ADVOCIS 2022 ANNUAL REPORT: STRONGER BETTER

STRONGER BETTER

PRESIDENT & CEO’S MESSAGE

Greg Pollock

CFP, M.Ed., L.L.M., C.Dir. President and CEO, Advocis

In 2022, the preparations we had undertaken to emerge from the pandemic as a Stronger and Better association began to take shape. As we solidified a significant overhaul of our internal staffing and systems to improve member service while also growing into an entirely new kind of role through our work with FSRA to support the first steps of title protection in Ontario, it has been a year of remarkable change.

In our comprehensive regulatory work throughout 2022, title protection was at the forefront but was far from the only place in which we made an impact. Our voice was also heard on issues relating to the fair treatment of customers, total cost reporting for advisors, and more. We continue to represent a viewpoint that strikes a balance between the public interest and the ability of financial advisors to work towards it.

We were also incredibly pleased to hold the 14th Annual Regulatory Affairs Symposium once again in person. This is an event I believe is critical to building relationships between the many facets of our industry, and the possibility it presents for face-to-face communication is not one that can ever reach its full potential in a virtual setting. This is equally true of the live events that took place with the help of our Chapter Relations staff, particularly the outstanding 2022 Chapter Leadership Conference which we were pleased to host in St. John’s alongside our Newfoundland and Labrador Chapter.

And while in person events return to prominence for our national staff as well – especially through the efforts of our Business Development team, who attended multiple events this year while establishing several new corporate partnerships – a great deal of work has gone on behind the scenes as well. Our Learning and Development department has engaged not only in consultation and redevelopment of our existing educational initiatives but are equally looking towards the future through innovative programs such as the Life Insurance Professional Certificate (LIPC).

Marketing and Communications is also growing the public-facing profile of our organization through efforts such as our annual campaign for Financial Literacy Month – a campaign which this year won bronze in the annual FCS Portfolio Awards.

The work of Advocis Broker Services in 2022 was also commendable, with their organization now fully up to speed with a modernized digital system that offers excellent ease of use and convenience for customers. Powerful online solutions such as these will continue to increase in importance throughout our industry, and through our own efforts to find the cutting edge as our members also pursue it through the guidance of groups such as our Technology and Innovation Committee, I am confident that we will continue to reach towards our strategic vision, and our desire to create an Advocis that will serve the future of the profession.

As we continue into 2023, we look forward to facing both the challenges and possibilities of that future with you.

CHAIR’S MESSAGE

Catherine Wood

As I look back on my tenure as Chair of the TFAAC Board of Directors for 2022, I consider myself fortunate to have been responsible for the organization during a time of transition and progress. While the pandemic has placed us in a complex and challenging environment, the good news is that the lessons learned have demonstrated the need for Canadians to have a more holistic and inclusive view of their finances –and made professional financial advice ever more important.

Will we continue to remain prepared for new developments? Always. As financial professionals, the evaluation of risk is second nature to us, but I am confident that Advocis’ motto of Non Solis Nobis – Not for Ourselves Alone will remain as true to how we conduct ourselves and support each other as it has ever been.

As we continue to advocate for title protection and other significant regulatory changes, we must be prepared to challenge and reach the high professional bar that we have set for ourselves so that Canadians can achieve better financial outcomes. We must not only raise the bar of professionalism, but also continue to evolve how we deliver financial advice: With more empathy, greater appreciation for the unique and diverse needs of Canadians, an increased emphasis on advice-based conversations, and evolving our practices to incorporate the right balance of digital and in-person interactions.

The past year has also shown the importance of our membership and volunteers, and how community is key to the strength of Advocis. As an association, we are always striving to increase the value of membership, and I would like to encourage our members to continue engaging with the opportunities within their Chapters –especially in-person. Also, take advantage of what National has to offer in terms of CE and designation programs to enhance your experience. The Board is tremendously excited to bring our approved strategic plan for 2023 – 2027 to life, and we cannot do it without you. The future of Advocis is in your capable hands.

Within the Board, we are also continuing our tradition of passing leadership onwards to ensure that our thinking and perspective is continuously renewed. Having worked with him on the Board for several years, I am confident that Eric Lidemark will be an outstanding leader for our association.

On behalf of the Board, I would like to extend our thanks to our member volunteers, the staff at Advocis National, and to all financial professionals who have worked tirelessly in the past year to build better and more secure financial futures for individuals, families, and businesses from coast-to-coast.

CFP, CLU, TEP, CHS, MBA, MISt, ICD.D.

STRATEGIC ENGAGEMENT

Strategic Engagement is a method of finding, attracting, and keeping the best customers for your business or organization. It utilizes science and technology combined with creativity and psychology to achieve efficient and sustainable results.

MEMBERSHIP

A vibrant, engaged member community is at the core of any strong association, and 2022 once again proved the resiliency and adaptability of our 17,000+ member-clients and 400+ volunteers as we eagerly welcomed a slow but optimistic return to in-person meetings, events, and programs. The Chapter Leadership and Strategies for Success conferences in June alone brought together 203 members in St. John’s Newfoundland for the first time since 2019!

2023 MEMBERSHIP RENEWAL EXPERIENCE

How would you rate your online transaction experience with us today?

4.6 average rating (November-December 2022)

There is little doubt that there were bumps along the proverbial road as we all dealt with the ongoing challenges of health and safety protocols, a return to a different type of office environment and the need to balance these with a continued need for virtual accessibility and evolving technology tools and infrastructure. Advocis was not exempt from this and, consequently, the launch of a new online renewals platform resulted in a less-than-ideal experience for both members and Advocis staff. The patience, support and constructive feedback from our members was deeply appreciated as Advocis staff began working to prepare and improve the 2023 renewals experience from the moment the 2022 renewal period ended.

These improvements included system and process upgrades to simplify the experience as well as the hiring and training of additional Member Services staff to assist members with their questions and concerns. We’re pleased to say that the majority of members were pleased with these improvements, and we look forward to delivering an even better overall member experience in 2023.

Membership Growth

2022 saw a 92% Member Retention in the number of Advocis members and clients. “Word-of-mouth” continues to be a powerful driver for new membership. As a respected and effective voice within the industry in representing advisors and their clients, our strength as a professional association is in our numbers.

NPS stands for the Net Promoter Score, which is the world’s leading metric for measuring customer satisfaction and loyalty. It goes beyond measuring how satisfied a customer is with a company, also gauging their willingness to recommend it to others. Our Net Promoter Score of 67% in 2022 was based on member survey responses obtained in November/December during Advocis membership renewals.

How

Membership Fee Model

* Institute designation holders who hold one or more Institute designation(s) in the Practicing Advisor, Manager Member or Associate Manager Member categories received a 50% credit on their annual Advocis Membership fee.

Professionalism.

Please note: The Member’s Assistant category was discontinued for 2023, and those in the category were transitioned into either the Associate Member category or the Practicing Advisor category.

Membership Fee Increase

From licensing to succession planning and retirement, Advocis supports the growth of its members by providing a rock-solid platform built on the pillars of professionalism, advocacy, and community –and over 115 years of experience.

Along with other goods and services in Canada, inflationary pressures made it necessary for Advocis to increase Advocis membership fees to continue to deliver the programs and services our members deserve and expect.

Advocis Fees Provide:

Community

• Access to a local community of professionals through a network of 40 chapters located across Canada

• Participation in social, charitable and educational events and activities organized at both the national and local levels

• Professional growth and leadership opportunities through a variety of roles or positions on a local board, as well as over a dozen different national-level boards and committees focused on strategy, issues and initiatives most relevant to our membership, our clients, and the industry. From the Advocacy Network to the Technology and Innovation Committee (TIC), Advocis has a group that will appeal to all professional interests

Advocacy

• Built over a century of experience, expertise and grassroots grit, Advocis has earned its members a respected voice at the table with key decision-makers

• Continuously working to elevate the visibility and credibility of professional financial advice with the industry, regulators, government, media and the public

• In-depth monitoring, submissions and participation in consultations on regulatory issues that impact our members and their clients

Professionalism

• Advocis is uniquely positioned to offer advisors a pathway to professionalism through a robust selection of professional development options. From licensing (LLQP) to designations (CHS, PFA, CLU, QAFP, CFP) and continuing education programs like Coffee Talks and UPDATE 2022, Advocis is working tirelessly to advance these interests

• Errors & Omissions insurance is a professional requirement for all practicing advisors. Advocis Broker Services – a wholly-owned subsidiary of Advocis - offers coverage tailored to the needs of the professional advisor. As a member in good standing and in full adherence to the Advocis Code of Conduct, members are entitled to a guaranteed discount on their policy

• By joining Advocis, a member demonstrates their commitment to hold themselves to a higher standard by agreeing to adhere to a Professional Code of Conduct. As membership with a professional association is – at this time – voluntary in Canada, Canadians who work with an Advocis member can be confident in knowing that they have partnered with a professional

MEMBER & CLIENT SERVICES

The Member & Client Services team is focused on providing support to our members and clients via telephone and email by responding to their questions and concerns in a timely and relevant manner.

Phone Service Levels Increased to 80%

Increasing service levels was the main goal for Member & Client Services in 2022. A professional call centre mindset was introduced into the department along with an updated Zoom phone system. Daily, monthly, and annual reporting was implemented for the team with priority given to ensuring calls were answered, resulting in a significant reduction of missed calls and voicemails. To ensure that member-clients across Canada have access to the Advocis call centre during business hours, we extended our hours of operation in 2022 to 8:00 a.m. to 8:00 p.m., Eastern Standard/Daylight Time.

Response Time Reduced to 1-2 Business Days

Standards for processing registrations and responses to other requests were reduced to 1 – 2 business days, with an emphasis on 1-day whenever possible. Cross training was introduced in 2022 to ensure depth within the team and the ability to maintain consistent service levels.

ADVOCIS CHAPTERS

The Chapter Relations team is focused on providing high-value, proactive chapter member engagement strategies and campaigns that are on-brand, consistent and professional – as well as provide each chapter with the ability to showcase its unique value in helping to grow great advisors.

Supporting The Advisor Of The Future

Across the country, 40 Advocis chapters led by member volunteers work throughout the year to support the professionalism and education of advisors and planners, as well as lead advocacy, financial literacy and mentorship initiatives while fostering chapter community.

Chapter Presidents oversee the well-being and sustainability of each individual chapter and consult with the national Chapter Leadership Council of Advocis to align to strategic and operational requirements.

Chapter boards – consisting of volunteer leaders with years of professional practice – guide chapter operations through coordinated activities that support local member needs for development, connection and success. This includes:

• Education initiatives that advance professionalism, designation achievement and business development

• Advocacy awareness and engagement, and strengthening the voice of advisors within the industry through provincial and federal advocacy activities

• Community building through initiatives that promote fellowship, collaboration and mentorship, as well as community leadership -particularly as ambassadors for financial literacy

In 2022, Advocis chapters organized over 350 events, held virtually, in-person or hybrid, including:

• Learning modules and mentored activities to support the practice development of new advisors

• Chapter study groups to support members working towards designations

• Advanced learning case study group discussions

• Webinars on a wide range of topics relevant to today’s practitioner, and to the advisor of the future

• Ethics and risk management sessions

Emerging Together Through Chapter Community

“Emerging Together” served as a collective shared purpose and call-to-engage across chapters throughout 2022 as volunteer members actively sought opportunities to encourage local advisor communities to come back and re-connect.

