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Wealth Professional | 12 Jul 2016, 08:15 AM Agree 0
The Canadian Securities Administrators have released an action plan with objectives the organization intends to pursue over the next three years
  • NPG | 12 Jul 2016, 11:22 AM Agree 0
    It is impossible to have a law that says advisors have to do what is in the clients best interest. As soon as an advisor charges even a low fee the client could say that is too much. Even if an advisor was paid $2,20 per hour , the client could say , it is in my best interest if the advisor worked for $1.00 per hour. How do you implement that.
  • NPG | 12 Jul 2016, 11:26 AM Agree 0
    You can't implement rules stating that advisors have to act in the clients best interest.
    If you do the next thing you have to have is something that tells you best interest of the clients in who's mind, the client, the regulators, the advisor who? Because if it's the regulators, and an advisor decides to charge $3.00 per hour , the regulator could say it would be better for the client if he charged $1.00 per hour. who decides what the best interest of the client is. I'm not being sarcastic.
  • Jim Burke | 12 Jul 2016, 04:02 PM Agree 0
    Regulators run wild!! CSA according to their website 13 appointed lawyers with no industry experience making up asinine rules with no accountability to the public or the advisors that pay fees to their securities commissions. Costly unnecessary rules to make them look like they are doing something. Who regulates the regulators in the CSA . How many trees have been sacrificed to fulfill requirements for crazy disclosure that nobody reads?
  • Bluh | 14 Jul 2016, 01:47 PM Agree 0
    As was seen in australia and the uk there will be a culling of the herd. those that rely on pitter patter and their smile will be culled; those that add value through accounting, (real) planning, insurance, senior, disabled, estate, divorce and other specialties will survive and collect assets. Those clients who do manage to retain advice because they have enough assets will be well served by the remaining planners.
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