Why a Fiduciary Standard for Investment Advisers Is Urgent and Crucial

The June issue of CanadianMoneySaver has an excellent overview, written by leading investor advocate Ken Kivenko, on why Canada needs a fiduciary or best interests of the client standard. The article canvasses the inadequacies of the current requirements, and how consumers are mistaken as to what the advisor’s duties are and blindly trust their advisor without sufficient knowledge of fees, costs, conflicts of interest or the product itself. Kivenko also provides a summary of different stakeholders’ positions on the issue and discusses how previous regulatory attempts to address the problems evident in the client-advisor relationship have been  unsuccessful.

June 07, 2012