wales, Queensland, South Australia, Tasmania, Victoria, and Wester n Australia--and two territories--the Australian Capital Territory and the Northern Territory. Australia, including Tasmania but excluding external terri
Bombardier ReportBombardier Report Analysis of Bombardier: Bombardier took on its present form in 1976 when MLW-Worthington, a manufacturer of locomotives, acquired Bombardier Ltd., a manufacturer of snow tractors and snowmobiles. The company was renamed Bombardier Inc. in 1978. The company has been active ever since in the acquisitions of various aerospace and transportation companies around the world. Nature of the Business Bombardier conducts business in five main areas: transportation equipment, aerospace, d
International Business VenturesInternational Business Ventures Measuring a potential business venture has many aspects which the international manager must be aware of in order to convey the correct information back to the decision makers. Being ignorant to any of the aspects can lead to a false representation of the project, and hence an uninformed decision being passed. In order for a business to survive it must grow. For growth to be optimal, management must first be able to identify the most attractive prospective leads.
Book Review of Business Policy and Strategy: An AcBook Review of Business Policy and Strategy: An Action Guide Submitted in partial fulfillment of B.S. in Business Administration Century University, New Mexico Grade = 95% A} Business Policy and Strategy: An Action Guide, by Robert Murdick, R. Carl Moor and Richard H. Eckhouse, attempts to tie together the broad policies and interrelationships that exist among the many functional areas which undergraduate students typically study. The authors intend the text to supplement the typical case book a
Business PlanBusiness Plan Business Plan: Progressive Consulting What follows is a complete business plan for a hypothetical company. Please copy or save to your disk and use as an example in developing your own business plan. If you would like to read a series of articles jump to Web Marketing . For additional business aids click on The Practical Tools of Consulting 1. 0 Executive Summary Progressive Consulting will be formed as a consulting company specializing in marketing of high technology products in i
Careers in Investment BankingCareers in Investment Banking Davin Bloom English 152 Reuff, Instructor Paper 2 2/25/97 A career in the securities industry can offer exciting work if you enjoy working in a competitive and demanding atmosphere. Investment bankers, stock brokers, and stock traders all make up the securities industry providing services to each other, as well as the general public. All of people involved in this field deal with stocks, bonds, and other financial material in some way or another, but they all have t
Employee Assistance ProgramsEmployee Assistance Programs This being the day of the great downsize many managers are hurrying to make the cut\'s and in doing so closely examining their Employee-Assistance Programs for effectiveness. What are they? How do they help? How do they work? Are they worth the hassle? What are they? By definition employee-assistance programs (EAP\'s) give a business the means for identifying employees whose job performance is negatively affected by personal problems. EAP\'s should arrange for struct
Role of Government in Mixed Economies Such As AustRole of Government in Mixed Economies Such As Australia What role do governments have in modern mixed economies such as Australia? Using appropriate indicators (macro economic aggregates) outline the present state of the economy. In what ways is the Commonwealth government using fiscal and monetary policies to influence the Australian economy? What are the main features of the government\'s micro economic policy? Why is the government concerned about microeconomic reform? Synopsis: The role of g
Advanced Export MarketingAdvanced Export Marketing ADVANCED EXPORT MARKETING MAJOR ASSIGNMENT There are already many federal programs that assist exporters in various ways including Progam for Export Market Development (P.E.M.D.), Canadian International Development Association (C.I.D.A.) and Canadian Commercial Corporations (C.C.C.). These programs help exporters secure and enhance access for Canadian goods and services in world markets. They also strengthen Canada\'s international marketing effectiveness and help promo
American Government-EconomicsAmerican Government-Economics Most of the problems of the United states are related to the economy. One of the major issues facing the country today is social security. The United States was one of the last major industrialized nations to establish a social security system. In 1911, Wisconsin passed the first state workers compensation law to be held constitutional. At that time, most Americans believed the government should not have to care for the aged, disabled or needy. But such attitudes ch
New Financial and Statistical Measures to MonitorNew Financial and Statistical Measures to Monitor The Success of GE To : The Board of Directors, GENERAL ELECTRIC COMPANY Subject : NEW FINANCIAL AND STATISTICAL MEASURES TO MONITOR THE SUCCESS OF GENERAL ELECTRIC COMPANY After Mr. Weltch announced my new assignment, I pondered how I could go about guaranteeing the best possible result: a creditable and well organized work that is going to help you, the Board of Directors, plan for the future of the company in a better way. Before starting my an
Financial Report of Loewen Group Inc.Financial Report of Loewen Group Inc. The Loewen Group Inc. was founded in 1969. The company has two major headquarters in North America, one in Burnaby, British Colombia and a second in Cincinnati, Ohio. Loewen Group Inc. (L.G.I.) is the largest funeral services enterprise in Canada and is the second largest company in the North American Funeral Services Industry. L.G.I. owns 918 funeral homes and 269 cemeteries and also engages in the pre-need selling of funeral services including cemetery and
