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Just in the process of changing financial planners for the first time in 10 plus years. Just interested to know the steps I should go through. Specifically - is there an obligation on the FP to return originals and copies of all my financial documents after the expiration of the agreement.
This situation is bound to happen from time to time to your adviser. I suggest that the level of assistance you receive from your outgoing adviser will be reflective of the manner by which you announce your departure and the reasons for doing so. My approach under all circumstances is to be professional and co-operative. It will be easy to give you back all of your originals and I would think that this would be easy and convenient for your adviser to do so. I do not know of any obligations on the adviser's behalf to comply with a provision of information requirement pertaining to all information, however I would certainly think he would be happy to give you back the original documentation. Your adviser will keep copies of all of the information and records and must do this under the law.