Banks, investment firms, insurers, advisers, governments and regulators are all parts of the financial system. Their products, advice, fees and rules affect how much of your money you keep and what you can do with it.
Understanding how this system works—and the interests and incentives within it—helps you recognise what deserves a closer look and how you can improve your own position.
The Gap in the System
Many Canadians already work with capable financial advisors, financial planners and other professionals. But when compensation is tied to financial products or assets under management, commercial incentives can create conflicts of interest that influence recommendations.
That doesn’t mean the advice is flawed—it means the provider may have a financial stake in the outcome. Objective and independent perspectives become essential in assessing whether the advice, services and costs you receive are working in your best interests.
This Is Where Wealth Literacy Comes In
While Financial Literacy focuses on managing money, saving and investing, Wealth Literacy examines the broader financial system—including its incentives, costs and how it affects your wealth.
Understanding these influences helps you recognize potential blind spots, evaluate advice more critically and make better-informed decisions.
Explore Wealth Literacy →
When an Independent Perspective Can Help
Knowledge helps you ask the right questions, but some financial decisions deserve an independent second set of eyes.
That’s where the proposed Wealth Advocate role comes in—an independent professional on your side of the table, providing objective judgment across your broader financial picture, with no products to sell or assets to manage.
What Is a Wealth Advocate? →
