Tuesday, July 25, 2017

This Court cases teaches investors many lessons

We urge investors to read this judicial decision . It has a number of lessons that can help ordinary Canadians prevent a lot of problems.

Here are a few:

  • Contact the applicable regulator to check on the background of your advisor
  • Understand that advisors are not required to act in your Best interests
  • Understand that many advisors are paid by sales commissions
  • When filling in forms, be modest about your investment knowledge , risk tolerance  investment experience and financial position. Never leave any block blank.
  • Retain a signed  and dated copy of your account application form ( KYC )
  • Place orders to buy and sell carefully and ensure trade confirmation slip matches your instructions. If not, contact the dealer immediately
  • If not happy with action /explanation, file a formal complaint without delay
  • Provide  KYC updates  to dealer when your personal situation changes
To review the case click here 

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