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“There should be some cost savings. I suspect some dealers on the IIROC side may end up paying a bit more and some on the MFDA side might pay less,” he says. “It remains to be seen what their final fee schedule will look like.” “A lot of us are quite enthusiastic for the change as [the new SRO] would allow us to offer more product lines to our customers,” says Mark Kent, president and CEO of Portfolio Strategies Corp. in Calgary.
“Our association’s concerns are mostly around retaining our character,” he explains. “We have the mainstream channels for advice, distribution and financial planning. And we want to be heard in a crowd of a much larger group of firms. There are concerns from all the groups about retaining their access, voice and ability to be heard.”