Our dedicated chapter leadership network focused on finding ways to not only support the continuing resilience of advisor members in these evolving times, but also to leverage the special power that comes with the depth and strength of Advocis chapter community – one that can enable the connection, education, mentoring and fellowship that helps to grow great advisors.

Supporting The Advisor Of The Future

Advocis chapters look to how they can create welcome spaces for advisors, both new and established, to come together to learn, develop and grow professionally while working towards a designation or otherwise enhance their expertise and skills. Some examples from 2022 included:

• Greater Vancouver welcomed over 185 attendees for the return of Building Blocks for Success, their in-person signature program for those in the financial planning, insurance and investments industry

The event was designed for participants of all levels to learn directly from their peers on how they can achieve success at any level in their careers and featured curated ‘TED-Talks’ style presentations

As a reflection of the chapter’s commitment to DIBE, they invited attendees to “connect with familiar faces and make new acquaintances in a safe, positive, inclusive environment”

• Chapters from coast-to-coast hosted monthly modules of the Advocis Practice Development Series, providing opportunities for advisors to engage with chapter mentors and industry leaders. The sessions focus on the practical skills and knowledge newer advisors need to be successful such as business planning, sales process, prospecting and marketing

Study group opportunities provided in 2022 included:

• Calgary, Kingston and Durham Region chapters led delivery of the CLU Advanced Learning Series. With sessions run virtually, CLU holders across Canada were able to join in for sessions which featured case study discussions on various topics

• To support advisors pursuing their CLU designation, both Calgary and Edmonton chapters offered CLU 257 exam prep study groups for local members

• Advocis Ottawa launched the network’s first chapter study group for students enrolled with the Advocis LLQP licensing program

Professional Development Days

2022 saw the return of a popular staple in chapter member engagement – the professional development day. These full-day events provide an opportunity for member and non-member advisors and planners to come together for education, fellowship, and networking to support their professional development and practice enhancement while allowing for engagement with key Advocis activities on professionalism, government relations and regulatory affairs.

Among the many opportunities in 2022 coordinated by chapters:

• Prairies Region Fall Conference & Mixers

• Northern Ontario Education Summit

• Strategies for Success for the Advisor Today and Tomorrow

Chapter Leadership Conference

The Chapter Leadership Conference is an opportunity for chapters to come together to collaborate on goals and share strategies for excellence in supporting member success and community. An essential foundation for volunteer executives assuming leadership roles, the conference is a great opportunity to discuss key priorities for the future, discover new ways to remain relevant and effective to members in today’s industry, and develop strategies to forge forward together.

The 2022 conference was held alongside Strategies for Success in St. John’s, Newfoundland and Labrador. Aligning with its theme of Between a Rock and a Soft Place, the Leadership Conference explored the concept of Emerging Together with the agenda focused on workshops, chapter sharing and breakout time for delegates to discuss and explore ways they and their teams, together with members, communities and their sponsors, can emerge together from this pandemic, stronger and more inclusive.

Chapter Awards of Excellence

Presented annually at the Chapter Leadership Conference, the mission of the Advocis Chapter Excellence Awards is to inspire a culture of chapter excellence, recognition, and collaboration. It promotes a culture in which chapters and volunteer leaders from coast-to-coast are encouraged to pursue meaningful opportunities; to innovate for growth, and to excel in supporting member needs for education, advocacy, community, and professionalism.

Volunteers of the Year:

• British Columbia: Philip Bisset-Covaneiro and Nahanni Ackroyd, Advocis Vancouver Island

• Alberta: Amanda McCloy, Advocis Edmonton

• Prairies: Cynthia Duncan (in memoriam), Advocis Winnipeg

• Ontario North East: Janice McFarlane, Advocis Ottawa

• Ontario Central: Taivi Tayler and Elaine Erhart, Advocis Simcoe

• Ontario South West: David Reeve, Advocis Golden Triangle

• Atlantic: Jennifer Murphy and Melissa Hill, Advocis Nova Scotia

Chapters of the Year:

• Advocis Toronto and Advocis Vancouver Island

Inclusion and Belonging

Through programming and local engagement, Advocis chapters aim to nurture community and a culture of inclusion and belonging to create a space for member and non-member advisors, volunteers and our community partners that welcomes ideas and conversation, embraces unique experiences and perspectives, and builds connections. Some highlights from 2022 include:

• Events to celebrate International Women’s Day were held by chapters, each encouraging unique conversations

• Advocis Calgary launched a Women Advisors’ Mastermind chapter series as a community of local female financial advisors to support their ongoing personal and professional development

• To kick-off Pride Month, Advocis Newfoundland & Labrador hosted a half-day virtual event titled “Equality Starts From Within” featuring guest speaker Dane Woodland, a consultant whose focus is on supporting and transforming inclusive practices

• Ontario North Advocis chapter leaders coordinated the first presentation of a new women’s mastermind program developed by Jane Blaufus. Presented as a half-day pre-event opportunity before the Spring session of the Northern Ontario Education Summit, the session focused on enabling group conversation on topics of mindset, marketing/branding, value of your time, opportunities for the future of women in the industry, women and wealth, and the intergenerational transfer of wealth

Growing Program Partnerships

Through their program planning in 2022, chapters sought to expand their networks locally to connect with allied professionals and partners to engage advisors in specialized conversations that can help to broaden insights, perspectives, and ways of engaging with clients.

For example, Advocis chapters are increasing their spotlight on Canada’s aging demographics, and hosted several events focused on helping advisors enhance their services and supports for seniors.

Other highlights include:

• Advocis Ottawa hosted a professional development day entitled “Connecting with Aging Clients and Families”, featuring discussion of eldercare planning, service navigation and advice through difficult life transitions and choices

• Advocis Kingston held the inaugural session of the new Advocis chapter program “Working with Senior Clients”, which aims to help financial advisors and planners develop the practices and processes that will protect and empower their clients and protect their practice

• In the first cross-regional collaboration in the chapter network, Advocis Medicine Hat led seven Advocis chapters from coast-to-coast to host Canada’s “Farm Whisperer”, Elaine Froese, for a virtual session entitled Farm Family Business Coaching Insights to help advisors engage agricultural and small business families in courageous and necessary conversations for transition planning

National Volunteer Week: “Empathy in Action”

For 2022, the chapter network focused on the top volunteer passion points for Advocis chapter leaders with a think tank on Financial Literacy, a mastermind roundtable on Mentorship and a nationwide information session on the Advocis Advocacy Network. Sessions were led and attended by volunteer leaders who have gone above and beyond in these areas from coast-to-coast. The engagement on these topics continued to social media with the Chair of the Chapter Leadership Council, William Britton, hosting an open conversation with volunteer members on why they care about and volunteer with Advocis. Additionally, chapter leaders from across Canada worked collectively to create a video featuring their comments on what empathy in action means to them, and how our volunteers demonstrate it every day.

SUPPORT

Advocis Chapters and Our Communities

Advocis is committed to advancing financial advice across Canada, and we encourage chapter-driven financial literacy initiatives, programs, and relationships. Advocis chapters are uniquely positioned to mobilize and engage financial leaders to support and participate in dialogue and education opportunities to advance financial literacy and financial health across Canada’s geographic and demographic communities.

Supporting Social Health

Reflecting a spirit of giving back, many Advocis Chapters work with local social services to help raise awareness of and support for community needs. Through a combination of virtual and in-person events, many chapters found ways to support important local initiatives in 2022.

Connect, Golf or Ride, & Give Back!

Several chapters hosted golf tournaments which provided opportunities to bring members together to reconnect through a fun outdoor activity while also supporting community organizations. Among these events:

• Advocis Edmonton hosted its annual golf tournament benefiting Sport Central, raising $5,715 to help provide equipment for children living in low-income households

• Advocis South Saskatchewan hosted its annual 65 Roses Tournament for Cystic Fibrosis Canada Since 1985, $373,425 has been raised by the chapter for CF from this community-loved event

• Advocis North Saskatchewan continued their relationship with READ Saskatoon in support of the RESP Matched Savings Program, raising $11,602.04 from its summer golf tournament

• Advocis Peel Halton presented Community Living Mississauga with $1,370 raised through activities at their chapter golf event

• Chapters across British Columbia joined together to participate in the Tour de Cure cycling fundraiser for cancer research, helping to raise $23,853, leading to a two-year total raised of just under $70,000

• Our member community also turned out for golf tournaments organized by Advocis Durham, Advocis Golden Triangle and Advocis South Saskatchewan, to benefit long-time charitable partner Cystic Fibrosis Canada

Supporting Christmas Gifts and Hampers

• Advocis North Saskatchewan hosted its annual fundraiser to provide toys and food hampers to families in need at Christmas. Formed in 2000, the Denny Carr Secret Santa Foundation aims to ensure every child receives a toy at Christmas. The chapter raised $14,000 for the Secret Santa Foundation

• Advocis Edmonton has had a multi-year relationship with community partners Christmas Bureau that is actively supported by their members.

Adopt-A-Teen is a program of the Christmas Bureau of Edmonton which provides gifts to less fortunate teens aged 13 to 17 years. Event attendees helped raise $12,345, bringing the chapter’s 10-year donation total to $124,041

BUSINESS DEVELOPMENT

The Business Development team is focused on the pursuit of strategic opportunities for Advocis by cultivating partnerships and by identifying new markets or prospects for our products and services.

Partnerships

We are pleased to have onboarded Longevity Achieved, Best Doctors and Greatway Financial to new national partnerships through our Corporate Partner Program in 2022.

The Business Development team successfully refined The Advocis contract renewal process, resulting in a streamlined Advocis Chapter Sponsorship package procedure. This made for an easier decision-making process for Corporate Partners on which chapters to support across the country.

We also started discussions in 2022 about partnerships with FinTech partners to provide advisors with information on the latest tech tools for their practice.

Consultations

49 consultation meetings occurred in 2022 regarding education and memberships, resulting in 55 new membership applications and 1 CLU registration.

Virtual meetings with members were also conducted throughout the year to assist them in understanding their membership, member benefits and education pathways through Advocis programs.

Events

Maintaining visibility for Advocis was a key focus for our team as we attended 18 in-person National, Chapter, and Corporate Partner events throughout the year. This resulted in more than 100 escalated queries through emails, calls, or meetings.

Diversity, Inclusion,Belonging & Equity (DIBE) Strategy

We worked with consultant Dean Delpeache of Strasity Inc., to continue development of our foundational DIBE strategy for employees, leadership, and membership.

The DIBE Strategy and related initiatives will be rolled out through the DIBE Committee managed by the Chapter Leadership Committee (CLC) in 2023.

Advocis Book Club

The Advocis Book Club was started in 2021 by the Business Development team to create a new community exclusively for Advocis members during the height of the COVID-19 pandemic. With 417 members by the end of 2022, the Book Club is managed by PBC Guru, with all discussions held virtually in a private online forum where members can connect to discuss the current book (business-related titles that are a good match for our financial advisor community) and network with each other.

GAMA GLOBAL CANADA

GAMA Global Canada is the only Canadian association dedicated to promoting the professional development needs and leadership skills for management in the financial services industry and promoting their professional development needs.

GAMA International’s mission is to:

• Offer world-class education and training resources to members

• Provide opportunities for members to build relationships with peer professionals

• Recognize members for achieving standards of excellence in distribution management, and

• Promote growth through industry LEADERSHIP opportunities

Who are our members?

