I am writing to you with concern about possible changes in the financial advice industry. It is my understanding that these changes will help the wrong people and hurt people like me, who depend on affordable, quality financial advice.
I believe that Canadians like me should continue to have a choice in how they pay for financial advice – whether through commissions or direct fees. These proposed changes mean that:
I think the best way to maintain standards and keep fair access to advice is through the professionalization of the industry. Instead of limiting access to financial advisors, professionalization will make the industry stronger and protect the interests of your constituents.
Financial advisors are part of our community, and the advice they provide not only creates wealth, but also makes me feel more secure. Your constituents deserve nothing less.
I would ask you to make every effort to raise this issue with your colleagues and constituents as soon as possible.