Saturday, January 5, 2019

Canadians and Investment complaints

Canadians are provided investment advice under the lowly suitability standard by people that are operating with numerous conflicts-of-interest . As a result, the likelihood of being sold unsuitable investments, overcharged or sold expensive products is not insignificant. In addition, there is the usual assortment of wrongdoing including account churning, undue leveraging, , unauthorized trading, reverse churning and fraud. This means that the likelihood of having a complaint against your dealer is to be expected. There are many issues related to filing a complaint including not knowing your rights, a complex process and dealers who view a complaint in an adversarial manner rather than an opportunity to create client satisfaction and process improvements. This article details the challenges and offers some constructive changes for reform.

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