• Those in a leadership role within the financial services industry

• Those roles who include

- Coaching & Leadership

- Business Development (including sales, marketing, practice management, compliance and technology)

- Training and education

- Recruitment and selection

In 2022, GAMA rebranded from GAMA International Canada to GAMA Global Canada

Awards

In 2022, 72 GAMA members received one or multiple GAMA Global Canada International Management Awards

These are awarded annually in four categories:

• The National Builder Award (NBA)

• The National Multi-Line Exclusive Agency Management Award (NMLEA)

• The National Achievement Award (NAA)

• The National Management Award (NMA).

GAMA GLOBAL CANADA’S

2022 Management Awards

2022 GAMA GLOBAL CANADA MANAGEMENT AWARDS

The 2022 GAMA Global Canada Management Awards recognize the highest leadership achievements in Canada’s financial services industry.

National Builder Award (NBA) Winners

This award recognizes outstanding achievement in agency-building, production and field development.

Peter Gillespie

Joannis (John) Panago

Sonny Sangemino

Alfred Roissl

Jason Poulton

Mark Lewans

Djebran Mehdawi

Blanche Tse

Jerome Pusung

Sam Luong

Herman Chan

Wes J Scott

Dawn Ewing

Jill Wu

Clarke Duncanson

Daniel Chuang

Marco Levesque

Scott Grant

Craig MacTavish

Izumi Miki McGruer

Ronald James Gilson

Ronald James Gilson

Mark Dickson

Darren Rosenberger

Nubia Gomez

Taha Al-Dabagh

Wayne Kiryk

Annadette Clarke-Moore

Darin Calderwood

Greg Taylor

Adrian Fung

National Multi-Line Exclusive Agency Management Award (NMLEA) Winners

This award recognizes the growth of a Multi-Line Advisory team with a focus on exceeding various performance levels of the Agency Managers team in the areas of new Life Insurance, new wealth and new Property and Casualty sales.

Alfred Roissl

National Achievement Award (NAA) Winners

This award represents the very pinnacle of management excellence among GAMA Global Canada members.

Peter Gillespie

Joannis (John) Panago

Alfred Roissl

Djebran Mehdawi

Blanche Tse

Jerome Pusung

Herman Chan

Wes J Scott

Karl Krokosinski

Stephane Cyr

Scott Grant

Craig MacTavish

Izumi Miki McGruer

Brad Unraw

Mark Dickson

Darren Rosenberger

Nubia Gomez

Taha Al-Dabagh

National Management Award (NMA) Winners

Annadette Clarke-Moore

Darin Calderwood

Greg Taylor

Sonia Wu

This award honours achievement in agency management, particularly increases in production.

Peter Gillespie

Joannis (John) Panago

David Feldberg

Alfred Roissl

Djebran Mehdawi

Jerome Pusung

Herman Chan

Wes J Scott

Shawn Smith

Scott Grant

Craig MacTavish

Izumi Miki McGruer

Nubia Gomez

Taha Al-Dabagh

Darin Calderwood

Greg Taylor

Sonia Wu

MARKETING & COMMUNICATIONS

The Marketing and Communications team is focused on effectively building, protecting, and presenting our brands (and their offerings) through a combination of communication channels and tools for the purpose of awareness, sales, advertising, and promotion.

Financial Advice for All Campaign

“Making Changes that Count” was the theme for Financial Literacy Month in 2022. The Financial Advice for All website was populated with new resources and articles for members to share within their network and communities. The site generated 5,918 pageviews in the 4-week period of the campaign. The campaign included:

1. Three Instagram Live episodes interviewing members on:

• How to ‘Shift your financial mindset’ – 46 Live attendees & 312 replays

• Managing your money – 82 Live attendees & 233 replays

• Assisting clients to make financial decisions – 68 Live attendees & 457 replays

2. A special edition of Coffee Talks on the different stages of financial literacy and the hierarchy of financial needs. This webinar had 350 registrations and the recording generated 43 views in the first week it was posted.

3. Twitter Chat was also included for Financial Literacy Month, and included Advocis hosting a chat on November 16 with financial advisors, advisory firms, and other financial literacy-minded groups who all came together to drive a valuable discussion on how we can work towards building greater financial literacy for Canadians.

4. The Junior Financial Advisor (jFA) Fin Lit Teen Kit was created to complement the Junior Financial Advisor (jFA) Kit that was created in 2021 for younger children. Both kits were made available to Advocis members digitally in a variety of formats to either print or distribute digitally. The kits featured activities and tips for kids and teens related to financial literacy. A Discussion Guide was also created for both kits to guide parents, guardians, teachers, and Advocis members with questions that can help guide conversation as they move through the kits.

5. Sharable infographics and a press release was created to highlight what was top of mind for advisors and their clients through a poll held by Advocis of more than 200 member advisors to better understand the top financial concerns of Canadians. We also created shareable infographics specifically for Advocis Members to share across all social media networks, email newsletters and other relevant channels.

ABS National Promotional Campaign

The National campaign for Advocis Broker Services (ABS) was created to bring awareness to their Full Suite and Cyber & Privacy offerings.

Campaign Run:

• April 26, 2022 – December 15, 2022

The campaign Included:

1. Social posts on all ABS platforms

2. Two dedicated HubSpot pages

3. Paid social ads visible on LinkedIn, Google and Facebook

Campaign Results:

• Over 16,500+ impressions on the two landing pages and over 1,200 conversions of people navigating to the ABS website from the landing page to request a quote/learn more

ABS Promotion Page – Full Suite

• Pageviews: 15,740

• Average time per page view: 5.6 minutes

• Source Traffic: 91% paid search, 9% paid social

ABS Promotion Page – Cyber Security

• Pageviews: 794

• Time per page view: 2.6 minutes

• Source traffic: 96% paid search, 4% paid social

Advocis Membership Renewal Campaign

In collaboration with the Advocis Information & Technology department, we created a simplified Online Renewal Process for Advocis members for the 2023 renewal year. The process was streamlined so members were only required to verify their information and check a box for Advocis attestation. Once completed, members were asked to enter credit card information to complete the renewal process.

To ensure a positive 2023 membership renewal process for the general membership, we also asked volunteers and board members to participate in an early online renewal and feedback opportunity. This enabled our team to correct any issues found prior to the general membership renewal campaign. A dedicated email address was also utilized to ensure that any renewal-based issues were captured and prioritized.

PFA Awareness Campaign

With the announcement from FSRA approving the PFA designation for Financial Advisor title use, we ran a social media awareness campaign for the PFA program between April 26 and December 1.

As part of the campaign, we created a dedicated HubSpot page, purchased LinkedIn ads and posted actively across social about the benefits of taking the PFA program.

Campaign Run:

• April 26, 2022 – December 1, 2022

The Campaign Included:

1. Social posts on all our Advocis platforms

2. Dedicated HubSpot page

3. Paid ads on LinkedIn

Campaign Results:

• 47 people registered for the first PFA course (PFA 791)

• 11 people registered for the other three PFA courses (792, 793, 794)

• 5 people registered for the full PFA bundle

• 40 people registered to write the PFA exam

We continued our launch of digital badges for Advocis Members and Institute Designation Holders in 2022. In 2022, 1,805 Institute Credly issued badges have been accepted (combination of PFA, CLU, CHS), representing a 62% acceptance rate, 42% share rate and 2.38 views per share.

For Advocis Member badges, 1,652 have been accepted (combination of Member and Associate Member badges), representing a 29% acceptance rate, 40% share rate and 1.66 views per share.

Advocis continued to build upon our strong media foundation in 2022, successfully leveraging Greg Pollock (Advocis President & CEO), Catherine Wood (Chair, TFAAC) and Advocis members to field complex inquiries from top publications as it related to industry and consumerfacing issues. In total, there were 400 mentions of Advocis in industry and consumer media, both online and in print. Outlets that covered Advocis news included: Globe & Mail, Investment Executive, Wealth Professional, Advisor’s Edge, Insurance Journal, Money Sense Magazine, CTV News & Insurance Business Canada.

FORUM

FORUM is one of the oldest continuously published magazines in Canada. The magazine’s mandate is to help financial advisors serve their clients more effectively. In that vein, FORUM provides articles on retirement issues affecting clients, tax and estate planning, insurance and investment solutions, superior communications advice, and overall business management strategies. The September 2022 issue of FORUM was our first ever all female edition and sadly Deanne Gage’s last as editor. The December 2022 issue welcomed Alison MacAlpine as FORUM’s new editor.

ADVOCACY AND GENERAL COUNSEL

The Advocacy and General Counsel (AGC) is the voice of our membership before regulators, governments and other key stakeholders across the country.

The AGC department brings together the Legal and Regulatory Affairs (LRA) and Government Relations (GR) functions so that we can execute a coordinated approach to advocacy that is flexible, responsive and effective.

LEGAL AND REGULATORY AFFAIRS

LRA works on a wide array of issues affecting our members, including advisor professionalism; titles, designations and proficiencies; compensation and conflicts of interest; emerging technological trends in the regulatory-advisory space; and standards of conduct in the advisor-client relationship.

Title Protection Becomes a Reality

After several years of intense advocacy work, Advocis’ efforts bore fruit. In March 2022, Ontario’s title protection regime received ministerial approval and came into force on March 28. Soon thereafter, on April 11, the Financial Services Regulatory Authority of Ontario (FSRA) announced that it had approved Advocis’ own Institute for Advance Financial Education (the Institute) in the first tranche of Credentialing Bodies under the framework. FSRA also recognized the CLU designation as a credential for the use of the Financial Planner title, and the PFA designation for the use of the Financial Advisor title.

Both the LRA and GR functions were critical to these efforts. We were involved through the framework development process for over a decade, starting when title protection was a mere policy proposal, through some false starts with abandoned private members’ bills, to title protection becoming government legislation and working with FSRA to flesh out the fine details.

Then LRA worked closely and intensively with The Institute and other Advocis business units in the credentialing recognition process.

We are not resting on our laurels. In Ontario, there is still much work to do as this is an entirely new framework. Regulators and other stakeholders lean on us heavily to determine the next phases of this project, including how to continually increase standards of professionalism over time and even how to unspool defunct credentialing bodies and credentials from the framework.

We continue to forge ahead in other provinces. In 2022, we responded to Saskatchewan’s Financial and Consumer Affairs Authority’s (FCAA) consultation

on its proposed regulations of financial advisors and financial planners. In our submission, we supported the FCAA proposal to raise standards for the financial advisor title to align with a relationship-centric vision, rather than one based on product transactions. In addition, AGC staff met with regulators and government representatives in Saskatchewan and New Brunswick to express our policy views, our experience through the recognition process, and the lessons learned so far that could be of benefit in those provinces to improve their own title protection frameworks. We anticipate action in both Saskatchewan and New Brunswick in 2023.

The Voice of Canada’s Financial Advisors and Planners

Advocis continues to be the voice of Canada’s financial advisors and planners. In 2022, our voice was heard by regulators and other stakeholders across the country in the insurance, mutual fund and securities sectors. While the title protection file was our number one focus, we also dealt with a number of other issues. Written submissions in 2022 included the following:

Ontario Ministry of Finance: Capital Markets Act (February 18, 2022)

The Issue: The Government of Ontario published a draft Capital Markets Act to replace the Ontario Securities Act and modernize capital markets regulation. The draft functions as “platform legislation”, providing a framework where most operational requirements will be set out in the regulator’s rules.

