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Continuing Education → Compliance

Vulnerable Clients (LCI59C2)


Description

Diminishing capacity and financial exploitation of seniors has become a top priority among regulators of the financial services industry. Learnedly's course, Vulnerable Clients, was created to help support the financial services industry and protect vulnerable investors.

FP Canada Accreditation: 2.0 Practice Management Credits



This CE activity has been approved by FP Canada as meeting the minimum requirements for CE Approval as outlined within the FP Canada Continuing Education Guidelines. The views and opinions expressed in this presentation are those of the presenter / content author and do not necessarily reflect the views of FP Canada.

CE Credits: 2.0 Accreditation Number: 6307 CE Credit Type: Compliance

Content
  • Royale Klimitz
  • Introduction (2:42)
  • Vulnerable Clients Intro Quiz
  • Old Age and the Decline in Financial Literacy (1:53)
  • Demographic Shift in Canada (2:57)
  • The Wealth Transfer (3:03)
  • Financial Concerns with Aging (2:50)
  • Who are Vulnerable People? (3:50)
  • Challenges Dealing with Vulnerable Clients (2:51)
  • Normal Cognitive Aging (2:21)
  • Cognitive Impairment and Dementia (2:36)
  • Warning Signs of Dementia (1:42)
  • Understanding Elder Abuse (3:42)
  • Elder Financial Abuse (6:05)
  • Scams Targeting Seniors (4:32)
  • Case: Kathleen (1:49)
  • Penalties and Enforcement (1:48)
  • Regulatory Requirements for Advisors (1:36)
  • Regulatory Requirements for All Advisors (1:11)
  • Suitability (2:23)
  • Know Your Client (KYC) (3:00)
  • Know Your Product (KYP) (2:44)
  • Regulatory Changes for Advisors (0:58)
  • Communicating With Your Clients (1:15)
  • Good Communication Practices for Senior Clients (1:59)
  • Handling Complaints (0:51)
  • Regulatory Expectations (1:08)
  • Important Client Documents (0:33)
  • Power of Attorney (POA) (1:51)
  • Spotting and Preventing POA Abuse (1:54)
  • Trusted Contact Person (TPC) (2:41)
  • Temporary Holds on Client Disbursements (2:24)
  • Understanding Capacity (2:06)
  • Evaluating Capacity (4:10)
  • Taking Steps if Incapacity or Abuse is Suspected (2:05)
  • Firm-level Measures to Protect Senior Clients (2:38)
  • Implementing an Escalation Process (2:11)
  • Conclusion (2:00)
  • Vulnerable Clients Final Test
Completion rules
  • All units must be completed
  • Leads to a certification with a duration: Forever