Vulnerable Investors
In 2014, IFIC created a multi-stakeholder task force to identify and help the industry address issues relating to vulnerable investors, especially those experiencing cognitive decline. The work of the task force includes researching and compiling existing best practices for advisors and firms when working with seniors and other potentially vulnerable investors and developing practical materials that help advisors to better identify and manage cognitive impairment in clients.
The industry sees this as a ‘neighbourhood issue’ and is working collaboratively with regulators and investor advocates to develop tools to support advisors and to create a resource centre for those willing to share materials.
Documents
2016
Advisor Insights: Meeting the Needs of Investors with Cognitive Decline
This checklist helps advisors prepare for the challenges of working with investors who are experiencing cognitive decline. It provides information about what to watch for when advising these clients, and actions to ensure the advisor and dealer are meeting regulatory and legal obligations. A separate checklist has been developed to guide advisors in identifying and addressing situations where a client might be subjected to financial exploitation.
Advisor Insights: Protecting Investors from Financial Exploitation
This checklist helps advisors prepare for the challenges of working with investors who are experiencing financial exploitation. It will assist advisors in identifying the signs of financial abuse among their older clients, and equip them with high level guidance should they suspect financial exploitation. A separate checklist has been developed to guide advisors in identifying and addressing situations where a client might be experiencing cognitive decline.
2015
2009
This checklist helps advisors prepare for the challenges of working with investors who are experiencing cognitive decline. It provides information about what to watch for when advising these clients, and actions to ensure the advisor and dealer are meeting regulatory and legal obligations. A separate checklist has been developed to guide advisors in identifying and addressing situations where a client might be subjected to financial exploitation.
This checklist helps advisors prepare for the challenges of working with investors who are experiencing financial exploitation. It will assist advisors in identifying the signs of financial abuse among their older clients, and equip them with high level guidance should they suspect financial exploitation. A separate checklist has been developed to guide advisors in identifying and addressing situations where a client might be experiencing cognitive decline.