Our View: Advocis believes that Ontario should introduce advisor incorporation, ensure independent contractors are protected from reprisals, include a more definitive list of unfair practices, and centre the focus on the advisor-client relationship throughout the CMA drafting process.

Joint Canadian Council of Insurance Regulators Consultation (CCIR) and Canadian Insurance Services Regulatory Organizations: Incentives Management Guidance (April 4, 2022)

The Issue: The Guidance aims to align incentive arrangements in insurance with the Fair Treatment of Customers Guidance.

Our View: The CCIR needs to be cognizant of the wide array of business models used to service consumers, the limited role of advisors in the design of incentive arrangements, the importance of ongoing service in insurance policies, the lack of a definition of “unfair outcomes”, and the need for more concrete examples of unacceptable incentive arrangements.

Joint Canadian Council of Insurance Regulators Consultation (CCIR) and Canadian Insurance Services Regulatory Organizations: Incentives Management Guidance (April 4, 2022)

(October 4, 2021)

The Issue: The Guidance aims to align incentive arrangements in insurance with the Fair Treatment of Customers Guidance.

Our View: The CCIR needs to be cognizant of the wide array of business models used to service consumers, the limited role of advisors in the design of incentive arrangements, the importance of ongoing service in insurance policies, the lack of a definition of “unfair outcomes”, and the need for more concrete examples of unacceptable incentive arrangements.

Canadian Securities Administrators (CSA) and CCIR: Total Cost Reporting for Investment Funds and Segregated Funds (July 27, 2022)

The Issue: The proposals aim to enhance and harmonize ongoing cost disclosure and product performance reporting for investment funds and segregated funds. Specifically, the proposals would require disclosure of ongoing embedded fees, such as management fund expense ratios and trading expense ratios.

Our View: We proposed simplified disclosure, argued that it is inappropriate to require dealers to independently verify the information provided to them by fund managers, and flagged uncertainty around the definition of “significant” costs in the segregated fund guidance.

14th Annual Regulatory Affairs Symposium

LRA delivers Symposium, an annual conference that provides a platform for financial advisors, industry experts, consumer advocates, regulators and politicians to debate and exchange perspectives on the key issues facing the sector.

After two years of hosting this event on a virtual platform, Advocis welcomed attendees in-person once again to its 14th edition on Tuesday, October 25 at the Ritz-Carlton Hotel in Toronto. Symposium 2022 featured two panels: one on securities regulation and another on insurance; various one-on-one fire-side chats discussing issues such as capital markets modernization, title protection, and technology and innovation.

Symposium 2022 also hosted special keynote speaker and football legend Michael ‘Pinball’ Clemons, and featured Ontario’s Minister of Finance, Peter Bethlenfalvy with Advocis Chair, Catherine Wood, in a one-on-one discussion.

With 300 registrations and a record high number of sponsorship dollars raised, Symposium was once again a tremendous success.

The Technology and Innovation Committee

LRA supports the Technology and Innovation Committee (TIC), a committee of technology-focused financial advisors who wish to share with their fellow Advocis members their enthusiasm and knowledge of technology and how it can integrate with and enhance advisors’ practices.

In 2022, the TIC became an official committee of the TFAAC Board. The TIC also welcomed three new members to the committee.

Throughout 2022, TIC members created valuable content for the association that demonstrated Advocis’ relevance in the fintech space. TIC members were featured in multiple webinars, podcasts and Chapter presentations, and one of TIC’s members authored an article for Advocis’ Financial Literacy Month campaign. The Chair of the TIC was also featured in the Symposium 2022 Technology and Innovation session.

The TIC continued to work on improving DigiCat 2.0 and preparing its next version. DigiCat is a catalogue of the key technological tools that TIC members find critical to their daily practices. DigiCat showcases “best in class” solutions in categories such as data security, client onboarding and client marketing. DigiCat 2.0 is an exclusive member benefit and available through the link on your dashboard.

More about the TIC is available at: www.advocis.ca/TIC

2022 SUBMISSIONS AND BULLETINS

SUBMISSIONS

FCNB Consultation on Insurance Intermediaries Licensing and Obligations

February 7, 2022

Ontario Ministry of Finance Capital Markets Act Consultation

February 18, 2022

CCIR/CISRO Incentive Management Guidance Consultation

April 4, 2022

FSRA Consultation on Proposed Principles-Based Regulation Guidance

April 29, 2022

FSRA Consultation on Proposed Principles of Conduct for Insurance Intermediaries

May 3, 2022

CSA Notice and Request for Comment 25-304 – Application for Recognition of New Self-Regulatory Organization

June 27, 2022

BULLETINS

Looking Ahead: Regulatory Change in 2022

January 2022

CSA Finalizes Approach to Outside Activity Reporting

February 2022

It’s the Credentials that Count!

April 2022

Segregated Funds Under the Microscope

May 2022

CSA/CCIR: Total Cost Reporting for Investment Funds and Segregated Funds

July 27, 2022

FCAA: Consultation, The Financial Planners and Financial Advisors Regulations

September 22, 2022

British Columbia Ministry of Finance – Consultation Regarding Restricting Insurance Licenses

October 3, 2022

CCIR/CISRO Discussion Paper on Upfront Compensation in Segregated Funds

November 7, 2022

CSA: Access-Based Model for Investment Fund Reporting Issuers

December 26, 2022

New Self-Regulatory Organization releases Interim Rules

August 2022

Total Cost Reporting – What you Need to Know

October 2022

Being Upfront About Commissions

November 2022

GOVERNMENT RELATIONS

As a member-driven organization, the Government Relations (GR) team works with Provincial Advocacy Committee (PAC) Chairs and the Advocacy Network to engage members on government advocacy initiatives. The Advocis GR team collaborates with politicians, staffers and other officials across the country towards the goal of improving the competitiveness of financial advisors and to ensure that the regulatory environment has the best interests of consumers at heart, while not hindering our members’ growth and prosperity.

Our ongoing grassroots approach to developing lasting relationships between members and elected officials is accomplished through the Advocacy Network and our PACs. The goals of both are the ongoing and timely delivery of:

• Coordinated advocacy support on a number of priority regulatory and policy issues

• Consistent positioning and messaging to elected and non-elected officials on their province’s specific issues

• An overall balanced lobbying effort driven by Advocis members and key GR and LRA staff

Returning to In-Person Political Outreach

In April 2022, we were able to host our first post-pandemic in-person Legislature Day in Saskatchewan. Members from across the province and staff met with members of the Saskatchewan Party’s Economic Committee and the NDP Caucus, where we had the opportunity to discuss the province’s title protection framework.

The meetings were followed by a reception in which over 30 MLAs, including the Attorney General and their staffers, were in attendance.

In preparation for Ontario’s June 2022 election, the GR team organized an Election Task Force to initiate a political outreach campaign. Between March and June, over 50 members of the Ontario Advocacy Network met with nearly 30 candidates from all parties recognized in the Legislature. The focus of these meetings was to establish, maintain and build on relationships and educate candidates on the important role that financial advisors play in securing the financial futures of their clients.

Following the Ontario election, Advocis’ AGC team and the Ontario PAC held an Ontario Queen’s Park Outreach Day on November 23 where members met with their local MPPs to discuss the strength of the small business sector and how members can support financial literacy initiatives in their ridings. Members and staff participated in over a dozen MPP meetings, including a meeting with the Liberal caucus.

Looking ahead, we plan to have a busy 2023 schedule with elections planned in Alberta, Prince Edward Island and Manitoba. Our members’ local voices will be critical to our success.

Strengthening Grassroots Advocacy: The Advocacy Network

Advocis’ Government Relations Committee (GRC) continued to have productive meetings throughout the year and carried on the implementation of the strategic advocacy plan adopted in 2020. The plan, which consists in the development of the wider Advocacy Network, was based on stronger synergy between PACs and Chapter Leadership; better equipping of our advocacy volunteers with the tools they need to succeed; and improving our networks’ organization by creating a simple database for all advocacy volunteers across the country.

The Advocacy Network is exclusive to Advocis members in good standing and is free of charge. As members of the network, several benefits include:

• Being connected with members from their area who share their passion for advocacy

• Invitations to participate in Legislature Days (which are exclusive to members of the Advocacy Network or PACs)

• Support from experienced Advocis GR staff to help maximize their advocacy potential

• Advocacy Updates from AGC staff

At the time of the launch in 2020, the Advocacy Network had over 100 members. By the end of 2022, the network had over 200 members.

MEMBER COMMITTEES

We are fortunate to have the input of knowledgeable and dedicated Advocis members that volunteer on our various committees. Committee members on the Legal/Regulatory Policy Committee and Investment Sub-committee assist AGC in developing our policy positions related to insurance and investment issues, respectively, by helping us understand the impact of law and regulation on an advisor’s practice.

The Government Relations Committee, our PACs and Advocacy Network volunteers help us develop lasting relationships with elected officials and their staff. The Technology and Innovation Committee helps shape the impact of fintech on the future of financial services and the advisor’s role in a digital world.

The graphic below illustrates how Advocis’ advocacy efforts were organized in 2022:

Legal & Regulatory Policy Committee

Government Relations Committee

Provincial Advocacy Committee Executives

British Columbia PAC Executive

Alberta PAC Executive

Investment Sub-committee

Saskatchewan PAC Executive

Manitoba PAC Executive

Ontario PAC Executive

Nova Scotia PAC Executive

Newfoundland & Labrador PAC Executive

New Brunswick PAC Executive

Technology and Innovation Committee

Prince Edward Island PAC Executive

LEARNING AND DEVELOPMENT

The mission of Learning and Development is to provide financial services practitioners with relevant quality education to better serve their clients. We do this through the delivery of our designation and certificate programs as well as advanced learning content through the continuing education platform.

2022 was a highly active period within the Learning and Development area, focused on infrastructure, program delivery and program development.

Infrastructure

Continuing education modules, designation and certificate education programs were centralized within our secure online education hub, the Advocis Learning Environment (ALE). The learner population size is significant within the ALE hub, with more than 8,000 users at the end of 2022.

A centralized infrastructure provided the opportunity to develop and increase learner engagement and retention and to support their professional development goals and pathways.

Delivery

Research indicated a significant growth in 2022 for online learning adoption within our industry, with more candidates looking for faster and more engaging courses delivered to provide more learning choices, faster time to program completion, lower cost and the ability to “fit” new ways of working into a modern work environment in the aftermath of COVID-19. As such, eLearning is working to redevelop key aspects of our learning management system to fully align with the needs of our clients.

A key improvement in 2022 focused on the integration of powerful new reporting and analytic tools to provide key insights on learner progress through Advocis education programs, and promoting improvements to engage learners in meaningful ways to successfully complete their courses. Work has also been undertaken to build out client-facing reporting, with the development of new data portals for delivery to all key corporate clients.

In 2022, Learning and Development undertook an in-depth review of how students who were registered in the Life Licensing Qualifying Program progressed through the course. This review identified key areas for improvement and resulted in the data-driven redesign of the online program where we addressed identified gaps (engagement, content depth/ structure, marketability) and emerging needs. Moving forward, this analysis will continue, helping to guide the design, delivery, and rollout of Advocis education programs.

Licensing and Credentials

Advocis offers a strong licensing and credentials platform providing curriculum programs for five designation programs, four certificate programs and a robust study support program as a Canada-wide approved course provider for the Life Licensing Qualification Program. From career entry to advanced financial planning and specialized practices, these diverse program offerings provide the knowledge, skills and practice behaviours necessary for financial advisors and planners to perform competently and ethically.

