Many independent firms may restructure or retool their wealth-management operations to mitigate the negative impacts of the client-focused reforms
There are key steps advisors can take now to be ahead of the game and deliver better outcomes for clients
Lower revenue and higher compliance costs may force smaller firms out of business and impact advisor compensation
In its annual statement of priorities, regulator reinforces its commitment to CSA’s proposed reforms and bolstering banking ombudsman
The SRO also plans to review the regulation of advice to ensure the rules enable innovation in the industry
Industry groups and investor advocates agreed on some of the proposed rules, but opinions were divided on the decision to allow embedded commissions to remain in place
But regulators are banning DSCs and enhancing regulatory requirements for registrants to avoid situations that place them in a conflict of interest
Darcy Hulston posits that regulators may eventually crack down on the practice of advisors selling products their firms manufacture
The practice raises concerns regarding conflicts of interests for dealers and corporate governance for companies
Conflicts during the capital raising process can damage investor confidence