FSCO/MFDA Regulations

In keeping with our transparency policy, we need to mention that we are governed by the rules and regulations as set forth by the Mutual Funds Dealers Association (MFDA) for investments products; and by the rules and regulations of the Financial Services Commission of Ontario (FSCO) with respect to insurance products.

In order to assist potential clients with choosing a financial services broker we have provided some key information below that should be considered.

The key to long-term financial success is in making sure that, as a client, you have access to sound, objective, financial advice.  By asking the right questions, you will be able to determine if there are any conflicts of interest apparent in your relationship with your advisor or with any of the products or services that they are offering you.  For example:

  • Is the company only offering to broker certain products and not others because the payout on these products is higher as compared to other more suitable products?
  • Is a company only offering its own proprietary products although there may be other better performing products available in the marketplace?

When seeking guidance with respect to your finances, it is very important to find a company that is both competent and ethical.  The next step would be to choose a financial advisor who displays the same characteristics.  This decision should not be taken lightly as you will be providing them both with your personal information and should have confidence that this information will not be misappropriated.  Financial Advisors are governed by the Know Your Client rule, this is important because for any advisor to provide effective service and prudent advice, they must have all the relevant client information at their disposal in order to make an assessment based on a needs analysis and finally to offer professional advice.

At 3i Financial, what matters to us is the performance of the products that we utilize to match our client’s needs.  We expend significant effort to ensure that we only offer the best products and services to our clients from the strongest providers in the financial industry.  We then monitor those products, and companies on an ongoing basis to be sure that they remain the best for you.  Since we deal with a large number of mutual fund and insurance companies’ products, we are free to choose the ones that we believe will perform the best.

You should expect your Financial Advisor to be competent and ethical and to put your interests first and foremost, at all times.  You should also expect them:

  • To deal with you fairly, honestly, and in good faith.
  • To gather all the pertinent information from you in order to better understand your financial needs and objectives.
  • To make recommendations consistent with your needs, objectives, and risk tolerance.
  • To fully disclose any risks associated with the recommendations they make.
  • To avoid any conflicts of interest and refrain from acting in any way that could potentially create a conflict of interest.

Lastly, to obtain your express authorization in advance of every transaction entered into while acting as an agent on your behalf.