IFIC Supports Next Steps in Ontario Financial Planning Review

TORONTO, Nov. 17, 2014 /CNW/ - The Investment Funds Institute of Canada today welcomed comments by Ontario's Minister of Finance, the Honourable Charles Sousa, regarding the government's next steps in considering changes in the regulation of financial planning and advice. Minister Sousa's comments were contained in the Ontario government's fall economic update, 2014 Ontario Economic Outlook and Fiscal Review, presented to the legislative assembly this afternoon.

IFIC welcomed the Minister's announcement of an expert panel and advisory group to provide him with recommendations on financial planning and advice. "IFIC members share the Minister's goal of helping consumers make informed choices about their investments, and we look forward to providing input and ideas to the committee and advisory group," said IFIC president and CEO, Joanne De Laurentiis.

"It's noteworthy that the Minister, in his statement, has acknowledged the role of financial advice and planning services in helping Ontarians achieve their goals for income security,"  De Laurentiis said. "The roundtables hosted earlier this year by the Ministry of Finance identified a number of opportunities for strengthening Ontarian's access to advice and their relationships with their advisors."

IFIC participated in the February 2014 roundtables and provided a written submission (February 5, 2014) responding to the consultation with several concrete suggestions.

About IFIC

The Investment Funds Institute of Canada is the voice of Canada's investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. IFIC is proud to have served Canada's mutual funds industry and its investors for more than 50 years.

SOURCE: The Investment Funds Institute of Canada

Sara Clodman, [email protected], 416-309-2317