Canadians
are provided investment advice under the lowly suitability standard by people
that are operating with numerous conflicts-of-interest . As a result, the
likelihood of being sold unsuitable investments, overcharged or sold expensive
products is not insignificant. In addition, there is the usual assortment of
wrongdoing including account churning, undue leveraging, , unauthorized
trading, reverse churning and fraud. This means that the likelihood of having a
complaint against your dealer is to be expected. There are many issues related
to filing a complaint including not knowing your rights, a complex process and
dealers who view a complaint in an adversarial manner rather than an
opportunity to create client satisfaction and process improvements. This
article details the challenges and offers some constructive changes for reform.
This web site is dedicated to investment fund investor education and protection. The multi-billion fund industry plays a key role in the savings and retirement plans of millions of Canadians. Many industry practices provide beartraps for the unsuspecting investor and securities regulations have not kept up with the pace of change in the industry.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.