Finance Minister Charles Sousa spoke about curbing rising home prices in the GTA
The very idea of bringing Ontario regulators under one roof has set off a debate on what advisors stand to gain or lose.
The shoe is now on the other foot, with fee-based advisors taking heat for failing to disclose all the MERs associated with ETFs – costs that sometimes approach those of mutual funds.
A growing number of firms are rejecting the hunt-to-eat model for young advisors instead opting to provide them with guaranteed income.
The growing number of clients looking to lower their exposure to Canada’s flagging oil sector has some MFDA advisors looking to upgrade to IIROC.
Turnabout is fair play with American firms now hunting for successful advisor offices in Canada.
When full fee transparency hits, a growing number of clients will decide to divvy up their assets rather than leave it all under anybody’s sole control, warn experts.
In a relatively quick turn of events, the biggest advisor on the Prairies was unceremoniously shown the door in early March by one firm for compliance reasons only to have a big Canadian name snatch him up – along with his $1.5 billion book.
Thousands of advisors will commit regulatory arbitrage as they look to get around any move by the OSC to ban embedded commissions, predicts one industry veteran.
Fee-based advisors are addressing the negative optics of a two-tiered fee structure where a low rate is applied to larger AUM clients and a higher, less favourable rate to others.
The head of one of Canada’s first robo-advisors is reacting to speculation that the $30m Wealthsimple deal marks the beginning of the end for independent players like his.