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Advisor Management (Client Organizations)

Advisor Management (Client Organizations)

Jul 15, 2024


VIP Advisors

If you want to restrict employees within your organization from accessing the profiles of certain Advisors, you can flag an Advisor in your population as a VIP. If an employee within your organization does not have the permission to view Advisor with a VIP flag, they will not be able to search for or view the VIP Advisor’s profile. You can manage the permission via the roles that you created – see Roles for more information.

How To – Flag an Advisor as a VIP
  1. Open the Advisor’s profile.
  2. Click the Make Advisor VIP button below the Profile header.
  3. A warning message will appear to ensure the user understands the impact of this action. If you are sure that you wish to make the Advisor a VIP, click Ok.
  4. You will now see the “VIP” badge in the Profile header.

Credit Monitoring

APEXA regularly monitors the credit information about active Advisors within the system. You may wish to use this information for screening (see Screening), but you may also wish to monitor any credit changes on an ongoing basis. You can receive notifications of credit events, provided you create the proper trigger (see Triggers), and you can also view information about the Advisor on an ongoing basis by accessing the Advisor record, then selecting Credit History from the Advisor menu (lower left-hand menu).

APEXA orders a full credit report once per advisor, but if you require a full credit report at any other time, you can manually order a full report (please note: your organization will be charged for this report). Access the Advisor’s profile and select the Credit button from below the profile header.

Criminal Background Checks

APEXA automatically performs criminal background checks for any new relationship (provided a check has not been run in the past year). You may wish to use this information for screening (see Screening), but you may also wish to order a full criminal check at a later date. You can manually order a full report (please note: your organization will be charged for this report) by accessing the Advisor’s profile and selecting the Background Check button from below the profile header.

Unmonitored Status

You may notice that some advisors will have "Unmonitored" appear in the profile header, next to their name. When a profile is marked as unmonitored, it means that APEXA is not currently monitoring credit, licence or E&O for that advisor/shareholder.

The system will mark an advisor/shareholder as unmonitored after any of the follow defaulting events:

  • Resident licence has been expired for 30 days.
  • All E&O certificates have been expired for 30 days.
  • Annual attestation has not been completed within the last 14 months.
  • The advisor (or shareholder's corporation) does not currently have any pending, active, downgraded or vested contracts in APEXA.

If an advisor becomes unmonitored, an email will be sent informing them of the unmonitored status. Additionally, a notice will be displayed on the profile dashboard identifying the exact reason(s) for the status. 

For the first 30 days an advisor/shareholder is unmonitored, it will appear in Yellow. After 30 days, it will change to Red. Monitoring will be reinstated when the profile is back in good health and has at least one contract that is pending, active, vested or downgraded.

Deceased Advisors

When an Advisor passes away, his/her file must be updated accordingly. If you have been notified that an Advisor is deceased, you have the following options:

(1)    You can terminate and downgrade all the contracts associated to the deceased Advisor, selecting “Deceased” as the Reason for termination. In this scenario, you will be responsible for attaching the death certificate to the contract at time of termination.

(2)    You can email the APEXA call centre to notify them of the deceased advisor, including the relevant death certificate.

Once APEXA has received the appropriate documentation, APEXA will verify the document and flag the Advisor as deceased. A copy of the death certificate will be uploaded into APEXA and attached to the Advisor’s profile.

Your organization will be notified of advisors who have been marked as deceased, provided you have created a proper trigger (see Triggers).

How To – Terminate a Contract for a Deceased Advisor
  1. Open your contract with the deceased Advisor.
  2. Select the Action button from below the contract header.
  3. Select Terminate from the drop down.
  4. Select “Deceased” as the Reason for termination.
  5. Indicate the date the Advisor passed away as the Date of Termination.
  6. Include a note about the termination (optional).
  7. Attach the relevant notification of death.
  8. Click Ok.

Disciplinary Action

APEXA will aggregate disciplinary actions from regulators and make these available within APEXA. Information will be aggregated from Canadian Insurance Regulators Disciplinary Actions (CIRDA) database, Investment Industry Regulatory Organization of Canada (IIROC) website and Mutual Fund Dealers Association of Canada (MFDA) website.

The data aggregated will be not be matched with individual Advisor profiles in APEXA, as the public notices and disciplinary action documents do not contain sufficient information to accurately match such documents with an individual Advisor's profile. No historical information will be loaded into the system. Disciplinary actions will be aggregated from day of go-live forward. 

How To – Search for Disciplinary Action Information
  1. Select Search from the left-hand menu.
  2. Select Disciplinary Action from the resulting sub-menu.
  3. Enter search criteria to find the information you are looking for (e.g. Advisor Name = Kelsi Elshaw, Issued After = yesterday’s date) and click Search.
  4. The system will provide the following information for each disciplinary action item:
    • Advisor Name
    • Source
    • Date decision/notice was issued
    • Created (date item was added to APEXA)
    • Link (external link to the decision/notice)

Back Office Codes

This screen will allow you to view any of the codes, specific to your organization, associated with an Advisor. These are the IDs you use internally to identify this Advisor and will be used as part of your API if you are integrating with APEXA. 

How To – Add a Back Office Code
  1. Access the Advisor record on which you wish to add the code.
  2. Select Back Office Code from the lower left-hand Advisor Menu.
  3. Click Add from the right-hand corner.
  4. Enter the Code.
  5. Enter a description of the code.
  6. Click Save.