If embedded commissions are banned, many clients would probably lose access to advice
Regulators’ proposals to impose a best interests standard would be “duplicative and confusing”
How will removing embedded commissions enhance the client experience? And how will a fiduciary standard work exactly?
By eliminating incentives, we’re driving down excellence by rewarding minimum expectation
The conflicts of interest in selling products with embedded commissions are enormous, as evidence shows
Banning a specific type of compensation will not magically turn abusers into non-abusers. They will just find new ways to abuse
Banning embedded fees will reduce options for smaller investors
Provincial difference of opinion on a new standard for advisors does not presage a divided co-operative securities regulator
As the U.K. reconsiders rules banning embedded commissions, Advocis reaffirms its commitment to both raising proficiency standards for advisors and embedded compensation
It’s worth reviewing the experience of the U.K., where advisors have faced higher proficiency standards since 2013