Thursday, 30 June 2016
DOES YOUR PROVINCIAL SECURITIES COMMISSION PROTECT YOU? CBC EXPOSES A LIE
DOES YOUR PROVINCIAL SECURITIES COMMISSION PROTECT YOU?
Does your provincial securities commission protect you from the marketing hype of the "suitability" standard advisor?
Did you know that there are two standards of advice, one which must by law, be advice that is in your best interests (fiduciary standard), and a second substandard, which over 99% of investment sellers live under, which is a "suitability" standard. (suitability is determined by the seller, by the way:)
Another term for "suitability" is "good enough", and it is the standard of the average Dollar Store item. "Just good enough". Ask your MLA how it is that government employees, at the Securities Commissions can be collecting nearly $3/4 million dollars in pay, from industry-only funding, and helping "advisors" to hide and conceal the basic tricks of the trade from investors view. Ask why our provincial securities regulators behave like million dollar "silence machines" when it comes to protecting millions of investors.
Not all financial advisors registered or even qualified www.cbc.ca