Increased transparency under Total Cost Reporting could create new opportunities for advisors

April 8, 2026 – Equitable^® says clearer cost disclosures can reduce misinformation, build trust and support strong conversations between advisors and clients. As Total Cost Reporting (TCR) approaches, Canadians will receive clearer information about the fees they pay on their investments. While these changes are driven by regulatory requirements, Equitable says they can also help clients better understand and discuss their finances.

“Cost transparency changes how advisor-client conversations begin,” said Cam Crosbie, Executive Vice-President, Individual Wealth, Equitable. “When advisors take a proactive approach to cost discussions, it can amplify value for clients, shifting conversations from price alone to goals, strategy, and long-term outcomes.”

The company says that when costs are easier to interpret, clients are more likely to review information, ask informed questions, and engage in longer-term planning discussions. This creates opportunities for advisors to guide clients through meaningful financial conversations.

Research published in 2023 in the journal PLOS ONE also found that higher financial literacy is linked to more positive financial habits, including better day-to-day money management and greater progress toward long-term goals. This reinforces the value of helping clients clearly understand their costs, as clear information helps clients feel more confident making decisions about their savings and retirement goals.

To support this shift, the company is developing advisor-ready materials designed to support conversations leading up to TCR. This includes a dedicated TCR Hub on EquiNet, Equitable’s advisor platform, which brings together tools, guides and client-facing resources to help advisors prepare for conversations.

“We believe one of the best investments Canadians can make is in professional advice,” Crosbie said. “Our focus is helping advisors feel ready to respond to client questions by providing practical tools, education and resources that reinforce their value.”

As the industry prepares for TCR, Equitable says the changes represent an important step toward improving financial understanding amongst Canadians and strengthening relationships.

For more information, visit the Total Cost Reporting Resource Hub.