CFA Charterholder

/Tag: CFA Charterholder
Feb 8, 2019

Does Your Financial Advisor Need To Act In Your Best Interest? The Answer May Surprise You

2019-02-08T15:08:11+00:00February 8th, 2019|Wealth Planning|

A recent proposal tabled by the Ontario Securities Commission (OSC) that was designed to hold investment advisers who work for bank-owned investment dealers, mutual fund and insurance companies to a higher standard of client care was recently rejected by the Canada’s provincial securities regulators. The quashed “best-interest standard”—an overarching rule stating that investment advisers must put their clients’ interests first—did succeed in bringing to light many conflicts of interest clients face when dealing with financial advisers. Importantly, independent portfolio managers like Bridgeport Asset Management sit outside this debate because they already owe a “fiduciary duty” to their clients: they are [...]