Life License Qualification Program (LLQP)

In 2022, the Advocis Life Licensing Qualification Program continued to show strong enrolment growth. Candidates who completed the Advocis LLQP, experienced high first-time pass rates on the provincial examinations, ranking 1st or 2nd across all national approved course providers. Additionally, Learning and Development implemented considerable changes to the Advocis Learning Environment (ALE) to improve engagement for self-study candidates.

Title Protection

The focus in 2022 for credential programs was on title protection with the Financial Services Regulatory Authority of Ontario (FSRAO). The Professional Financial Advisor (PFA®) and the Chartered Life Underwriter (CLU®) were recognized by the regulator as approved credentials for the purposes of title protection. The PFA was approved for the Financial Advisor title and the CLU was approved for the Financial Planner title.

Mandatory continuing education programs were also developed for existing PFA and CLU credential holders to level set the critical competencies of each credential. Consumers can be assured that all PFA and CLU credential holders meet the minimum criteria for either the Financial Advisor or Financial Planner titles.

New Credential Program Development: Life Insurance Professional Certificate (LIPC™)

In 2022, Advocis began the development of a new program to build upon the Life Licensing Qualification Program: The Life Insurance Professional Certificate (LIPC). Although the program is in its final stages of development, it is expected that holders of this certificate will be able to use the title Financial Advisor in Ontario.

Chartered Life Underwriter (CLU®)

In 2022, the CLU underwent a review of its curriculum program. As a result, plans were developed to refresh the Advanced Concepts in Tax and Law for Personal Planning course and the Tax & Legal Principles for Businesses and their Owners course. Work will be initiated in 2023.

The CLU final exams were held in May and November with a 75% and 91% pass rate respectively.

Developing resources for CLU study groups through Chapters was a top priority. Learning and Development produced facilitator guides and study tools to support the study groups. As a result, growth in offering Chapter CLU study groups has increased substantially in 2022, reflecting rising interest in the credential.

Professional Financial Advisor (PFA™)

In 2022, the PFA education program evolved the semester and self-study program into one format. This provided all candidates with access to live and recorded facilitation, outreach, and more flexible study schedules suited to the advisors building their practices.

The PFA was also reviewed, with a focus on candidate engagement within the program as well as successful study completion. In 2022, the review resulted in an initiative to improve the candidate experience and encouraging earlier, successful completion by streamlining the curriculum and highlighting essential vs. good-to-know content.

The majority of this significant effort was completed by the end of the year, with the expectation that the remaining content will be completed in 2023.

The PFA final comprehensive exams were held in May and November with a 83% and 82% pass rate, respectively.

Certified Health Insurance Specialist (CHS™)

As part of a multi-stage program update and redevelopment initiative, a key curriculum component of the CHS program, the Group Benefits Plan Management textbook, was prioritized for 2021 and published in 2022. This textbook edition contained content updates and introduced new content, as well as re-organized program material. New assessments are planned for 2023.

Curriculum redevelopment and updates to complete the rest of the CHS program will continue in 2023.

CONTINUING EDUCATION

Continuing Education (CE) is critical to licensed and credentialed financial services professionals. The mission of the Advocis CE program is to ensure that learning, education and/or training enhances the ability of financial advisors and planners to perform their jobs competently and ethically.

The Advocis Learning & Development team develops online, chapter and national events which are accredited for CE.

In 2022, CE programs were categorized based on practice competencies and behaviours, as well as career stage, area of interest and licensing & designation requirements. Programming focused on the delivery of advanced learning to promote sound financial planning, technical competency and ethical advice that protects the best interest of consumers throughout their life stages.

Advocis Chapter Programs

Throughout 2022, chapter program development continued to produce new relevant and topical content. Program delivery served flexible audiences whether in-person, virtual or a combination of both. A key development focus in 2022 was on chapter study groups to support the growing interest in the Advocis LLQP program and Institute credential education programs. New development included programs to target practice competencies and behaviours to support advisors at different career stages.

Advocis National Events

Recognized for its high-calibre agenda, the Advocis Annual Update 2022, Purposeful Planning, delivered leading-edge advanced learning for financial advisors and planners.

Delivered virtually and in-person, the flagship seminar program explored the theme that at a time of unimaginable uncertainty, the need for financial advice has never been greater.

Online Programs

2022 saw the development and delivery of 12 new online CE modules that provided a mix of videos, podcasts and webinars ranging from highly technical topics to risk management to practice matters and client care.

Exclusively For Advocis Members – Coffee Talks & Partner Programs

Coffee Talks

Advocis Coffee Talks is a series of monthly “espresso-sized” 30-minute webinars offering a mix of keynote industry speakers and panel discussions. Developed by Advocis for members during the pandemic, this very popular CE series continued its growth in 2022 to become waiting-room-only for many sessions.

Partner Programs

Partner Programs are a collection of selected education programs serving niche or speciality areas to provide unique value for professional development. Partner Programs recognize that when education providers work together, they are able to combine the best possible resources to enhance the education experience, opening doors to many new possibilities. This is an Advocis member-exclusive benefit.

Current Partner Programs:

• The Knowledge Bureau

• GAMA Global Canada

• Society of Trust and Estate Planners

• Canadian Institute of Certified Executor Advisors

• Canadian Securities Institute/Moody’s

• Canadian Association of Gift Planners

Taste of the Schools

Advocis Schools

For over 50 years, Advocis Schools have provided financial services professionals with premier learning and networking opportunities in some of the most beautiful locations in Canada. Each Advocis School is unique – from their line up of outstanding industry-leading guest speakers and the valuable networking opportunities alongside old and new peers alike, to the exciting evening social events capitalizing on what the picturesque surroundings have to offer.

Advocis Schools offer program that deliver the opportunity for financial services professionals to:

• Gain new business insights

• Engage in a community of like-minded professionals

• Share critical thoughts on the industry

• Strengthen individual practices

These programs historically have been in-person events with unique agendas of topics and key-note speakers. Post-pandemic, Advocis Schools began to return to in-person events in 2022.

Advocis Atlantic

Advocis Okanagan

Advocis Banff

AWARDS AND WINNERS

J. G. Taylor Award

Introduced in 2013, the J. G. Taylor Award was created in an effort to build a stronger sense of community among The Institute’s designation holders. Named in honour of the Education Chair who spearheaded the introduction of the CLU designation on behalf of the Association in 1924-25, the J.G. Taylor Award is awarded to Institute designation-holders in recognition of their outstanding work in the industry as well as in the community at large.

Al Jones, CFP, CLU, ICD.D and Christie Coltman, CFP, CLU, received the 2022 J.G. Taylor Award.

Full details regarding the J. G. Taylor Award and its recipients can be found at iafe.ca

Recognition of Longstanding CLUs

Since 1924, the CLU designation has been the premier wealth-transfer and estateplanning designation in Canada, and has played an important part in the history of the financial advisor profession in this country.

In 2022 The Institute recognized 187 individuals as Longstanding CLUs. Longstanding CLUs are honoured on The Institute website at iafe.ca

Outstanding Performance

In 2022, The Institute added a new award: The Institute Award for Outstanding PFA Examination Performance.

This award is given annually to the PFA graduate who achieves the highest examination grade in the PFA Program for the year in which it was awarded.

The John A. Tory Gold Medal for CLU Studies

The Tory Award was originally donated by James M. Tory, CLU, in memory of his father, the late John. A. Tory, CLU. The medal, first presented in 1952, is awarded annually to the CLU graduate who achieves the highest average for all course subjects without failing any of the CLU examinations.

The Leslie W. Dunstall Silver Medal for CLU Studies

The Dunstall Award is awarded to the candidate in each province who achieves the highest examination marks for all CLU course subjects. Leslie W. Dunstall, a past executive vice-president, was a member of the Advocis staff from 1919 to 1960.

The CHS Program Award

The Certified Health Insurance Specialist (CHS) Program Award is awarded annually to the CHS graduate who achieves the highest average for all course subjects without failing any of the CHS examinations.

2022

AWARD WINNERS

CLU Tory Award

– Rossellen Wiltse, CFP, CLU (Coldstream, BC)

CLU Dunstall Award

– Dianna Ryan, CFP, CLU (Calgary AB)

– Korey Jennings, CLU (Fredericton, NB)

– Ryan Leung, CFP, CLU (Richmond Hill, ON)

– Scott Schroeder, CFP, CLU (Saskatoon, SK)

CHS Award

– Sarah Jarjour, CHS (Calgary, AB)

PFA Award

– Mary Adams, PFA (Calgary, AB)

John A. Tory Award

Leslie W. Dunstall Award

The Institute CHS Award

CE Accreditation Services

In 2022, The Institute processed 2,544 applications and awarded 3469.25 CE credits. As predicted, The Institute noticed an increase in conferences held in person as COVID-19 restrictions were lifted. Many of these conferences were multi-day events, fostering a higher demand for Institute-accredited programs). A steady demand for virtual programs consistent with the expectations of providers remained as well. As a result, The Institute’s paid CE credit increased by 8.55% relative to 2021, which was higher than expected. The Institute was informed on numerous occasions that our services are efficient and reliable. Currently, it is difficult to estimate the impact of MFDA requests, as most of the relevant providers continue to submit to The Institute regardless. The Institute’s CE requests continue to grow steadily, and we foresee the same for 2023.

Five-Year Strategic Plan

The Institute continues to focus on its strategic plan (2017-2022). The plan places emphasis on increasing the number of Institute designation holders and positioning our designations as pathways to success, and will showcase the value of the CLU, CHS and PFA designations. Over the five years, The Institute will take special care to build a community amongst designation holders, bringing further value to Institute designation holders.

ADVOCIS BROKER SERVICES

Advocis Broker Services continues to serve the financial advisor and planner community with top tier insurance products at competitive prices. To better to serve our customers, our business has undertaken an extensive journey over the past 24 months to modernize and enhance our IT platform. The insurance world is changing rapidly, and we are excited to be launching new platforms and services to be a leader in our industry.

In 2021, we executed on key elements of this modernization strategy. We successfully transitioned to a new broker management system and integrated a new self-serve portal despite remaining in a virtual business model due to the global pandemic.

More specifically, enhancements launched this year included back-office systems based on cloud technology with enhanced security and tools which provided flexibility to allow our staff to work from anywhere for the sake of not only the challenges we face currently, but for the future needs of remote work as well.. We have also rolled out our new brokerage management system (Applied Systems EPIC) which provides a state-of-the-art platform for managing our entire brokerage operation, including new lines of insurance coverage such as our upcoming automated corporate and executive insurance products.

Our final system launched in 2021 brought a new online customer portal for new business and policy renewals. This was the first major enhancement to our customer policy experience in almost a decade, and the speed, user experience enhancements and flexibility of this new system was well worth the wait. Some of the key features of this new system include:

• A fully automated, end-to-end policy purchase and renewal process, allowing many of our customers to complete a purchase or renewal of their insurance online in less than 24 hours

• Ease-of-use and enhanced customer experience features

• A secure, cloud-based infrastructure capable of scaling to multiples of our existing portfolio without any service interruption or delay to our customers

• Enhanced business tools for corporate clients that allow our brokers to access the widest possible market to receive the best combination of price and coverage for unique individual customer needs

Through this transition we remained open and added staff to ensure we could help clients with their policies, bind insurance and report, manage, and have claims paid. Our technology journey has positioned us as the brokerage of the future for our clients.

