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When a financial services professional moves from professional product sales to professional financial advice the financial advisory role becomes that of a fiduciary.

As a fiduciary, a track record of professional competence which includes character, integrity of purpose, ethical choice in every facet of financial decision making, unbiased client advice and a framework of practice management within an client centric focus is the de facto standard of professional practice. This standard is essential in ‘Raising The Bar’ from a transactional to a fiduciary level of practice..In Great Britain, Australia and the US the financial services regulatory bodies are at various stages of implementing the legislation which will make a professional financial advisor’s fiduciary role a professionally legal responsibility.

Canada will follow.It will have a profound impact on the delivery of professional financial services to the Canadian public.

When we seek advice on highly personal matters such as health, the law and finance the advisor/client relationship is one of mutual trust. It is values based. Trust is earned – not sold.

Whether a client wishes to acquire products or advice or both is a personal decision – for each client to make.

The financial services professional must be professionally prepared to deliver what each client needs, wants and expects.

14,000,000 boomers who are going through various stages of retirement for the next 18 years will need and expect nothing less than full confidence in the trust relationship they develop with their professional financial advisors.

Canadian financial professionals are quite capable of delivering.

Dan Zwicker
Toronto, Canada

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