In July 2013, Canada’s securities regulators introduced a set of regulatory changes as part of an ongoing effort to provide investors with more transparency and better disclosure around fees and performance. Client Relationship Model – Phase 2 (CRM2), as these changes are collectively known, is meant to increase Canadians’ confidence in the financial advice industry.
We’ve now reached the mid-point of CRM2’s three-year adoption period. Will Canada’s financial services firms be ready? To find out, we surveyed a number of banks, insurers and asset management firms and interviewed a number of industry leaders.
This report explores some of the themes that emerged out of our conversations.