ADVOCIS PROTECTIVE ASSOCIATION

The board of the Advocis Protective Association continues to oversee the further advancement and transformation of its E&O insurance program for individual advisors and planners.

This program continues to evolve to serve certificate holders with the best available protection. With oversight, the scope of coverage offered by the program will continue being calibrated to match the needs of the profession. The ongoing loss control/risk management seminars that are sponsored by APA and delivered by Advocis Broker Services are also positioning the financial results of the program to be successful.

The success of this program has been a testament to the regular monitoring of the program, which continue to be administered by a very dedicated leadership team.

MANAGEMENT DISCUSSION & ANALYSIS

The following is the management discussion and analysis of the financial condition and results for The Financial Advisors Association of Canada (TFAAC).

The audited consolidated financial statements of TFAAC show current year expenses exceeding revenues by $2.5M that includes $571K net unrealized losses on investments, $256K gain from Advocis Broker Services Inc. and total assets of $16M.

Advocis Broker Services Inc. (ABS), the wholly owned insurance brokerage arm of TFAAC, reported a gain from operations of $256K, a $431K year over year increase in net income compared to 2021. The significant capital investment made in 2021 paved the way for ABS to embark on growth opportunities that would not have been possible without an updated infrastructure.

As the dynamic of the pandemic changed in 2022, the Association shifted to the return of in-person events, programs and activities. Many of the 40 local chapters across Canada offered combinations of virtual, in-person and hybrid solutions for their high-quality educational programs and community events. The summer of 2022 also saw the return of both the Banff and the Atlantic schools.

Unfortunately, the shift in delivery methods impacted both revenue and costs of events. Costs for in-person events increased significantly compared to pre-pandemic levels. Most in-person events required a virtual component as many individuals and companies remained cautious to return to in-person events, adding additional costs. Revenues were often reduced as volumes of many in-person registrations were below expectations.

While Membership revenue increased slightly compared to 2021, a combination of natural attrition and industry demographic shifts along with rising inflation, left growing membership challenging. Growing membership remains a top priority as the Association seeks new and innovative ways to engage advisors of today and tomorrow.

The demand for education programs declined during the year as Advisors adapted to the changing dynamics of the pandemic. Rising costs also impacted Advocis’ designation programs as well as continued requirements for maintenance and updates to programs including additional costs incurred as a credentialling body for Ontario.

Operating expenses were up 12% compared to 2021. Increased travel costs were a primary contributor to the year-over-year costs as in-person events returned, including the annual Chapter Leadership Conference. By mid-year, a hybrid work environment was implemented for staff, supporting the Association both in the office and remotely. Other contributing factors included additional staffing for the member services department, additional marketing and communications and additional consulting costs to support the Digital Transformation roadmap.

No doubt, the impact of the world opening after the pandemic impacted TFAAC significantly. The Association cannot continue with expenses exceeding revenues and Management has committed to significant changes in 2023 to ensure that TFAAC continues to provide quality education, community and support to members and the industry for many years to come.

Summary Consolidated Financial Statements

The Financial Advisors Association of Canada

December 31, 2022

The Financial Advisors Association of Canada

Independent Auditor’s Report

To the Members of The Financial Advisors Association of Canada

Opinion

The summary consolidated financial statements, which comprise the summary consolidated statement of financial position as at December 31, 2022, the summary consolidated statements of revenue and expenses, changes in fund balances and cash flows for the year then ended, and related notes, are derived from the audited consolidated financial statements of The Financial Advisors Association of Canada for the year ended December 31, 2022

In our opinion, the accompanying summary consolidated financial statements are a fair summary of the consolidated financial statements, in accordance with the criteria described in Note 1

Summary Consolidated Financial Statements

The summary consolidated financial statements do not contain all the disclosure required by Canadian accounting standards for not-for-profit organizations. Reading the summary consolidated financial statements and the auditor’s report thereon, therefore, is not a substitute for reading The Financial Advisors Association of Canada’s audited consolidated financial statements and the auditor’s report thereon. The summary consolidated financial statements and the audited consolidated financial statements do not reflect the effects of events that occurred subsequent to the date of our report on the audited consolidated financial statements

The Audited Consolidated Financial Statements and Our Report Thereon

We expressed an unmodified audit opinion on the consolidated financial statement of The Financial Advisors Association of Canada in our report dated May 26, 2023

Management’s Responsibility for the Summary Consolidated Financial Statements Management is responsible for the preparation of the summary consolidated financial statements in accordance with the basis described in Note 1.

Auditor’s responsibility

Our responsibility is to express an opinion on whether the summary consolidated financial statements are a fair summary of the audited consolidated financial statements based on our procedures, which were conducted in accordance with Canadian Auditing Standard (CAS) 810, “Engagements to Report on Summary Financial Statements”.

The Financial Advisors Association of Canada Summary Consolidated Statement of Financial Position

See accompanying notes to the summary consolidated financial statements. 2

The Financial Advisors Association of Canada Summary Consolidated Statement of Revenue and Expenses

See accompanying notes to the summary consolidated financial statements.

The Financial Advisors Association of Canada

Summary Consolidated Statement of Changes in Fund Balances

The Financial Advisors Association of Canada Summary Consolidated Statement of Financial Position

See accompanying notes to the summary consolidated financial statements.

See accompanying notes to the summary consolidated financial statements.

The Financial Advisors Association of Canada Summary Consolidated Statement of Cash Flows

The Financial Advisors Association of Canada Summary Consolidated Statement of Financial Position

See accompanying notes to the summary consolidated financial statements.

See accompanying notes to the summary consolidated financial statements.

The Financial Advisors Association of Canada Notes to Summary Consolidated Financial Statements

(in thousands of dollars)

December 31, 2022

1. Basis of Presentation

These summary consolidated financial statements include the accounts of TFAAC and its 100% owned subsidiaries: Advocis Protective Association, The Institute (also known as The Institute of Chartered Life Underwriters of Canada) and GAMA International Canada. Advocis Broker Services Inc. (ABS), a wholly-owned for-profit subsidiary, is accounted for using the equity method whereby the initial investment is recorded at cost and subsequently adjusted to reflect TFAAC’s pro-rata share of post-acquisition earnings and capital transactions of ABS.

The summary consolidated financial statements are derived from the audited consolidated financial statements, prepared in accordance with the Canadian accounting standards for not-for-profit organizations.

The preparation of these summary consolidated financial statements requires management to determine the information that needs to be included so that they are consistent in all material respects with, or represent a fair summary, of the audited consolidated financial statements.

Management prepared these summary consolidated financial statements using the following criteria:

a) The summary consolidated financial statements include a statement for each statement included in the audited consolidated financial statements;

b) Information in the summary consolidated financial statements agrees with the related information in the audited consolidated financial statements;

c) Major subtotals, totals and comparative information from the audited consolidated financial statements are included; and

d) The summary consolidated financial statements contain the information from the audited consolidated financial statements dealing with matters having a pervasive or otherwise significant effect on the summary consolidated financial statements.

A copy of the audited consolidated financial statements is available to all members on the member portal.

2. Capital Management

TFAAC’s capital comprises restricted and unrestricted fund balances.

Management develops an annual budget which is submitted to the Finance and Audit Committee (the “Committee”). The budget is developed to ensure adequate cash flows for operations and identified capital needs. A recommendation is made from the Committee to the Board of Directors (the “Board”) for approval of the budget. The 2022 budget was completed and approved by the TFAAC Board.

Management compares actual results to the budget monthly and reports these results to the Committee for review.

TFAAC’s operations are reliant on revenue generated annually from its membership fees, professional development course fees, continuing education and programs. These funds are used for general operations, advocacy and educational courses and programs that advance the professionalism of financial practitioners.

The Financial Advisors Association of Canada Notes to Summary Consolidated Financial Statements

(in thousands of dollars)

December 31, 2022

2. Capital Management (continued)

The financial results of 2022 have put a strain on the financial resources and liquidity of TFAAC. Subsequent to year end, management has taken the following steps to improve the cash position of the organization and to reduce operating costs to ensure financial stability:

• arranged a loan of $610,000 against the cash surrender value of the life insurance policies held;

• increased their line of credit to $500,000;

• received support from the Century Initiative Fund including a line of credit totaling $1,700,000; and

• is in the process of completing a restructuring plan with a view to significantly reduce operating expenses and provide a sound financial base for the organization moving forward.

Based on the above, Management is of the opinion that TFAAC has taken the appropriate steps to ensure its financial stability and sustainability.

CENTURY INITIATIVE

Introduced in 2006, the Century Initiative (CI) program ensures Advocis has a strong financial foundation and adequate resources to effectively represent the interests of financial advisors and planners in the face of threats

To participate, CI members commit to an additional five-year membership, over and above their Advocis membership fees. Fees from this premium membership are used to ensure the Association is well-capitalized now - and in the future - through a fund governed by a board of stewards. Over the past 5 years, the CI Fund has committed over $1.5 million to critical Advocis initiatives – initiatives that would not have been possible without their support. This level of significant support has continued into 2023.

2022 Results

2022 investment performance results achieved by the Fund’s investment advisor – Connor Clark & Lunn – were in line with established benchmarks and considered ‘satisfactory’ with a 3-year compound return of 7%.

As a December 31, 2022, the balance of the fund stood at $5.5 million.

Advocis would like to express its gratitude to the CI Stewards and CI members for their ongoing support of the organization and its entire membership.

CENTURY INITIATIVE MEMBERS

EFFECTIVE DECEMBER 31, 2021

Gold Members

Bradford D. Cox, CLU, CH.F.C.

Donald C S Rea, CFP, CLU, CH.F.C.

Fred C. Ryall, CHS

Bruce Jeffery Hancock, CFP, CLU, CH.F.C., CHS

Brian P. Etherington, CLU

Robert E. Bauml, CFP, CLU

Paul K. R. Marchand

Susan M. Creasy, CLU

Tim M. Haunn, PFA, CEA

Jack A. F. McAuley, CFP, CLU, CH.F.C.

Paul J. Edmond, CFP

John A. Gleeson, CLU

Leslie J. Canavan (he/him), CLU, CHS, CPCA, MFA-P

Robert J. A. Wildman, CFP, CLU, CH.F.C.

W. Bo Chew, CFP, CLU, CH.F.C.

Brent A. Johnson, CFP, EPC, CHS

Grant C. Karst, CFP, CLU, CH.F.C.

John A. Bowden, CFP, CLU, CH.F.C.

Gary A. Rusu, CLU

Kelvin A. McGillivray, CFP, CLU, CH.F.C.

Danielle J. Genier, CFP, CLU

Patrick B. Murphy, CFP, CLU

Kerry T. Knudsen, CFP

Gwen M. Harvey, CFP, CLU, CH.F.C.

Mr. Wayne Townsend, CFP, CLU, CH.F.C.

Tom I. Sorge, CFP, CLU, CH.F.C., TEP

John J. Dean, CFP, CLU, CH.F.C.

David Stewart, TEP

Kevin R. Williams, CFP, CLU, RHU

Leonard W. Colman, CFP, CLU

Stephen Healy, Sr.

Glenn Ayrton, CFP, CLU, CH.F.C.

