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 in a specific field. 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, or example, within his email’s electronic signature. 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 even required by law. The following section lists the titles that must or may be used by advisors. These titles must be used as is, without modification.
Below are the titles advisors (ou an advisor) must use for each discipline.
| 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, upon 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 the process and conditions of obtaining one of these titles, click here.
Other titles
In insurance and financial planning, an advisor may add another professional title to his name, below the titles related to the distribution of financial products and services, if it meets the following requirements : 1) the additional title must relate to training or a degree related to his business practice and 2) it is not incompatible with said practice and does not cause confusion.
Below are the titles advisors (ou an advisor) may use for each registration category.
| 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 adhere to the title usage rules of the brokerage for which he works.
Forbidden titles
Advisors must exercise caution in the use of their professional titles. Some are prohibited by regulation, and others are forbidden because they contain a qualifier or are misleading.
Here is a non-exhaustive list of "titles" that you cannot use:
- Financial Advisor
- Financial Coordinator
- Private Wealth Manager
- Independent Financial Security Advisor
- Insurance Broker for Canadian Citizens and Residents
- Insurance Specialist
- Mutual Fund Representative in the Province of Quebec
- Financial and Investment Strategy Advisor
- Specialist in Advanced Wealth Management and Estate Planning
Additionally, no qualifier can be used by advisors in their representations. A qualifier is an addition, mention, or adjective based on subjective notions such as "emeritus," "senior," "expert," or "specialist." For example, "accredited financial planner" or "certified financial planner" are prohibited uses.
It is also prohibited for advisors to use a title that is based partially or entirely on their sales volume or generated revenue. This is because any designation, reward, recognition, or seemingly prestigious title associated with the advisor's sales volume or generated revenue could reasonably mislead a client regarding their skills, experience, and qualifications. For example, using the title of "vice president" when the advisor is not part of the management staff and obtains this title solely based on a significant sales volume is prohibited.
