National Seniors Day 2025 Panel Recap
On October 1st, CARP celebrated National Seniors Day with a hard-hitting conversation about the financial realities facing Canadians of all ages. This year’s theme—Financial Security Across Generations—brought together an intergenerational panel featuring experts from across Canada’s investment and regulatory landscape. The event was hosted at ZoomerHall in Toronto, streamed nationwide, and presented in partnership with The Peak.
Meet the Panelists
- Richard Coffin – CFA, CFP, Investment Analyst & Portfolio Manager at
Watson Di Primio Steel (WDS) Investment Management Ltd.
Creator of the YouTube channel The Plain Bagel, where he helps Canadians think critically about investing. - Ben Felix – MBA, CFA®, CFP®, CIM®, F.PI, Chief Investment Officer & Portfolio Manager at
PWL Capital.
Host of the Common Sense Investing YouTube channel and a leading voice in evidence-based, data-driven financial planning. - Guests from the Ontario Securities Commission (OSC) –
osc.ca
Meera Paleja – Program Head of Research & Behavioural Insights
Matthew Onyeaju – Senior Vice President, Registration, Inspections & Examinations
What We Heard
The OSC’s presentation was alarming! Their findings confirm that a significant share of bank clients continue to receive investment advice not in their best interest. Incentive structures and in-branch sales cultures often put the investor in the back seat—especially older Canadians who rely on their branch and may have modest portfolios or lower financial literacy.
Panelists explained how many everyday investors are channeled into products that serve the bank’s bottom line rather than their personal goals. These are not fringe cases—they are the norm for millions of Canadians who still seek trustworthy advice from the institutions they’ve used for decades.
As Reported in The Globe and Mail
Journalist Clare O’Hara covered CARP’s event and the underlying OSC/CIRO findings, shining national light on how branch-based investors are often limited to bank-owned shelves—constraining choice and compromising outcomes for clients.
Read the Globe and Mail coverage
Why This Matters
- Limited choice: Many in-branch advisors can only offer bank-shelf products, reducing access to better-fit solutions.
- Embedded conflicts: Sales targets and incentives can bias recommendations away from a client’s best interest.
- Disproportionate impact on seniors: Those who rely on branches—and who can least afford mis-steps—are most affected.
What’s Next
Following CARP’s federal pre-budget submission and advocacy on investors’ best interest, we will:
- Educate seniors—many of whom place deep trust in their financial institutions—about what current studies reveal.
- Press regulators and policymakers to act—because when investors are consistently underserved, voluntary change is no longer enough.
Older Canadians cannot afford an indefinite tug-of-war between banks, regulators, and policymakers. CARP’s role is to shine a light—and to ensure seniors’ voices are heard at every level of government.
Watch the Full Event On Demand
Click here to watch the National Seniors Day Panel replay
Posted in Financial Security
