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Keyword: Know your client

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female advisor shaking hands with a young couple

Situations become complicated when couples aren’t on the same page about their goals

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Referral cases more than doubled from 2018 to 2019

two couples having a picnic on the beach

As millennials inherit their parents’ wealth, advisors will need to evolve their business practices

senior couple meets with advisor at home

Getting a contact name early can help advisors manage issues before they arise

tax inspector investigating financial documents through magnifying glass, forensic accounting or financial forensics, inspecting offshore company financial papers, documents and reports.

The SRO issued a report Wednesday analyzing data from its client research project

happy young couple discussing with a financial agent

Updating your clients’ KYC form is both a chance to show clients that you have a sincere interest in helping them meet their goals and is an opportunity to grow your business

senior couple sitting at table with financial advisor

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

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

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

KYC and suitability proposals raise the bar

In part two of a six-part series on targeted regulatory reforms, Dan Richards, CEO, Client Insights, speaks with Lynn McGrade, partner at Borden Ladner Gervais LLP, about the CSA’s proposed changes to know-your-client and suitability that would significantly raise professional standards for advisors.