The Investment Industry Regulatory Organization of Canada (IIROC) has launched a campaign that aims to help investors and advisors deal with issues that may arise when advisors retire.
IIROC released a video on Thursday that features a retired advisor, John Scott, providing advice for senior investors on issues to consider when selecting a new advisor after an existing advisor retires from the investment industry.
"It's important that investors are supported through the transition to a new advisor and are comfortable asking questions when looking for a new provider of investment advice," says Lucy Becker, vice president, public affairs and member education services, at IIROC, in a statement.
Earlier this week, IIROC launched a webcast for dealers and reps that addresses retirement from the advisor's perspective, including the issues that advisors may face when transitioning out of the business and considerations for their clients.
Scott, owner of Springbrook Consulting, also appears in the IIROC webcast along with Barry LaValley, president of the Retirement Lifestyle Centre.
"We encourage advisors to share this video with their senior clients, and also tune in to our advisor webcast for information that will help them prepare for and manage their own retirement," Becker said.