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5.21648408971878E-05 0.00125195618153355 0.000625978090766847 0.00104329681794465 0.00312989045383409 0.00396452790818983 0.00135628586332807 0.000521648408972323
Stock impact report

Retirement group files complaint with competition watchdog over banks' sales practices [Globe and Mail, The (Toronto, Canada)]

Toronto Dominion Bank (The) (TD) 
Last toronto dominion bank (the) earnings: 2/27 06:30 am Check Earnings Report
do not provide advice based on the entire marketplace of available investment products. Instead, CARP said investment advice is curated from a limited shelf of banks' own proprietary products, even if there may be a more suitable option for a client from a third-party provider. The lack of investment product competition is “alarming,” he added, especially when compared with other financial service products such as mortgages, loans, credit cards and insurance, where banks “compete aggressively.” Mr. Quinn argued that the priority of the Big Five banks is to “sell, almost exclusively, proprietary investment products, with no mandate to prioritize the best outcomes for their clients.” “Where independent wealth managers succeed when their clients' portfolios perform well, branch advisers receive their compensation by achieving sales targets for internal products and increasing assets under administration for the institution,” Mr. Quinn said in the letter. Canada's banking sector n Show less Read more
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