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Clients should be vocal in objections to the status quo and push for change continued from p.19 commission while effectively locking in the money for seven years. Again, may we repeat the criticism was severe. Fast forward and the outcome was the business school graduate salesperson studied investments and saw the evidence of what concerned the irate readers. The positive outcome was he left that company and joined a very respected firm that fully understood the evidence of investing and has a sound investment strategy that is far better for the client. Better investment logic with zero commissions on the sale of any funds. The second story is about a meeting hosted by the Ontario Securities Commission (OSC) with 150 financial advisers. The OSC was getting industry participant feedback on proposed regulations that would transform the investment business into a more transparent process. Under the newly-proposed rules, clients would have to be told what commission the advisers are being paid. The amount of commission was not being regulated but just the amount of commission being paid had to be disclosed. We spoke with someone who was at that meeting and he described it as "crazy" and "a mob scene." Financial advisers were lined up at the microphone and all strongly expressed their disgust at this commission disclosure requirement. There were derogatory comments made about a well-known journalist for continuing to write about the need to reform the investment business. The journalist's writings were completely in line with the feedback our business school graduate received from irate readers about his suggestion to sell hidden commission funds. This has the makings of a big fight. In one corner are investors expressing their opinion against actively managed mutual funds being sold with large and hidden sales commissions. In the other corner, the vocal outcry of mutual fund salespeople who want to protect their livelihood. They want to continue to earn large commissions without that information being shared with their clients. Two opposite views. Both sides are strongly passionate about their beliefs. That is a description of an industry that is broken. These types of broken industries are ripe for entrepreneurs to rise up and harness the consumers' cry for change by offering investors a financial services platform based on the needs of the clients. Clients want and can expect to receive sound investment strategies based on fair fees that are fully transparent. In our opinion, the client's interests will eventually prevail. The investment industry must change. More clients should be vocal in their objection to the status quo and push their adviser to change the way they do business. -- Submitted by Peter Watson, MBA, CFP , R.F .P ., CIM, FCSI., Certified Financial Planner 23 | Thursday, May 7, 2015 | OAKVILLE BEAVER | www.insideHALTON.com 1510 Speers Rd. (at 3rd Line), Oakville Car and Truck Rentals/Sales 905.827.2243 PENWOOD HAND-CRAFTED FURNITURE 22%OFF IN STORE ALL MONTH LONG 24' 5 Ton $ incl. tax, ins., 100 KM's 20' Cube wiTh LifT-gaTe 200 $ incl. tax, ins., 100 KM's 170 EVERYTHING GRAND 22 YEARS IN BUSINESS. 16' Cube Van 12' Cargo Van 11-15 SeaTer Van OPENING MAY 1 - 31 2015 $ tax, ins., 100 KM's 138 incl. $ tax, ins., 100 KM's 108 incl. incl. tax, ins., 150 KM's $ 188 Monday - Wednesday Thursday - Friday Saturday Sunday ANCASTER LOCATION 905.648.6888 1242 GARNER ROAD W. UNIT 5 L9G 3K9 10am - 6pm 10am - 8pm 9am - 6pm 10am - 5pm SALE Rates above are for one day. Multi-day discounts and weekly rates available, long km packages available, 0.29 per km over standard MORRISTON LOCATION 519.837.3555 EXIT 299 - 34 QUEEN ST. N0B 2C0 ROYAL LEPAGE is having a CHARITY GARAGE SALE & FUN DAY! ing to o g s ' It o much be s Come and join us on Saturday, May 9th, 8am - 1pm 231 OAK PARK BLVD., BEHIND WALMART 100% of the funds raised from the garage sale and events go to help our local shelter, The Halton Women's Place, as well as, innovative violence prevention and education programs in our community. Our National Sponsors Co ol ies & Mu rit !! Celeb N US ! ood, N FSU F , f f u t sic! r I shine! JO ain or For more info go to www.oakvillegaragesale.ca!