The financial services sector is undergoing a seismic shift. On the one hand, more stringent regulatory requirements, such as the second phase of the client relationship model and point-of-sale (POS) disclosure, are creating significant and immediate compliance challenges for traditional mutual fund companies and financial advisors. On the other hand, new digitally-savvy market entrants are […]
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A recent JD Powers Investor Satisfaction Survey found that investors want transparency surrounding their fees and portfolio performance. When advisors are “transparent” and provide clients with these details the client satisfaction ratings increase on average from 65% to 95%! Dealers and investment management firms are coaching advisors on that very topic to help them with […]
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In a recent article on loyalty programs, solutions provider Colloquy stated that that 81% of consumers know that their data is an asset to organizations but that 67% of those same consumers do not feel they are getting any benefit for sharing it. In our opinion, this shortcoming isn’t just indicative of loyalty programs, but of marketing […]
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The pending Point of Sale (POS3) regulatory deadline (May 2016) is keeping compliance professionals busy designing new workflows and evaluating solutions that support a shift from the Back Office to the Front Office. This is driving a major change in how compliance is managed and also the speed at which all compliance events must be […]
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I read a blog post recently on innovation called “Where To Look For The Next Big Thing” which was a great reminder for all of us in the technology field who specialize in any business vertical – whether it’s financial services, automotive or consumer packaged goods. All of us have an opportunity to bring new […]
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The CSA letter published on January 28, 2015 said that CRM2 amendments scheduled to come in to force on July 15, 2015 have been extended to December 31, 2015 in response to an IIAC letter managing director Barbara Amsden sent to the CSA on December 20, 2014. This gives dealers an additional 6 months to […]
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Financial advisors need to adopt and leverage new technology strategies to reach a younger audience Young adults aren’t saving their money, and while governments may be trying to educate students by integrating financial literacy into the school curriculum, the financial planning process remains a fairly dry subject for most. In turn, financial advisors need […]
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This article points out 6 regulatory opportunities – strategies that help wealth managers turn regulation into customer upside. Our customers are implementing some of these ideas ahead of POS Stage 3 – and taking advantage of opportunities that include e-migration, improved customer experience and improved communications. Every industry player must comply so why not turn a […]
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December 12, 2014, TORONTO – The Canadian Securities Administrators (CSA) released the final rule amendments on Point of Sale Disclosure for Mutual Funds: Pre-Sale Delivery of Fund Facts (POS 3) on December 11, 2014. The rule can be found on the Ontario Securities Commission’s web site or by clicking here. Click on the button below for an […]
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The CSA published their final amendments to the Stage 3 POS Fund Facts Pre-Sale Delivery rule yesterday. This is the final stage of the POS regulation, tabled more than ten years ago in a Joint Forum framework in 2003. Please click here to see the final rule.
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