What’s in a vowel? An awful lot, according to CBC News.
A story published March 29 says there are 121,000 people registered as “financial professionals” in Canada, with the vast majority listed as dealing representatives — salespeople licensed to sell financial investments.
However, only about 4,000 of these registered financial professionals have a fiduciary duty – the legal obligation to act in the client’s best interest.
A common trick for misleading customers? The banking industry’s use of the term “financial advisor” — spelled with an “o.” Read the story to learn more on the impact this one letter is having on countless people.Check out what CBC has to say!