News

The Benefits and Pitfalls of RESPs

Registered Education Savings Plans, perhaps the most popular of all savings vehicles for helping one save for post-secondary education, have been touted as the "Go To" savings vehicle.  But while all RESPs are beneficial, certain RESP products can be quite restrictive, often limiting the extent to which they are effective.…

FSCO to Plan Suitability of Life and Mortgage Product Suitability

Ontario plans on reviewing the suitability of life insurance products sometime in the following year. Key to this review is the study of how agents/brokers respond to the financial literacy needs of their clients. At the same time, FSCO may also collaborate with the Ministry of Finance to assess the…

Grassroots Discussions for CFP Provincial Integration

FPSC Presents to Ontario Government Consultations Regarding the Need for Professional Recognition of Financial Planning. The Ontario government made a commitment in the 2013 Fall Economic Outlook and Fiscal Review to investigate the merits of more tailored regulation of financial planners and to consider the appropriate regulatory framework for doing…

FPSC to Begin National Awareness Campaign

FPSC® is raising consumer awareness of CFP® professionals through a national CBC television advertising campaign that starts today and will run until November 24. The thirty-second commercial spot will be placed 311 times over the course of the campaign, reaching close to 6.5 million Canadians between the ages of 35 and…

Changes to Tax-Exemption Test for Canadian Life Insurance Policies

Background In the 2012 federal budget, the government proposed changes to the tax-exempt test for life insurance products. A policy is exempt if its savings component does not exceed that of a benchmark policy. The proposed changes would affect the savings components of actual and benchmark policies, especially permanent life…

CIC Asks Canada on What’s the Right Immigration Level and Mix

Since 2006, Canada has sustained the highest level of immigration in Canadian history for a variety of socio-ecomonic reasons. On June 21st of this year, Citizen and Immigration Canada has taken steps to gauge the general perception of the public on what the appropriate level and mix of immigration should…