The Investment Funds Institute of Canada (IFIC) together with its education arm, IFSE Institute, on Thursday announced the launch of a new continuing education course designed to teach advisors about disclosure requirements and obligations under the second phase of the client relationship model (CRM2) reforms.
“This continuing education module will help financial advisors explain the new disclosures so that investors can improve their understanding of their investments, have more meaningful conversations with their advisors and make more informed decisions,” says Joanne De Laurentiis, president and CEO of IFIC, and board chair of IFSE, in a statement.
The course, which uses several tools created by IFIC, includes a sample account statement, explanations of key elements of the account statement, and sample cost and performance reports. The course presents advisor-client conversations on key concepts, such as individual versus fund performance measurement, book cost, suitability, and cost disclosure.
All IFSE students will receive this material automatically when they enroll in an IFSE proficiency course. In addition, the course is available free of charge on a stand-alone basis to the public. The English module is available now; the French version will be released in early February.
“IFSE’s CRM2 module is a tangible example of the investment fund industry’s commitment to effectively implement CRM2,” adds Christina Ashmore, managing director of IFSE Institute.
Over the past 18 months, IFIC has developed a series of tools featuring plain language, simple designs, and clear explanations to deliver a consistent investor experience and that will result in more positive outcomes for investors. IFSE’s CRM2 module builds on these materials and provides another vehicle for advisors to prepare to help their clients benefit from the new rules.
See also: CRM2 Guide 2015: A helpful resource as you prepare for regulatory change