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Administration Error
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The client had opened a group RESP for each of her two children with a scholarship plan dealer. After a year, she started experiencing administrative problems with the plans...
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Churning
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The client, a novice investor in her 60s, was looking to invest $75,000 of an inheritance she received...
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Deferred Sales Charges
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This elderly client was conservatively and safely invested. And then the investment advisor switched her investments into mutual funds into back-end load – or Deferred Sales Charge (DSC) – funds at the age of 91.
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Disclosure
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An 89-year-old widow was subsidizing her retirement income from her life savings by making monthly withdrawals...
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Disclosure
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Mr. B complained when his RESP dealer firm refused to return the funds he contributed to an RESP account...
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Financial Planning
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The client had worked at a public utility for about 15 years when he changed careers to become a teacher. After leaving his job, the client received a benefit statement for his utility pension, which he sent to his financial advisor...
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High Risk Borrowing
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A globe-trotting couple took a high-risk route to pay for their travels, and ended up paying a high price when the leveraging strategy went into the ditch.
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High Risk Borrowing
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When the client met the advisor, she was 67 years of age, retired and recently divorced. The client could no longer work because of her failing health...
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Investor Responsibility
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While investment advisors have significant responsibilities in a relationship with a client, clients have responsibilities as well – including when signing investment account-opening documents and agreeing on risk tolerances
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Investor Responsibility
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A couple in their sixties first met an advisor at an investment seminar. He arranged a meeting and recommended that they borrow $450,000 to invest. Although uncertain, the clients signed the loan documents...
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