“The role of the advisor is to do that research and then be able to speak to their client in plain language. If somebody wants an efficient car, it doesn’t always help to explain how the engine works, because it just requires a lot of explanation for them to learn and interpret a lot of different concepts.”
Fidler was one speaker on Demystifying Disclosure: New & Emerging Standards from CSA, CFA & CIFSC, a panel held June 10 during the third RIA Virtual Conference.
“It’s the advisor’s job is to map what is being said to the approaches being used. That’s where the meat is. So whether you call it responsible or sustainable or ESG – I think it’s important to focus on the approaches rather than the title,” said Ian Tam, director of investment research at Morningstar Canada.
“The value that advisors bring is to be able to assess these products in the marketplace and then select products that are most suitable, for what they know their clients need, and then explain it to their clients in the terms their clients can understand,” Fidler said.
Also on the panel was Fate Saghir, senior vice-president and head of sustainability with Mackenzie Investments.
“We mandate all of our investment teams to integrate ESG risk into their investment process. We don’t view ESG risk as something different from inflationary risk or interest rate risk. It has to be part of the same consideration,” Saghir said.
To evaluate ESG funds, clients need meaningful information but in plain language, Fidler said.
“What we are shooting for [with the new disclosure standards] is what I would characterize as a middle layer that gives investors the technical details that they need to determining if a product is right for them,” said Fidler. “Marketing materials are not sufficient because they speak in such broad general terms that they don’t give investors what they need to decide what product is right for them. There are legal materials that already exist, but unfortunately often times they are in legalese and they are hard for investors to interpret.”
The panel was moderated by Melissa Shin, editorial director of Advisor’s Edge and Investment Executive. Disclosure: both publications are media sponsors of the event.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
