News and resources for Canada's top financial advisors
“FPSC supports the advancement of financial literacy for all Canadians,” said Cary List, president and CEO, FPSC. “The past year underscored that the status quo is insufficient in ensuring the economic, financial and social well-being of individuals and of our country,” he said.
FPSC recommended the need to go beyond increasing knowledge to focusing on behavioural change. Some of the submission highlights include:
The submission eloquently mirrored what Iannicelli said rather succinctly. “Learn, budget and save.” Individuals who do that are taking responsibility and are being empowered.
“My point here is that there exists in Canada a serious financial literacy deficit,” said Iannicelli. “Canadians do not generally understand how to manage their financial situation, or they don’t want to.” He said it was a growing social issue and needed to be addressed.
He brought focus on another key component of financial responsibility: retirement planning. “Saving for the future is an important issue and we need to act – now.”
He asked government to do more to educate and motivate Canadians to think about retirement planning. “May be governments should even consider a scare campaign to get Canadians’ attention. It’s that serious,” he said.
Iannicelli offered strong views on pension programmes. “(Private sector) could do (pension planning) that is more efficient (than government-run plans), because that’s what we do.”
He assured those concerned about the cost of private pension plans that the competition will drive cost down and increase value to the consumer. “That’s our business. If we don’t do it well and (in a) cost-efficient (manner), we won’t sell anything,” said Iannicelli.
Government, he said, should leave pension planning to private players.
“It’s not their business. I have a real difficult time understanding how they can do nearly as good (a job) as the private sector.”
The idea of shaping financial behaviour in youth has found resonance in the Financial Planning Standards Council (FPSC), a not for profit organization dedicated to Canadians’ financial planning needs.
“FPSC supports the advancement of financial literacy for all Canadians,” said Cary List, president and CEO, FPSC. “The past year underscored that the status quo is insufficient in ensuring the economic, financial and social well-being of individuals and of our country,” he said.
FPSC recommended the need to go beyond increasing knowledge to focusing on behavioural change. Some of the submission highlights include:
The submission eloquently mirrored what Iannicelli said rather succinctly. “Learn, budget and save.” Individuals who do that are taking responsibility and are being empowered.
“My point here is that there exists in Canada a serious financial literacy deficit,” said Iannicelli. “Canadians do not generally understand how to manage their financial situation, or they don’t want to.” He said it was a growing social issue and needed to be addressed.
He brought focus on another key component of financial responsibility: retirement planning. “Saving for the future is an important issue and we need to act – now.”
He asked government to do more to educate and motivate Canadians to think about retirement planning. “May be governments should even consider a scare campaign to get Canadians’ attention. It’s that serious,” he said.
Iannicelli offered strong views on pension programmes. “(Private sector) could do (pension planning) that is more efficient (than government-run plans), because that’s what we do.”
He assured those concerned about the cost of private pension plans that the competition will drive cost down and increase value to the consumer. “That’s our business. If we don’t do it well and (in a) cost-efficient (manner), we won’t sell anything,” said Iannicelli.
Government, he said, should leave pension planning to private players.
“It’s not their business. I have a real difficult time understanding how they can do nearly as good (a job) as the private sector.”
Iannicelli suggested the sooner this education starts the better. He stressed the need for the inclusion of financial education as a vital part of school curriculum. “Sex education is (imparted) at grade six or seven now, why can’t financial literacy be on there too. It is critical,” said Iannicelli.
The idea of shaping financial behaviour in youth has found resonance in the Financial Planning Standards Council (FPSC), a not for profit organization dedicated to Canadians’ financial planning needs.
“FPSC supports the advancement of financial literacy for all Canadians,” said Cary List, president and CEO, FPSC. “The past year underscored that the status quo is insufficient in ensuring the economic, financial and social well-being of individuals and of our country,” he said.
