The Financial and Consumer Affairs Authority (FCAA) wants to help Saskatchewan investors be proactive when working with a registered firm and their registered individuals. A successful investing relationship requires all parties to be informed and ask questions.
Your registered individual’s job is to ensure you receive suitable investment advice. By understanding the investing process and knowing what information you should be receiving, you will become a proactive investor and enhance your relationship with your registered individual.
“By understanding the investing process, you can have an informed relationship with your representative and a better understanding of your investments,” FCAA Executive Director of Securities Dean Murrison said.
Here are some tips to help you become a proactive investor:
Before you select your firm or individual:
Make sure they are registered by checking the National Registration Search at https://www.securities-administrators.ca/nrs/nrsearchprep.aspx?ID=1325; and
Check to see if there has been any disciplinary action taken against the registered individual or the registered firm by viewing the Canadian Securities Administrators
Disciplined List at https://www.securities-administrators.ca/disciplinedpersons.aspx?id=74 and the Canadian Securities Administrators Investor Alerts list at https://www.securities-administrators.ca/InvestorAlerts.aspx?id=985.
Make sure you understand all disclosure materials you receive from your registered individual.
Check your trade confirmations and account statements to make sure they are accurate.
Know the fees you are paying on your investments and on your account.
Make sure all payments are made to the registered firm, not the registered individual. If you are asked to make a payment to someone else, check with the registered firm first.
Ask your registered individual questions if you do not understand something. If you still do not understand, contact the registered firm’s branch manager to inquire further.
To learn more about how to be a proactive investor, visit www.fcaa.gov.sk.ca/investing.
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