The Financial Services Regulatory Authority of Ontario (FSRA) has approved the Canadian Securities Institute (CSI)'s Designated Financial Services Advisor (DFSA) designation as a credential for Financial Advisor title use in Ontario.
CSI's Personal Financial Planner (PFP) designation was approved for Financial Planner title use in Ontario in May 2022.
"The DFSA™ designation will enable many financial professionals to continue to use the Financial Advisor title under the Financial Professionals Title Protection Framework," said Huston Loke, Executive Vice President, Market Conduct at FSRA. "By leveraging existing proficiency requirements as well as registration with securities and mutual fund authorities, we are minimizing regulatory burden while helping to promote consistency, professionalism, and confidence among those offering financial planning and advisory services.”
FSRA-approved credentialing bodies are responsible for overseeing and enforcing the conduct of their Financial Planner or Financial Advisor credential holders. FSRA requires credentialing bodies to have robust supervision processes and a code of conduct that requires credential holders to put the client's interest first.
In addition to the CSI, the Canadian Institute of Financial Planning (CIFP), FP Canada, the Institute for Advanced Financial Education (a subsidiary of Advocis), are approved credentialing bodies that offer designations for Financial Advisor title use in Ontario.