FPSC recommended the need to go beyond increasing knowledge to focusing on behavioural change. Some of the submission highlights include:
The submission eloquently mirrored what Iannicelli said rather succinctly. “Learn, budget and save.” Individuals who do that are taking responsibility and are being empowered.
“My point here is that there exists in Canada a serious financial literacy deficit,” said Iannicelli. “Canadians do not generally understand how to manage their financial situation, or they don’t want to.” He said it was a growing social issue and needed to be addressed.
He brought focus on another key component of financial responsibility: retirement planning. “Saving for the future is an important issue and we need to act – now.”
He asked government to do more to educate and motivate Canadians to think about retirement planning. “May be governments should even consider a scare campaign to get Canadians’ attention. It’s that serious,” he said.
Iannicelli offered strong views on pension programmes. “(Private sector) could do (pension planning) that is more efficient (than government-run plans), because that’s what we do.”
He assured those concerned about the cost of private pension plans that the competition will drive cost down and increase value to the consumer. “That’s our business. If we don’t do it well and (in a) cost-efficient (manner), we won’t sell anything,” said Iannicelli.
Government, he said, should leave pension planning to private players.
“It’s not their business. I have a real difficult time understanding how they can do nearly as good (a job) as the private sector.”
This, said Iannicelli, is an individual responsibility and that individuals need to govern their financial affairs properly. “And to do this, ( a responsible individual) needs to learn more and invest more time in order to better understand the impact of his or her own spending and savings habits.”
Iannicelli suggested the sooner this education starts the better. He stressed the need for the inclusion of financial education as a vital part of school curriculum. “Sex education is (imparted) at grade six or seven now, why can’t financial literacy be on there too. It is critical,” said Iannicelli.
The idea of shaping financial behaviour in youth has found resonance in the Financial Planning Standards Council (FPSC), a not for profit organization dedicated to Canadians’ financial planning needs.
“FPSC supports the advancement of financial literacy for all Canadians,” said Cary List, president and CEO, FPSC. “The past year underscored that the status quo is insufficient in ensuring the economic, financial and social well-being of individuals and of our country,” he said.
FPSC recommended the need to go beyond increasing knowledge to focusing on behavioural change. Some of the submission highlights include:
The submission eloquently mirrored what Iannicelli said rather succinctly. “Learn, budget and save.” Individuals who do that are taking responsibility and are being empowered.
“My point here is that there exists in Canada a serious financial literacy deficit,” said Iannicelli. “Canadians do not generally understand how to manage their financial situation, or they don’t want to.” He said it was a growing social issue and needed to be addressed.
He brought focus on another key component of financial responsibility: retirement planning. “Saving for the future is an important issue and we need to act – now.”
He asked government to do more to educate and motivate Canadians to think about retirement planning. “May be governments should even consider a scare campaign to get Canadians’ attention. It’s that serious,” he said.
Iannicelli offered strong views on pension programmes. “(Private sector) could do (pension planning) that is more efficient (than government-run plans), because that’s what we do.”
He assured those concerned about the cost of private pension plans that the competition will drive cost down and increase value to the consumer. “That’s our business. If we don’t do it well and (in a) cost-efficient (manner), we won’t sell anything,” said Iannicelli.
Government, he said, should leave pension planning to private players.
“It’s not their business. I have a real difficult time understanding how they can do nearly as good (a job) as the private sector.”
“Canadians have to care more about their financial situation, by budgeting and spending more reasonably, using debt more intelligently, and accumulating savings more diligently.”
This, said Iannicelli, is an individual responsibility and that individuals need to govern their financial affairs properly. “And to do this, ( a responsible individual) needs to learn more and invest more time in order to better understand the impact of his or her own spending and savings habits.”
Iannicelli suggested the sooner this education starts the better. He stressed the need for the inclusion of financial education as a vital part of school curriculum. “Sex education is (imparted) at grade six or seven now, why can’t financial literacy be on there too. It is critical,” said Iannicelli.
