Check and double check
Amid the tales of financial despair stemming from Montreal’s Earl Jones saga, investors everywhere are becoming more aware of what they can do to protect their money when investing.
Checking whether an investment advisor is registered with a securities regulator and what they are allowed to do on your behalf is certainly an important step. The Globe’s Rob Carrick outlines this quite well in a recent piece.
And, as we pointed out in an earlier blog, there’s an initiative afoot that the BCSC is leading to simplify checking registration across Canada.
But, as the Globe piece notes, there’s more that you can do to check on the background of those you are dealing with when it comes to investing. For some time now, we have made available a Background Research Toolkit. The toolkit allows you to check not only the registration of an advisor but also whether they have been disciplined in the past. It allows you to check on a company’s history and news reports about it as well as helpful links to other search tools. Really, it provides a useful starting point for any background check.
(For those who are interested, there is a similar toolkit for investment industry folks or professional researchers that highlight more paid sources.)
And, as always you can always email or call the BCSC Inquiries Group (604-899-6854 or toll-free 1-800-373-6393) to speak to a staff trained to help with your questions.