Have a candid conversation with advisor about mutual funds
The winds of change continue to blow in the financial services industry. Hopefully, in the not too distant future, hidden trailer fees charged by mutual funds will be banned. A trailer fee is an embedded commission paid to the financial advisor whose clients own a mutual fund. There are those in the industry who believe […]
New investment disclosure rules a good first step
The rules of investing are changing. Finally. The investment statement you receive from your investment dealer is now required to be more transparent. Two new pieces of valuable information will be provided. First, the dollar amount of fees you pay for receiving financial advice will be shown. For some that will be a surprise. Past […]
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 […]
The rights of investors should be improved
Good news is coming… we hope. Beneficial changes could be introduced that will provide a much fairer environment for individual investors. Nothing has happened yet however the winds of change are blowing in the right direction. Ontario took one small step forward in the slow journey to increase investor protection. The idea is to implement […]
Investment industry regulation is stuck in the dark ages
If investors could listen to conversations about how the investment business is regulated, I am sure their blood would boil. There has been talk about reforming the investment industry for two decades. So far, it is pretty much business as usual. That might change. A new co-operative capital markets regulator (CCMR) is being discussed. The […]