Morningstar Canada to host a practical session on suitability, documentation, and product risk in a post-CFR environment
This article was produced in partnership with Morningstar
Advisors across Canada are under pressure to show not only that they know the products they recommend, but that those recommendations are well-supported, clearly explained, and thoroughly documented. Today, regulators are place emphasis on the quality of suitability reviews -- not just whether a client was “generally suited” for an investment, but whether the advisor can demonstrate a reasonable, structured process behind each decision.
Morningstar Canada has observed this trend firsthand. Through its work with firms and advisors across the country, it’s clear that Know-Your-Product (KYP) obligations remain one of the most demanding parts of the Client Focused Reforms (CFRs), especially as product complexity increases and the pace of product change accelerates.
A closer look at what firms are facing
Product shelves are expanding rapidly, and assessing suitability requires consistent tools, real-time product insights, and clear communication with clients. Advisors are being asked to make sound recommendations while managing increasingly complex portfolios—and to prove, in writing, why those recommendations make sense.
These expectations are being tested through more rigorous audits, with CIRO and CSA looking beyond basic file notes and into how firms are maintaining consistency and clarity in their suitability assessments.
What the webinar will cover
Morningstar Canada will host a one-hour session featuring Ian Tam, Director of Investment Research, alongside other industry experts, to explore practical approaches to meeting KYP requirements under the CFR framework.
Attendees can expect to learn:
- Common gaps in suitability documentation and how to avoid them
- Firm-level strategies for standardizing risk assessments and product comparisons
- Morningstar’s perspective on how technology and structured tools can support KYP obligations
- Examples of what “good” compliance looks like in 2025 and where advisors are still falling short
This session is designed for advisors, compliance professionals, and firm leaders who want a clearer, more structured approach to meeting today’s regulatory expectations that protect investors.
Why now
While CFRs are not new, their enforcement has become more detailed and more focused on documentation quality. Morningstar’s session will help advisors and firms understand where the pressure points are and how to respond with practical, defensible processes.
Register now to join Morningstar Canada for a focused discussion on how to approach product suitability and compliance with greater confidence and clarity in 2025.
