Compliance guidelines state than an advisor should never receive a Client’s mail. There are many reasons for this, for example, conflict of interest, Client privacy, unfair trade, etc.
Generally, we do not allow a Client’s address to be changed to either your home or business address. An alternate address should be used, or a PO box mailing address set up. Refer to Physical/residential address below.
There may be some situations where there is a valid reason for a Client’s address to be the same as yours. Each situation is reviewed on an individual basis.
Physical/residential address
If you request a non-physical mailing address for a Client, it's important to also collect a complete physical address or a detailed description of the Client's specific location. When determining the location, describe it as if you were calling emergency services to the home. This information keeps us compliant with Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its associated regulations.
Examples of non-physical mailing addresses:
- PO Box
- General delivery
- Rural route
- Site / Comp
- Stations / Outlets
- Lock Box / Call Box / Community Mail Box
A complete physical address includes:
- Street number
- Street name
- City
- Province
- Postal code
A detailed description of a specific location should include:
- Clear landmarks or reference points (e.g., "2 km north of the town hall")
- Nearby intersections or major roads
- Distinguishing features of the property or surrounding area
- Approximate distance and direction from the nearest town or city
- Any local naming conventions or identifiers used in rural areas
- GPS coordinates, if available
The description should be specific enough that someone unfamiliar with the area could reasonably locate the residence. For example: "The red brick house with a green roof, located 500 meters east of the intersection of Main Street and Oak Avenue, directly across from the community centre in Smalltown, Ontario."