The idea of shaping financial behaviour in youth has found resonance in the Financial Planning Standards Council (FPSC), a not for profit organization dedicated to Canadians’ financial planning needs.
“FPSC supports the advancement of financial literacy for all Canadians,” said Cary List, president and CEO, FPSC. “The past year underscored that the status quo is insufficient in ensuring the economic, financial and social well-being of individuals and of our country,” he said.
FPSC recommended the need to go beyond increasing knowledge to focusing on behavioural change. Some of the submission highlights include:
The submission eloquently mirrored what Iannicelli said rather succinctly. “Learn, budget and save.” Individuals who do that are taking responsibility and are being empowered.
“My point here is that there exists in Canada a serious financial literacy deficit,” said Iannicelli. “Canadians do not generally understand how to manage their financial situation, or they don’t want to.” He said it was a growing social issue and needed to be addressed.
He brought focus on another key component of financial responsibility: retirement planning. “Saving for the future is an important issue and we need to act – now.”
He asked government to do more to educate and motivate Canadians to think about retirement planning. “May be governments should even consider a scare campaign to get Canadians’ attention. It’s that serious,” he said.
Iannicelli offered strong views on pension programmes. “(Private sector) could do (pension planning) that is more efficient (than government-run plans), because that’s what we do.”
He assured those concerned about the cost of private pension plans that the competition will drive cost down and increase value to the consumer. “That’s our business. If we don’t do it well and (in a) cost-efficient (manner), we won’t sell anything,” said Iannicelli.
Government, he said, should leave pension planning to private players.
“It’s not their business. I have a real difficult time understanding how they can do nearly as good (a job) as the private sector.”
Governments and financial industry have not educated consumers, he said. But Canadians also have themselves to blame, they must overcome their paralysis, he added.
“Canadians have to care more about their financial situation, by budgeting and spending more reasonably, using debt more intelligently, and accumulating savings more diligently.”
This, said Iannicelli, is an individual responsibility and that individuals need to govern their financial affairs properly. “And to do this, ( a responsible individual) needs to learn more and invest more time in order to better understand the impact of his or her own spending and savings habits.”
Iannicelli suggested the sooner this education starts the better. He stressed the need for the inclusion of financial education as a vital part of school curriculum. “Sex education is (imparted) at grade six or seven now, why can’t financial literacy be on there too. It is critical,” said Iannicelli.
The idea of shaping financial behaviour in youth has found resonance in the Financial Planning Standards Council (FPSC), a not for profit organization dedicated to Canadians’ financial planning needs.
“FPSC supports the advancement of financial literacy for all Canadians,” said Cary List, president and CEO, FPSC. “The past year underscored that the status quo is insufficient in ensuring the economic, financial and social well-being of individuals and of our country,” he said.
FPSC recommended the need to go beyond increasing knowledge to focusing on behavioural change. Some of the submission highlights include:
The submission eloquently mirrored what Iannicelli said rather succinctly. “Learn, budget and save.” Individuals who do that are taking responsibility and are being empowered.
“My point here is that there exists in Canada a serious financial literacy deficit,” said Iannicelli. “Canadians do not generally understand how to manage their financial situation, or they don’t want to.” He said it was a growing social issue and needed to be addressed.
He brought focus on another key component of financial responsibility: retirement planning. “Saving for the future is an important issue and we need to act – now.”
He asked government to do more to educate and motivate Canadians to think about retirement planning. “May be governments should even consider a scare campaign to get Canadians’ attention. It’s that serious,” he said.
Iannicelli offered strong views on pension programmes. “(Private sector) could do (pension planning) that is more efficient (than government-run plans), because that’s what we do.”
He assured those concerned about the cost of private pension plans that the competition will drive cost down and increase value to the consumer. “That’s our business. If we don’t do it well and (in a) cost-efficient (manner), we won’t sell anything,” said Iannicelli.
Government, he said, should leave pension planning to private players.
