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Political Pulse

Ontario LegislatureAdvocis 2016 Ontario Legislature Day

Advocis held its 11th annual Legislature Day at Queen's Park in Toronto on May 10, 2016. Over 100 Advocis members attended the legislature day and held over 50 meetings with MPPs to discuss key issues including the Ontario Securities Commission's proposal to ban embedded commissions and introduce a statutory best interest duty, and the interim report of the Expert Committee to Consider Financial Advisory and Financial Planning Policy Alternatives. Advocis members emphasized the benefits of moving our industry to a profession as an alternative to current regulatory proposals that will eliminate access and choice to professional financial advice for most Ontarians.

Advocis members had the opportunity to sit in the legislature gallery during Question Period to witness a lively debate. Many MPPs took the time to recognize several Advocis members who travelled to Toronto from across the province to represent their professional association.

The evening reception in the legislature dining room provided another opportunity for Advocis members to engage over 35 MPPs and several of their political staff in a social and relaxed setting. Our MC for the evening reception was Ontario Provincial Advocacy Committee Executive Chair Linda Gratton from Peterborough. Formal greetings were delivered by the Hon. Charles Sousa, Minister of Finance and MPP for Mississauga South; Victor Fedeli, PC Finance Critic, MPP for Nipissing; and Jennifer French, NDP Critic for Pensions, MPP for Oshawa. All three speakers agreed to continue to work with Advocis to build a regulatory framework that adequately protects consumers and to create an environment that gives people greater access to professional financial advice, while raising professional standards.

Alberta Legislature DayKey messages delivered by Advocis members were that the value of financial advice positively impacts Ontario consumers, the economy and the government, and that the regulatory environment is creating significant barriers for middle class, "main street" Ontario families and small business to access professional financial advice. MPPs recognized the importance of financial advice and the role that small business financial advisors play in raising financial literacy of consumers in every community across the province.

Advocis continues to advocate to the Expert Committee to Consider Financial Advisory and Financial Planning Policy Alternatives during their consultation process. Advocis strongly encouraged the government to create a true profession of financial advisors, which will give consumers the assurance they are dealing with an ethical, qualified and knowledgeable financial advisor and the representation advisors deserve as part of their our professional body.

Thank you to everyone who participated in making our legislature day a success.

Ontario Legislature

Ontario PC MPP, Vic Fedeli stood in the legislature on May 18 and gave a members statement about the value of financial advice and the need for professional title protection for financial advisors.


For more information, please contact:

Peter Tzanetakis
VP, Government and Corporate Relations
Tel: 1-800-563-5822, Ext. 9813

Katie Porter
Administrative Assistant, Government and Corporate Relations
Tel: 1-800-563-5822, Ext. 9860

Andrew Kimber
Manager, Government Relations
Tel: 1-800-563-5822, Ext 9817


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