11.3.5 Working with your financial professional

From: Financial Consumer Agency of Canada

Your relationship with your financial professional is not one-sided. After all, it's your money, and you're in charge.

You can expect a qualified financial professional to:

  • learn about you and your financial situation (financial professionals must use a formal Know Your Client or "KYC" form in many cases)
  • carry out your requests promptly
  • behave ethically and honestly
  • fully disclose all risks and conflicts of interest
  • make personalized recommendations
  • clearly disclose the method of compensation.

You should:

  • have a clear understanding of your values, your goals and your wishes in life—both short- and long-term
  • have clear but realistic expectations about what you want your financial professional to do
  • inform your financial professional of any changes to your personal financial situation in a timely manner.

Take notes of your contacts with your financial professional or other advisors, whether in person or on the phone.

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