Future Industry Professionals

Thinking about taking up a career in the distribution of financial products and services field (e.g.: insurance, securities or financial planning)? In Québec, entry into the profession is administered by the Autorité des marchés financiers (AMF). For its part, the Chambre de la sécurité financière oversees nearly 32,000 professionals who already have the right to practice.

This section provides an overview of the requirements for obtaining a representative’s certificate, by sector and by registration category. For a more detailed description, visit the AMF‘s website

Representative of a mutual fund dealer

The representative of a mutual fund dealer is a professional who makes recommendations to allocate your investments in mutual funds based on your investor profile. With your authorization, he allocates these investments and makes recommendations during a follow-up of further to a change in your financial situation.

To become a representative of a mutual fund dealer, a person must:

1. pass one of the following examinations:



• Canadian Investment Funds examination of the Investment Funds Institute of Canada (IFIC);
• Canadian Securities Course examination of the CSI;
• Investment Funds in Canada Course examination of the CSI;
or


• satisfy the education and experience requirements for an advising representative of a portfolio manager;
2. enrol in the National Registration Database (NRD);


3. at the time of registration, and annually thereafter, furnish a valid professional liability insurance policy, pay dues to the Chambre de la sécurité financière (see the Règlement sur la cotisation) and contribute to the Fonds d’indemnisation des services financiers.

Financial planner

The financial planner is a professional generalist who prepares a personal financial plan that includes your objectives and financial, fiscal, legal and succession strategies to achieve them, in conjunction with other professionals of the following fields of activity such as insurance, legal aspects, finance, taxation, investments, retirement and succession planning.

In order to be authorized to use the title of financial planner, a person must:

1. have a diploma granted by the Institut québécois de planification financière (IQPF);


2. hold a certificate issued by the AMF*;


3. at the time of registration, and annually thereafter, furnish a valid professional liability insurance policy, pay dues to the Chambre de la sécurité financière (see the Règlement sur la cotisation) and contribute to the Fonds d’indemnisation des services financiers.

*Section 59 of An Act respecting the distribution of financial products and services provides that members of certain professional orders having entered into an agreement with the AMF are exempted from the obligation to obtain a certificate. In such a case, these persons are overseen by their professional order and are not members of the Chambre.

Representative in insurance of persons

The representative in insurance of persons is a professional who offers individual insurance products in insurance of persons or individual annuities from one or more insurers, as an independent representative or by a firm or by an independent partnership.

To become a representative in insurance of persons, a person must:

1. satisfy the minimum qualifications required by the AMF;


2. pass the AMF’s examinations;


3. complete a 12-week probationary period;


4. apply for a representative’s certificate;


5. at the time of registration, and annually thereafter, furnish a valid professional liability insurance policy, pay dues to the Chambre de la sécurité financière (see the Règlement sur la cotisation) and contribute to the Fonds d’indemnisation des services financiers.

Representative in group insurance of persons

A representative in group insurance of persons is a professional entitled to pursue activities in one of the following categories:

• Group insurance of persons. In such a case, he has the title of “Group Insurance and Group Annuity Plans Advisor”;
• Group insurance plans. In such a case, he has the title of “Group Insurance Plans Advisor”;
• Group annuity plans. In such a case, he has the title of “Group Annuity Plans Advisor”.

To become a representative in group insurance of persons, a person must:

1. satisfy the minimum qualifications required by the AMF and certain compulsory course requirements depending on the registration category;


2. pass the AMF’s examinations depending on the registration category;


3. complete a 12-week probationary period for the group insurance of persons sector and a 6-week probationary period for the group insurance plans and group annuity plans sector classes;


4. apply for a representative’s certificate;


5. at the time of registration, and annually thereafter, furnish a valid professional liability insurance policy, pay dues to the Chambre de la sécurité financière (see the Règlement sur la cotisation) and contribute to the Fonds d’indemnisation des services financiers.

Representative of a scholarship plan dealer

A representative of a scholarship plan dealer is a professional who offers units in scholarship plans.

To become a representative of a scholarship plan dealer, a person must:

1. pass the Sales Representative Proficiency Exam of the Registered Education Savings Plan Dealers Association of Canada;


2. enrol in the National Registration Database (NRD);


3. at the time of registration, and annually thereafter, furnish a valid professional liability insurance policy, pay dues to the Chambre de la sécurité financière (see the Règlement sur la cotisation) and contribute to the Fonds d’indemnisation des services financiers.