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.
- 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
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