What to watch out for in virtual meetings with clients as its popularity continues

Advisors will need to use their judgment on issues such as undue influence from others during a remote call

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Karen McGuinness, senior vice-president, mutual fund dealer member regulation, membership intake and innovation, at the New Self-Regulatory Organization of Canada in Toronto, says while there are pros and cons to any medium, advisors will need to use their judgment on issues such as undue influence from others during a remote call.

Having a trusted contact person can help in situations in which an advisor suspects a client’s cognitive abilities have declined, Ms. McGuinness notes. It’s a complex issue, and there may not be a particular point at which it becomes clear a client is beginning to struggle. The convenience of virtual meetings – which include avoiding travel time, costs and offering greater flexibility in scheduling – has been a welcome change for clients.

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