Body
Advisors must maintain well-documented client files, with information related to establishing and understanding client relationships, rationale for recommendations and transactions for a specific client. Documents must remain in file for the duration of that client relationship, plus an additional seven years following termination of client relationship.
Types of document
- Transactional documents: sent to HO for processing with official record exist in company level, advisors are not required but may keep working copy for convenience
- Example: Applications, delivery receipts, disclosure, supplemental forms, etc.
- Relationship documents: relate to advisor’s ongoing relationship with client and were not sent to HO, only copy exist in the advisor’s file representing official company record
- Example: Factfinder, need analysis, RightBridge reports, case notes, CRIA Annual Client Contact, incoming / outgoing correspondence, etc.
Compliance approved electronic solution – Advisor360
- File name: Be specific (Ex. Client name, account number, type of document)
- File format: PDF preferred
- Upload file: Client360 – Documents Tab – select a subfolder – drag & drop or click upload
- Create subfolder: Move cursor to one of the folder name – click on 3 dots and select Add Folder to This Household
- Edit / Move / Share / Unshare file: Click 3 dots next to file name
- Remove file: Click 3 dots next to file name – select Archive and check Archive folder – Click 3 dots again and delete
Questions
- Schedule a meeting with our support staffs