Deneen A. Cunningham, CFP, CLU, CH.F.C., CHS

Betty-Anne M. Howard, CFP, CLU, CHS, CEA

John S. Hedden

Robert C. McNary, CFP, CLU, CH.F.C., CHS

Edmund H. Warburton, CLU, TEP

W. Brian Callery, CFP, CLU, CH.F.C.

Robert G. Houle, CFP, CLU, CH.F.C.

Allan H. Minaker, CFP, CLU, CH.F.C.

David McGruer, CFP®, PFA

Ray A. Calver, CFP

Jeffrey L. Appotive, CFP, CLU, CH.F.C.

Brian A. McMillan, CFP, CLU, CH.F.C., EPC

Gerard E. Matte, CFP, CLU, CH.F.C.

Allan M. Bulloch

Murray D. Neilson, CLU, CH.F.C.

Lee Mosley, CLU

Kent D. Smith, CLU

Alison A. Jenner, CFP, CLU, CH.F.C.

Mr. Pierre Baliki, CFP, CLU, CH.F.C.

Mr. Eric Barclay

Michael F. Noc, CFP, CIM, CLU, CHFC

Roger E. Sinclair, CFP

Rick L. Green, CFP, CLU, CH.F.C.

Brian L. Leipert, CFP, CLU, CH.F.C.

Timothy C. Mitchell, CLU, CH.F.C.

Mr. Pierre Desjardins, AVA

Jerome L. Gedir, CLU

Marc W. B. Arthrell, CFP, CLU, CH.F.C., CHS

David N. Chalmers, CFP, CLU, CH.F.C.

Keith J. Muchan, CLU

Roger N. Belton

Peter D. Jobe, CFP, CLU, CH.F.C.

Mr. Derrick J. Peterson

David T. Fredrickson, CFP, CLU, CHS

Paul R. Bourbonniere, CFP, CLU, CH.F.C., CHS

Daryl J. Smith, CFP, CLU, CH.F.C.

Brent C. Peacock, CHS

Greg Pallone

Edward L. Postrozny, CFP, CLU, CH.F.C.

Allain R Labelle, CFP, CLU, CHS, TEP

Paul Goldstein, CLU, CH.F.C.

Dennis F. Caponi, Sr., CFP, CLU, CH.F.C.

Robert J. Crowder, CLU

Kirk R. Wrinn, CFP

Jaymie A. Bongard

Laura L. Doria

Jonathan K. Luesby, CFP, CIM, FCSI

Gordon Einar Bruce Hayward, CHS, EPC, CEA

Ross M. Durant, CLU, CH.F.C.

Robert M. Dempster, CLU, CFP

Scott D. C. Harris, CFP, CLU, CPCA, EPC

Caron Czorny, CLU, CH.F.C, CHS

Dean E. Owen, CLU, CH.F.C.

Jeffrey M. Kechnie

Denis P. Bugeja

Paul E. Brown, CLU, CH.F.C.

Clifford A. Wiegers, CFP, CLU, CH.F.C.

Neil Feigelsohn

Jennifer A. Tweddle, CFP, CLU, CHS, TEP

Meiz M. Majdoub, CLU, CH.F.C.

Robert Craig, CLU, CH.F.C.

Peter M. Seligman

Raymond Bourgeois, CFP, CLU, CH.F.C., CHS

Cynthia L. Bowden, CLU, CH.F.C.

Ms. Mari-Jayne Woodyatt, CLU, CH.F.C.

Lorraine S. Lavery, CLU, CH.F.C., CEB, TEP

Edward W. Polci, CLU

Abe E. Toews, CFP, CLU, CH.F.C., CHS

Robert J. Cowan, CFP, CLU, CH.F.C.

John C. Guderyan, CFP, CLU

William F. Moroney

Sandra S. Pollack, CFP, CLU, CH.F.C., TEP

Paul Metcalfe, CLU

W. Tod Alstad, CHS

Arthur A. Schooley, CFP

Michael J. Couture, CLU, CH.F.C., TEP

Angela M. Houle, CFP, CLU, CHS

Robert L. Rizzuto, CFP, CLU, CH.F.C.

Frank R. A. Ciccolini

Kelly R. Smith, CFP, CLU, CH.F.C.

Al A. Jones, CFP, CLU

Ian M. Johnson, CFP, CLU

Wade A. Baldwin, CFP

Gregory F. Glista

Judy M. Byle-Jones, CFP, CLU, CH.F.C.

Catherine Stovel, EPC, CEA

Michael P. McClenahan, REBC, GBA

Scott L. Segger, CLU, CH.F.C.

Ken D. Crosson, CFP

Robert W. Franklin, CFP, CLU, CH.F.C.

Mr. Vikram Jindal

Jane L. Trentini, CFP, CLU

Patrick S. O’Connor, CFP, CLU, CH.F.C, FEA

Michael F. Cecutti, CFP, EPC

Pam C. Lavers, CFP

Gerard A. Arsenault, CFP, CLU, CH.F.C.

Gerry H. Myers, CLU, CH.F.C.

Bruce Lindsay, CFP, CLU, CH.F.C.

Philip H. Tippetts-Aylmer, CFP

William D. Hawley, CLU, CHS

David C. Juvet, CFP, CLU, CH.F.C., CHS

Robert J. Neil, CLU

Mimi (Micheline) A. Rogers, CFP

Lawrence I. Geller, CLU

Gordon P. Kroeker, CFP, CLU, CH.F.C.

Keith N. Brown, CFP, CLU, CH.F.C.

David M. Stinton, CFP, CLU, CH.F.C.

Sterling Rempel, CFP, CLU, CH.F.C.

Philip Howe, CLU, CH.F.C.

Timothy A. Jones, CHS, EPC

Timothy B. Potter, CLU, CHS

Ronald C. Sylvester

Aurora L. Tancock, CFP

Vincent S. Wiegers, CFP, CLU, CH.F.C.

Peter J. Buckley, CFP, CLU, CH.F.C., RHU

Michele Wilson, CFP, CLU, CH.F.C.

Paul J. Hauk, CHS

Jocelyne Blais, CLU

Philip J. Belec

Rene Robert Pereux, CFP, CLU, CH.F.C.

Lynn B. Wintraub, CFP

Richard R. Dobel, CLU

Michael A. Gaian

Mr. Russell Gillman, CFP, CLU, CH.F.C.

Mark A. Woofter, CFP, CLU, CH.F.C.

Peter R. Bennett, CLU, CFP, CH.F.C.

David J. Reckin, CFP, CLU, CH.F.C.

Derrick W. Gleed, CHS

Edward T. McQuillan, CFP, CLU, CHS

Rodney P. Kurylo, CFP, CLU

David R. Temple, CLU

Michael Edward Carey, CFP, CLU

Jonathan W. Lewis

Michael A. Davis, CFP, CLU, CHS

Mr. Robert D. Healy, CHS

Mr. Douglas G. Lochhead, CFP

Warren Campbell, CLU

Mark J. Levine, MMPA, CPA, CA

Mark R. Landers, CFP, CHS

Philippe Desjardins

Double Gold Members

Edward A. K. Kurtz

Lorna J. Heiberg, CLU, CH.F.C.

Mr. Darrell R Wilson, CLU

Robert M. McEachern, CLU, CH.F.C.

William J. Dyer, CFP, CLU, CH.F.C.

Jay S. Wintraub, CLU, CH.F.C.

Robert G. Kearns

Noah G. Jones, CFP, CLU

Platinum Members

Mr. Zoltan Barzso

Mary Lambros, EPC, CDFA

Duane D. Gibb, CFP

Joseph M. Pal, CFP, CLU, CH.F.C. Libby A. Wildman, CLU

David N. Beavis

Rich T. Groom, RHU

Floyd M. Murphy, CFP, CLU, CH.F.C.

Karl J. Krokosinski

T. Alec Crossgrove, CFP, CLU, CH.F.C., CHS

Edward J. Topolniski

Mr. Garry M. Zlotnik, CFP, CLU, CH.F.C.

Hal D. Couillard, CFP, CLU, CH.F.C.

Julian N. Wise, TEP

Teresa R. Black Hughes, CFP, R.F.P., CLU, CI

Brian A. Henley, CFP, CLU, CH.F.C.

Peter Anthony Wouters, CFP, CLU, CH.F.C., CHS,

Albert Rempel, CFP

Robert W. Owens, CFP, CLU, CH.F.C.

David Lester

John M. Nicola, CFP

Clay E. Gillespie, CFP, CLU, CIM

Roderick W. Abbott, CFP, CLU, CH.F.C.

Wayne H. Levine

Robert W. Adams, CLU

Richard S. McCaw, CFP, CLU, CH.F.C.

Richard M. Cremasco, CLU, CH.F.C., CFP

Joel H. Rose, CLU, CFP

John C. Goode

Dennis J. Hop, CFP, CLU, CH.F.C.

David I. Hull, CLU, CH.F.C.

George B. Sigurdson, CLU

Mr. Graham M Carter, CLU

Diane L. McCurdy, CFP

Dale A. Ens, CFP, CLU, CH.F.C., CHS

Randall B. Reynolds, CFP, CLU, CH.F.C.

Gregory D. Abbott, CFP, CLU, CH.F.C.

Brian N. Mallard, CLU, CH.F.C., R.F.P.

Michael P. Dibrina

Jon S. Hanser, CLU

Richard E. McKenster, CFP, CLU, CH.F.C., CHS,

Randolph B. McGlynn

James A. Brownrigg, CFP, CLU, CFC

Gregory A. Smyth, CLU, CH.F.C.

Frank A. Creaghan, CLU

Terry G. Windrem

David W. MacFadyen, CFP, CLU, CH.F.C.

Mr. Paul Tompkins, CLU

Bernhard W. Geiss, CFP, CLU, CHS, TEP, FEA

Salvatore N. Corea, CFP

Mr. Raymond Di Rinaldo, CFP, CLU, CH.F.C.

John T. Firstbrook

Gordon D. Wusyk, CFP, CLU, CH.F.C.

Robert S. Fleischacker, CFP, CLU, CH.F.C., CHS

Robert R. J. Gould

Robert A. McCullagh, CFP, CLU, CH.F.C., CHS

Roger McMillan, BA, CLU, CH.F.C.

Richard K. Giuliani, CLU, CH.F.C.

Peter G. Lamb, CLU, TEP, EPC, CSA

Kristan K. Birchard, CLU, CH.F.C.

Ms. Susan St. Amand, CFP, CLU, CH.F.C., TEP

T. Geoffrey Hull, CLU

Izumi Miki McGruer, CFP, CLU, CH.F.C., CHS

Mr. Thomas I. Hull, CLU

Simon Hiebert, CLU

Gary H. Clark, CLU

Eric D. Lidemark, CFP, CLU, CH.F.C., CHS

Brian B. McArthur, CFP, CLU, CH.F.C.

Kevin J. Dunphy, CFP, CLU, CEA

Donald L. Smith, CLU, FEA, TEP

David N. Udy, CFP

Robert W. Clark, CFP, CLU, CH.F.C.

Darrell G. Ert, B Comm, CLU, FEA

Christopher H. W. Facey, CFP, CLU, CH.F.C.

Jeffrey J. Kraemer, CFP, CLU, CH.F.C., TEP

Mr. Jeffrey Shaddick

Peter F. Creaghan, CLU

Joseph Sheehan, CLU, CH.F.C.

David A. Holm, CFP, CLU, CH.F.C.

Jack J. Shaffer, CLU, CH.F.C.

David A. Holm, CFP, CLU, CH.F.C.

