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. 

Power of Attorney and Trusted Contact Person: Financial Advisor Essentials

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

--

IIROC Cycle 9

Compliance

--

Professional Development

1.00

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%)

Brought to you by: