Description: This past Wednesday, the Financial Services Regulatory Authority of Ontario revealed its plan to ensure “financial advisors” and “financial planners” would have to comply with minimum criteria. Currently, anyone who wants to can hang out their shingle calling themself a financial planner or advisor, thereby potentially confusing consumers. These changes will be accomplished in a four-year time frame, and will include a credentialing process with education standards.
Date: March 23, 2022
1) Do you have an interest in a career as a financial advisor or financial planner? How about others in your class?
2) What are some areas of your life where you would appreciate some financial advice?
3) Page 1-4 in Wiley’s Managerial Accounting: Tools for Business Decision-Making provides an illustration of the differences between financial accounting and managerial accounting. Based on your review of this information, which of these types of accounting do you feel would best prepare a person to be an effective financial planner? (Consider having a class discussion on this question.)