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Shaping the future regulation of financial advice

Financial planners and financial advisors need to be aware of the impact Ontario’s Expert Committee could have on their practices

Big opportunities in volatile markets

Financial planners and advisors can manage volatile markets by employing a stop-loss strategy and having sufficient cash on hand in clients’ portfolios.

Live by the trend, die by the trend

Financial planners need to ensure that their clients are not overinvested in momentum funds

Women investors are becoming a powerful force

Financial planners risk losing business if they don’t recognize that women have more power and money now than ever before

Removal of provincial trade barriers may facilitate national harmonized regulation

The provincial Agreement on Internal Trade could pave the way for national regulatory harmonization that will benefit both financial planners and advisors

Paradigm shift for advisory services on the way

Financial planners and financial advisors need to be ready for a new regulatory model as Ontario’s expert panel to study this issue begins its mandate

An important first step in regulating financial planning

A new document from the FPSC and the IQPF may provide a way to harmonize financial planning standards for financial planners across the industry

Merging FSCO and OSC would be a good start

If Ontario were to merge these two regulatory bodies, it could provide financial planners with a more streamlined regulatory system

Determining the true appetite for risk

Assessing a client’s risk tolerance goes beyond using a questionnaire or risk-assessment system. An ongoing process is needed

Will advisors be forced to charge a flat fee for their advice?

Many advisors may be planning to move to a fee-based account model based on a percentage of AUM, but will this model survive the potential…

Develop an effective plan for young clients

Determining the risk profile of young investors is more critical than following traditional rules

Holistic advice will require a new value chain

The only way to ensure financial planners can deliver effective, comprehensive and holistic advice is by making structural changes in the way the advice is…

Redefining financial planning

A new method in financial planning that balances eight forms of capital will help you and your clients achieve their life and retirement goals

Does a financial plan have monetary value?

Although financial planning has traditionally been viewed as a loss leader, financial planners should not be hesitant to charge for this important service

Death of the salesperson?

Basic financial advice will become a commodity whereas holistic comprehensive advice will create client value and drive financial advisors to become financial planners

Keeping up with evolving anti-money laundering rules is essential

FINTRAC released updated reporting guidelines this year — and financial planners must adhere to them or face stringent penalties

Financial planners need a strong business plan to survive

A business plan focusing on client management, dealing with regulatory complexities and leveraging technology will define the successful future financial planners

Is the ORPP really needed?

Financial planners need to keep their clients focused on personal savings as a key strategy to achieve a successful retirement

A lifestyle approach to financial advice

Financial planners who use a lifestyle approach for retirement planning are better able to help their clients achieve a successful retirement

Improving financial advice

Financial advisors have been inundated with proposed rules to better protect clients, but has the need for improved education been given the consideration that it…

Major concerns with proposed law

There are three key issues of contention with the private member’s bill that aims to regulate financial advisors in Ontario

Raising the professional bar?

The Advocis proposal will cause unnecessary duplication and cost for the oversight of financial advisors, and it misses the mark for regulating financial planners

The merits of regulating financial planners

Could the regulation of financial planning finally address concerns about proficiency, quality standards and potential conflicts of interest?

Is a statutory best interest duty for advisors needed?

Everyone agrees that we need to put clients’ interests first; the disagreement is in how this should be done

The banning of embedded compensation

There is much debate as to whether such a move will protect clients of financial services or restrict access to financial advice