Fragmented, growing regulation is raising financial industry costs, pricing many Canadians out of personalized financial advice. This paper analyzes the link between cumulative and uncoordinated regulation and a widened “advice gap” in Canada. The paper recommends a framework that maintains strong consumer protections but also fosters accessibility, scalability, and innovation.

In today’s economy, sound financial advice is a foundational service that helps households build security, resilience, and long-term wealth. Yet in Canada, those who stand to benefit most from professional advice, modest- and middle-income families, often face the highest barriers to accessing it. This interactive report exposes the preventing equitable access to financial advice and the opportunities to close them.