The IIAC has continued to advocate for a household approach to better meet the needs of Canadian investors:

• More than five years have passed since IIROC and Accenture’s joint report entitled, “Enabling the Evolution of Advice in Canada” issued March 19, 2019. It recognized that investors are looking for an approach that considers their households which involve multiple financial goals.
• At the investor’s option, a flexible, holistic client and household centric, as opposed to an account centric, approach is needed.
• Greater efforts are required to close the gap between current regulatory expectation and investor needs, which include tax, family, and succession planning.
• Householding methodologies may vary. A reasonable process should be determined by the firm and explained to clients, who may wish to participate.

Our latest recommendations to members of the Canadian Securities’ Administrators and CIRO are here.