Beyond Suitability: Acting Like a Fiduciary When You Don’t Have To

By CE Corner

In Canada, financial planners are generally held to a “suitability” standard, meaning advice must be appropriate but not necessarily optimal. This creates a grey zone where advisors can technically comply with regulations while still prioritizing their own compensation over the client’s best interest. 

This session explores how to bridge the gap between suitability and fiduciary-level advice. Using real-world scenarios (CPP timing, RRIF withdrawals, insurance sales), we’ll examine how incentives can subtly shape recommendations, how to recognize when you might be serving your own interests first, and practical steps to ensure advice is truly client centered.