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 PO Box or general delivery 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. This information keeps us compliant with Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its associated regulations.
A complete physical address includes:
- Street number
- Street name
- City
- Province
- Country
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."