Compliance Alert - Updated New Account Forms - Effective January 2018
As previously discussed on the October WebConnect and email follow-up, attached please find our updated New Acocunt Forms (RBC and Direct Business) that include a section for a Trusted Contact Person as required under FINRA Rule 2165. This Rule relates to Financial Exploitation of Specified Adults (Seniors or Mentally/Physically Impaired) that goes into effect on February 5, 2018. I have sent separate emails on this new rule over the past few months. If you have any questions on it, please let me know. The new forms also include the Brokerage vs. Advisory one page informative sheet for clients which should be discussed with them for those that are dually registered with both Investment Planners and IPI Wealth.
The New Account Forms will go into effect as of January 1, 2018. We understand that there may be some outstanding usage of the prior New Account Forms, therefore, you will have until February 2, 2018 for Operations to accept the prior forms. Starting February 5, 2018, the old new account forms that do not include the Trusted Contact Person will be rejected. If you have any questions on this process, please let Michelle Hancock or myself know.
These forms will also be available with LaserApp on or before January 2, 2018. Any questions, as always, please let us know. Thanks, Renee