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The Voice of Canada’s Investment Funds Industry

News Release

IFIC launches video series to help advisors support elderly clients


Toronto, ON – June 25, 2018 – The Investment Funds Institute of Canada (IFIC) has launched a three-part video series to help guide advisors and their firms in addressing the unique needs of their elderly clients.

“Financial advisors have a critical front-line role to play in fostering and protecting the financial wellbeing of aging investors,” said Paul C. Bourque, President and CEO, IFIC. “IFIC developed this series to help frame the issues and support advisors in effectively navigating the advisor-client relationship with older investors.”

The three videos, which cover dealing with elder abuse, capacity and decision-making and elder-friendly practices, were developed in collaboration with CARP.

Laura Tamblyn Watts, CARP’s National Director, Law, Policy & Research, is featured in the first video Dealing with Elder Abuse, which launches today.

“What we know is that financial abuse is one of the most common forms of elder abuse,” said Tamblyn Watts. “Through these efforts with IFIC, we are aiming to raise awareness of this critically important issue and offer practical information and resources to assist advisors in managing these difficult situations.”

The Dealing with Elder Abuse video and accompanying materials share insights to help advisors meet the special needs and concerns of this investor group and how they can become vulnerable to neglect or abuse. Examples include:

  • Types of abuse, such as emotional, physical and financial
  • Red flags and possible signs of elder abuse or neglect
  • How to have a careful and comfortable client conversation to screen for abuse
  • The role of family and other influencers in elder abuse

The second video in the series, which will be available in July, is Capacity and Decision Making. It features Dr. Carole Cohen, a geriatric psychiatrist at Sunnybrook Health Sciences Centre, who explains what capacity means to financial advisors, including warning signs for identifying diminished capacity in their clients.

In the third video, Elder-Friendly Practices, Tamblyn Watts provides practical guidance on best practices advisors can implement to ensure their offices or meeting spaces accommodate the needs of elderly clients.

The videos, which are being posted on IFIC’s website, are accompanied by other practical tools and resources that are intended to complement materials coming from financial services regulators, as well as firm-specific policies and training.

“IFIC is pleased to work with financial services regulators and industry partners to help protect aging investors and help them achieve the best possible investor outcomes,” added Bourque.

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.

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For more information:

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