The Mutual Fund Dealers Association of Canada (MFDA) has released a resource for investors that provides them with information on understanding the new cost and performance investment reports mandated under the second phase of the client relationship model (CRM2).
The MFDA Investor Guide to Compensation and Performance Reports uses sample reports created by the self-regulatory organization to provide an overview of the new statements. It also includes a glossary for the descriptions of fees and charges that investors will see on their new statements.
“This initiative is part of the MFDA’s commitment to provide plain-language materials to investors in order to assist them in understanding products, performance, cost and the advisory process,” says Mark Gordon, president and CEO of the MFDA, in a statement.
“We created the Investor Guide to provide investors with key information on how they can use the new compensation and performance reports to better evaluate their investments, and the value of advice that they have received,” he adds.
The Investor Guide is currently available on the MFDA’s website.
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