Page 10 - Newcom

small talk
Industry talk with new and veteran advisors
What industry change would you like to see?
What’s the most important change you’ve seen during your career?
I’ve seen financial planning transform from a job to a profes-
sion, allowing planners to make a difference in people’s lives. Salespeople traditionally did some planning, but they typically had
Consumers typically don’t
know what financial planning is and can’t differentiate among titles and credentials, so they’re vulnerable to misplacing their trust, which can lead to abuse. Financial planning
as a recognized profession would increase transparency, so consum- ers could make informed decisions about the services they choose.
Trevor Readman
2019 co-winner
of the Institute of
Advanced Financial
Planners’ (IAFP)
annual student
financial planning
competition; business
administration student majoring in financial services at the Southern Alberta Institute of Technology, Calgary
little formal planning education. Now, financial planning has its own body of knowledge, rigor- ous education requirements and a code of ethics, which includes placing the client’s interest first — things I helped develop as an FP Canada board member from 2010 to 2017.
Dawn Hawley
financial planner, Angus Watt Advisory Group at National Bank Financial, Edmonton
My IAFP submission advocated
for financial planning as a standard-
ized profession supported by a recognized and robust designation, with education, training and experience requirements. There should be no dis- crepancies among planners when it comes to their body of knowledge. Further, financial planning should put clients’ interests first, centre around the creation of a comprehensive plan, and be established as part of a pro- fessional network, similar to the Canadian Medical Association.
When I was board chair, we developed strategic education initia- tives for planners at the new FP Canada Institute, providing our own training for ethics, behavioural finance and the integration of financial planning knowledge into one’s practice. Starting this year, these edu- cational programs are mandatory for certified financial planners.
During my time as board chair, I also consulted with several provinces on title protection based on educational requirements and ethics — a regulatory effort that will further professionalize financial planning. —Michelle Schriver
That financial planning isn’t yet officially a profession doesn’t influ- ence my decision to pursue this career — changes like title regulation indicate that professionalization is happening.
CLASS OF 2020
OVER 40 YEARS IN THE INDUSTRY
TUESDAY, OCTOBER 6 TORONTO REGION BOARD OF TRADE
77 ADELAIDE STREET WEST
CLOSING KEYNOTE BACK BY POPULAR DEMAND
CHARLES MYERS FOUNDER & CHAIRMAN, SIGNUM GLOBAL ADVISORS
EARLY BIRD
SPECIAL $149+HST
ENDS FRIDAY, JULY 31 REG. PRICE $199 +HST
3R
Platinum Sponsor
Gold Sponsor
CE accreditation powered by
Learn more and register online at Advisor.ca/ETFsummit2020 For any questions please contact genevieve@newcom.ca