Mr. Robert J. Taylor, CFP, CLU, CH.F.C.

Martin J. McConnell, CFP, CLU, CH.F.C.

Michael G. Sheffar, CFP, CLU, CH.F.C.

Robert P. MacKenzie, CFP

Keith D. Newhook

Warren A. Smith, CFP

Adam Shapiro, CFP, CLU

Garry M. Stratychuk

Gregory A. Smyth, CLU, CH.F.C.

Dale A. Ens, CFP, CLU

Michael P. Dibrina

Randall B. Reynolds, CFP, CLU, CH.F.C.

Randolph B. McGlynn, CLU

Mr. Paul Tompkins, CLU

Raymond Bourgeois, CFP, CLU, CH.F.C., CHS

Frank A. Creaghan, CLU

John E. McKay

James A. Brownrigg, CFP, CLU, CH.F.C.

Salvatore N. Corea, CFP

Robert R. J. Gould

Gordon D. Wusyk, CFP, CLU, CH.F.C.

Roger McMillan, BA, CLU, CH.F.C.

Richard K. Giuliani, CLU, CH.F.C.

Peter G. Lamb, CLU, TEP, EPC, CSA

James Virtue, CFP, CLU, CA

Kristan K. Birchard, CLU, CH.F.C.,TEP

Robert A. McCullagh, CFP, CLU, CH.F.C., CHS

Mr. Raymond Di Rinaldo, CFP, CLU, CH.F.C.

Bernhard W. Geiss, CFP, CLU, CHS, TEP, FEA

Ms. Susan St. Amand, CFP, CLU, CH.F.C., TEP

John T. Firstbrook

Robert S. Fleischacker, CFP, CLU, CH.F.C., CHS

Gary H. Clark, CLU

Izumi Miki, CFP, CLU, CH.F.C., CHS

Peter J. Sorrell, CFP, CLU, CH.F.C.

T. Geoffrey Hull

Mr. Thomas I. Hull, CLU

Thomas P. McQuillan, CFP, CLU, CHS

Jeffrey J. Kraemer, CFP, CLU, CH.F.C.

Dan L. Schindle

Eric D. Lidemark, CFP, CLU, CH.F.C., CHS

Robert W. Clark, CFP, CLU, CH.F.C.

Donald H. Johnson, CLU, CH.F.C., CFP

Darrell G. Ert, B Comm, CLU, FEA

Christopher H. W. Facey, CFP, CLU, CH.F.C.

Peter F. Creaghan, CLU

Brian B. McArthur, CFP, CLU, CH.F.C.

Mr. Jeffrey Shaddick

Kevin J. Dunphy, CFP, CLU

Simon Hiebert, CLU

Joseph Sheehan, CLU, CH.F.C.

Donald L. Smith, CLU, FEA, TEP

David N. Udy, CFP

Martin J. McConnell, CFP, CLU, CH.F.C.

Keith D. Newhook

Michael G. Sheffar, CFP, CLU, CH.F.C.

Jack J. Shaffer, CLU, CH.F.C.

David A. Holm, CFP, CLU, CH.F.C.

Mr. Robert J. Taylor, CFP, CLU, CH.F.C.

Warren A. Smith, CFP

Adam Shapiro, CFP, CLU

Garry M. Stratychuk

Double Platinum Members

John J. Talerico, CFP, CLU, CH.F.C.

David R. Sagan, CFP, CLU, CH.F.C.

Mr. Michael Vukets

Lee Raine, CFP, CLU, CH.F.C.

Bruce W. Etherington, CFP, CLU, CH.F.C.

James A. Burton

Rod M. Tyler, CFP, CLU, R.F.P.

Elliott B. Levine, CFP

Terry G. Zive, CLU, CH.F.C., CHS

John E. McKay

James Virtue, CFP, CLU, CA, ICD.D

Brian J. Dickinson

Peter J. Sorrell, CFP,

2022/2023 TFAAC BOARD/SUBSIDIARY BOARDS/ BUSINESS UNITS, NATIONAL COMMITTEE - CHAIRS

AND MEMBERS

TFAAC Board of Directors

EFFECTIVE JUNE 29, 2022 - FINAL

Past Chair Rob Eby, CFP, RRC

Chair

Catherine Wood, CFP, CLU, CHS

Vice Chair Eric Lidemark, CFP, CLU, CH.F.C., CHS

Treasurer

Secretary

Chair, Institute

Chair, CLC

Director at Large

Director at Large

Director at Large

Stephen MacEachern, CFP, CLU, CH.F.C., CHS

John Hamilton CLU, FEA

Ejaz Nadeem, CFP, CLU

Will Britton, CFP

Wendy Playfair, CFP, CLU, CHS

Arun Channan, MASc, MBA, CSP, CFP

Kelly Gustafson

Public Director Sara Gelgor

Public Director

Jimmy Mui

The Institute Board of Trustees

Past Chair John W. Hamilton, CLU, FEA, CPCA

Chair

Secretary

Treasurer

Ejaz Nadeem, CFP, CLU

Izumi Miki McGruer, CFP, CLU, CH.F.C.

Sara La Gamba, CFP, CLU, CHS, TEP, EPC

Maria Carrick CLU, CHS

Chris George, CFP, CLU, CHS, TEP

Barbara Leighton, BA, LLB

Scott MacPherson

Shannon Tatlock, CFP, CLU

APA Board

Chair

Roger McMillan, CFP, CLU, CH.F.C.

Vince McKay

Edward McQuillan, CFP, CLU

Geoffrey Hull

Chapter Leadership Council

Chair

Will Britton, CFP

Winnipeg, MB

Toronto, ON

Vancouver, BC

Halifax, NS

Burlington, ON

Hamilton, ON

Kingston, ON

Ancaster, ON

Richmond Hill, ON

Calgary, AB

Toronto, ON

Ottawa, ON

Burlington, ON

Hamilton, ON

Vancouver, BC

Toronto, ON

Vancouver, BC

Surrey, BC

Bedford, NS

Winnipeg, MB

Moncton, NB

Halton Hills

Surrey

Toronto

Toronto

Kingston

Vancouver Leader, British Columbia

Vice Chair and Regional Leslie Carpenter, CFP , CLU, CIM

Chair, Program

Vince McKay, QAFP, EPC, CPCA

Chair, Membership Abhishek Sharma, CLU, CFP, CHS

Regional Leader, Chris Hudson CLU, CFP, CHS

Ontario Central

Chair, Financial Ali Pahlavani, CLU, CFP, CHS

Stewardship

Regional Leader, Eric Barton, CFP, EPC

Ontario North-East

Regional Leader, Debra Schreiber, CLU, QAFP

Ontario South-West

Regional Leader, Prairies

Melissa Harrell, QAFP, CHS

Regional Leader, Atlantic David Campbell

Regional Leader, Alberta Patrick Souliere, CFP, CLU, CH.F.C.

Surrey

Mississauga

Bowmanville

Ottawa

Sault Ste. Marie

Hamilton

Winnipeg

St. Johns

Edmonton

GAMA International Canada

Past President Ted Girard, CFP, CHS, CLU

President Jonathan Schjott, CFP, CLU, CHS

First Vice President Jason McMahon, CFP, CHS

Secretary/Treasurer Chris Patterson

Marketing & Comms. Randy Little, CFP

Professional Development Donna Star, FCIP, CRM

Member at Large Phil Ackers, CPA

Member at Large Philippe Slominski

Member at Large Philippe Soulodre

Member at Large Jaclyn Nemethy

Member at Large Brent Swatuk

Member at Large Sonia Wu

Member at Large Stacey Brooks

Government Relations Committee

Chair

Kris Birchard CLU, CH.F.C. TEP

Vice-Chair Mike Skube

Cecelia Clarke

Curtis Kimpton, CFP, CLU

David Webb, CFP

Jonathan Dixon

Kevin Williams, CFP, CLU, RHU

Legal, Regulatory & Policy Committee

Chair

Robert McCullagh, CFP, CLU, CH.F.C. CHS

Donald M. Plettell, CLU

John Dean, CFP, CLU, CH.F.C.

North York

Toronto

Ottawa

Toronto

Ottawa

Guelph

Waterloo

Montreal

Toronto

Toronto

Toronto

Vancouver

Toronto

Ottawa, ON

Thunder Bay, ON

Edmonton, AB

Saskatoon, SK

Victoria, BC

Winnipeg, MB

Moncton, NB

Calgary, AB

Lethbridge, AB

Regina, SK

Schools Committee

Atlantic Chair

Kris Birchard, CFP, CLU, CH.F.C.

Ottawa, ON Margaret M. Hennebury, CFP

Mildred Davis, CFP, CLU, CHS, TEP

Pickering, ON

Toronto, ON

Sara La Gamba, CFP, CLU, CHS, TEP, EPC

Warren D. Blatt, CLU, CHS, QAFP

Chair Robert Caissie, CFP

Shayne Connolly, CHS

Banff Chair James Savage

Okanagan Chair

Tod Alstad, CHS

Calgary, AB

London, ON Wade Baldwin, CFP

Toronto, ON

Dartmouth, NS

Charlottetown, PE

Calgary, AB

Kelowna, BC

Advocis Broker Services (ABS)

Chair To be determined

Roger McMillan BA, CLU, CHF.C. Toronto, ON

Greg Pollock CFP

Toronto, ON

Randolph McGlynn BBA, CLU, IC.D Waterloo, ON

Technology and Innovation Committee (TIC)

Chair

Vice-Chair

Herman Chan, CFP, CHS

Richmond Hill, ON

Brandon Chapman, CFP, CLU V ancouver, BC

Kelly Gustafson

Charlie Conron

Darren Ryan

Prem Binning

Raymond Adamson

Calgary, AB

London, ON

St. John’s, NL

Surrey, BC

Toronto, ON

Samuel Waxman, CFP, CLU, CHS Toronto, ON

Tarsem Basraon

Zainab Williams

Jimmy Mui

Toronto, ON

Caledon, ON

Ottawa, ON

Together, we’re making a difference. We’re proud to have you in our corner.

CORPORATE PARTNERS

CORPORATE SPONSORS

We couldn’t do all we do for financial advisors in the best interests of their clients without you.

Your investment in Advocis helps us build a strong community of professional financial advisors across Canada … helps us make sure advisors get the continuing education they need to succeed … helps us make sure Canadians have trusted-expert advice to help them make the best decisions for their financial interests … helps shape the future of our industry.

A Big “Thank-You” to all our 2022 corporate partners and sponsors.

For information on the Corporate Partnership Program or to become a corporate partner or sponsor, please contact Sheila Godse at sgodse@advocis.ca

CONTACT US

Executive Management

Greg Pollock, M.Ed., LL.M., C.Dir., CFP President and Chief Executive Officer, Advocis Chief Operating Officer, The Institute for Advanced Financial Education x 9811

Linda Illidge, CPA, CMA Vice President, Operations x 9834

Barbara Riddell, Vice-President, Learning and Development x 9831

Julie Martini, Vice-President, Strategic Engagement x 9864

Jack Mazakian, Vice-President, Advocis Broker Services Inc. x 9833

10 Lower Spadina Ave, Suite 600 Toronto, ON M5V 2Z2 Telephone: 416-444-5251; 1-877-773-6765

advocis.ca

To reach any Advocis staff member by email, use their first initial and last name with @advocis.ca. For example, “John Smith” would be jsmith@advocis.ca

STRONGER BETTER