Video: How to mitigate compliance concerns

Content produced by Canadian advisors is regulated by three groups, depending on how you’re licensed: the Canadian Investment Regulatory Organization, the Canadian Securities Administrators and provincial insurance regulators.

Advisor content must be truthful, balanced and clear. You’re expected to avoid hype, misleading claims and unsupported guarantees. 

By creating content responsibly and making sure you’re compliant with regulations, you’re protecting your reputation, your license and your clients.

There are five principles to follow:

1. Be fair and balanced: Present both benefits and potential downsides when discussing strategies, products or services. Example: Permanent life insurance can offer long-term protection and build cash value, but it usually costs more than term insurance.
2. Avoid misleading claims: Don’t promise guaranteed returns and avoid overstating the potential benefits of a strategy, product or service. Using words like may, can or help qualify claims. Example: Investing in equities may help grow your nest egg over time.
3. Don’t give personalized advice in public content: Stick to general information. Avoid telling audiences exactly what they should do, as you don’t know each individual’s full situation.
4. Include disclaimers and disclosures in your content: State that your content is for general information only and not intended as personal advice. Include your full name, license or registration type, and your firm’s name in the content or description.
5. Get approval and document your content: Follow your firm’s compliance approval process and keep a record of what you publish and the day it went live. Even if you’re self-employed, it’s a good practice to document your content and ensure it aligns with regulatory expectations.

Additional expectations

Your dealer or agency may have its own rules for your content, such as:

• Using approved branding and templates.
• Posting only on monitored platforms.
• Following strict rules on client testimonials (if allowed at all).

If you’re unsure, review your firm’s marketing policies or speak with your compliance officer.

Gregory Bisch

Gregory Bisch is founder, head of strategic content and communications at Contentr Media Communications.