DISCLOSURE
At the time of trade BEFORE submitting
What does Suitability mean?
KYC information must complete, up to date. Compare the order to be consistent with existing holdings, risk tolerance, objectives and time horizon,
What do you look for when you are doing KYC?
Home address, work, does occupation make sense to invest? Does level of income make sense? Age? ID
When can you issue cheque payable to a 3rd party from GL 479?
Only for EAP withdrawal. Cx to sign GL 479 receipt and keep in MF compliance binder with copy of draft
What's the process to handle complaints?
refer to BM first; then escalate to regional customer care. Region will escalate to TD MF Customer Support group
What document must you provide for a non-registered account leveraged transaction?
Risk of Borrowing to invest Disclosure
Can you sell your favourite funds?
X
What purpose do you use a halt trade?
1) no application form on file (5 business days)
2) Missing POA form (5 business days)
3) Missing KYC (30 business days)
What happens if fund facts is not printed at time of trade?
Message that it was manually printed/emailed to customer
DAILY DOUBLE!!
Do you have any incentive programs for reps to sell mutual funds?
What incentive do you get for partner referral?
Can you refer to anyone outside of TD?
Can you sell mutual funds from the frontline?
Can you get referrals from outside like social media, personal friends?
No
No
No
NO
No
What's in the fund facts document?
top 10 holdings
investment mix
Sales charge
Who's the fund for?
MER
How do you handle rejected trades?
PISO + Customer must come in to sign new trade
Why is it important to complete a CIP?
To create an accurate profile based on customer needs, objectives, time horizon and risk tolerance
How do you process a post-dated GIC maturity trade instruction?
Lodge message like Internal trf in, but ensure instruction indicates you will call on date of maturity before trade is processed.
Where do you show clients where you can find mutual funds online?
External TD Mutual fund site (TDAM)
DAILY DOUBLE!!!
What are the components of MER?
What other fees are associated with TD mutual funds?
T railing Commission
O perating Expenses
M anagement Fees
Early redemption 2%, transfer out fee
What is the 10% suitability guideline?
Rep must discuss all unsuitable trades with customer prior to processing, if:
1) 10% of the MV will be higher risk; or
2) 10% of growth class exceeds CIP recommended allocation
If customer mentioned they need money for down payment towards a new home, maybe in more than 3 years, what should you do?
Make sure CIP time horizon is explained clearly, and add message regarding home purchase and confirmed timeline with client
Can you have multiple beneficiaries on a registered MF account?
Yes. Fill out Form 595524
What material changes must you report?
Bankruptcy, outside business, name change
What are the 5 things you must disclose for a new account?
1) Declaration of Trust
2) Customer Relationship Agreement
3) Conflict of Interest
4) Privacy Commitment
5) Complaint Handling Procedure
When do you use the manual Transaction maintenance form?
When C3 is down
What documents do you need to open non-personal MF accounts?
AOI
Trading resolution
List of directors/signing officers
DAILY TRIPLE
Share 3 items from any of the last 3 Monthly compliance news letter
Any of the 3 below:
Business Titles
Mutual Funds Continuous Registration
Seniors and Vulnerable Customers
TDIS Disclosure document
Material Changes
What information do you include in a leveraged trade (i.e. RRSP/RESP loan)?
Amount borrowed
Term (repayment date) of the loan
Interest rate of the loan