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Wealth Professional | 19 Aug 2015, 08:15 AM Agree 0
An Ontario man hung out his advisory shingle without any kind of licensing or regulatory approval reminding industry players why regulation does nothing to stop those intent on breaking the law
  • Niki | 19 Aug 2015, 12:48 PM Agree 0
    Registered Financial Advisors are not permitted to advertise that they are registered, because the Industry--from what I gather--does not want people to be confused with a registration being considered a recommendation of that person and the assets they recommend--a vouching per see. I have always found that to be rather bizarre, that Industry would register someone to sell assets and then say that they are hands off that FA, and then wonder why people get confused about what constitutes a legally authorized Financial Advisor and one who is committing fraud, selling securities without being registered? If those who are registered are not permitted to demonstrate that, then how on earth are people in general supposed to know when someone is not registered?

    Take medical professional for example. On occasion there are individuals discovered practicing without a license. The fact that someone does that does not make the Industry angry at all those under their regulations and tighten the rules on them. They do not require those who are duly educated and licensed to not demonstrate that that are licensed and regulated. And they have an enormous fund with lawyers set to go to bat for any of their people, whether surgeons or physicians, when those individuals are being sued. Those who have become licensed professionals in the medical system are vouched for until proven otherwise--in which case they lose their license to practice.

    Does anyone else see the disconnect?
  • WealthAdvisor | 21 Aug 2015, 10:54 AM Agree 0
    @ Niki
    Very well said and I also believe the word "licensed" is not allowed in any context.
    Niki is right and a Registered Financial Advisor sounds like a pretty good job title to me.
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