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Strengthening Financial Confidence in New Brunswickers
Marissa Sollows, Director of Communications and Public Affairs
On May 26th, the Commission introduced Finfo, our new consumer education program designed to deliver experiential financial education at real financial life moments. Finfo was created in direct response to what we hear consistently from New Brunswickers: money choices often come with pressure, uncertainty, and a fear of getting it wrong. Finfo offers a clear, trusted starting point for those moments, grounded in the Commission’s role as a regulator and its commitment to protecting the public interest.
Financial decisions rarely happen in isolation. People make choices about money while starting families, caring for relatives, changing jobs, planning for retirement, or dealing with rising living costs. These moments shape behaviour, confidence, and outcomes more than rote learning about product and service features or market conditions alone.
Financial confidence changes with context. Individuals may understand financial concepts in theory, but their ability to apply this information often diminishes under cognitive load or emotional stress. When decisions are time sensitive, emotionally charged, or feel high risk is also when we are can be at our most vulnerable. Our research suggests that traditional financial education focused only on the transfer of information does not reliably lead to better outcomes in these situations. Knowledge matters, but it does not always translate into action. This has important implications for our work in consumer protection and highlights the need for financial education that supports not only knowledge, but also financial resilience and adaptability.
Shifting toward financial self-confidence
Finfo represents a strategic shift from the traditional financial education approach that explains rules, products and contracts with the expectation that this increased knowledge will lead to improved consumer outcomes. Finfo focuses instead on helping people move from knowing and accessing reliable and trustworthy information to using it when it matters most.
Finfo centers on two connected capabilities that show up in real decision-making:
- Financial Resilience: The ability to absorb economic shocks without losing control or confidence.
- Financial Adaptability: The ability to adjust behaviour over time as circumstances, risks and needs change.
This approach aligns with the Commission’s broader efforts to better integrate education, regulation, and enforcement with observed consumer behaviour, not assumptions about how decisions are made.
Responding to Heightened Consumer Risk
Rising economic pressure has increased the likelihood that consumers will face financial stress at moments when decisions carry higher consequence. In this context, effective consumer education and protection depend on whether people can do more than access information. Outcomes also depend on whether individuals:
- Ask critical questions, even when they feel embarrassed or unsure
- Notice and respond to risk in unfamiliar or stressful situations
- Apply information they already have and adjust behaviour as circumstances change.
Access to trusted, unbiased, regulator backed information plays a critical role in strengthening preventive consumer protection behaviours. Finfo provides an early entry point to help individuals understand their options, recognize risk, and engage more effectively with regulated service providers.
Supporting Effective Market Interactions
Finfo supports both consumers and professionals in our regulated sectors. When consumers are better prepared, interactions can be clearer and more efficient. Finfo aims to
- Improve engagement: Foundational education helps clients to arrive better prepared to engage more meaningfully with professional advisors and service providers
- Reduce friction: Informed clients ask more relevant questions and better understand disclosures and obligations.
- Lower risk: Improved consumer recognition of unlicensed or inappropriate activity supports overall market integrity.
Finfo acts as a shared reference point that supports consistent understanding across the market. This improves communication between consumers and professionals and supports the Commission’s mandate to protect the public interest while maintaining confidence in New Brunswick’s financial system.
Advancing financial well-being through preventative policy
Finfo is more than a program. It represents an evolution of consumer education as a preventive policy tool. By strengthening consumer capability earlier, Finfo complements supervision and enforcement and reduces the likelihood of harm before regulatory intervention is required.
As we continue to refine how we measure financial knowledge, resilience, adaptability and overall well-being, Finfo will evolve to respond to emerging risks and behavioural trends. This evidence-informed approach supports more targeted education, clearer regulatory communications, and improved long term outcomes for both consumers and markets.
Financial confidence is not about having all the answers. It is about feeling able to ask questions, understand risks, and take the next step without feeling overwhelmed. With the launch of Finfo, the Commission is offering a clear, trusted place to start. By helping people prepare for decisions before problems arise, Finfo supports steadier choices, clearer conversations, and better outcomes over time -- ultimately giving New Brunswickers confidence in their financial lives.
