Adulting is jam-packed with big moments.
You might find yourself looking for a real estate agent, getting a mortgage, choosing insurance, making investments. The list goes on.
Your relationship with the financial professionals in each of these categories is based on trust. But how do you know if your trust is well-placed?
PAUSE AND CHECK
That’s where Permission to Pause comes in. It is a financial self-care technique that gives you the space to decide if you are comfortable with your financial professional and the services they are offering.
Make sure your financial professionals are licensed or registered with the Financial and Consumer Services Commission of New Brunswick.
CHECK NOW!
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Buying a house?
Any real estate agent (i.e., the firm or agency) working in New Brunswick needs to be licensed by the Financial and Consumer Services Commission of New Brunswick.
Any real estate salesperson or manager (i.e., the individual assisting you with buying or selling a property) operating in New Brunswick needs to be licensed with the Financial and Consumer Services Commission of New Brunswick.
CHECK NOW.
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Shopping for insurance?
Any adjusting firm or agency (including brokerages) involved in the insurance business in New Brunswick needs to be licensed with the Financial and Consumer Services Commission of New Brunswick.
Any individual insurance adjuster or agent (including brokers) doing business in New Brunswick needs to be licensed with the Financial and Consumer Services Commission of New Brunswick.
Any business that offers insurance products as an add-on to their main product or service (i.e., disability insurance on a loan from a bank, GAP insurance sold at a car dealership, funeral expense insurance, etc.) must be licensed with the Financial and Consumer Services Commission of New Brunswick as a Restricted Insurance Representative.
CHECK NOW.
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Getting a mortgage?
Any mortgage brokerage or administrator (i.e., the firm) operating in New Brunswick needs to be licensed with the Financial and Consumer Services Commission of New Brunswick.
Any mortgage broker or associate (i.e., the individual) working in New Brunswick needs to be licensed with the Financial and Consumer Services Commission of New Brunswick.
CHECK NOW.
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Investing? Trading?
Any individual or firm who is in the business of advising or trading in securities or derivatives in New Brunswick must be registered with the Canadian Securities Administrators (CSA).
Considering crypto?
Only use crypto asset trading platforms that are registered with Canadian securities regulators.
CHECK NOW.
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Got a knock on the door from a salesperson? Did a friend ask you to have a home party to demonstrate products from their side hustle?
Direct Sellers Vendors (i.e., companies) operating in New Brunswick and their salespeople must be licensed with the Financial and Consumer Services Commission of New Brunswick.
CHECK NOW.
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Working with or being contacted by a debt collector?
Debt collection agencies operating in New Brunswick and the individuals who work as debt collectors in New Brunswick must be licensed with the Financial and Consumer Services Commission of New Brunswick.
CHECK NOW.
CONTACT US at consumer.licensing@fcnb.ca
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Considering a payday loan?
Both storefront (i.e., brick and mortar locations) and online payday lenders offering loans to New Brunswickers must be licensed with the Financial and Consumer Services Commission of New Brunswick.
CHECK NOW.
WHY DOES CHECKING MATTER?
Licensing and registration provide a layer of protection to help you avoid financial loss from working with unqualified or fraudulent individuals. The Financial and Consumer Services Commission of New Brunswick will only license individuals who meet certain minimum requirements, which often include education and a criminal background check. Licensing and registration is not just a nice to have - it’s the law. So while there are no guarantees, you can have some peace of mind knowing your service providers are licensed or registered with the Commission.
Carefully reading contracts.
Asking about errors and omissions coverage.
Checking into their firm’s cybersecurity measures.
Getting clear on what fees you’ll be charged.
Understanding industry best practices… and more.
RISKY BUSINESS
There is risk involved with any financial transaction, and a licence or registration is still no guarantee about the quality of service you’ll get from companies or professionals.
What you can do is establish your own best practices for risk management. Permission to Pause is the foundation those practices are built upon. It slows things down, puts you in the driver’s seat, and allows you to take steps you deem necessary before handing over your hard-earned money.
About the Financial and Consumer Services Commission of New Brunswick
The Financial and Consumer Services Commission of New Brunswick is New Brunswick’s financial market authority. We believe in a strong and fair financial marketplace for all.
We achieve this through regulation, guidance, and enforcement. We supervise companies and professionals to ensure they meet standards for knowledge, integrity, and business practices. We also provide New Brunswickers with unbiased and trustworthy information to help them make informed spending and investing decisions.
We aim to achieve a trusted and resilient marketplace where New Brunswickers can participate with confidence.