New rules and their impact on the career choices of future financial planners

“Greg Newman doesn’t regret becoming a financial adviser instead of a lawyer. Since graduating from law school in the mid-’90s, he’s carved out a comfortable life as an associate portfolio manager and director of The Newman Group, a Toronto-based affiliate of Scotia McLeod, and still feels good going to work most days.  But if he had to do it all over again starting now, he’s not entirely sure he’d make the same career choice. Many others likely share that thought,” wrote David Pett on January 30th, 2015 for the Financial Post. Pett continued, “New industry regulations, shifting demographics and ongoing product and technology innovations are threatening the status quo of what was once one of the country’s most secure, if not sure-thing, professions.  “When I made the call 18 years ago, I knew I had a good chance to be successful,” Mr. Newman said. “But the business is changing. It’s so much harder to start from scratch now than it was back then.”  Sweeping reforms being both enacted and contemplated by the country’s regulators in order to establish greater transparency between advisers and their clients are one big reason for that.” Read the full article hereRaymond Matt, CFP, CLU, TEP, CHS  

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