The Financial Professionals Title Protection Act, 2019 introduces title protection in Ontario relating to the use of the Financial Planner (FP) and Financial Advisor (FA) titles.
Individuals using the FP/FA titles, or a similar title, must have an approved credential from a FSRA-approved credentialing body. Similar titles include abbreviations, equivalents in another language, and titles that “could reasonably be confused with” the FP or FA titles.
Please see Appendix 1 of the Financial Professionals Title Protection (FPTP) Supervision Guidance for examples of titles that could be similar to FP or FA.
FSRA will have the authority to take enforcement action(s) against an individual using the FP/FA titles, or a title that is similar to FP/FA, without an approved credential.
To ensure continued consumer protection, FSRA will continue to monitor the market for any changes in title use and communicate additional information to the industry as needed.