MD Management, the forerunner of MD Financial Management, was launched in1969, but its roots run deeper. In the 1950s, the Canadian Medical Association (CMA) recognized that many physicians were facing uncertain retirements because they lacked a structured investment and savings plan.
The CMA lobbied the Canadian government to encourage Canadians to save for retirement. Before RRSPs, only individuals who were part of employer-sponsored registered pension plans could deduct pension contributions from taxable income.
In 1957, thanks in large part to the CMA’s efforts, the Registered Retirement Savings Plan was born. Since then, the CMA’s commitment to the financial well-being of physicians and their families has only grown. Today, the CMA’s subsidiary, MD Financial Management, administers more than $30 billion. This success comes from a proud history of meeting the specific needs of CMA members and their families.