Advocis

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Advocis
Listening First

• Professional Conduct Committee
• Above All - Integrity
• Toronto Chapter

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Committee Members

• Shawn M. Smith, Director
• Lisa Bower
• Heather Courneya, CFP, CLU, CHFC
• Tina M. Gallant
• Keith Gouveia
• Marisa Liut, CLU
• Frank Sobrinho, CLU, FLMI
• Deborah Veska
• Noel Mak

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Purpose

• We have two mandates
• Education of our membership
• Investigation of complaints lodged against our
  members by the public, by non-members or fellow
  members of Advocis

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WHAT HAS CHANGED?

• More Educated Public - greater awareness
• More Demanding Consumer
• Higher Expectations of Financial Advisors
• Technology Dominating Our World
• Increased Competition
• Enhanced products

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There are 4 Partners in Every Sale Made

• The Client
• The Advisor
• The Company Represented
• The Regulators

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The Client

• Meeting their needs
• Completing a proper needs analysis
• Providing ongoing service

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The Advisor

• Know the Client - be prepared
• Professional Development
• Credibility

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The Company

• Know the history
• Know the products

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The Regulators

• Know the Rules
• Proper Holding Out
• Maintaining Books Records

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CPC Principles

• Integrity
• Competence
• Diligence
• Confidentiality
• Meet a clients best interests
• Disclose any conflict of interest
• Reflect positively on all other Advocis Members
• Respect and protect privacy
• Respect spirit and letter of the law

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Steps to Follow

• Ensure You are Qualified to provide the advice
  you give
• Always keep the Clients interest in mind
• Do proper needs analysis (KYC)
• Keep proper books and records
• Do what is Right

(8)
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Disciplinary Procedures

• Provide a fair and equitable process for
  determining the facts relating to conduct that
  does not comply with the Code
• Ensure that appropriate sanctions are applied

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Scope of an Investigation

• The Advocis disciplinary process
• is intended to resolve
• Member-to-Member disputes
• Non-member-to-Member disputes
• Client-to-Member disputes

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Disciplinary Process
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Range of Sanctions

• Private written censure
• Public written censure
• Education Requirement
• Suspension of Advocis membership
• Expulsion from membership
• Report to regulatory authorities
• Hearing costs
• Additional monetary fine
• Other penalties as deemed appropriate

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Above All - Integrity