Canada’s wealth management industry is standing at a critical crossroads as it adapts to evolving regulations and shifting client expectations around investment suitability. The sector faces a key question: will suitability remain a checkbox, or will it evolve into a genuine driver of client value?
Ortec Finance, global provider of technology and solutions for risk and return management, recently released a whitepaper looking at the evolving investment suitability in Canada.
The introduction of CRM3 and Total Cost Reporting across Canada has intensified the demand for transparency, stronger KYC/KYP practices, and advanced risk profiling, it said. For firms looking to deliver compliant, client-focused advice, navigating these requirements while ensuring operational efficiency has become a top industry priority.
A new independent study by Canada’s Financial Wellness Lab (FWL) and Ortec Finance sheds light on how Canadian wealth firms are tackling these challenges. The report examined the practices of 20 investment firms, revealing a clear shift away from fragmented, manual processes towards more holistic, personalised, and digitally enabled suitability frameworks.
The report explores how firms are integrating risk profiling and financial planning, the future household-level risk assessment in Canada and practical steps to reduce manual effort and improve efficiency. It also covers opportunities to align investor goals with compliance requirements.
Canada’s Financial Wellness Lab and Ortec Finance will discuss these findings further in a live webinar on July 15, offering wealth firms an opportunity to learn how to transform suitability practices to meet future client and regulatory demands.
Read the full story here.
Read the daily FinTech news
Copyright © 2025 FinTech Global
