Protections proposed for self-directed investors
There are positive signs the investment industry will evolve to better protect investors who purchase financial products and advice. In May 2017, the Investment Fund Institute of Canada (IFIC) recommended investment industry regulators provide rules governing embedded advisory fees charged by mutual funds. The issue is that some mutual funds sold by online discount brokers […]
Should financial advisors be held to a higher standard?
The ongoing conversation about how investors should be treated is an embarrassment to the investment industry. The issue is centered on the rights of investors. How should people who invest their life savings be treated by their investment advisors? On one side, there is the regulatory body that proposes financial advisors act in the “best […]
New disclosure regulations for investors a positive move
New regulations initiated by Canada’s Security Regulators went into effect on July 15. Referred to as CRM2, these regulations are the second phase of the Client Relationship Model, intended to give investors increased transparency around fees and performance. Under the new regulations investment firms will now have to provide their clients with two annual statements […]
Protecting Investors
Individual investors deserve higher standards from the financial planners who serve them. Last week the process towards possible reform continued with a public hearing. My observation is that financial planning services offered by qualified professionals has improved over the last several decades. However, there is more room for improvement. Hopefully that will happen soon. An […]
Investment guidelines might harm investors
There are rules and regulations designed to keep investors safe. Sometimes those rules might backfire. Recently I attended a conference designed to provide insight into guiding the type of advice given to clients. I think having strict rules in the investment industry is a good thing. Regulators that are responsible for policing our industry are […]