What will you learn about?

  • List the minimum information that an advisor must obtain from a client.
  • Collect financial and non-financial data that goes beyond the regulatory and legal minimum to develop a wealth plan.
  • Apply the client discovery process to assess a client’s wealth planning needs.
  • Analyze a net worth plan for a client.
  • Analyze a cash management plan for a client.
  • Outline savings strategies for a client.
  • Differentiate between the various types of credit available.
  • Explain how the Five Cs of Credit are used to evaluate a client’s ability to borrow.
  • Describe the theory of behavioural finance.
  • Explain the benefits of using the principles of behavioural finance with clients.
  • Explain the drawbacks of a traditional risk tolerance questionnaire.
  • Identify cognitive and emotional biases in clients.
  • Incorporate the diagnosis of client biases into strategic asset allocation discussions and decisions.

How will you learn?

CSI’s online learning system helps you meet your study goals. You’ll benefit from:

  • Learning objectives and goals that keep you focused
  • Interactive tools to help you evaluate and apply course material
  • Course updates
  • Assistance from CSI’s academic support specialists

Module and Course Completion

Upon successfully completing each course module (by completing the module’s online quiz), you will earn multi-jurisdictional continuing education (CE) credits as shown in the table below. Thus, you will earn CE credits incrementally as you progress through the course.

Once you complete all modules in this course, you will have completed the full course. You can then download a Notice of Course Completion through your student profile. This notice will remain on your profile as formal confirmation of your course completion.

What is the course syllabus?

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Module 1 – Getting to Know the Clients CIRO CE PD Credits: 3

In this module, we provide a process for getting to know everything necessary about your clients. You will learn the federal legal requirements regarding business conduct and the collection and sharing of client information. We also discuss the account-opening requirements of the regulators. Finally, we explain how to engage in a probing dialogue with clients to collect and document information beyond the minimum required by law.

Topics covered in this module:

  • Information Required by Regulation and Law
  • Going Beyond the Regulatory and Legal Minimum
  • The Client Discovery Process

Module 2 – Assessing the Client’s Financial Situation CIRO CE PD Credits: 2

Once you have collected all necessary financial and non-financial data, you must use that information to assess your clients’ wealth planning needs. In this module, you will learn how to create a budget and savings plan based on a specific client’s net worth and available cash flow. The module explains how to incorporate savings strategies that suit the individual client and funding strategies for any emergencies that might arise, which are necessary components of every financial plan. Finally, we discuss various forms of credit and the steps taken to evaluate a client’s creditworthiness.

Topics covered in this module:

  • Analyzing Personal Financial Statements and Savings Plan
  • Credit Planning

Module 3 – Understanding Behavioural Finance CIRO CE PD Credits: 2

This module takes a closer look at behavioural finance as it applies to a wealth advisor’s role in understanding a client’s risk tolerance. You will learn what behavioural finance is and the role it can play in the relationship between the client and advisor in the pursuit of making better investment decisions. You will also learn about the purpose and limitations of risk tolerance questionnaires. Finally, you will learn about behavioural biases and how to work with them when structuring an asset allocation program.

Topics covered in this module:

  • What Is Behavioural Finance?
  • The Relevance of Behavioural Finance to the Advisor
  • Risk Tolerance Questionnaires and Their Limitation
  • What Are Investor Biases?
  • What Are Investor Personality Types?
  • How an Advisor can Apply Bias Diagnoses When structuring an Asset Allocation Program