MFDA’s strategic plan includes boosting advisor professionalism

By Staff | June 20, 2018 | Last updated on June 20, 2018
1 min read

If you’re an MFDA advisor, your regulator wants to enhance your professionalism.

The MFDA has published its strategic plan for the next four years (2018-2022), comprising three strategic goals, one of which is collaboration and education.

Specifically related to that goal, the SRO says it will strengthen advisor proficiencies and professionalism, and establish a continuing education requirement.

(The comment period ends today for the SRO’s proposed rules for continuing education.)

“We will explore new methods to deliver education and training to address areas relevant to the challenges and issues faced by advisors in the changing environment,” says the report, referring to demographic changes and an evolving industry. “We will continue our approach of supplementing clear regulatory standards with detailed guidance and practical training to enhance advisor professionalism and the quality of advice provided to investors.”

Read: What it really means to put clients first

The MFDA also says it will gather information on seniors’ issues and produce guidance, tools and materials for both advisors and investors.

The other two strategic goals are supporting member innovation, and updating regulatory standards and internal processes.

Under innovation, the MFDA says it will support broad access to financial advice for retail investors “through traditional channels as well as evolving technology-based platforms.”

Read the full MFDA strategic plan.

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