“It’s not their business. I have a real difficult time understanding how they can do nearly as good (a job) as the private sector.”
He urged consumers not to succumb to the charms of debt, or its easy availability.
“Just because someone offers me a credit card or a line of credit, does not mean that I am obliged to accept it, and I am certainly not obliged to use it,” said Iannicelli.
Governments and financial industry have not educated consumers, he said. But Canadians also have themselves to blame, they must overcome their paralysis, he added.
“Canadians have to care more about their financial situation, by budgeting and spending more reasonably, using debt more intelligently, and accumulating savings more diligently.”
This, said Iannicelli, is an individual responsibility and that individuals need to govern their financial affairs properly. “And to do this, ( a responsible individual) needs to learn more and invest more time in order to better understand the impact of his or her own spending and savings habits.”
Iannicelli suggested the sooner this education starts the better. He stressed the need for the inclusion of financial education as a vital part of school curriculum. “Sex education is (imparted) at grade six or seven now, why can’t financial literacy be on there too. It is critical,” said Iannicelli.
The idea of shaping financial behaviour in youth has found resonance in the Financial Planning Standards Council (FPSC), a not for profit organization dedicated to Canadians’ financial planning needs.
“FPSC supports the advancement of financial literacy for all Canadians,” said Cary List, president and CEO, FPSC. “The past year underscored that the status quo is insufficient in ensuring the economic, financial and social well-being of individuals and of our country,” he said.
FPSC recommended the need to go beyond increasing knowledge to focusing on behavioural change. Some of the submission highlights include:
The submission eloquently mirrored what Iannicelli said rather succinctly. “Learn, budget and save.” Individuals who do that are taking responsibility and are being empowered.
“My point here is that there exists in Canada a serious financial literacy deficit,” said Iannicelli. “Canadians do not generally understand how to manage their financial situation, or they don’t want to.” He said it was a growing social issue and needed to be addressed.
He brought focus on another key component of financial responsibility: retirement planning. “Saving for the future is an important issue and we need to act – now.”
He asked government to do more to educate and motivate Canadians to think about retirement planning. “May be governments should even consider a scare campaign to get Canadians’ attention. It’s that serious,” he said.
Iannicelli offered strong views on pension programmes. “(Private sector) could do (pension planning) that is more efficient (than government-run plans), because that’s what we do.”
He assured those concerned about the cost of private pension plans that the competition will drive cost down and increase value to the consumer. “That’s our business. If we don’t do it well and (in a) cost-efficient (manner), we won’t sell anything,” said Iannicelli.
Government, he said, should leave pension planning to private players.
“It’s not their business. I have a real difficult time understanding how they can do nearly as good (a job) as the private sector.”
“Canada’s youth are living beyond their means,” said Joseph Iannicelli, president and CEO, Standard Life, speaking at the Canadian Club of Toronto on Monday. He said “60% Canadians are in debt and a third of them hold more than $10,000 in debt.”
He urged consumers not to succumb to the charms of debt, or its easy availability.
“Just because someone offers me a credit card or a line of credit, does not mean that I am obliged to accept it, and I am certainly not obliged to use it,” said Iannicelli.
Governments and financial industry have not educated consumers, he said. But Canadians also have themselves to blame, they must overcome their paralysis, he added.
“Canadians have to care more about their financial situation, by budgeting and spending more reasonably, using debt more intelligently, and accumulating savings more diligently.”
This, said Iannicelli, is an individual responsibility and that individuals need to govern their financial affairs properly. “And to do this, ( a responsible individual) needs to learn more and invest more time in order to better understand the impact of his or her own spending and savings habits.”
Iannicelli suggested the sooner this education starts the better. He stressed the need for the inclusion of financial education as a vital part of school curriculum. “Sex education is (imparted) at grade six or seven now, why can’t financial literacy be on there too. It is critical,” said Iannicelli.
