Wilson Financial Team

I hope you’re enjoying your summer.

You may notice I’m reaching out to you in a slightly different format today. That’s because we’ve set up a new communication platform for the Wilson Financial Team, and we’ll be using this platform to share insights and news with you going forward. While these posts are intended for our clients, you’re welcome to share them with anyone in your life.

The first topic I’d like to dive into is one that is relevant for every one of our clients, and it’s also of the most sweeping changes we’ve experienced in the industry for some time: CRM3.

What is CRM3?

CRM3 stands for “Client Relationship Model Phase 3,” representing a set of performance and fee disclosure rules set out by the Canadian Securities Administrators (CSA).

In part due to the complexity and breadth of the investment options Canadians today have, it’s not always easy for investors to determine exactly what they’re paying to invest their money. So in recent years, Canadian regulators have been rolling out a multi-phase plan, culminating in CRM3, aimed at more comprehensive fee disclosure for providers and better clarity for clients.

How is this different from CRM2?

You may be familiar with CRM2, the first major stage of this regulatory initiative. When CRM2 was implemented in 2017, many investors across the country were surprised at the various transaction and trailer fees they were being charged, and how these costs were affecting the value of their portfolios.

The reporting required by CRM3 will cover not only these advisory fees, but also the costs embedded in pooled products, like mutual funds, including both management and trading fees.

Along with your investment performance report, your yearly package will include an enhanced Annual Compensation Report and a Product Fee Report with clear breakdowns of these fees and the total dollar-amount cost associated with them.

Altogether, this is known as Total Cost Reporting.

When will I see changes?

While data collection has already begun, you’ll start to see Total Cost Reporting in January, 2027. Annual reports in 2027 will outline both costs and performance for the 2026 calendar year.

What’s next?

CRM3 is designed to help investors better understand the net gains generated by their investment portfolios, so they can focus on growing their wealth efficiently. As a client of the Wilson Financial Team, this is already the driving force behind your portfolio.

So over the coming weeks, we’ll be sharing more insight into the value of investing with the Wilson Financial Team—how we manage costs, how we select investments, and how we help you maximize not just line-item performance, but also what we believe to be the ultimate objective of investing: the overall growth of your net worth.

Reach out to me directly if you have any questions at all.

Jim Wilson, B.Comm., CFP®
Senior Wealth Advisor
jim.wilson@iaprivatewealth.ca | Tel. (289) 644-1476