This section outlines the terms and conditions imposed on the individuals at Wealthsimple Inc. who are Advising Representatives operating as Client Relationship Management(CRM) specialists and who use the following titles:
- Senior Advisor, Client Relationship Manager- Advising Representative
- Advisor, Client Relationship Manager- Advising Representative
CRM specialists are restricted from analyzing or selecting individual securities, or providing recommendations to buy, hold, or sell individual securities. They can recommend model portfolios and pooled funds created by another Advising representative who is not subject to the same limitations. Additionally, they can establish asset allocations for clients’ accounts and develop investor policy statements.
CRM specialists can engage in some activities with the approval of an unrestricted Advising Representative (AR). These activities include recommending or discussing the suitability of individual securities with clients.
CRM specialists are not permitted to review or approve advice given by Associate Advising Representatives (AARs) regarding individual securities. However, they may review and approve AARs’ recommendations for model portfolio and pooled funds created by another AR, AARs’ determination of asset allocations, and investment policy statements created by AARs.
To avoid misleading clients and prevent confusion, the title for CRM specialists must include “Client Relationship Manager” in all communications and marketing materials. This ensures that their title does not imply that their advisory activities are the same as those of an AR, who is not subject to similar terms and conditions.