The Contacts Index Page provides a centralized view of key reports related to client contact information, regulatory deadlines, and undelivered communications. This tool helps advisors proactively manage client accounts, ensuring timely actions are taken to avoid compliance risks and service disruptions. Regularly reviewing these reports helps maintain accurate client records and supports consistent, high-quality service.
Reports Included in the Contacts Index Page
The Contacts Index Page consists of four key reports:
The Contacts Index Page consists of four key reports:
The Clients Turning 71 Report
The Clients Turning 71 Report identifies clients who are approaching the mandatory age for converting their registered retirement accounts, such as RRSPs, into a retirement income option. This report is essential for ensuring clients receive timely guidance to avoid unnecessary tax implications.
How to use the Clients Turning 71 Report:
- Review the report regularly to identify clients turning 71 during the current calendar year.
- Engage clients early to help them transition RRSPs into a RRIF, purchase an annuity, or arrange a full withdrawal before year-end.
- Submit necessary service requests to complete the account conversion process.
Why the Clients Turning 71 Report Matters:
- Helps prevent clients from facing unexpected tax consequences.
- Ensures clients receive the appropriate advice and service as they approach key regulatory milestones.
- Supports proactive financial planning for clients nearing retirement age.
The Expiring Non-Resident Report
The Expiring Non-Residents Report identifies clients whose non-resident status documentation is approaching expiry or has expired. Reviewing this report ensures correct withholding tax rates are applied and regulatory obligations are met.
How to use the Expiring Non-Resident Report:
- Contact clients with upcoming expirations to collect updated documentation.
- Submit an Update Account Documentation > NR-301 service request through the CRM when necessary.
- Confirm non-resident declarations are valid to avoid incorrect withholding rates.
Why the Expiring Non-Resident Report Matters:
- Prevents clients from overpaying withholding taxes on Canadian-source income.
- Reduces the risk of compliance issues related to inaccurate residency reporting.
- Ensures proper tax treatment for clients classified as non-residents.
The Returned Email Report
The Returned Emails Report flags client emails that have bounced back due to invalid or outdated email addresses. Monitoring this report ensures uninterrupted electronic communication with clients.
How to use the Returned Email Report:
- Review the list of clients with returned emails and verify contact details.
- Reach out to clients using alternative methods to confirm and update their email address.
- Update client records to resolve issues and restore communication channels.
Why the Returned Email Report Matters:
- Ensures clients receive critical communications, such as account updates and regulatory notices.
- Supports compliance by maintaining accurate and functional client contact information.
- Reduces the likelihood of missed deadlines or service delays due to communication failures.
The Return Mail Report
The Returned Mail: Report identifies clients whose physical mail has been returned as undeliverable. Addressing these records helps maintain accurate client mailing addresses and ensures clients receive essential account documentation.
How to use the Return Mail Report:
- Review clients on the report to identify outdated or incorrect mailing addresses.
- Contact clients to verify and update mailing details.
- Correct client records to resume regular mail delivery.
Why the Return Mail Report Matters:
- Ensures clients receive important account documents, tax slips, and service notifications.
- Reduces compliance risks associated with undelivered regulatory communications.
- Maintains accurate records to support seamless client servicing.
How to Access the Contacts Index Page
- To review the reports:
- Log in to the CRM portal.
- Navigate to CRM > Contacts.
- On the contact’s index page, click +Add view to the right of the tabs.
- Access any of the following reports using the search bar:
- Clients Turning 71 Report
- Expiring Non-Resident Report
- Returned Email Report
- Return Mail Report
Best Practices for Managing Contacts
- Review all four reports regularly (monthly or quarterly) to keep client records up to date.
- Take proactive steps to resolve issues before they impact clients or lead to compliance concerns.
- Communicate with clients in advance to confirm information and ensure smooth account servicing.