Canadians are at risk of  losing access to affordable, quality financial advice.

What is the problem?

Access to a secure future has been put at risk.

Today, Canadians have a choice in how they pay for financial advice, whether through upfront fees or through embedded commissions based on the products they buy and the size of their investments.

Proposed government changes may change that.

Canadian regulators who oversee the sale of mutual funds are now proposing to ban embedded commissions for financial advisors, meaning that all investors would be forced to pay fees directly.

These changes don’t favour those who need professional advice most. Canadians who have less money to invest, whether seniors on a fixed-income or young people just starting to save for retirement, are most at risk. We must protect our financial security.

What is at risk?


Vulnerable Canadians may lose access to affordable, professional financial advice, and all investors could be forced to pay direct fees of $100 to $300 per hour.

Proposed changes mean financial advisors may not be able to keep their costs the same.

It is not only wealthy Canadians who should have access. All Canadians – regardless of their income or where they live – should have access to trustworthy financial advice.


You trust your financial advisor to give you quality financial advice.

Proposed changes will not strengthen professional standards in the financial advice industry.

This leaves Canadians at risk of receiving questionable advice or worse, falling prey to criminals posing as advisors.


Canadians depend on financial advisors to protect their financial interests.

Proposed changes may leave Canadians with little choice over who helps them manage their financial future – you may not have the choice of your local financial advisor and be forced to turn to a big bank or a stranger.

Canadians should continue to have a choice in how they pay for financial advice – whether through embedded commissions or direct fees. All Canadians deserve a choice.

The U.K. made similar changes to those proposed in Canada and millions of ordinary people lost access to financial advice:

25% fewer financial advisors

50% fewer new investment accounts under £100,000

There's too much at risk for Canadians.
Find out about our plan to protect equal access.