The province’s three regulators of the investment markets visited financial advisors over a six-month period in 2014 and have reported their findings.
The "mystery shoppers" posing as investors visited and assessed dozens of advisors and reported back on factors such as the quality of the advice given, whether the process was followed and if advisors were upfront about their compensation.
No serious misconduct was uncovered, although there were some concerns over procedures and lack of information about compensation.
While mortgage brokers were not the target of this operation, it’s possible that regulators such as FCSO and FICOM considered similar tactics.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Scotch Village, Lestock, South Elmsley, Noëlville, York Harbour
Mortgage brokers could be visited by undercover investigators following an operation by investment regulators in Ontario.