Retiring Soon? is a new, web-based tool providing a centralized source of unbiased retirement information, with links to provincial and federal programs, to assist people who are close to retiring. It is free and accessible on multiple formats. Information on the site is organized into 4 main areas: Workplace, Money, More than Money and Ready, set, retire. “I think financial advisors will welcome this new resource as one more tool they can use in assisting clients plan for a successful transition from the workplace to retirement.” – Nancy Allan, Executive Director, Independent Financial Brokers of Canada Click the link below to check out this web-based resource for consumers. https://www.clhia.ca/rs/en/index.html
Ellen Bessner, partner at Babin Bessner Spry LLP speaks with Dan Richards, CEO of Client Insights, on why advisors can be sued in retirement, and explains the steps you need to take to ensure you are not at risk. You can watch the interview HERE to learn more about having good files and ERP insurance. To find out more about IFB’s E&O program and ERP insurance, click here!
The Investment Funds Institute of Canada (IFIC) has launched a guide on preparing CRM2 reports for mutual fund dealers. This guide includes information on achieving regulatory goals while maintaining the advisor-investor relationship. To find out more information on CRM2 and to view this document, log into the members section of our website.
Ontario’s Finance Minister, Charles Sousa, has announced that Ontario will not pursue setting up the ORPP, now that Canada’s Finance Ministers have agreed to enhance the CPP, starting January 1, 2019. IFB has been vocal in its opposition to the ORPP because it would increase costs and compete against private sector retirement plans already in place – many of which would have been discontinued by employers who could not afford to contribute to both plans. Under the enhanced CPP: Income replacement will increase from 25% to 33% of pensionable earnings, e.g. a person earning $50,000 throughout their working life would receive a yearly pension benefit of around $16,000 instead of the $12,000 they would currently receive. The maximum amount of […]
The Financial Services Commission of Ontario (FSCO) now offers a series of videos focused on helping Ontarians understand retirement planning. The video series, “A Guide to Retirement Planning” outlines strategies for retirement planning in easy-to-understand terms. The video series offers an overview of the three pillars of the Canadian retirement income system – the public pension system, personal savings, and workplace pension plans – and presents tips and resources for consumers to utilize so that they can make informed financial planning decisions. To view the video series, click here. Additionally, the Ontario Securities Commission (OSC) has revamped its Investor Office webpage, and released a trilogy of videos to help promote the initiative. Investor Office provides consumers with information to help […]
In January, the Investment Funds Institute of Canada (IFIC), along with its education branch, the IFSE Institute, launched a free continuing education module focused on disclosure requirements and advisor obligations under CRM2. That educational module is now available in French. The module was developed to educate industry professionals on the key elements of the regulation, and leverages the CRM2 tools created by IFIC’s CRM Communications Task Force. The module is available to advisors free of charge. Visit www.ifse.ca or call 1-888-865-2437 for more information.
A new, free continuing education module focused on disclosure requirements and advisor obligations under CRM2 is now available to financial advisors. The new educational program was created by the Investment Funds Institute of Canada (IFIC), along with its education branch, the IFSE Institute. “This continuing education module will help financial advisors explain the new disclosures so that investors can improve their understanding of their investments, have more meaningful conversations with their advisors and make more informed decisions” said Joanne De Laurentiis, president and CEO of IFIC, and board chair of IFSE. The module includes a sample account statement, explanations of key features of the account statement, as well as sample cost and performance reports Advisors will learn how to carry […]
Earlier this week, the Mutual Fund Dealers Association of Canada published a brochure meant to help consumers understand the advantages of utilizing an MFDA Member to assist them in their financial planning endeavours. “The MFDA and its Members are responsible for a significant portion of the Canadian wealth management landscape and primarily service mass market retail clients who represent over 80% of Canadian households. The Benefits of Working with an MFDA Member brochure is intended to promote the value and benefits to investors of the regulatory oversight exercised by the MFDA over its Members,” said MFDA President and CEO Mark Gordon. The brochure outlines benefits such as the protections provided by MFDA Rules, registration of Members and Approved Persons, Member complaint […]