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Wealth Professional | 21 Mar 2014, 12:06 PM Agree 0
Proposed legislation to regulate financial advisors in Ontario moves onto committee for consideration.
  • Brian E. Jackson CFP | 21 Mar 2014, 12:48 PM Agree 0
    Earl Jones was not caught by the Quebec regulators because, in the regulators own words, he was not a dues paying member of their Chambres de la securitie financiere. So unless the regulators are going to go out and find unregistered frauds then we are no further ahead in protecting the public.
  • Marilyn J Chambers, CFP, EPC | 21 Mar 2014, 12:56 PM Agree 0
    I do not support this bill. As a CFP I already adhere to a strict code of conduct. Our industry is extremely highly regulated and this is just one more layer or red tape we can do without.

    I believe advisors should be educated and adhere to a code of conduct. Make CFP the standard before anyone can be called a Financial Planner or Financial Advisor. The colleagues I know and work with take their ethical duties to their clients extremely seriously.

  • Kevin Cahill, B.Sc.(Hons), CFP, CHS, CLU, EPC | 25 Mar 2014, 01:37 PM Agree 0
    I am having a hard time supporting this bill and this URL that was forwarded to me hits the nail on the hammer and I wanted to share it to everyone that has a stake in the conversation

    … I feel the bill is only going to add another layer of complexity for the people who are already following the rules… the categories that are exempt are where a lot of the problems lie. I am concerned as to how quickly this is going through as well as how quiet the entire banking system is being over this… but then again they know they will be exempt. I have two friends who own funeral homes in Ontario that are not part of a conglomerate and when a similar bill was introduced in that industry a few years ago it didn't make anything better.

    There are no exceptions to who is a doctor or who is a dentist, you either are or you aren't… I agree something is better than nothing but at the same time define and educate what is a financial planner and what is a financial plan might actually help individuals.
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