Investment Funds Industry Welcomes Canada's Financial Literacy Leader

TORONTO, April 15, 2014 /CNW/ - The Investment Funds Institute of Canada (IFIC) released a statement today on behalf of its members, welcoming the appointment of Canada's first financial literacy leader.

"Canada's investment funds industry congratulates Jane Rooney on her appointment and looks forward to working with her to improve financial knowledge and behavioural outcomes for all Canadians," said Joanne De Laurentiis, president and CEO of IFIC. "As Canada's first financial literacy leader, Ms. Rooney has a remarkable opportunity to create a national vision for addressing the financial knowledge needs of Canadians – and IFIC members stand ready to contribute to realizing that vision," said De Laurentiis.

"Members of the investment funds industry are at the front lines of delivering financial education to Canadians through direct education to investors, development of educational tools, and sponsorship of financial literacy in the schools and programs for vulnerable populations," De Laurentiis noted. "We look forward to working with Ms. Rooney to identify and deliver the key elements of financial knowledge that can empower consumers to make sound financial decisions."

In its submission to the federal Task Force on Financial Literacy, IFIC identified the need for greater collaboration between government institutions, not-for-profit organizations and the private sector as fundamental to improving financial literacy. IFIC called for the creation of a national body to coordinate the work of all stakeholders engaged in helping Canadians build the knowledge they need to make informed financial decisions.  

"Today's appointment of a financial literacy leader is an important step towards our industry's goal of achieving greater collaboration across all financial literacy stakeholders for the benefit of Canada's financial consumers," said De Laurentiis.

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. By connecting Canada's savers to Canada's economy, our industry contributes significantly to Canadian economic growth and job creation. The organization 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, Senior Manager, Public Affairs, [email protected], 416-309-2317