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Working with Aging Clients - Best Practices and Compliance Guidance

 

UNDERSTANDING THE NEEDS OF AGING CLIENTS

As the Canadian population ages their financial needs and retirement plans often require adjustments and changes. To gage what needs to be done for elderly clients, financial advisors must be prepared to consider how aging impacts decision-making and learn effective approaches for advising them about their financial and retirement planning.

Additionally, given that a disproportionate number of disciplinary proceedings against advisors in recent years in Canada and the United States involved investors that were 60 years of age or older (“senior investors”), regulators in both countries have made the protection of seniors a strategic priority.

The Working with Aging Clients course focuses on decision-making challenges

The Working with Aging Clients course delves into the psychological, social and neurological changes that occur with aging. Understanding the impact of major health risks is also an essential component, as it helps advisors grasp the nuances of how to effectively help senior clients make final decisions. The course also explores the regulatory landscape, and specifically the heightened examination and enforcement efforts regulators have adopted to ensure that the protection of seniors becomes a strategic priority for member dealers.

The course will appeal to all wealth managers, financial consultants, advisors and planners who want to better serve aging clients. This course will provide financial professionals with knowledge that will better help them understand the special needs of financial planning and seniors.

Who should enrol?

The Working with Aging Clients (WWAC) course is designed for financial professionals who are currently working with elderly and aging clients. This includes wealth managers, financial advisors, investments advisors, investment counsellors and financial planners. This course is also relevant for mutual fund sales reps and life insurance sales agents. It is also recommended for individuals who are subject to compliance and CE requirements for professional development.