Power of Attorney and Trusted Contact Person: Financial Advisor Essentials
By AGF Management Limited
Gain a better understanding of these two key roles that affect clients.
Encouraging your client to name a power of attorney (PoA) for property and a trusted contact person (TCP) promotes effective estate management and mitigates financial exploitation, respectively.
In this video, Michael Kulbak of Kulbak Trust Solutions explains the two roles’ requirements and functions, compares the roles, and presents real-life examples that illustrate the roles’ impact on clients’ finances. Along the way, he offers practical tips so financial advisors can help clients name PoAs and TCPs and ensure the roles are performed effectively.
After taking this course, you’ll know:
- the terminology related to PoAs and the types of PoA for property
- the reasons — obvious and not — to establish a PoA for property
- who can/can’t act as an attorney under a PoA for property
- what the attorney can/can’t do, and their fiduciary duties
- how an attorney under a PoA for property is terminated
- the role of a TCP, and who can/can’t be a TCP
- what the TCP can/can’t do, and the benefits to you and your client
- the benefits/risks of PoAs versus TCPs, and tips to make the most of each role
Accreditation Details
Accreditation body
Competency
Credits
The Institute
Practice Management
--
Financial Planning
1.00
Product Knowledge
--
ICM
General Insurance
--
Life Insurance
1.00
Adjuster
--
FP Canada
Financial Planning
1.00
Practice Management
--
Product Knowledge Credits
--
Professional Responsibility Credits
--
CSF
General subject
1.00
Courtage en épargne collective
--
Assurance de personnes
--
Insurance of persons
--
Matières générales
--
MFDA
Professional Development
1.00
Business Conduct
--
IIROC Cycle 9
Compliance
--
Professional Development
1.00
Alberta Accreditation Committee
Life Insurance
1.00
Insurance Council of BC
Accident and Sickness
--
General Insurance
--
Life Insurance
1.00
Course Type:
Video
Passing Grade:
9/12 (75%)
