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Wealth Professional | 31 Mar 2017, 08:15 AM Agree 0
An investor advocacy group says that people are entrusting their finances to salespeople with deceptive titles
  • Annoyed IA | 31 Mar 2017, 10:17 AM Agree 0
    Larry Elford is a disgruntled ex broker that sued his former form a LOST! There is absolutely no solid proof that the terms Advisor and Adviser mean anything differently in Canada. The fact that Canada's Self Regulating Organizations (SRO) are insignificant governing bodies does not mean Canadian investment firms have been "misleading" the investing public. With any type of investing strategy, investors need to be made aware of the risks and pitfalls of such strategies. I myself have the title Advisor which is a term chosen by the firm I am employed with. Try to search the term "Adviser" on the IIROC site, and it's nowhere to be found.
  • Daniel Collison | 31 Mar 2017, 11:28 AM Agree 0
    Most financial advisors/advisers would be happy and willing to take on a fiduciary obligation to their clients as most advisors/advisers already have their clients' best interest at heart . . . that's how they stay in business!!! This wide-brush painting of advisors as hucksters is nonsense and the government and regulators need to do what they're supposed to do: set rules and regulations around the terminology, titles and requisite services of advisors. Simple!
  • AnotherAdvisOr | 01 Apr 2017, 01:22 AM Agree 0
    There is a world of difference between a "Financial Advisor" at a bank branch and an Investment Advisor with an investment dealer. I know, because I've held both titles.

    What Larry and SIPA also fail to accept is that there is a world of difference between regulation in the U.S. and Canada. In the U.S. any reasonably qualified individual can register as a Registered Investment Adviser (a fiduciary). In Canada, the "Advising Representative" registration is far more difficult to attain, requiring years of portfolio managing experience and/or a CFA designation. This is simply not comparable.

    The original CBC article discussed "Vice President" titles on IA business cards and some clients who felt duped because they thought they were being advised by actual bank executives. VP titles are truly a dupe and something our industry MUST do away with as soon as possible.
  • Stan Buell - SIPA | 01 Apr 2017, 08:44 AM Agree 0
    Thank you for spreading the word.
  • Mike | 02 Apr 2017, 08:50 AM Agree 0
    that's your take. I think Larry and his comments are right on the money, pardon the pun. I am a victim of Advisor and investment fraud that Larry has reached out to offer assistance. I find your take totally different from my findings. Perhaps Larry did go to court and lost. It just means there was outside external pressures that easily could have caused this. His message is amplified today as the banking industries own staff and some management have come fourth. CBC investigators also have uncovered this fraud on mass that Larry has so bravely stepped out to warn others. He was right. What have you done lately?
    There is a new day coming for the investment industry. I have full confidence in this.
  • Mike | 04 Apr 2017, 11:17 AM Agree 0
    It seems some of the comments listed here lack the experience of being victimized by this trickery. Likely they would change their tune if it happened to them. I spoke with an IIROC agent about this O or E and he indicated it was just a different way of spelling it. HHMMMMM. I will speak to Larry,I think he has it right.
    Being a victim of this is a very bad experience and wish it on no one.
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