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Disoblige
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Financial Advisor vs. Adviser quote:

What's in a vowel?

A common trick for misleading customers, according to Elford, is the banking industry's use of the term "financial advisor" — spelled with an "o."

He says "advisor" is an unregulated title that anyone can use, whereas the title "adviser" — spelled with an "e" — can only be used if the employee has a fiduciary responsibility to the client.

"Advisors can sell you the third, fourth, fifth or least beneficial product to you," Elford said. "They do that a great deal of the time if it makes them more commissions, or if their bank manager is telling them they need to sell more of the house-brand product."

The Ontario Securities Commission confirms that "adviser" is a legal term under securities law that describes a person or company that is registered to give advice about securities, whereas "advisor" is not.



Anyone knew about this? I learned something new today.

http://www.cbc.ca/news/canada/briti...4044702?cmp=rss

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Old Post 03-29-2017 03:56 PM
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ExtraSlow
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quote:

Holy fuck, I'm one of those assholes who LOVES to look down on people who spell colour Color and things like that, but I had no idea.

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Old Post 03-29-2017 04:16 PM
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Swank
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quote:

Advisors post ads to sell cars that don't actually exist.

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Old Post 03-29-2017 04:28 PM
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Sugarphreak
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quote:

I thought they all changed to Financial "Specialist" because it sounded more prestigious?

Personally, I prefer 'Guru"... more people should use that for a title

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dirtsniffer
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quote:

I deal with a couple engineers with the title 'expert' engineer.

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Originally posted by ExtraSlow
This thread is great, finally we are mixing the regular hate and intolerance with some actual car talk.


Originally posted by Mar
This cannot be for real, nobody's that stupid. I think this guy is just trying to cause shit.

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blownz
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quote:

Very interesting.

I just checked and the group I use with Dominion Securities use the spelling "Advisor".

Someone I know with over 8 figures at each of Dominion Securities, Wood Gundy, and National Bank just checked and all 3 use "Advisor".

I am going to forward the the article to my "advisor" to see what the reply is.

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Sugarphreak
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quote:

Honestly though, I think the Advisor title is more appropriate than Adviser. CBC is just trying to make a story out of nothing here.

I think technically there is no difference between them in grammatical function, however for an actual position title, advisor is more formal than adviser.

For instance:

"Jim is the site Supervisor"

Suggesting an official far reaching title that applies to many

VS

"Jim is my Superviser"

Suggesting a specific title that applies to a single person or group not related to the intended audience of the sentence

Last edited by Sugarphreak on 03-29-2017 at 07:42 PM

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leftwing
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quote:

Originally posted by Sugarphreak
Honestly though, I think the Advisor title is more appropriate than Adviser. CBC is just trying to make a story out of nothing here.

I think technically there is no difference between them in grammatical function, however for an actual position title, advisor is more formal than adviser.

For instance:

"Jim is the site Supervisor"

Suggesting an official far reaching title that applies to many

VS

"Jim is my Superviser"

Suggesting a specific title that applies to a single person or group not related to the intended audience of the sentence



Did you read the article? AdvisEr has a fiduciary duty to clients, AdvisOr has no such duty.

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Old Post 03-30-2017 12:19 AM
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Star1995
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quote:

Originally posted by Sugarphreak
Honestly though, I think the Advisor title is more appropriate than Adviser. CBC is just trying to make a story out of nothing here.

I think technically there is no difference between them in grammatical function, however for an actual position title, advisor is more formal than adviser.

For instance:

"Jim is the site Supervisor"



Suggesting an official far reaching title that applies to many

VS

"Jim is my Superviser"

Suggesting a specific title that applies to a single person or group not related to the intended audience of the sentence



Not sure why you wouldn't just Google before posting a reply. Superviser is spelt wrong (hence the red squiggly line under the word when typing) The correct spelling is Supervisor.

