As your financial advisor, I strive to work closely with you, according to your comfort level, to help you manage your finances and reach your savings goals. In the context of our advisory relationship, I have an obligation to ensure that I have taken the essential steps to know you as a client. This is referred to as the Know Your Client (KYC) rule, and it has recently been enhanced with the introduction of new regulations referred to as the Client-Focused Reforms project.

In broad terms, KYC incorporates a set of standards to be used by advisors when assessing a client and developing a client’s investor profile.

New KYC requirements provide enhanced client protection

As a client, you are protected by having an advisor who is required to know what investments suit your personal situation. As an advisor, we benefit by knowing what we can and cannot recommend when managing your investment portfolio. KYC is also an ethical requirement with rules to ensure your best interests are always put first in each decision or recommendation.

Further, KYC doesn’t stop at the account-opening stage, as there is also a requirement to keep records up to date. For example, as soon as I become aware of a material change in your circumstances, such as a job or address change, we’ll need to update your KYC.

Investor Profile Questionnaire (IPQ)

One of the best tools for learning and documenting the essential KYC facts about you is the Investor Profile Questionnaire (IPQ). This questionnaire, which may be new to some of you, consists of a series of questions that help us better understand your investment experience, investment time horizon, risk capacity and risk attitude.

Your responses will allow us to have a meaningful discussion about your investment objectives, and this will help me make recommendations that are suitable for you.

The next time we meet to open a new account or update your KYC information, I’ll ask you to fill out the questionnaire (or update your responses if you've already completed it). Then, I’ll work closely with you to ensure you're fully satisfied with your understanding of both the questions and your responses.

If you would like to get started with the questionnaire now, you can access the enhanced client version of the IPQ by logging in to your account and going to the “Tools & Calculators” section of the E-Learning Centre.

After completing the questionnaire, you can submit a copy of the results directly to me, and I will follow up to arrange a meeting.

If you don't have online access, get started now by contacting Investor Services.

You can also access the simple version of the IPQ by clicking below.