Presentation of the CSF’s 2021 annual report and a survey on the personal finance habits and preferences of Quebecers

MONTREAL, June 13, 2022 /CNW Telbec/ – La Chambre de la sécurité financière (“CSF” or the “Chambre”) is pleased to present today its 2021 annual report under the theme “Un plus pour protéger le public” (More for the protection of the public) which will be presented to its members at this year’s Annual General Meeting on June, 15. The Chamber also wishes to recall the results of an exclusive survey carried out by Leger in 2021, on the personal finance habits and preferences of Quebecers.

The highlights of this survey are as follows:

  • Seven out of ten Quebecers (70%) say they are informed about personal finance issues and nearly six out of ten Quebecers (58%) do business with an advisor, an experience they find positive;

  • Nearly 9 out of 10 Quebecers believe that working with an advisor gives them access to better financial information;

  • More than half of respondents (56%) prefer doing business with an advisor rather than using technology tools on their own (25%);

  • Among some of the technologies available in the future, the ones that Quebecers are most interested in are savings calculators (69%) and a tool to find out their financial situation (67%), while the ones that Quebecers are least interested in are tools with artificial intelligence to help them make financial decisions (44%) and a financial robot that would give them advice (32%);

  • Over the next five years, more than two in five Quebecers (43%) believe they will deal with a human advisor, while less than a third believe they will deal with a financial robot (31%).

For the Chamber, the achievements of 2021 take on special significance due to changes in technology and consumer expectations that are having an impact on the consulting profession. This is where public protection regulators must be flexible and nimble in carrying out their mandate.

Although 2021 was marked by the pandemic and its repercussions on the lifestyles of our fellow citizens, for the Chamber this atypical year will have been an opportunity to brilliantly face many challenges to carry out its important mission and adapt its ways of doing things. in a constantly changing environment.

“It is with a sense of accomplishment that we present the Chamber’s 2021 annual report. I am extremely pleased to note that we were able to fulfill our mission of protecting the public, despite the pandemic. The Chamber has been flexible, agile, and we have innovated in the right time. The unique context of this year was a crucial time for us to continue our great transformation and adapt in an industry characterized by rapid changes,” said Ms. marie elaine farleyPresident and CEO of the Chambre de la sécurité financier.

“The highlights of CSF’s 2021 Annual Report demonstrate the proactivity and determination of our leadership and members to be at the forefront of professional practice to remain relevant. It is a testament to our resilience in implementing our plans for the future.” and reflects a year of constant evolution and innovation to ensure our mission and protect the public,” added Ms. Farley.

Expanding our collaborations

La Chambre has worked with several partners to increase their interactions in order to further collaborate in protecting the public. Several initiatives have been launched, including a new portal that will allow compliance officers and senior managers of firms and brokers to consult, in real time, the record of the Professional Development Unit (PDU) of those of their consenting representatives. This innovative project is the result of close collaboration with the Conseil des fonds d’investissement du Québec (CFIQ) and required the participation of several companies and brokers.

At the heart of a network of influencers, the Chambre has this year developed a strong partnership with the main players in the sector to better meet the needs of professionals, consumers and all its partners. La Chambre collaborates with several organizations, such as Option consommateurs, ÉducÉpargne and Protégez-Vous, as well as the Société québécoise d’information juridique (SOQUIJ). The Chamber has also signed an important agreement with the Association of Mutual Fund Agents of Canada (MFDA) regarding continuing education.

the annual ProLab event: Supporting the evolution of the profession

In order to meet the continuing education obligations of its members and fulfill its core mission of protecting the public, the Chambre decided to repeat its ProLab event in virtual mode in 2021. The 2022 edition of ProLab, now a must-attend event for the profession, will be will perform. in June, 15 – this time, in person. Therefore, the Chambre continues to roll out its professional development offerings to help its members cultivate excellence.

A key player in its ecosystem, the Chambre de la sécurité financière has 32,000 members, including financial security advisors, group insurance and annuity plan advisors, financial planners, mutual fund distributor representatives, and scholarship plan distributor representatives. . It is through professional peer oversight of the practice that the Chamber helps maintain public confidence in the financial products and services distribution industry. “Thanks to its members who have been exceptionally involved in the vitality of its mission and its commitment for more than twenty years, the Chambre de la sécurité financière is recognized today as a credible and respected organization,” continued Ms. Farley.

About CSF

The mission of the Chambre de la sécurité financière is to protect the public by regulating all aspects of mandatory continuing education, ethics, and discipline for its 32,000 members, which include financial security advisors, group insurance advisors, and insurance plans. group annuities, financial planners, mutual fund distributor representatives. and representatives of scholarship plan distributors. www.chambresf.com

SOURCE Chamber of financial security

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