The Investment Funds Institute of Canada’s new president and CEO, Joanne De Laurentiis, outlined a new strategic plan for the fund industry trade association.

The new plan is focused on five priorities: representation, advocacy, member services, education and communications, she said.

IFIC’s ability to provide good representation relies on industry participation, she noted. As for advocacy, she said, “We have adopted a more proactive and focused stance in advocating on behalf of our members on public policy matters. We’re doing more to get ahead of issues so that we can have constructive and productive input into the regulatory policy making process.”

In terms of member services, it has revamped its committee structure, by creating steering committees to provide direction on strategic issues, and pledging to establish ad hoc committees when issues demand it. It is also reforming its monthly data report to focus more on consumers’ interests. “Our objective is to provide a more investor-driven focus and thereby assist consumers with their investment decisions. You will see this new reporting approach in place before the end of the year,” she promised.

The fourth element of the strategic plan is education. “We want to provide the educational services that will help our professionals meet and exceed regulated requirements,” she said.

Finally, it wants to improve public awareness. “Our aim is to provide the information that will promote a positive understanding of the industry and the role that investment funds play in meeting the financial objectives of Canadians,” she said.

This includes consultations with consumer advocates, providing clearer information to consumers, expanding public access to educational material, information and statistics, and the launch of an Investor Attitude Survey. The survey’s results will be released tomorrow morning.

Concentrating on these areas will enable IFIC and its members to better manage a changing business and regulatory environment, bring about positive results in the organization’s pursuit of fair and balanced regulatory policies and increase the focus on advancing the needs and interests of both the investing public and IFIC members, said De Laurentiis.

“I believe that if we look after the interests of the investing public, the interests of the industry will also be well served,” she concluded.