Industry to Self-Regulate Financial Planners

The Canadian wealth management industry is pushing for a legal framework to regulate financial advisors – see ROB article.  The industry’s goal is to increase quality and eliminate conflicts of interest within this channel.  We often hear from industry players that the way to improve investor protection is to upgrade the financial advice channel rather than focusing solely on increasing product and performance disclosure.  Ultimately, it will be the combination of these 2 initiatives that will lead to an overall increase in investor protection and a healthier wealth management industry in Canada.