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Ottawa Chapter January 31, 2013. Advocis Working on Your Behalf. Overview. Advocis Regulatory Affairs Recent lobbying success Raising Advocis’s profile Advocis research initiatives Advocis Legislature Days Education update APA update. Advocis Regulatory Affairs. Fiduciary Duty - PowerPoint PPT Presentation
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Advocis™, CLU™ and APA™ are trademarks of The Financial Advisors Association of Canada.
Ottawa Chapter January 31, 2013
Advocis Working on
Your Behalf
Overview Advocis Regulatory Affairs
Recent lobbying success
Raising Advocis’s profile
Advocis research initiatives
Advocis Legislature Days
Education update
APA update
Advocis Regulatory Affairs
• Fiduciary Duty
• Banning of third-party commissions
Recent Lobbying Success
• Manitoba’s proposed tax on critical illness insurance, disability insurance and individual corporate-owned life insurance
Advocis went public with its concerns
• Over 15 media outlets picked up the story
Almost 400 Advocis mentions in consumer and industry media
in 2012
Media Successes in 2012
http://link.advocis.ca/download/BNN-Greg.html
Advocis in the NewsAdvocis was mentioned over 30 times in January 2013, including coverage
in:
CKNY Radio Vancouver The Globe and Mail Globe Advisor The National Post MoneySense CBC online Investment Executive Insurance and Investment Journal Yahoo! Finance Reuters Canadian Business Press St. Catharines’ Standard
Advocis in the NewsGlobe and Mail Jan.17, 2013
Advocis in the NewsGlobe and Mail Jan.17, 2013
Advocis Research Initiatives
• Advocis commissioned Investor Economics to provide information about the economic impact of financial advice
The financial advice industry in Canada
Financial Advisors in Canada2011
10,280
38,690
28,600
13,100
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
Full-service BrokerageAdvisors
Independent FinancialAdvisors
Career FinancialAdvisors
F.I. In-branch Advisors
Type
Nu
mb
er
[1] Source: Investor Economics, February 2012[1 All data in this profile is from Investor Economics, February 2012 Report, unless otherwise indicated
Life and health insurance advice in Canada
$150 $1,038
$10,431
$1,240
Living BenefitsLife InsuranceSegregated FundsAnnuities
New Business Life & Health Insurance Premiums in Canada - 2010 ($millions)
Note: Represents insurance solutions provided by independent and career advisors only
Financial advice spans entire life cycle of Canadian families
Advocis Research Initiatives … continued
• Advocis partnered with IFIC to deliver the results of a scientific study that shows new evidence on the value of financial advice
CIRANO study on the value of financial advice
Growth in Financial Assets Over Time of Households that ReceivedAdvice Compared to those that Did Not Receive Advice
1.58x
1.99x
2.73x
0
0.5
1
1.5
2
2.5
3
4 - 6 Years 7 - 14 Years > 15 Years
Years with a Financial Advisor
Rat
io o
f Adv
ised
vs.
Non
-adv
ised
Fina
ncia
l Ass
ets
Advocis Legislature Days
• Ontario Legislature Day, April 24, 2012
• Alberta Legislature Day, October 24, 2012
Education Update
• Update 2013
• CHS program
• LLQP
APA Update
• No premium increases in 2013
• Continued growth in certificate holders
• Exempt market product coverage
• New education programs for 2013
