Category Archive: Industry news

Saving money

21st Jun 2018

IFB Staff

IFB responds to CSA announcement on its harmonized response to concerns with the client-registrant relationship

June 21, 2018 IFB welcomes the announcement today that Canadian Securities Administrators (CSA) members have reached agreement on a set of reforms to enhance the relationships between investors, advisors and firms.  IFB says the CSA has presented a balanced set of reforms that will be positive for investors, while not harming market competition by introducing certain changes that would have had a disproportionately negative effect on smaller, independent firms and advisors. “In particular, IFB is pleased that the CSA has not proposed a ban all embedded commissions”, said Scott Findlay, IFB’s Chair. “At an OSC roundtable on this topic, I said that – as an advisor myself – I share with many IFB members the concern that a ban on […]

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16th Feb 2018

IFB Staff

Advisors protest – New disclosure rules from CLHIA draw complaints

In a move that few in the financial advisor community favour, insurance companies soon will begin disclosing the value of compensation paid to intermediaries who sell group retirement services and group benefits plans. That intent raises questions about whether advisors selling individual life insurance soon could be subject to similar compensation disclosure. The Canadian Life and Health Insurance Association Inc. (CLHIA) instituted its new disclosure regime through Guideline G19, issued last month. Instituting the disclosure rule follows consultation with CLHIA members, notification of the insurance industry’s regulators and ratification by the CLHIA’s board of directors. However, G19 was ratified without prior consultation of affected advisors and intermediaries. The disclosure is expected to commence on Jan. 1, 2019 – six months […]

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16th Nov 2017

IFB Staff

IFB comments on Ontario’s 2017 Fall Economic Statement

TORONTO, November 15, 2017 – Many proposals contained in the Ontario Fall Economic Statement affect members of Independent Financial Brokers of Canada (IFB) as financial advisors and small business owners. IFB supports the government’s plan to develop legislation that will regulate financial planners in Ontario and restrict the use of titles related to financial planning. IFB has long held the position that those who call themselves Financial Planners should hold appropriate credentials to do so. In addition, other financial advisory titles, which do not accurately reflect the proficiency of the individual or firm, can be misleading or confusing to consumers seeking financial advice. IFB welcomes the government’s intention to pursue both initiatives through extensive consultation with stakeholders. IFB looks forward […]

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13th Oct 2017

IFB Staff

IFB urges Ottawa to take steps to help smaller firms

The growing costs and efforts associated with compliance are taking a toll on smaller dealers and independent advisors, the association states in a submission to Finance Canada The federal government needs to take action to help independent financial services firms compete against the increasingly dominant big banks in Canada as well as to improve consumer protection, Independent Financial Brokers of Canada (IFB) argues in a recent submission to the federal Department of Finance Canada. Notably, the IFB expresses its support for the government’s intention to consider proportionality in the development of policy and regulation in its submission to Finance Canada on the department’s review of the federal financial services sector framework.   To read the full article, click HERE.  

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Voice at the table

25th Sep 2017

IFB Staff

Taxes: Opposition to changes

Susan Allemang, head of regulatory and policy affairs with Independent Financial Brokers of Canada was interviewed by Investment Executive on the Coalition for Small Business Tax Fairness. To read the full article, please click HERE.

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17th Aug 2017

IFB Staff

IFB President, Scott Findlay to sit on OSC Panel RE: Capping or standardizing trailing commissions

OSC Announces Agenda for Roundtable on Option of Discontinuing Embedded Commissions TORONTO – The Ontario Securities Commission (OSC) today announced the agenda and list of panellists for the upcoming roundtable to discuss Canadian Securities Administrators (CSA) Consultation Paper 81-408 Consultation on the Option of Discontinuing Embedded Commissions. The roundtable is being held as part of the CSA’s ongoing consultation on the possible impacts of discontinuing embedded commissions. The event will include three panel discussions, each of which will explore a different alternative to the option of discontinuing embedded commissions and discuss the extent to which the alternative may address the CSA’s concerns with respect to embedded commissions. To read the full article, please click HERE.  

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12th May 2017

IFB Staff

Toronto Keynote Speaker, Tony Chapman on Air Canada launching loyalty program in 2020.

IFB’s Toronto Spring Summit opening speaker, Tony Chapman, weighs in on Air Canada’s decision to move from Aeroplan to their own loyalty platform.  In this television interview he talks about the reasons why and offers insights on the consumer and marketplace that also applies to our business of doing business. Click the video below to listen!

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03rd Apr 2017

IFB Staff

Newsmaker: Fighting for the right to choose

Scott Findlay, the new head of the IFB, says that maintaining the independence of financial advisors is crucial to ensuring that clients have the best options in product choice and advisor compensation.   To read the full article, please click HERE!

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