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Protecting Consumers through Higher Professional Standards

Millions of Canadians rely on financial advisors and planners to provide them with appropriate advice and access to suitable financial products and services. Consumers should be able to count on widely-held standards of professionalism and a high degree of accountability from their advisors. Unfortunately, they can't.

The problem is that anyone, regardless of their level of financial acumen and sophistication, can hold themselves out to the public as a financial advisor or planner and give what they purport to be "good financial advice."

Advocis's proposed professions model calls for the title "financial advisor" to be strictly regulated, and for all titleholders to be required to belong to a recognized professional association.

The professions model would protect consumers by raising the professional bar for all financial advisors. Consumers would be assured that any titleholder is duly qualified to provide financial advice and is accountable to the highest standard of conduct and ethics.

What would be required of financial advisors and planners?

Under the professions model, advisors and planners would be required to:

  • meet initial and ongoing proficiency standards;
  • satisfy strict continuing education requirements;
  • adhere to a code of professional and ethical conduct; and
  • maintain appropriate levels of errors and omissions insurance

Find out more about the professions model

To download the full (25-page) Advocis Professions Model document, please provide us with the following details:



(Please provide a legitimate email address. The document link will be sent to this address.)


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