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  1. Evaluate the source of the referral:
    • Is the prospective advisor referred by a trusted known source with values/beliefs compatible to the NEF values and beliefs? Are the recommendations of source positive?
    • Is the advisor referred by an unknown source or by a source with unconfirmed values/beliefs?
    • Has the advisor called NEF directly?
  2. Interviews with the management (Anton and Terry). Elements of the personal situation to evaluate:
    • Availability and willingness to work full time for new advisors;
    • Financial reserves for new advisors;
    • Willingness of the family to support the prospective advisor for new advisors;
    • Past personal success stories;
    • Confidence;
    • Motivation, drive, readiness to work;  
    • Autonomy;
    • Why willing to change? Relationship with existing firm: problems, conflicts, outstanding debt, clients complaints, CHARGEBACKS, leverage accounts
    • Family situation: responsibilities, relationships
    • Financial stability and history
    • Sources of business – self generated or dependent on externally provided/purchased leads;
    • Sales figures for the last 3 years;
    • Predominant products, services, companies sold and serviced. WHY? Listen for higher commission/personal interest vs. client needs and client protection;
    • Policy service and Stay-in-touch systems in place. Evaluate ability to build relationships;
    • Average number of services/accounts per client. Evaluate relationships building;
    • Client segmentation – how often do you contact your A clients? Relationship building;
    • How many referrals have you gotten last year?
    • Persistency issues. Ask for canceled contracts as a % of total book of contracts;
    • Do you feel you are in a good business? Would you recommend it to friends? 
  3. Fill out the Independent Advisor Application. Review answers and if needed, further discuss and clarify positive answers on:
    • Credit Report / Credit history
    • Interruption in License and or E&O Coverage
    • Are there pending Collections and / or  legal items (Usually flagged on the credit report)
    • Bankruptcy / Consumer Proposal / Garnishments
    • Insolvency issues
    • Outstanding debt with Insurance Carrier, MGA or Fund Company
    • Suspension of license or license being revoked
    • Regulatory Reprimands or Enforcements / Disciplinary actions / Fines
    • Criminal Activity or Offences (Charges and convictions)
    • Client Complaints (past, actual or potential future complaints)
    • Persistency Issues  (Policies that are placed but do not remain on the books)
    • Leveraging (is the client advisor’s block Highly leveraged)


  1. Obtain copies of active license and errors and omissions insurance and void check
  2. Sign producer’s contracts with contracted MGA’s
  3. Sign a producer’s contract with NEF
  4. Collect authorization for collection of monthly service fees
  5. Setup a Sync.com account for clients files and share it with the compliance officer
  6. Setup an advisor account with tools.nordestfinanciere.ca
  7. Pass a compulsory training on:
    • The compliant client’s file including:
      • Clients authorizations
      • Advisor’s disclosure
      • Clients information
      • Communication log
      • Notes from meetings and conversations
      • FNA
      • What’s your risk
      • Needs analysis for life and living benefits
      • Existing protection analysis and records
      • Suitability of recommendations
      • Documenting of advisor’s recommendations and client’s decisions not to follow them (if it is the case)
      • Recommendations supporting material
      • Application and supporting documents
      • Investor profile questionnaire
      • Addendum for Diploma sales
      • Notice of replacement
      • Copy of replaced policies
      • Proof of NOR delivery to owner/insured, old insurer and new insurer
      • Policy delivery
      • Reason why letter
      • Policy summary
      • Clients servicing requests
      • Transaction records
      • Separation of files: spousal files, insurance and investments
      • Documents we are not allowed to collect/have/keep on file
  8. Sign confidentiality and non-compete agreement for employees
  9. Verify security of equipment:
    • OS system on autoupdate
    • Device is password-protected with a single user, no other users
    • User is logged off if inactive for max 5 min and at lid closing
    • active Firewall
    • anti-virus on autoupdate
    • disk encryption
    • Installed password manager: recommended https://www.enpass.io/downloads/
    • Recommend a VPN provider – Surfshark or NordVPN. If not, look for the following features: no-log, kill switch, private DNS and leak protection, AES-256-GCM encryption
  10. Set a @northeastfinancial.ca email
  11. If Gmail in use, install the FlowCrypt Chrome extension for encrypted emailing
  12. Email signature setup: go to this document for privacy disclosure and email signature text.
  13. Approve and order business cards.