Advocis formulated a number of strategic initiatives to help their members and their clients respond to industry changes. One of these strategic initiatives is our Best Practices Manual.
The objective of the Advocis Best Practices Manual is to provide financial advisors with a central point of reference for how to conduct various aspects of their practice in a professional manner.
"This BPM is a major milestone for Advocis™ and a significant membership benefit offered by the Association," commented Advocis™ vice-president, professional development Donna Muirhead. "We have been encouraged by the positive response the manual has garnered from regulators, corporate partners, and Advocis™ members. We expect that this manual will have a significant positive industry-wide effect on raising the bar for professional standards and practice measurement."
Roger McMillan, chair of the Advocis™ best practices committee, notes, "The manual is an industry-leading advisor tool kit that walks advisors through a learning process whereby they become familiar with the standards of best practices. Advisors then come to understand the practical application of those standards in their daily business by using the myriad of examples, checklists, templates, and forms provided." Mr. McMillan went on to say, "The manual takes a holistic approach to the advisor-client relationship, effectively elevating it from a transaction-focused relationship to one that focuses on the practical process of advice-giving."
Advocis would like to acknowledge PlanPlus for their contribution to this important initiative, and for sharing in its design.
Rick Johnson, CFP, CLU, CH.F.C.
Director, Practice Advisory Services
™Trade-mark of Canadian Association of Insurance and Financial Advisors carrying on business as Advocis.