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future industry professionals

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

Read about the profiles of professionals in the financial services industry and about the various professions the CSF’s members practise.

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 website of the Autorité des marchés financiers.

Mutual fund dealer representative

A mutual fund dealer representative analyzes the financial situation of his clients in order to offer them mutual funds that suit their situation and investor profile. He acts on behalf of a dealer.

To become a mutual fund dealer representative, 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

A financial planner prepares a personal financial plan for his clients based on their situation and financial objectives. In carrying out his activities, he takes the following seven matters into account: insurance, finance, taxation, legal considerations, investments, retirement and estate 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 Autorité des marchés financiers*;
  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 the Act respecting the distribution of financial products and services provides that members of certain professional orders having entered into an agreement with the Autorité des marchés financiers 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 CSF.

Representative in insurance of persons (also referred to as a “financial security advisor”)

A financial security advisor analyzes the financial situation of his clients in order to advise them on how to protect their finances and increase their wealth. He offers a variety of services and insurance products, such as life insurance, disability insurance, critical illness insurance and individual annuities, from one or more insurers.

The Life Licence Qualification Program (LLQP) applies to those seeking the right to practise in the following sectors and sector classes:

  • Insurance of persons sector;
  • Accident and sickness insurance sector class;
  • Group insurance of persons sector;
  • Group insurance plans sector class;
  • Group annuity plans sector class.

In order to become a representative in one of these sectors or sector classes, a person have to:

  1. Demonstrate that they have successfully completed specialized training offered by a provider accredited by the Autorité des marchés financiers;
  2. Pass the Autorité des marchés financiers's LLQP examinations;
  3. Complete a 12-week probationary period;
  4. Apply for a representative's certificate;
  5. At the time of registration, and annually thereafter, hold a valid professional liability insurance policy, pay dues to the CSF (see the Règlement sur la cotisation de la Chambre de la sécurité financière) and contribute to the Fonds d'indemnisation des services financiers.

Representative in group insurance of persons (also referred to as a “group insurance and group annuity plans advisor”)

A group insurance and group annuity plans advisor analyzes the needs of businesses and their employees in order to offer them products and consulting services pertaining to group insurance and group annuity plans from one or more insurers.

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”.

The Life Licence Qualification Program (LLQP) applies to those seeking the right to practise in the following sectors and sector classes:

  • Insurance of persons sector;
  • Accident and sickness insurance sector class;
  • Group insurance of persons sector;
  • Group insurance plans sector class;
  • Group annuity plans sector class.

In order to become a representative in one of these sectors or sector classes, a person have to:

  1. Demonstrate that they have successfully completed specialized training offered by a provider accredited by the Autorité des marchés financiers;
  2. Pass the Autorité des marchés financiers's LLQP examinations;
  3. Complete a 12-week probationary period;
  4. Apply for a representative's certificate;
  5. At the time of registration, and annually thereafter, hold a valid professional liability insurance policy, pay dues to the CSF (see the Règlement sur la cotisation de la Chambre de la sécurité financière) and contribute to the Fonds d'indemnisation des services financiers.
Scholarship plan dealer representative

A scholarship plan dealer representative offers his clients units of scholarship plans, which form part of the category of higher learning registered education savings 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.

A person can be registered in several sectors or registration categories and can hold several titles, such as financial planner and representative in insurance of persons. This is referred to as multidisciplinarity.