Skip to main content Skip to footer

Case Studies - Investments

  • Estate planning in a time of crisis leads to miscommunication and wishes not being followed

    In 2014, Mr. M was gravely ill. At the time, most of his assets were held in a sizeable RRIF account, with his three sons designated as beneficiaries. His existing will provided that each of his three adult sons would receive an equal share of his estate outright, but this no longer matched his wishes because he felt that two of his sons were not capable of responsibly managing a sizeable inheritance.

  • Firm acted fairly and reasonably when refusing a request made under a power of attorney

    Mr. D was a terminally ill senior. He had named his daughter, Ms. M, to be a substitute decision maker for him in a POA. In early 2018, she contacted his investment firm and told the firm that her father had requested that she sell his mutual funds.

  • The investment firm should tell the client how to stop management fees when requested

    Mr. P opened a managed account with his investment firm in 2012. He agreed to pay monthly fees. His advisor, Mr. A, carried out various option strategies in his account on his behalf. Options trading is a sophisticated, higher risk investing strategy. 

  • Dealers are responsible for unauthorized off-book transactions but consumers must remain diligent

    Ms. G sold her home in 2015. She had no investment experience. She had recently been introduced to a financial advisor by a mutual friend. Ms. G decided to invest the proceeds of the sale of her home with the advisor’s firm.

  • Understand RESP categories when making withdrawals

    Ms. K had a family RESP for her four children. She began withdrawing from the plan in 2009 as her children started to attend university.

  • Setting up a non-arm’s length mortgage (NALM)

    In late 2014, Mr. and Ms. J inquired about a non-arm’s length mortgage (NALM) at their bank. A NALM is where you lend money from your registered savings plans or locked-in savings plans to yourself as an individual or as a co-borrower with someone who is related by blood or marriage. 

  • How OBSI may compensate for non-financial harm

    Mr. and Ms. S invested in an exempt market fund.  The fund was comprised of a pool of mortgages.  The fund experienced financial and management difficulties.  As a result a large number of investors tried to sell their shares causing the value of the fund to plummet. 

  • Monitoring your RESP Statements

    Mr. and Ms. L set up an RESP for their son with a Scholarship Plan Dealer in 2004. During the winter of 2005 the couple received a Canadian Education Savings Grant (CESG) application from the firm to fill out on behalf of their son.

  • Unsuitable investments did not financially harm investor

    Mrs. P had a Registered Retirement Savings Plan (RRSP) and several other accounts with her investment firm, but was a relatively unsophisticated investor. Her husband, on the other hand, did have a good understanding of investment concepts and strategy, and regularly traded stocks in a self-directed account.

  • Branch manager sold investment products not approved by firm

    OBSI received multiple complaints over a short period about an investment firm and Mr. V, an investment advisor and branch manager. The complainants had no connection to one another other than having Mr. V as their advisor.


This website uses cookies to enhance usability and provide you with a more personal experience. By using this website, you agree to our use of cookies as explained in our Privacy Policy.