The idea of shaping financial behaviour in youth has found resonance in the Financial Planning Standards Council (FPSC), a not for profit organization dedicated to Canadians’ financial planning needs.
“FPSC supports the advancement of financial literacy for all Canadians,” said Cary List, president and CEO, FPSC. “The past year underscored that the status quo is insufficient in ensuring the economic, financial and social well-being of individuals and of our country,” he said.
FPSC recommended the need to go beyond increasing knowledge to focusing on behavioural change. Some of the submission highlights include:
The submission eloquently mirrored what Iannicelli said rather succinctly. “Learn, budget and save.” Individuals who do that are taking responsibility and are being empowered.
“My point here is that there exists in Canada a serious financial literacy deficit,” said Iannicelli. “Canadians do not generally understand how to manage their financial situation, or they don’t want to.” He said it was a growing social issue and needed to be addressed.
He brought focus on another key component of financial responsibility: retirement planning. “Saving for the future is an important issue and we need to act – now.”
He asked government to do more to educate and motivate Canadians to think about retirement planning. “May be governments should even consider a scare campaign to get Canadians’ attention. It’s that serious,” he said.
Iannicelli offered strong views on pension programmes. “(Private sector) could do (pension planning) that is more efficient (than government-run plans), because that’s what we do.”
He assured those concerned about the cost of private pension plans that the competition will drive cost down and increase value to the consumer. “That’s our business. If we don’t do it well and (in a) cost-efficient (manner), we won’t sell anything,” said Iannicelli.
Government, he said, should leave pension planning to private players.
“It’s not their business. I have a real difficult time understanding how they can do nearly as good (a job) as the private sector.”
Next time you feel the urge to buy that expensive gadget you don’t need, desist. Next time you are tempted by the prospect of a luxury cruise you can ill-afford, resist. It is the practice of self-restraint that will help Canadians beat the tricky debt trap that has ensnared well over half the nation’s population.
“Canada’s youth are living beyond their means,” said Joseph Iannicelli, president and CEO, Standard Life, speaking at the Canadian Club of Toronto on Monday. He said “60% Canadians are in debt and a third of them hold more than $10,000 in debt.”
He urged consumers not to succumb to the charms of debt, or its easy availability.
“Just because someone offers me a credit card or a line of credit, does not mean that I am obliged to accept it, and I am certainly not obliged to use it,” said Iannicelli.
Governments and financial industry have not educated consumers, he said. But Canadians also have themselves to blame, they must overcome their paralysis, he added.
“Canadians have to care more about their financial situation, by budgeting and spending more reasonably, using debt more intelligently, and accumulating savings more diligently.”
This, said Iannicelli, is an individual responsibility and that individuals need to govern their financial affairs properly. “And to do this, ( a responsible individual) needs to learn more and invest more time in order to better understand the impact of his or her own spending and savings habits.”
Iannicelli suggested the sooner this education starts the better. He stressed the need for the inclusion of financial education as a vital part of school curriculum. “Sex education is (imparted) at grade six or seven now, why can’t financial literacy be on there too. It is critical,” said Iannicelli.
The idea of shaping financial behaviour in youth has found resonance in the Financial Planning Standards Council (FPSC), a not for profit organization dedicated to Canadians’ financial planning needs.
“FPSC supports the advancement of financial literacy for all Canadians,” said Cary List, president and CEO, FPSC. “The past year underscored that the status quo is insufficient in ensuring the economic, financial and social well-being of individuals and of our country,” he said.
FPSC recommended the need to go beyond increasing knowledge to focusing on behavioural change. Some of the submission highlights include:
The submission eloquently mirrored what Iannicelli said rather succinctly. “Learn, budget and save.” Individuals who do that are taking responsibility and are being empowered.
“My point here is that there exists in Canada a serious financial literacy deficit,” said Iannicelli. “Canadians do not generally understand how to manage their financial situation, or they don’t want to.” He said it was a growing social issue and needed to be addressed.
