A Business Practice Review (BPR) can come from your MGA, a contracted insurer, or a provincial regulator, and will generally arrive with little notice. When it does, your client files and compliance programs will do the talking for you.

Advisors who run compliant practices day-to-day have nothing to fear from a BPR. It's not about catching you doing something wrong, it's about confirming that the advice you're giving to clients is documented, defensible, and in their best interest.

HUB Financial has developed the Advisor BPR / Audit Readiness Checklist to help you take stock of where your practice stands before anyone comes knocking.

The checklist walks you through six key areas auditors consistently focus on:

• Your licensing and E&O coverage
• Your core compliance programs (Privacy, AML/ATF, CASL, complaints handling)
• What belongs in every client file
• The disclosure documents clients must receive
• How you document your recommendations and suitability analysis
• Your marketing and social media footprint

Use it as a self-audit. Work through it honestly. If something is missing, now is the time to fix it!

The checklist is available on HUBLink under the FAQ section of the Compliance Centre. 

Remember,