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Client Relationship Model Phase 2

Beyond the requirements to a strategic approach

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Greater transparency than ever

With the recent regulatory development by the Canadian Securities Administrators (CSA), fiscal year 2015 is expected to be demanding from a cost and resource perspective as companies now face added pressure to disclose more information than ever to investors.

The Client Relationship Model Phase 2 (CRM2) presents a wide-ranging series of reforms aimed at providing investors with transparency around the cost and value of advice from financial advisors. In addition to changes to clients’ financial statements, these measures will have long-term strategic implications for businesses.

When considering an approach to compliance with CRM2, it’s important to look beyond the regulatory mechanics and anticipate the overall impact on the client-advisor experience. If you’re looking to seize the opportunity to re-examine the way you provide financial advice to your clients, it may be wise to consider a proactive approach to the changes CRM2 brings. To achieve this, a dedicated change management strategy will be key in mitigating compliance and reputational risks.