He brought focus on another key component of financial responsibility: retirement planning. “Saving for the future is an important issue and we need to act – now.”
He asked government to do more to educate and motivate Canadians to think about retirement planning. “May be governments should even consider a scare campaign to get Canadians’ attention. It’s that serious,” he said.
Iannicelli offered strong views on pension programmes. “(Private sector) could do (pension planning) that is more efficient (than government-run plans), because that’s what we do.”
He assured those concerned about the cost of private pension plans that the competition will drive cost down and increase value to the consumer. “That’s our business. If we don’t do it well and (in a) cost-efficient (manner), we won’t sell anything,” said Iannicelli.
Government, he said, should leave pension planning to private players.
“It’s not their business. I have a real difficult time understanding how they can do nearly as good (a job) as the private sector.”
Next time you feel the urge to buy that expensive gadget you don’t need, desist. Next time you are tempted by the prospect of a luxury cruise you can ill-afford, resist. It is the practice of self-restraint that will help Canadians beat the tricky debt trap that has ensnared well over half the nation’s population.
“Canada’s youth are living beyond their means,” said Joseph Iannicelli, president and CEO, Standard Life, speaking at the Canadian Club of Toronto on Monday. He said “60% Canadians are in debt and a third of them hold more than $10,000 in debt.”
He urged consumers not to succumb to the charms of debt, or its easy availability.
“Just because someone offers me a credit card or a line of credit, does not mean that I am obliged to accept it, and I am certainly not obliged to use it,” said Iannicelli.
Governments and financial industry have not educated consumers, he said. But Canadians also have themselves to blame, they must overcome their paralysis, he added.
“Canadians have to care more about their financial situation, by budgeting and spending more reasonably, using debt more intelligently, and accumulating savings more diligently.”
This, said Iannicelli, is an individual responsibility and that individuals need to govern their financial affairs properly. “And to do this, ( a responsible individual) needs to learn more and invest more time in order to better understand the impact of his or her own spending and savings habits.”
Iannicelli suggested the sooner this education starts the better. He stressed the need for the inclusion of financial education as a vital part of school curriculum. “Sex education is (imparted) at grade six or seven now, why can’t financial literacy be on there too. It is critical,” said Iannicelli.
The idea of shaping financial behaviour in youth has found resonance in the Financial Planning Standards Council (FPSC), a not for profit organization dedicated to Canadians’ financial planning needs.
“FPSC supports the advancement of financial literacy for all Canadians,” said Cary List, president and CEO, FPSC. “The past year underscored that the status quo is insufficient in ensuring the economic, financial and social well-being of individuals and of our country,” he said.
FPSC recommended the need to go beyond increasing knowledge to focusing on behavioural change. Some of the submission highlights include:
The submission eloquently mirrored what Iannicelli said rather succinctly. “Learn, budget and save.” Individuals who do that are taking responsibility and are being empowered.
“My point here is that there exists in Canada a serious financial literacy deficit,” said Iannicelli. “Canadians do not generally understand how to manage their financial situation, or they don’t want to.” He said it was a growing social issue and needed to be addressed.
He brought focus on another key component of financial responsibility: retirement planning. “Saving for the future is an important issue and we need to act – now.”
He asked government to do more to educate and motivate Canadians to think about retirement planning. “May be governments should even consider a scare campaign to get Canadians’ attention. It’s that serious,” he said.
Iannicelli offered strong views on pension programmes. “(Private sector) could do (pension planning) that is more efficient (than government-run plans), because that’s what we do.”
He assured those concerned about the cost of private pension plans that the competition will drive cost down and increase value to the consumer. “That’s our business. If we don’t do it well and (in a) cost-efficient (manner), we won’t sell anything,” said Iannicelli.
Government, he said, should leave pension planning to private players.
“It’s not their business. I have a real difficult time understanding how they can do nearly as good (a job) as the private sector.”
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