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Advisors need to manage clients’ expectations

Advisors should ensure they communicate consistently with their clients while clients need to keep their expectations in check

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Communication is a two-way street

Advisors and their clients need the tools and resources to close the dangerous communication gap that exists between them

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Steer clear of conflicts of interest

Take these four steps to avoid mistakes that can cost advisors their livelihood

compliance puzzle

How to adhere to the regulations without reading them all

If you can’t read and digest all the rules, make sure to understand the principles behind them

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What’s Age Got to Do with It?

A client’s age has taken on an overly important role when advisors determine suitability of investments for clients

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New enforcement powers have major implications for some advisors

Court enforcement means penalized advisors who have left the industry need a new approach

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How to reduce your business risk substantially

Advisors need to educate themselves about the laws and regulations and monitor themselves to ensure they’re compliant with these rules

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Regulators need improvement

Given the results of the 2018 Regulators’ Report Card, implementing a better approach may lead to a better outcome next year

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You acquired a book of business. What now?

Here are four steps to reduce the inherent risks when taking over another advisor’s business

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Legal help is critical in regulatory interview process

Lawyers may cost money, but they can help you be prepared to protect your licence, livelihood and reputation when speaking with regulators

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Beware of unforgiving and aggressive regulators

Pressures to build your business should not lead advisors to disregard compliance

Entrepreneurial advisors need to find the right balance

There are various reasons why advisors take risks and get into trouble with regulators; here are some key measures you could take to protect yourself

AI cannot replace human advisors

Services such as robo-advisors lack the ability to truly understand clients like financial advisors do

Get on top of potential conflicts of interest

Take the necessary steps to know your clients thoroughly and determine if one family member’s actions could put you in a conflict of interest situation

Be wary of suspicious instructions

Examine every instruction from a client or power of attorney and take the appropriate steps if something doesn’t seem right

Online impersonations put advisors at risk

Resist the temptation to help clients in a way that breaches your legal and regulatory obligations

Demystifying the confusion associated with joint accounts

Advisors have an obligation to inform elderly clients of the many risks with transferring an account to be held jointly to avoid probate fees

Protect your reputation

A reputation takes a lifetime to develop and a split second to lose

Think clearly before responding to compliance inquiries

Take the necessary time, collect the appropriate information, get help if needed and never guess when writing a response to an inquiry of a potential…

How to prepare for an investigation interview

Preparing for an interview with compliance, a regulator or client’s counsel is key because your licence, reputation and livelihood are all at stake

Be prepared when compliance or regulators come a-knocking

Never go into a meeting cold when being interviewed for any compliance infraction

Clearing up the confusion with outside business activities

Steps for advisors and their dealers to avoid OBA infractions

Don’t get sued: The importance of monitoring client changes

Stay on top of your clients’ circumstances by following up with them regularly to inquire about their personal situations

Don’t get sued: The importance of really knowing your clients

Ensuring you collect the necessary client information and having clear communication with clients will reduce your exposure to lawsuits