The final report of the Expert Committee to Consider Financial Advisory and Financial Planning Policy Alternatives makes several recommendations dealing with titles and credentials that are likely to have a significant impact on many in the investment industry.
Included in this special feature are the notable developments in this area since the Ontario government announced its commitment to regulate financial planners and financial advisors. Photo copyright: kritchanut/123RF.
March 16, 2018A new consultation paper invites comments on proposals that would restrict the use of the title “financial planner” to those with the necessary proficiency or licensing requirements
The province will “consult extensively with stakeholders” on effort to restrict the use of financial planning titles and impose proficiency requirements on financial planners
The introduction of restrictions to using the financial planner title as well a new statutory best interest standard will provide much needed clarity for clients
Committee proposes restrictions on the use of advisors' titles
The report makes several recommendations dealing with titles and credentials that are likely to have a significant impact on many in the investment industry
The mutual fund industry trade group’s submission pushes back against some of preliminary recommendations of the Expert Committee
There’s much to commend in the Ontario government’s Expert Committee’s preliminary recommendations, but also some areas that need to be revisited
Financial planners and financial advisors need consistent implementation of some key policy recommendations
Although there are concerns, the FPSC, the CIFPS, the IIAC and FAIR Canada are in favour of the recommendation to regulate financial planning
New report also recommends a simplified approach to dealing with consumer complaints and a consumer-friendly process for recovering losses
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