(January 15 – 16:30 ET) – As RRSP season approaches, Canada’s securities regulators are reminding Canadians to take time to research the qualifications of the people offering them financial advice.

“This is a busy time of year with many Canadians considering investment options and you don’t want to be rushed into unsuitable decisions,” said Doug Hyndman, chairman of the Canadian Securities Administrators.

“You need to have confidence in the knowledge and skills of your financial adviser.”

Investors shouldn’t let their adviser sell them products they don’t understand, Hyndman stressed.

“Ask your advisor why they recommend particular funds or securities. Ask how much the salesperson is earning in commissions. Do they have an ulterior motive for selling a particular product? Know exactly what you are paying for,” Hyndman said.
-IE Staff