Posts Tagged “segregated funds”

Comments: Draft Guidance Fair Treatment of Consumers

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    May 28th, 2018 We would like to thank CCIR and CISRO for inviting FSCA in commenting on the Draft Guidance for the fair treatment of consumers as part of the public consultation on this subject.   The Financial Services Consumer Alliance (FSCA) is an informal alliance of consumers whose sole objective is to…

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Canadians lose 40%+ of their lifetime retirement assets to the financial industry!

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  This is what we learn from The Poor Bartender; the only UNCENSORED book on how not to lose money when dealing with the financial industry. This book shows how saving money is the easy part of retirement planning. Investing money is the hard part and this is where Canadians lose most of their retirement…

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Response to CCIR seg fund issue paper

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Financial Services Consumer Alliance www.consumerights.ca email:info@consumerights.ca   May 27, 20165160   CCIR Secretariat 5160 Yonge Street, Box 85 17th Floor Toronto, Ontario M2N 6L9 ccir‐ccrra@fsco.gov.on.ca.   Reference: Segregated Funds Working Group Issues Paper May 2016   The Financial Services Consumer Alliance is an informal alliance of consumers and experts in the financial industry who are…

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Why consumer protection, representation and oversight are needed in the insurance industry?

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Why do I believe FSCA is necessary? For the last few years as a consumer advocate I was involved in many cases which clearly demonstrate that some changes are needed. The compelling evidence in my possession made me believe this was going to be a “walk in the park.” However I was extremely surprised by…

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My Pyramid of Financial Planning Needs

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  Below you will find my own financial planning pyramid of needs which I have used during my career to justify the advice I have given clients and which I have used to train other advisors.   My pyramid:     http://www.manurseassociates.com/sales/life-insurance-industry-failing-canadians/   Let’s compare my pyramid to the pyramid found on Mike Nurse site….

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Segregated Funds Service Commission: Can you keep it?

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You are thinking about retiring and you have one question. What are your options in regards with your block of business?  If you have sold mutual funds, the answer is simple and you must sale. For an insurance block of business, it is entirely different. You have the option of keeping the ownership of your…

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The Financial Regulatory Apartheid

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The Canadian Securities Administrators have put forth a proposal regarding mutual funds fees which include recommendations as to the purpose of trailing commissions.   While this discussion is worthwhile and needs to happen to ensure that there is a complete synergy between the remuneration of the advisor and financial well being of the client there…

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Letter Minister of Finance

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Dear Minister of Finance   I would humbly and with a lot of respect offer my comments regarding your last budget.   I would go to the point. I am extremely and particularly disappointed with your decision of increasing old age security and guaranteed supplement income from age 65 to 67.   This change is…

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Licencing changes necessary in the financial industry…

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In 2009, there were net repurchases of 1.75 billion of mutual funds. This meant there were thousands of investors who were not able to face volatility. Why were these investors fully invested in the market? These investors would be surprised to learn that current regulations are preventing them from receiving a financial advice that is objective.   I…

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