The financial crisis hit Canada’s securities industry and capital markets hard but it has proven itself resilient, not only regaining lost ground but achieving new highs, says the Investment Industry Association of Canada (IIAC).
In a recently compiled chartbook, IIAC said it suffered significant restructuring marked by dealer consolidation, reduced employment and changes to dealer business models as the result of the financial crisis.
Securities industry plays major role
But the chartbook indicates the industry has played a major role in expanding Canadian financial markets over the past 10 years and supported the capital needs of Canadian governments and businesses and now has more than $2.5 trillion in client assets under management.
The industry faces new challenges ahead. “Changing demographics, new regulations, market and macroeconomic uncertainty and the growth of digital-advice and Financial Technology (Fintech) will be just some of the forces to shape the Canadian securities industry in the years ahead,” according to the IIAC. “The IIAC will monitor closely how the industry confronts these challenges.”
