Canadians and Their Money

• How to seek financial advice and choose a qualified professional;• Top questions one should ask when choosing a financial services provider; and• The various professional financial designations/accreditations.The CSA website has a section entitled “Know Your Financial Advisor,” which listsquestions to ask an advisor before working with him or her. The website also includesa link to the National Registration Search to confirm whether an advisor is registered.The Investor Education Fund’s website – www.getsmarteraboutmoney.ca – is anotherexcellent source of similar information.Recommendation 8The Task Force recommends that the Government of Canada, in partnership withstakeholders, provide tools to help Canadians become better informed about the role andbenefits of professional financial advice, as well as how to choose a financial practitioner.Government of Canada ProgramsThe Government of Canada is in an ideal position as a national deliverer ofinformation and services. With countrywide reach and influence, the Governmenthas a ready-made platform of social programs and services that can be used toprovide financial literacy tools to Canadians. We outline ways for doing so in thefollowing pages.“What I see as a role for the federalgovernment is to not do it fromscratch, but to understand what allthe various elements are and try tosupport them in some way whetherit’s through promotion, letting peopleknow what programs are out there… I think the Government of Canadaneeds to lead by example.”– St. John’s Board of TradeFinancial TransfersThe Government of Canada is engaged in monetarytransactions that reach nearly all Canadians. These include:• Annual income tax returns;• Employment Insurance (EI) Benefits;• Old Age Security (OAS) Benefits;• Canada Pension Plan (CPP); and• Universal Child Care Benefits.44TASK FORCE ON FINANCIAL LITERACY – III. Lifelong Learning