Professional titles
A professional title confirms that the advisor has completed the required training and has the required skills to practice a given profession. A professional uses it to identify himself to the public as someone who practices a specific business. It can be used to distinguish oneself from other professionals.
The use of professional titles in the financial sector is governed by regulations. There are mandatory, authorized, and prohibited professional titles based on the advisor’s field of practice.
Upon his first meeting with a client, the advisor must provide him with a document (such as a business card) that provides certain information, including the professional titles he is authorized to use. If the first communication with the client occurs remotely, the advisor must send him this information the first time he sends other documents, such as his electronic signature in an e-mail. In this section you will find the title usage limits for professionals.
Authorized professional titles
When introducing himself, the advisor must use the titles authorized or required by the law and regulations. The following section lists the titles that must or may be used by advisors.
The titles that the advisor must use for each discipline are listed below.
|
Discipline or discipline category |
Mandatory title |
|---|---|
|
Insurance of persons |
Financial security advisor |
|
Accident and sickness insurance representative |
|
Group insurance of persons |
Group insurance and annuity advisor |
|
Group insurance plan advisor |
|
Group annuity plan adviser |
|
Financial planning |
Financial planner (“F. Pl.”) |
|
Discipline or discipline category |
Authorized title |
|
Personal insurance or group personal insurance |
An advisor who completes the required training and obtains a professional title granted by the CSF may, following a request, use the title of registered life underwriter (or “RLU”) or chartered life underwriter (or “CLU”) as applicable, as outlined in the section Titles and designation. |
CSF Titles
Registered life underwriter (RLU) or chartered life underwriter (CLU)
The CSF has the exclusive right to authorize a personal insurance advisor or group personal insurance advisor to use the titles of registered life underwriter (RLU) and chartered life underwriter (CLU) after completing the required training and obtaining the right to use these titles following a request for this purpose.
For more information, including about the process and conditions of obtaining one of these titles, click here.
Other titles
In insurance and financial planning, following the professional titles related to the distribution of financial products and services, an advisor may add in his representations a title related to training or a degree when it is related to his business practice, as long as it is not contradictory with the practice and does not cause confusion.
The titles that the advisor may use for each registration category are listed below.
|
Registration category |
Authorized titles |
|---|---|
|
Mutual Funds |
Dealing representative of a mutual fund dealer |
|
Scholarship plans |
Dealing representative of a scholarship plan dealer |
Other titles
In mutual funds and scholarship plans, the advisor must follow the title usage rules of the brokerage for which he works.
This section applies to all CSF members.
Advisors must be careful when using their professional titles. Some are forbidden by regulations and others are forbidden because they contain a qualifier or are misleading.
Any titles containing one of the following five expressions, with words grouped together with other words or separated by other words, are prohibited:
- Financial planner
- Financial planning
- Financial adviser
- Financial consultant
- Financial coordinator
No qualifiers may be used by advisors in their representations. A qualifier is an addition, a note, or an adjective based on subjective concepts, such as “emeritus,” “senior,” “expert,” or “specialist.”
Advisors may not use a title that is partially or entirely based on their sales volume or turnover. This is because a designation, compensation, recognition, or title appearing prestigious that is associated with the sales volume or turnover generated by the advisor could reasonably mislead a client as to their skills, experience, and qualifications. For instance, an advisor using the title “Vice President” not because they are an executive but because they have a high volume of sales.