By Staff
April 7, 2016
BURLINGTON, ON
If you have at some point felt your financial planner was not really delivering the level of service you thought you deserved for the fees you are paying – the province wouldlike to hear from you.
This isn’t the experience for everyone who engages a financial advisor – the province wants to hear about your experience.
Ontario is seeking public feedback on recommendations to help consumers access quality, professional financial planning and advice.
The Expert Committee to consider Financial Advisory and Financial Planning Policy Alternatives has issued a report outlining preliminary recommendations, including:
Regulating individuals who serve as financial planners and advisors
Harmonizing industry education, credentialing, licensing and titling standards
Establishing clear rules to protect consumers and mitigate the risk of conflict of interest
Starting today, Ontarians can provide feedback on the expert committee’s recommendations by:
Submitting comments online to
Fin.Adv.Pln@ontario.ca
by June 17
Or attending one of the public town hall meetings being held across the province
The committee will use the feedback to finalize its recommendations to government, which are expected this fall.
The financial services sector, including financial planning and advising, is critical to Ontario’s economic prosperity. In 2015, the sector accounted for 390,000 jobs across the province, generating almost 10 per cent of Ontario’s GDP.
The Expert Committee to Consider Financial Advisory and Financial Planning Policy Alternatives was established in 2015. The final report by an expert advisory panel reviewing the mandates of the Financial Services Commission of Ontario, the Financial Services Tribunal and the Deposit Insurance Corporation of Ontario with the goal of modernizing the regulation of financial services and pension plans and increasing agency accountability, is due to be released this spring.
