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Wealth Professional | 29 Apr 2016, 08:01 AM Agree 0
Consultation paper could mark the introduction of a best interest standard and hold advisors accountable for decisions
  • Ken | 29 Apr 2016, 11:25 AM Agree 0
    Majority of retail investors wrongly believe this duty already exists . The word advice implies that it is informed and safe to take but the reality is that it is not always.The word advisor is made up- the actual registration is dealer representative or salesperson . The industry has too much imagery for it's own good. IIAC falsely states that prevailing Iiroc rules is functionally equivalent to best interests but when it comes to disputes we're back to the lowly suitability standard.
  • Russ | 29 Apr 2016, 02:49 PM Agree 0
    " a move that could ultimately see advisors held responsible for investment decisions they make for clients..." Wow! What a novel idea! Being held responsible. Excuse the sarcasm, but it seems rather outrageous to say the least that an advisor can disavow responsibility by asserting that an investment decision was nevertheless "suitable." It's about time.
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