Innovative web portal and Due Diligence section added
November 21, 2006, Toronto, ON – Advocis, The Financial Advisors Association of Canada, launched a new web-based platform with revised and updated content for its industry-leading Best Practices Manual (BPM), today. New features help advisors turn industry codes, standards and ethics into practical and profitable best practices, regardless of practice discipline. The innovative web-based portal allows Advocis members to easily access, search and use the most comprehensive, up-to-date and practical best practices content available.
“Few professionals work in an environment as complex and changing as financial advisors and they are concerned about how to incorporate new industry codes, standards and regulations into their practices,” said Steve Howard, president and CEO of Advocis. “The new Advocis BPM doesn’t simply list rules and regulations, it explains the most efficient and profitable way to meet or exceed them with relevant real-life examples, tools and templates.”
“Advisors are faced with volumes of rules and regulations to read and must figure out how best to incorporate them into their practice. The Advocis BPM helps new advisors navigate this process with confidence and helps experienced advisors ensure their practices are not only compliant but the most profitable,” said Howard.
The new Due Diligence section addresses some of the key fiduciary responsibilities and duties advisors are required to follow and explores how to incorporate them into practice. The additional benefit to the advisor is the development of a compliant business model that better protects against E&O claims.
“Advisors need to grow their practices, stand out from their competition, stay current and operate cost effectively and the Advocis BPM has the practical and profitable solutions that address those needs,” continued Howard. “Financial advisors need tools and strategies to efficiently deliver services to their clients profitably while adhering to the professional and ethical standards demanded by designating bodies and Canadians alike.”
The BPM content is easily launched from a desktop shortcut giving Advocis members access 24/7. The web portal also delivers new and improved forms, work samples and templates that are in an easy-to-use Microsoft Word format.
Advocis, The Financial Advisor Association of Canada, is the oldest and largest voluntary professional membership association of financial advisors. With 12,000 advisors in 48 chapters across Canada, Advocis members provide financial and product advice to millions of Canadians across a variety of distinct areas, including: estate and retirement planning, wealth management, risk management, and tax planning. Members adhere to a strict professional Code of Conduct, subscribe to standards of best practice, meet ongoing continuing education requirements, maintain appropriate levels of professional liability insurance and are committed to putting their client’s interests first. The Association�s website is www.advocis.ca.