Why I am an Advocis Member

The professionals of the organization of Advocis, or the Financial Advisor Association of Canada are constantly facing new challenges and our best way to protect all the participants in Canada that puts added standards on client’s interests, is through Advocis.   This is the fundamental reason why I am an Advocis member and you should be one also.

The time period we find ourselves in has had more then it’s fair share of problems for the financial industry over the last decade, whether it be the low interest rate investment environment, or the global debt problems facing entire countries and there citizens, a near miss from an entire global financial crash into depression (2008) and ridiculous financial engineering that once revealed, seems impossible to believe that highly intelligent human beings could succumb to making such destructive decisions relating to lending, corporate governance, and underwriting practices. All the changes in the financial industry that have happened in the last 20 plus years, are still not going to be fully understood until after the effects have been fully felt. Financial professionals are faced with a high probability of more financial challenges in the next decade.  With more challenges, we will likely see more consolidation on both a grand & small scale in the financial industry.  Advocis is the number one association that can help influence financial companies & regulators to protect clients and advisors in consolidation periods.   

All participants who give advice relating to financial products such as, wealth advisors,   Insurance agents, mortgage specialist’s, Financial Planners (fee only or fee & commission), Investment advisors, Portfolio Managers, Investment Bankers, Bank representatives, Accountants, Company Officers and certain Lawyers as well as others, should be aware of this association and the direct impact it can make for the future of our clients. The needs of all these individual clients are going to be the main points for consideration when managing change in the future surrounding financial affairs facing Canadians. Many financial product providers may not be competitive or competitive in certain markets like they use to be and clients and advisors need an organization like Advocis to help guide the industry forward.  Financial Companies and Advisors should all support Advocis to help ensure the industry is moving forward and being proactive with change.  

Derek Scott
Deeds Financial Group

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