From the Ombudsman's desk • OBSI-AMF Communiqué • Proposed new statistical reporting • Case Study- Suitability • OBSI Outreach
The clients, a married couple in their early 50s, received a $650,000 settlement from a car accident which permanently disabled the husband. They consulted with an investment advisor about how to invest the money.
From the Ombudsman’s desk • Case Study: Credit Card Fraud • Serving a diverse population
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. The advisor told him that he could transfer the pension to a locked-in retirement account (LIRA) and helped him complete the transfer documents.
The client was a sophisticated investor, and recently started dealing with a new advisor and a new firm. Her investment objectives were 100% capital gain and she had a medium to high tolerance for risk. She also had a high level of investment knowledge and experience.
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