Explains how Canadian wealth advisors gather, test, and deepen client information before moving from discovery to analysis and recommendation.
This chapter examines the discovery stage of wealth management. It explains what information must be collected for a compliant advisory relationship, what additional facts are needed for stronger planning, and how advisors should organize the discovery process so that later recommendations are defensible.
For exam purposes, this chapter is not about memorizing intake forms. It is about judgment. Students should be able to distinguish required information from useful but optional context, recognize when discovery is incomplete, and choose the follow-up question or next step that best clarifies the client’s real needs.
The main themes are:
the difference between minimum regulatory KYC information and broader planning discovery
the role of family, goals, liquidity needs, experience, and constraints in understanding the client
red flags such as incomplete facts, conflicting objectives, vulnerability, and inconsistent statements
the sequence of a sound client discovery process and when implementation should pause
Understand the core client information Canadian advisors must collect under KYC, AML, and privacy requirements before making or implementing recommendations.
Learn how stronger client discovery goes beyond minimum KYC to uncover goals, tradeoffs, vulnerability, and the broader facts needed for better wealth planning.
Learn how the client discovery process moves from intake to clarification, confirmation, and next steps so that recommendations rest on complete and reliable information.