The Investment Industry Regulatory Organization of Canada has launched an online resource to help investors sort through the financial certifications advisors are using.
“The broad range of certifications can be difficult for investors to navigate,” says IIROC president and CEO Susan Wolburgh Jenah. The regulator created the index to help explain what more than 40 designations mean, as well as to highlight what’s required for advisors to achieve those certifications.
It’s a free list, says Wolburgh Jenah. Using it, investors can find out more about:
- issuing organizations;
- the status of a professional within those issuing organizations;
- the types of exams required to be certified;
- other prerequisites including education and experience;
- ongoing continuing education requirements; and
- investor complaint and public disciplinary processes.
This glossary complements proposed guidance issued earlier this year regarding the use of business titles and financial certifications.
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IIROC is finalizing that guidance and will issue it in 2014 to assist member firms in supervising the use of designations.
The regulator is also partnering with Better Business Bureau in its investor educational efforts. More investor resources are available within IIROC’s investor centre, which offers lists of questions that can be used to assess prospective advisors, for example.
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Advisors should earn their titles