CSI approved for financial advisor title use in Ontario
Latest designation helping to promote consistency, professionalism and confidence within financial services marketplace
To further strengthen consumer and investor protection, the Financial Services Regulatory Authority of Ontario (FSRA) has approved the Canadian Securities Institute (CSI)’s Designated Financial Services Advisor (DFSA™) designation as a credential for Financial Advisor title use in Ontario.
“The DFSA™ designation will enable many financial professionals to continue to use the Financial Advisor title under the Financial Professionals Title Protection Framework,” says Huston Loke, Executive Vice President, Market Conduct at FSRA. “By leveraging existing proficiency requirements as well as registration with securities and mutual fund authorities, we are minimizing regulatory burden while helping to promote consistency, professionalism, and confidence among those offering financial planning and advisory services. The commitment of these professionals to placing the interests of the client ahead of their own, and to continuing education, will benefit the entire industry.”
CSI is the third credentialing body approved for Financial Advisor title use in Ontario. CSI’s Personal Financial Planner (PFP®) designation was approved for Financial Planner title use in Ontario in May 2022.
"CSI is very pleased to have its Designated Financial Services Advisor (DFSA™) approved by FSRA," says Marie Muldowney, Managing Director, Canadian Securities Institute. "The DFSA™ is being endorsed by most of Canada's leading financial institutions and ensures that Financial Advisors have superior knowledge and skills to provide appropriate advice to address a client's financial situation."
FSRA-approved credentialing bodies are responsible for overseeing and enforcing the conduct of their Financial Planner or Financial Advisor credential holders. FSRA requires credentialing bodies to have robust supervision processes and a code of conduct that requires credential holders to put the client’s interest first.
Financial Planner and Financial Advisor title protection in Ontario is an important and positive development for the industry and for consumers seeking financial planning and advisory services. Establishing minimum education, conduct and supervision standards helps promote consistency, professionalism and confidence among those individuals using the titles. It also reduces confusion regarding the wide array of titles and credentials being used in the financial services marketplace.
For more information about CSI, and the FSRA-approved PFP® and DFSA™ credentials, please visit CSI.ca.
- FSRA is committed to providing ongoing regular updates to facilitate the successful implementation of the Financial Professionals Title Protection Framework, which will be phased in over time.
- To facilitate this transition through the balance of 2022, FSRA’s resources will be focused on approving credentialing bodies and assisting them with the implementation of the title protection regime.
- Please visit FSRA’s Financial Planners and Financial Advisors Industry page for more information, including a list of approved credentialing bodies and their approved credentials, transition periods and titles covered.
- FSRA is actively reviewing applications and will continue to announce additional credentialing bodies and their designations as they become approved.
- FSRA welcomes existing professional / designation bodies to apply as credentialing bodies under the framework.
FSRA continues to work on behalf of all stakeholders, including consumers and pension plan members, to ensure financial safety, fairness, and choice for everyone.
Learn more at www.fsrao.ca.
For media inquiries:
Financial Services Regulatory Authority (FSRA)
E: [email protected]