Financial InstabilityFinancial Instability The soaring volume of international finance and increased interdependence in recent decades has increased concerns about volatility and threats of a financial crisis. This has led many to investigate and analyze the origins, transmission, effects and policies aimed to impede financial instability. This paper argues that financial liberalization and speculation are the most reflective explanations for instability in financial markets and that financial instability is likely
Foreign AidForeign Aid There are two words that many politicians like to shy away , and those two words are, foreign aid. Taking a firm stand on either side of this topic is usually side stepped by decision makers. Their opinions are usually based on a case by case analysis. This extremely controversial topic involves whether or not to support the policy of foreign aid to needy or sometimes not so needy countries. What benefits does foreign aid have for the countries that receive it, and does it have any
General Motors - Financial Ratio AnalysisGeneral Motors - Financial Ratio Analysis I. General Motors History Highlights In its early years the automobile industry consisted of hundreds of firms, each producing a few models. William Durant, who bought and reorganized a failing Buick Motors in 1904, determined that if several automobile makers would unite, it would increase the protection for the group. He formed the General Motors Company in Flint, Michigan, in 1908. Durant had bought 17 companies (including Oldsmobile, Cadillac, and Po
GermanyGermany On October 3, 1990, the states of the German Democratic Republic (East Germany) shed their last ties to their Soviet created structure and joined the Federal Republic of Germany (West Germany). The 23rd article of West Germany\'s 1949 constitution, the Basic Law, had been drafted specifically to allow for such an arrival from the East. But as the 1980s drew to a close, few Germans on either side of the border expected it to be used in their lifetime. Yet, in less than a year the beginnin
U.S Monetary Policy in 1995U.S Monetary Policy in 1995 When Alan Greenspan presented the Federal Reserve\'s semi-annual report on monetary policy to the Subcommittee on Domestic and International Monetary Policy, the Committee on Banking and FinancialServices, and the U.S. House of Representatives on February, Dr. Greenspan touted a cautionary yet favorable view of the U.S. economy. He states that With inflationary pressures apparently receding, the previous degree of restraint in monetary policy was no longer deemed ne
The Investment IndustryThe Investment Industry The investment industry is composed of a wide variety of firms. The main players include independent full line brokerage firms, investment bank subsidiaries of chartered banks, and discount brokers. Independent full line brokerage firms offer a wide range of services, including underwriting, trading of stocks, advice and research. In essence, the full service brokerage subsidiaries of chartered banks offer the same services, however, banks\' brokerage firms may have a lar
Interview to Dow JonesInterview to Dow Jones Q. What is the biggest challenge facing Dow Jones in the next few years? A. To continue investing in new products and services that will strengthen our franchises, increase our competitiveness and produce new revenue flows in the future, while at the same time being careful in setting priorities, prudent in controlling costs, and committed to producing strong annual profits. Q. Who are the major competitors of Dow Jones? A. In the broadest sense, any quality products or se
Introduction to BusinessIntroduction to Business Business plays a major role within our society. It is a creative and competitive activity that continuously contributes to the shaping of our society. By satisfying the needs and wants people cannot satisfy themselves, businesses improve the quality of life for people and create a higher standard of living. It is a way for individuals to provide goods and services to consumers, and at the same time, produce a profit for themselves. Businesses are not only important becau
Investing In CanadaInvesting In Canada Investing In Canada - Factors that are attractive for direct investment in Canada. Canada is the second largest country in the world, occupying close to 10 million square kilometres of land bounded by the Atlantic, Pacific and Arctic oceans. Canada shares a 6,000 kilometre border and the five largest freshwater lakes in the world with the United States. Known as the Great Lakes, they provide a route to the Atlantic via the St.- Lawrence Seaway, permitting direct access to int
Should Gambling Be Legalized?Should Gambling Be Legalized? Over the past twenty or so years, great wealth and improved economic and social conditions have been promised to the communities that have embraced legalized gambling. However, with twenty years of experience it is time to look back and analyze whether this is true or not. It could easily be said that gambling is as American as apple pie. Gambling has shaped American history since its beginning. Lotteries were used by The First Continental Congress to help finance t
The Japanese EconomyThe Japanese Economy Jonathan Allen The prewar economy of Japan was a Socialist economy and the country was ruled by an emperor up to WW2 and after WW2 it started to lean towards a mixed market economy until what it is today although its government is Socialist it is leaning towards a mixed market economy. The Japanese economy is a mixed economy that leans towards market, it is like this because almost all business are run by private corporations or people and that is the market in the economy.
