Ellen Roseman

Personal finance columnist at the Toronto Star and previously the Globe and Mail. My passion is consumer advocacy and making sense of money

Sep 2, 2021
Published on: LinkedIn
1 min read

If you believe bank ads about always working in the best interests of customers, then read this article about new securities rules coming in shortly to make them live up to this commitment — and the unexpected consequences for their clients.

I often wonder if people actually hear what comes out of their mouths and realize just how terrible what they said is.

"In early March, TD said it would no longer give retail branch advisors access to third-party investment funds as of July 1. This change represents a 15% reduction in branch advisors’ product shelf."

So basically, TD admits that going 100% proprietary is no big deal because, let's face it, they only made it look like we were providing some form of choice, so what's the point in offering any choice at all?

But hey, it's ALL in the BEST INTEREST of the client.

#wealthmanagement #conflict #investments

Banks trim product offerings ahead of CFRs