Anyway, I looked at my wife's statement from Manulife and they have Advisors so looks like everyone is doing this. I personally invest with Manulife but I do everything myself. My wife's rate of return was 6.4% last year, mine ranged from 9.7%-29%. As a side note my Crypto Currency investments earned over 300% and if you include the mining that I'm doing it's well over 700% best $3000 I've invested in my life.

Edit; This is just one more reason not to go with the big banks, they will cheat and steal from you every chance they get. People need to start fighting back and start costing the banks money, stick it to the man if you will. Ask yourself, what are you doing to "stick it to the man?" One way is I have a credit card with a bank out of Quebec, I carry a balance of -$1.00 ($1 credit). Since 2009 they have sent me a paper bill every month showing the credit, I get a little chuckle every month when the statement arrives, it must cost them $1 every month to send me this statement. Just one small example of many.

Last edited by Star1995 on 03-30-2017 at 12:56 AM

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Sugarphreak
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quote:

Originally posted by Star1995
Not sure why you wouldn't just Google before posting a reply. Superviser is spelt wrong (hence the red squiggly line under the word when typing) The correct spelling is Supervisor.



Several online sources suggest that it can be spelled both ways, it seems similar enough in context. I am certain there are other examples such as creator and creater.
http://www.thefreedictionary.com/Superviser
https://en.wiktionary.org/wiki/superviser

As far as squiggly lines go, Advisor gets a red squiggly line under it too. So does "spelt" btw

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quote:

Originally posted by leftwing


Did you read the article? AdvisEr has a fiduciary duty to clients, AdvisOr has no such duty.



I did read that, and it sounds like somebody trying to make a fluffy conspiracy story out of nothing.

If I called myself a Professional Engineerer for instance on my business card, APPEGA would come at me like Modelaxis on a pro-spanking blogger.

The main point is that Ontario Securities Commission doesn't regulate titles at all anyway, so the idea that because they spelled Adviser with an "E" instead of an "O" in their legal definitions is meaningless when it comes to liability and duty to their clients.

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Star1995
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quote:

Originally posted by Sugarphreak


Several online sources suggest that it can be spelled both ways, it seems similar enough in context. I am certain there are other examples such as creator and creater.
http://www.thefreedictionary.com/Superviser
https://en.wiktionary.org/wiki/superviser

As far as squiggly lines go, Advisor gets a red squiggly line under it too. So does "spelt" btw



Funny thing is the first link go to supervisor not superviser... The second link suggests to me that it is French, but it appears to be a Wiki page so anyone can submit something, for all I know you could have submitted it. As for the red lines, I'm suggesting that if there is a red line then it could be a word but you're given a heads up that something might be wrong.

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quote:

Originally posted by Sugarphreak


I did read that, and it sounds like somebody trying to make a fluffy conspiracy story out of nothing.

If I called myself a Professional Engineerer for instance on my business card, APPEGA would come at me like Modelaxis on a pro-spanking blogger.

The main point is that Ontario Securities Commission doesn't regulate titles at all anyway, so the idea that because they spelled Adviser with an "E" instead of an "O" in their legal definitions is meaningless when it comes to liability and duty to their clients.



The whole point of the E vs O is the banks are purposely going out of their way to circumvent the regulatory board and trick people into giving up their money to someone.

I don't know why this is legal, perhaps it's in the fine print that nobody reads. I hope to see a class action taken against the banks.

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Sugarphreak
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quote:

Originally posted by Star1995


Funny thing is the first link go to supervisor not superviser... The second link suggests to me that it is French, but it appears to be a Wiki page so anyone can submit something, for all I know you could have submitted it. As for the red lines, I'm suggesting that if there is a red line then it could be a word but you're given a heads up that something might be wrong.



The more I look into this, the more I am starting to think that because French and English are our official languages, and there is some ambiguity around the preferred spelling of certain similar words, that Advisor is the more correct spelling in English than Adviser. Likely the person that originally proofed the legal definitions for the OSC had a french background and messed up.

