For too long in Ontario, the use of Financial Planner and Financial Advisor titles have not been regulated. In fact, anyone could assume those titles, and you wouldn’t be able to identify an unqualified operator. Thankfully, the situation has changed for the better. 

In March 2022, legislation came into force to limit the use of Financial Planner and Financial Advisor titles to those who have earned an approved credential from a FSRA-approved organization. These organizations, referred to as credentialing bodies, grant the use of Financial Planner and/or Financial Advisor titles to individuals who:

  • meet specific education and examination standards
  • abide by a code of conduct that requires them to put the client’s interest first and ensures the fair treatment of consumers
Financial Planners and Financial Advisors

What’s the value to you? Like so many other Ontarians, you may – or could one day – be working with a financial professional to plan for various financial milestones. Having an established minimum standard in place for those using the Financial Planner and Financial Advisor titles can give you greater confidence that the individual you are dealing with has a minimum standard of education, is being actively supervised by a FSRA-approved credentialing body and is subject to a complaints and discipline process.

These changes are long overdue and offer something Ontarians have been asking for: clarity and confidence when working with their financial professional.

Questions you may have about Financial Planner / Financial Advisor title protection in Ontario

Responsibilities

FSRA’s Responsibilities:

  • establish minimum standards for credentialing bodies and Financial Planner and Financial Advisor credentials
  • approve credentialing bodies and Financial Planner and Financial Advisor credentials
  • supervise approved credentialing bodies
  • investigate complaints against:
  • approved credentialing bodies
  • organizations carrying on business as an approved credentialing body or claiming to offer an approved credential without FSRA’s approval
  • individuals who use the Financial Planner or Financial Advisor title, or a title that could be confused with Financial Planner or Financial Advisor, without an approved credential
  • take enforcement action for breaches of the Financial Professionals Title Protection Act, 2019
Cannot do

What FSRA cannot do:

  • oversee the conduct of individuals who use the Financial Planner or Financial Advisor title
  • investigate complaints about the conduct of individuals who hold an approved credential from an approved credentialing body

Enforcement and monitoring

We take our responsibilities to protect you from misconduct or non-compliance very seriously. View our most recent enforcement and monitoring information for this sector.

Engagement and consultation

We work with a Consumer Advisory Panel that provides a consumer perspective on proposed FSRA policy changes. View our engagement and consultation information.