Case Studies

Financial advisors are responsible for providing sound investment advice to match the financial needs and goals of their clients.

Before signing a mortgage  agreement, consumers should take the time to read through their mortgage documents.

A few weeks before the maturity date, he met with a mortgage specialist at Bank B and decided to transfer his mortgage to Bank B when it matured.

Everyone is a potential victim of fraud and should take steps to protect themselves and their loved ones. Every day, fraudsters target consumers with elaborate scams that exploit familiar technology such as text and email.

Banks will not restrict a person’s access to their own money and credit until they have the required legal documentation to transfer control to someone else. It is important for everyone, but especially seniors, to plan ahead for how their finances will be taken care of if they need help.

OBSI is committed to conducting impartial investigations and recommending fair outcomes for both firms and consumers. When consumers escalate their complaints to OBSI, firms are obligated to participate in our process in good faith. 

Consumers who open online investing accounts (also known as discount brokerage or “order execution only” accounts) are responsible for reviewing all account agreement terms and conditions, making their own trades, and monitoring their account activity.

In December 2010, Ms. R was 60 years old, had been retired since 2008, and had been divorced for several years. Between 2008 and 2010, her annual income averaged $17,500. She owned her home that was valued at $352,000 and had $100,000 in investable savings. Her investment objective was to generate income from her investment portfolio to supplement her income.

In September 2004, Mr. D returned to school with the intention to complete his studies by April 2005. Like many post-secondary students, Mr. D needed help to pay for his education, and in 2004, he took on both federal and provincial student loans through the Ontario Student Assistance Program (OSAP).

In early 2017, Mr. W returned from his yearly vacation. He was always diligent about checking his account activity. When he went online to review his vacation spending, he noticed three transactions for around $4,000 for cheques that he had not written.