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Last week I saw a report on CBC about a common trick used by the big banks which misleads customers by using the term "Financial Advisor", spelled with an "o" vs the industry regulated term "Financial Adviser".  There's a difference between a financial adviser and a financial advisor. "Advisers" are regulated and have a legal responsibility to act in YOUR best interest. "Advisors" are not the same, they are employees of the bank who are paid to look out for the bank but lure you in with a similar name.

 

Not only are the titles misleading with "Advisers" looking out for your interests and "Advisors" looking out for the banks, there is also a large gap in the knowledge and education between the two titles too.  "Advisers" are trained...

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