TORONTO, March 2, 2017 /CNW/ - The Investment Funds Institute of Canada (IFIC) today released a short video featuring Canada's Financial Literacy Leader Jane Rooney that encourages Canadians to open their investment statements and learn more about their money. The video is part of an investment funds industry campaign designed to encourage clients to take the first step toward improving their understanding of the services they receive, how much they pay for these services, and whether they are on track to meet their financial goals.
"By mid-July of this year, every investor will have received two new annual reports from their investment dealer, under a new rule called the Client Relationship Model (CRM), that provide personalized information on the performance of their investments and the fees that they pay," said Paul Bourque, IFIC's president and CEO. "The industry sees the introduction of these new reports as an ideal opportunity to remind investors that they should be taking time on a regular basis to understand their investments and talk to their advisors."
In the one-minute 15-second video, Jane Rooney talks to Canadians about the new investment reports they are receiving and the benefits of reviewing them. "Jane Rooney is a passionate advocate for financial literacy and her support for this campaign highlights the value of being an informed investor," Bourque said.
"Financial literacy is a priority, and the investment funds industry is taking positive steps to ensure that Canadians develop the knowledge, skills and confidence to become informed and capable investors," said Ms. Rooney. "I believe that knowledge empowers Canadians to make responsible financial decisions and ultimately, to be able to secure sound financial futures for themselves and their families."
The new reports represent Phase 2 of CRM. CRM was developed by Canada's securities regulators in consultation with the industry in order to strengthen the client-advisor relationship and improve investor awareness and understanding of key aspects of their investment accounts. "The new reports represent a positive industry trend towards greater transparency," Bourque said. "It's what investors want and value, and this is an important step to get us there."
Investment dealers have until July 14, 2017 to begin sending the new annual reports, though most investors will receive them in the first quarter of the year.
IFIC's bilingual campaign with the theme "It's your money. Find out more. / C'est votre argent. Informez-vous." features the video and uses social media to encourage investors to read their new reports and spread the message by sharing a badge that says "I read mine. /Je lis mon relevé."
The Investment Funds Institute of Canada is the voice of Canada's investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada's savers to Canada's economy, our industry contributes significantly to Canadian economic growth and job creation. The organization is proud to have served Canada's mutual funds industry and its investors for more than 50 years.
SOURCE The Investment Funds Institute of Canada
For further information: Sara Clodman, Senior Manager, Public Affairs ([email protected] │416-309-2317)