Mutual Funds Ontario: Ontario has played a very important role in the rise to prominence of the financial services industry and sector in Canada. As the financial capital of Canada (Montreal) declined in that status and Ontario and Toronto specifically became the natural choice to become Canada's new financial center. Because of the politics, referendum and other language issues Canada's biggest and well re-known companies and financial giants moved around 1976 and thereafter.
The early 80's is when all the banks suddenly got interested in what would become Canada's richest business. All banks moved toward buying brokerage arms and investment dealers, then all corollary type service companies including mutual fund retail operations and investment fund management and large mutual fund companies.
Ontario is the province with the most financial companies, workers, head offices and governing bodies in Canada. There is no doubt Toronto will continue to lead as a financial center in Canada and with the TSX on side will grow to be the main investment marketplace in Canada for a long time.
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