How are finance professionals supervised?

The Chamber of Financial Security is a non-profit organization whose sole mission is to protect the public by ensuring the continuing education, discipline and ethics of its approximately 32,000 members.

The Chamber of Financial Security is a non-profit organization whose sole mission is to protect the public by ensuring the ongoing education, discipline and ethics of its approximately 32,000 members:

– financial security advisors (for personal insurance)

– consultants in group insurance and annuities,

– financial planners,

– representatives of mutual funds (for investments in mutual funds)

– representatives in the scholarship plans.

Like any professional, the certified advisor is trained and supervised to know his clients and the financial products he presents, analyze their needs, make the right diagnosis and make appropriate and appropriate recommendations.

Multidisciplinary supervision

In 1998, the Government of Quebec decided to entrust the supervision of financial services intermediaries to an innovative type of organization in the world of financial services where professionalism, the interest of the client, the responsibility of the advisors and multidisciplinarity are the pillars of their model. .

Unlike the system that prevails outside of Quebec where an adviser holding several licenses can continue to practice even if he has been disbarred in a field of practice, the supervision of advisers in all disciplines (mutual funds, insurance, financial planning, etc.) the same roof and a single register (https://lautorite.qc.ca/grand-public/registres) of registered advisers allow Quebec consumers to benefit from a safety net with uniform meshes and to be able to verify the registration of all advisers. in Quebec.

The current framework therefore favors optimal supervision, all specializations combined, because it is multidisciplinary. This function is the basis of the Quebec system. It protects the public from individuals guilty of all their actions, regardless of their areas of specialization.

It is a system that promotes prevention, deterrence, exemplary to maintain discipline and integrity according to strict rules of ethics always with the protection of the public as the only function of professional supervision.

Calling a professional advisor therefore has marked advantages. In addition to seeing your best interests at all times, he will use his expertise to help you achieve your financial goals.

Moreover, in 2016, a study by the Quebec research center CIRANO observed that after 15 years, investors who had recourse to the advice of a professional accumulated 290% more assets than they had invested independently.
After 4 years, the difference was already 69%.

Consult the study

For more information, visit the Chamber’s website: www.chambresf.com.

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