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Unveiling of the CSF’s 2021 annual report and a survey on Quebecers’ personal finance habits and preferences

MONTREAL, June 13, 2022 /CNW Telbec/ – The Chambre de la sécurité financière (“CSF” or the “Chamber”) is pleased to unveil today its 2021 annual report under the theme “A plus to protect the public” which will be presented to its members during of this year’s annual general meeting on June 15. The Board of Trade also wishes to recall the results of an exclusive survey conducted by Léger in 2021, on the habits and preferences of Quebecers in terms of personal finance.

The highlights of this survey are:

  • Seven out of ten Quebecers (70%) say they are informed about personal finance issues and nearly six out of ten Quebecers (58%) do business with an advisor, an experience they find positive;

  • Nearly 9 out of 10 Quebecers believe that working with an advisor gives them access to better financial information;

  • More than half of respondents (56%) prefer doing business with an advisor rather than using technological tools alone (25%);

  • Among some of the technologies available in the future, those that interest Quebecers the most are savings calculators (69%) and a tool to know their financial situation (67%), while those that interest Quebecers the least are tools with artificial intelligence to help them make financial decisions (44%) and a financial robot that would give them advice (32%);

  • Over the next five years, more than two in five Quebecers (43%) believe they will do business with a human advisor, while less than a third believe they will do business with a financial robot (31%).

For the Chamber, the achievements of 2021 take on special meaning due to the technological upheavals and consumer expectations that impact the consulting business. This is where public protection regulators must be flexible and agile in carrying out their mandate.

Although 2021 was marked by the pandemic and its repercussions on the lifestyles of our fellow citizens, for the Board of Trade, this atypical year will have been an opportunity to successfully meet many challenges in order to carry out its important mission and adapt their ways of doing things. in an ever-changing environment.

“It is with a sense of accomplishment that we unveil the Chamber’s 2021 Annual Report. I am extremely happy to see that we have been able to fulfill our mission to protect the public, despite the pandemic. The Chamber has been flexible, agile and we have innovated at the right time. The unique context of this year has been a pivotal moment for us to continue our major transformation and adapt in an industry characterized by rapid change,” said Ms. Marie-Elaine FarleyPresident and Chief Executive Officer of the Chamber of Financial Security.

“The highlights of the CSF’s 2021 annual report demonstrate the proactivity and determination of our leaders and members to be at the forefront of professional practice in order to remain relevant. It is a testament to our resilience in implementing our plans for the future and reflects a year of constant evolution and innovation to deliver on our mission and protect the public,” added Ms. Farley.

Develop our collaborations

The Chamber worked with several partners to increase its interactions in order to collaborate more in the protection of the public. Several initiatives have been launched, including a new portal that will allow compliance officers and senior managers of firms and brokers to consult, in real time, the file of the Professional Development Unit (UPD) of those of their representatives who consent to it. This innovative project is the result of close collaboration with the Conseil des fonds d’investissement du Québec (CFIQ) and required the involvement of several firms and brokers.

At the heart of a network of influencers, the Chamber has developed strong collaboration this year with major players in the sector to better meet the needs of professionals, consumers and all of its partners. The Chamber collaborates with various organizations, such as Option consommateurs, ÉducÉpargne and Protégez-Vous, as well as with the Société québécoise d’information juridique (SOQUIJ). The Chamber also entered into an important agreement with the Mutual Fund Dealers Association of Canada (MFDA) in terms of continuing education.

The directory ProLab event: Supporting the evolution of the profession

In order to meet the continuing education obligations of its members and to pursue its main mission of protecting the public, the Chamber has decided to renew its ProLab event in virtual mode in 2021. The 2022 edition of ProLab – now essential for the profession – will take place on June 15 – this time, in person. The Chamber is thus continuing to deploy its professional development offer to support its members in cultivating excellence.

A key player in its ecosystem, the Chambre de la sécurité financière has 32,000 members, including financial security advisors, group insurance and group pension advisors, financial planners, representatives of mutual fund brokers and representatives of plan brokers. scholarships. It is through the professional supervision of the practice by peers that the Chamber contributes to maintaining public confidence in the financial products and services distribution industry. “Thanks to its members who have participated in an exceptional way in the vitality of its mission and its commitment for more than twenty years, the Chambre de la sécurité financière is today recognized as a credible and respected organization”, continued Ms. Farley. .

About the CSF

The mission of the Chambre de la sécurité financière is to protect the public by regulating all aspects concerning the mandatory continuing education, ethics and discipline of its 32,000 members, including financial security advisors, group insurance and pension advisors, financial planners, mutual fund dealer representatives. and representatives of scholarship plan dealers. www.chambresf.com

SOURCE Chamber of Financial Security

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