Some other examples of how English -or words are spelled in french with an -er sound:

executor -> executeur
professor -> professeur
solicitor -> soliciteur
actor -> acteur
director -> directeur
narrator -> narrateur

In terms of a job title, -or words are actually considered as more of a “high class” vocabulary style, which traces back to French orthography

This would support my theory that CBC is just trying to make a story out of nothing... if anything, the banks are spelling it correctly, and the OSC has it wrong.

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quote:

Originally posted by Sugarphreak


The more I look into this, the more I am starting to think that because French and English are our official languages, and there is some ambiguity around the preferred spelling of certain similar words, that Advisor is the more correct spelling in English than Adviser. Likely the person that originally proofed the legal definitions for the OSC had a french background and messed up.

Some other examples of how English -or words are spelled in french with an -er sound:

executor -> executeur
professor -> professeur
solicitor -> soliciteur
actor -> acteur
director -> directeur
narrator -> narrateur

In terms of a job title, -or words are actually considered as more of a “high class” vocabulary style, which traces back to French orthography

This would support my theory that CBC is just trying to make a story out of nothing... if anything, the banks are spelling it correctly, and the OSC has it wrong.



Try again, I just edited the entry. it`s no longer French

http://www.thefreedictionary.com/Superviser

https://en.wiktionary.org/wiki/superviser

https://en.wiktionary.org/wiki/supe...#Sugarphreakese

Sorry I just can`t stop editing this... Don`t believe everyting you read on the internet...

Last edited by Star1995 on 03-30-2017 at 01:49 AM

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Old Post 03-30-2017 01:44 AM
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Sugarphreak
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quote:

Originally posted by Star1995

https://en.wiktionary.org/wiki/supe...#Sugarphreakese

Sorry I just can`t stop editing this... Don`t believe everyting you read on the internet...



haha, this is awesome...

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Old Post 03-30-2017 02:28 AM
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cidley69
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quote:

This difference has been known for a while.

Interesting read:

http://www.moneysense.ca/save/inves...sor-or-adviser/

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quote:

Titles are a crazy thing, to deliberately mislead or to not correct someone is that grey area.

Example: People tend to call me Sir, especially now that I'm older.

Knowing where its derived from I know its not really appropriate, although I don't usually bother to correct them. If someone called me Dr doctor that would be reason for correction.

Although if anyone called me the Chinese classical title of "regent" I wouldn't say no to that either

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quote:

Originally posted by ZenOps
Titles are a crazy thing, to deliberately mislead or to not correct someone is that grey area.

Example: People tend to call me Sir, especially now that I'm older.

Knowing where its derived from I know its not really appropriate, although I don't usually bother to correct them. If someone called me Dr doctor that would be reason for correction.

Although if anyone called me the Chinese classical title of "regent" I wouldn't say no to that either



Sir and regent are completely different from what we are talking about.

I'll give you doctor. The discussion of this thread is around titles that imply a certain level of training. Sir and regent don't.....

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blownz
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quote:

Originally posted by blownz
I am going to forward the the article to my "advisor" to see what the reply is.



So I actually received a call back within an hour.

My investment advisor said that article had gone viral within Dominion Securities and they were preparing a release.

However she did say that the spelling isn't even an option for them. The titles are determined by DS. She said they are required to have and maintain their CFP and to them that is more important than the title. They also have no targets and are not encouraged to sell RBC products. She said they are expected to act in the best interest of their clients.

Now she did point out that at the actual banks this is very true, but at Dominion Securities and Wood Gundy (where she used to be) they don't push bank funds. Her group made all the choices on my funds and only one is an RBC fund.

I personally haven't been with DS for long enough to have a strong opinion regarding their service (less than a year). But so far I have liked the level of advice and involvement from them. I will need a few years to determine if the 1% fee is worth it.

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