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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

Don’t get sued: Choose the right clients

Ask key questions to prospects to screen for good clients

Assistants can be crucial to an advisor’s business

Having an assistant who is smart, knowledgeable and hard working can help keep advisors focused on their clients and on growing their businesses

Don’t make your clients’ problems your own

High-risk investing is not a band-aid solution for clients who have not saved enough for retirement

The “F” word

Providing a “best interest” standard for advisors may not raise the bar

OBSI, for better or for worse

Certain claims are best handled by OBSI; however, if the ombudservice were more balanced, it would result in a process that’s more transparent and fair

The increasing complexities of senior clients with POAs

Advisors and their dealers need to establish protocols to the everyday issues that occur when senior clients have a POA in place

Regulators send clear message to protect senior clients

Here are some of the steps advisors and dealers need to take to ensure they meet the new stringent requirements that are in place

Pass a mystery shopping exercise with flying colours

You need to ensure your first meetings with prospective clients are professional and meet regulators’ requirements, including being transparent about fees

Don’t practise “The Ostrich Phenomenon”

Establishing and following processes is key to staying out of trouble with regulators and your clients

Protect senior clients from their loved ones

Make sure you consider the possibility of fraud when a senior client’s friend or family member approaches you with unusual instructions

Help senior clients identify looming fraudsters

Take leadership in stopping fraud in its tracks and educating your clients about avoiding common sources of fraud

Buying a book of business? Be forewarned!

Advisors looking to buy a book of business have no shortage of options; however, they need to be aware of some key considerations

Advisors need to take their own advice on succession planning

Don’t hesitate in getting your succession plan in motion as the process of selling a book of business can take years from beginning to end

Don’t ignore a great opportunity to grow your business

Serving the financial needs of women entering, or already in, their senior years will become a major source of business as well as a compliance…

Ignore the invisible woman client at your peril

As advisors become more and more aware of the importance of serving women clients, they need to ensure they avoid making some common mistakes

Ignore the dealer’s policy manual at your peril

Although the dealer’s policy manual is long and dull, you need to find the time to read it and remain fresh on the issues

A roadmap for serving senior clients

Here are three tips that you should implement in your practice to reduce the risks related to serving senior clients

Serving senior clients is becoming a more risky endeavour

An experienced litigation lawyer offers four major reasons why complaints from senior clients, and subsequent action from regulators, is becoming more common

The juggling act required with the three changing elements of suitability

Advisors need to keep an eye on the changes taking place among clients, markets and companies so they can make the necessary alterations to clients’…

Financial plans: Understand and manage your risks

Ensure clients understand their obligations in a financial plan and that these are reviewed at regular client meetings

Navigating risk tolerance

Here are five considerations that can help you navigate the very complex issue of client risk tolerance