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President's Message

Presidentís message for spring

I'd like to extend my warmest spring wishes to all members of the financial community in Peel Halton and surrounding areas. Members of Advocis as well as non-members in our industry are in exciting times. I've recently spent the last two days at an investment conference where I heard both optimistic and pessimistic views of the opportunities for growth and yield. Depending on one's viewpoint and the sets of information one focuses on, arguments can be made that there are significant opportunities for continued market growth or that significant monetary policy engineering is creating systematic risk. Regardless of what side of the fence you lean towards, our industry has always had plenty of room for differing viewpoints, approaches to the business, and Client service models.

This brings me to where our industry stands at the present time. A myriad of regulatory evolution, accounting rule impacts on product design, budgetary developments, lower investment yields, increased media and client scrutiny, and changing complexities in our business are making the next few years for us some of the most challenging we've faced in decades, and yet also some of the most opportunistic.

The future of any industry is always held in the hands of the relative few who take an active part in anticipating change and creating their own destiny. Not fighting change, but being an active catalyst for positive creation of a not only a new normal, but a new extraordinary.

Your Advocis leadership has been very active with regulators and legislators across the country and in your own backyard. As your local volunteer board, our focus is to be your voice to national and ensure that your concerns are not only heard, but become part of the national dialogue with those that impact our business.

Many different competing interests are at work to steer the influencers towards self interested results. Advocis is ensuring that Canadians will continue to have independent choices in how they receive their financial advice and implement product solutions. It's vitally important that all Canadians increase their financial literacy and have professionals with which to deploy their personal financial strategies.

Advocis is also currently working with legislators to table a motion for all advisors to be members of a professional association. Of the tens of thousands of people giving financial advice in this country, less than 20,000 are members of the largest associations. (Advocis, JAFP, and IFB). Canadians deserve to be served by advice givers who live by high standards of conduct and put client interests first.

I ask of each of you to consider 3 things for the balance of this year:
1. Support a motion to mandate professionalism in our industry by supporting an online petition on the subject. The link can be found here: https://www.advocis.ca/raisethebar/index.html
2. Let us know at the local level what your national representation can do to support your varied business models as they related to compensation disclosure.
3. Let us know at a local level how we can best deliver value to you in education, professional development, and professional networking by emailing me directly

Chris Paterson
Advocis Peel Halton President

Advocis, Peel Halton
115 George Street, Ste. 428, Oakville, Ontario L6J 0A2
Tel: 905-337-9876 Fax: 905-337-7805
Email: advocispeelhalton@cogeco.net Copyright © 2008.