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Originally Posted by heep223
A related issue to the OP and the conversation above is that our regulator doesn't require those giving financial and investment advice to put their client's interests ahead of their own. Unless they are a full portfolio manager. 95% of those registered in the investment management business are sales people.
Should I repeat that. Those giving advice on how to invest your life savings don't have a legal obligation to put your interests ahead of their own.
It's a huge failure of our system and though it is getting more traction lately, it doesn't get near enough attention because people don't fully understand.
It just boggles my mind that we have allowed this to happen.
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Exactly. I wish we had a licensing platform of 'Fiduciary' in Canada, like they do in the US.
My firm acts 100% as a fiduciary, but it is difficult to get investors to even understand what that means.