Welcome to the Senior’s Section of the MFDA Website. Below you will find many useful links setting out information relating to finance and seniors, as well as other useful programs and resources.
If you have a complaint about your mutual fund advisor you can file a complaint to the MFDA by calling 416-361-6332 or toll free at 1-888-466-6332. You can also submit your complaint in writing to firstname.lastname@example.org.
Approximately 30% of all formal disciplinary proceedings taken by our enforcement department involve seniors or other vulnerable groups. The MFDA has processes in place to ensure that complaints from seniors are flagged and prioritized appropriately.
If you are unsure as to how to file a complaint, or are unsure as to whether you have a complaint, please call the MFDA and a staff member will be glad to guide you through the process and can assist you in documenting your complaint if required.
Ombudsman for Banking Services and Investments
The Ombudsman for Banking Services and Investments (“OBSI”) is an organization independent of government, the financial services industry and the MFDA. It investigates unresolved complaints from individuals and small businesses about financial services firms.
OBSI can make a non-binding recommendation that your firm compensate you (up to $350,000) if it determines that you have been treated unfairly, taking into account the criteria of good financial services and business practice, relevant codes of practice or conduct, industry regulation and the law.
After the dealer’s Compliance Department has responded to your complaint, you may contact the Ombudsman for Banking Services and Investments. You may also contact OBSI if the dealer’s Compliance Department has not responded within 90 days of the date you complained. OBSI provides an independent and impartial process for the investigation and resolution of complaints about the provision of financial services to clients. The OBSI process is free of charge and is confidential. OBSI can be contacted by telephone in Toronto at (416) 287-2877, or toll free at 1-888-451-4519, or by e-mail at email@example.com.
Useful Links for Seniors
Federal, Provincial and Terrirorial Government Services
- Seniors B.C.
- Alberta Program and Services for Seniors
- Saskatchewan Programs and Services of Interest to Seniors
- Seniors and Healthy Aging Secretariat (Manitoba)
- Ontario Seniors’ Secretariat
- Quebec Programs and Services for Seniors
- New Brunswick Seniors Resources
- Nova Scotia Department of Seniors
- PEI Seniors’ Secretariat
- Newfoundland & Labrador Seniors’ Resources
- Yukon Seniors’ Services
- Northwest Territories Seniors’ Information Handbook (PDF)
- Canadian Association of Retired Persons
- Canadian Network for the Prevention of Elder Abuse
- Ontario Network for the Prevention of Elder Abuse
- B.C. Centre for Elder Advocacy and Support
- Advocacy Centre for the Elderly
- Serve Our Seniors
General Investor Education Links of Interest to Seniors
- Canadian Securities Administrators
- GetSmarterAboutMoney.ca (Ontario Securities Commission)
- Investing Tips for Seniors – May 2012
- Six Investing Themes for 65–Year–Olds – May 2012
- GICs for Young and Old – March 2012
- Are You a Growth Investor or an Income Investor? – March 2012
- Invest Right (B.C. Securities Commission)
- Everyday Investments (Manitoba Securities Commission)
- Financial and Consumer Services Commission (New Brunswick)
- Investor Resources (Alberta Securities Commission)
- Financial and Consumer Affairs Authority (Government of Saskatchewan)
- BeforeYouInvest.ca (A Guide & Information to Safe Investing )
- North American Securities Administrators Association (NASAA) (USA) – Investor Education Senior Resource Centre
- Securities & Exchange Commission (SEC) (USA) – Guide for Seniors