GOVERNMENT RELATIONS & ADVOCACY UPDATE

The Government of New Brunswick Becomes Latest to Pass Title Protection Legislation

Marking the latest development in the sweeping movement across the country to create better regulations for consumers, on June 16, the government of New Brunswick received royal assent on Bill 29, the Financial Advisors and Financial Planners Title Protection Act. This makes New Brunswick the third province in Canada to pass legislation protecting the Financial Advisor (FA) and Financial Planner (FP) titles, after Ontario and Saskatchewan.

The Act establishes minimum standards to utilize the FA and FP titles, ensuring that only qualified individuals with appropriate credentials are entrusted with the financial well-being of New Brunswickers. The legislation empowers the province’s regulatory body — the Financial and Consumer Services Commission of New Brunswick (FCNB) — to establish a baseline competency profile for FA and FP titles. This would guarantee that competencies behind these titles reflect education and knowledge received from approved credentialling bodies (CBs).

The FCNB will be developing the title protection regulatory framework, using the feedback they received from their initial public consultation in 2021. Advocis is committed to continuing its work with the FCNB and the government of New Brunswick, as well as other provinces that have yet to introduce similar title protection legislation.

FOOD (AND WINE!) FOR THOUGHT

Advocis Greater Niagara has been hosting its Eat, Drink, and Be Educated series across Niagara region wineries, providing opportunities for local members to reconnect for both learning and chapter fellowship. The April session at Calamus Winery featured three dynamic presentations with updates on hot industry topics such as wealth transition, the disability tax credit, and decision-making capacity, along with a gourmet lunch and wine tasting. Presenters included Richard Poulin, BMO Global Asset Management, and Christine Brunsden, Benefits2 & Trusted Legacy Consulting (TLC) Corporation, as well as a joint session with Nathan Spaling, Capacity Clinic Ltd., and Dr. Richard Shulman, Capacity Clinic Ltd. A member-exclusive June social at 180 Estate Winery offered a bonus opportunity for Mutual Fund Dealers Association of Canada (MFDA) credits with Paul Taylor, Mackenzie Investments, speaking about the monthly income portfolio.