Managing the Transition from Maturity to Decline:Managing the Transition from Maturity to Decline: Diamond Power Corporation This case study, prepared by Richard C. Scameborn, follows the Diamond Power Specialty Company from its humble beginnings in 1903 to its decline in 1991. The birth of Diamond came with the invention of the hand cranked soot blower. As the years and technology progressed, so did the Diamond soot blower. Along with this main product, Diamond also added several other products to its line, but none had the profitability of t
Money LaunderingMoney Laundering The word money laundering, according to the myth, is derived from Al Capone\'s practice of using a string of coin-operated launderettes in Chicago to disguise his revenues from gambling, prostitution and protection rackets. It\'s a nice story but not true, money laundering is so called because it perfectly describes the process of removing the stains and smells which money acquires when criminals earn it. In this report I will go on to discuss the topic of money laundering in th
NAFTANAFTA The North America market is one of the richest in the world. Measured in terms of GDP, it is the equivalent of Western Europe. But with a somewhat smaller population, GDP per capita in North America, Canada, Mexico and the U.S., is around 12 percent higher than in Western Europe. The North American Free Trade Agreement (NAFTA), which came into effect January 1, 1994, sets out the schedule for tariff elimination for members.. As a small country, Canada has always been careful in it\'s deali
NAFTA: Canada's & Mexico's ViewpointsNAFTA: Canada\'s & Mexico\'s Viewpoints When the Canada/U.S. free trade agreement came into effect, the Mexican\'s were very impressed by the provision and opportunities that opened for both sides. Mexico then approached the U.S., seeking to form a similar agreement with them. This brought forth a new issue in Canada, should they let Mexico and the U.S. form an agreement without them? Or should they participate, thus transforming their deal with the U.S. into a trilateral agreement including Mex
Obstacles Toward DevelopmentObstacles Toward Development In this every day changing world, many of us are living in a comfortable home, have enough food to eat, well clothed, healthy, and financially independent. All these are provided to us because we are living in a well-developed country. Others in the third world nation are not so lucky. They may have no shelter, limited food supply, and unemployed. This is because their country is not well developed like ours. Problems that stop these countries from developing are 1.
Penguin Books: Introduction to Modern BusinessPenguin Books: Introduction to Modern Business The aim of this essay is to comment on how, over the last six years Penguin Books Limited has grown and managed external and internal changes. Sixty one years ago, Allen Lane, the managing director of the Bodley Head, a British publishing company, revolutionised reading with the introduction of the first ten Penguin paperbacks. Today, over 600 million paperbacks are sold yearly. At a time when there was still little of entertainment, paperback books
People or Profits?People or Profits? In Almeda County, a private hospital turned away a woman in labor because the hospital\'s computer showed that she didn\'t have insurance. Hours later, her baby was born dead in a county hospital. In San Bernardino, a hospital surgeon sent a patient who had been stabbed in the heart to a county medical center after examining him and declaring his condition stable. The patient arrived at the county medical center dying, he suffered a cardiac arrest, and died. These two hospital
Code of Professional Ethics by American InstituteCode of Professional Ethics by American Institute of Certified Public Accountants Introduction A code of professional ethics is a voluntary assumption of self discipline above and beyond the requirements of the law. The Code of Ethical Conduct serves the highly practical purpose to notify the public that the profession will protect the public interest (Carey, Doherty: p 3). When people need a doctor, a lawyer or a certified public accountant, they seek someone whom they can trust to do a good
Rainforest Cafe, Inc: Outline to Rainforest Cafe RRainforest Cafe, Inc: Outline to Rainforest Cafe Research Report CORPORATE BACKGROUND History Formation Rainforest Cafe, Inc. was incorporated in Minnesota on February 3, 1994 to own and operate restaurant and retail facilities under the name of Rainforest Cafe - A Wild Place to Shop and Eat. Chairman of the Board and Chief Executive Officer Election. Lyle Berman was elected Chairman and CEO of Rainforest Cafe at its inception in February 1994. Background. Berman has been Chairman and CEO of G
Russian Reform and Economics: The Last Quarter ofRussian Reform and Economics: The Last Quarter of the 20th Century Outline Thesis: As the reformation of the USSR was becoming a reality, Russia\'s economy was crumbling beneath it. Russia began its economic challenge of perestroika in the 1980\'s. The Russian people wanted economic security and freedom, while the government was trying to obtain democracy. The previous management styles needed to be changed along with the way that most businesses in Russia operated. I. Reformation of USSR A. The