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
In the opinion of CE Corner, the content of this session aligns with FSRA’s requirements for Life and Accident & Sickness credits. However, it remains the responsibility of the individual license holder to check FSRA credits and confirm suitability.
Accreditation Details
Accreditation body
Competency
Credits
The Institute/IAFE
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
--
Professional Responsibility
--
CSF
General Subject
1.00
Courtage en épargne collective
--
Assurance de personnes
--
Insurance of persons
--
Matières générales
--
Alberta Insurance Council
Life Insurance
1.00
ICBC
Accident and Sickness
--
General Insurance
--
Life Insurance
1.00
FSRA
Life and/or A&S
1.00
MFDA (2023-2025)
Business Conduct - Ethics
--
Business Conduct - Non-Ethics
--
Professional Development
1.00
CIRO Cycle 10
Professional Development
1.00
Compliance
--
Course Type:
Video
Passing Grade:
9/12 (75%)
