Call grows to standardize advisor titles

Call grows to standardize advisor titles

Call grows to standardize advisor titles

Industry titling continues to be a primary area of confusion.

"These investor stakeholders  ... urge the CSA to standardize the professional titles and designations that advisors may use so as to ensure they more accurately reflect the scope of an advisor’s services and do not denote expertise that the advisor may not have."

Some suggest that the use of the title “Financial Advisor” by a product salesperson, who is
trained solely to deliver trade suitability rather than financial planning and/or ongoing investment
management advice, has resulted in confusion and a distinct disconnect between the level of
service many investors expect from their financial advisor and the actual service provided.

"These investor stakeholders therefore submit that title and holding out restrictions should be put
in place to allow the public to clearly distinguish between those who offer advice limited to trade
suitability and those who provide more extensive advice ommissions," says the CSA update.


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