Online search engines and directories
Most advisors belong to an industry organization. Some of these professional groups regulate their own industries. Most can help you search for advisors on their websites. Here are 5 groups to try.
1. Investment Industry Regulatory Organization of Canada (IIROC)
IIROC is a national self-regulatory organization that oversees investmentInvestment An item of value you buy to get income or to grow in value.+ read full definition dealers and trading activity on debtDebt Money that you have borrowed. You must repay the loan, with interest, by a set date.+ read full definition and equityEquity Two meanings: 1. The part of investment you have paid for in cash. Example: you may have equity in a home or a business. 2. Investments in the stock market. Example: equity mutual funds.+ read full definition marketplaces in Canada. View this list of dealers they regulate. You can also do a background check on advisors regulated by IIROC.
2. Mutual Fund Dealers Association of Canada (MFDA)
4. Financial Planning Standards Council (FPSC)
The FPSC is a not-for-profit industry group that develops, promotes and enforces professional standards for financial planners in Canada. Use this directory to find a Certified Financial PlannerFinancial planner An individual who looks at your financial situation and builds a complete plan to help you reach your goals. The process may cover: financial planning, risk management, investment planning, tax planning, retirement planning, and estate planning.+ read full definition near you. They also publish an annual list of planners who have faced disciplinary action.
5. Portfolio Management Association of Canada (PMAC)
Anyone selling securities or offering investment advice must be registered with a securities regulatorSecurities regulator A government agency that enforces the securities act in jurisdiction it has authority over. This act is made up of laws that establish rules for issuing and trading securities. The Ontario Securities Commission is the securities regulator for Ontario.+ read full definition, unless they have an exemption. Check registrationRegistration A requirement for any person or company trading investments or providing advice in Canada. Securities industry professionals are required to register with the securities regulator in each province or territory where they do business.+ read full definition through the Ontario Securities Commission or Canadian Securities Administrators.
Check the Canadian Securities Administrators (CSA)Canadian Securities Administrators (CSA) The Canadian Securities Administrators (CSA) is an umbrella organization of Canadas provincial and territorial securities regulators whose objective is to improve, coordinate and harmonize regulation of the Canadian capital markets+ read full definition disciplined persons list to see if an advisor has been disciplined by their provincial securities regulator.