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The Voice of Canada’s Investment Funds Industry

News Release

IFIC expands its Vulnerable Investors Resource Centre with new advisor materials on capacity and decision making


July 5, 2018 (Toronto) – The Investment Funds Institute of Canada (IFIC) today announced the launch of additional resources in its online Vulnerable Investors Resource Centre, which is designed to assist advisors and their firms in addressing the unique needs of elderly clients.

The focus of the new materials, which include a video and accompanying presentation, is diminished capacity and decision making. They share insights and best practices to help advisors recognize the signs of cognitive decline in their clients and understand the steps to take to safeguard their clients’ financial security.

“The issue of aging investors and diminished capacity raises challenging legal, regulatory and ethical questions and affects all financial services stakeholders,” said Paul C. Bourque, President and CEO, IFIC. “Our objectives with these new resources are to make advisors more aware of this complex issue and to help them more confidently serve these clients.”

The new video features Dr. Carole Cohen, a geriatric psychiatrist at Sunnybrook Health Sciences Centre.

“As the population ages, financial advisors will interact with more clients who have diminished decision-making capacity,” said Dr. Cohen. “The materials developed by IFIC provide information to guide advisors in thinking about the concept of capacity as they continue to work to improve their interactions with older investors.”

This video is the second in a series of three. It follows last month’s release of a video on dealing with elder abuse. A third video and accompanying materials on elder-friendly practices will be available in mid-July. The video series was developed in collaboration with CARP.

About IFIC

The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada’s savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation.

For more information:

Lisa Hall
Senior Manager, Communications and Public Affairs
The Investment Funds Institute of Canada
lhall@ific.ca
416-309-2317