Stage 1: Registration
Registration is simple. You'll provide some basic information about yourself, set up a username and password, review and accept the terms of the MoneySense Approved program and submit the basic application fee, which enables us to process your application, survey your clientele and deliver your customized client feedback report.
Stage 2: Application
The application process begins with a straightforward but detailed questionnaire. Be prepared to answer questions about:
- The kinds of services you offer
- The kinds of products you are licensed to sell
- Which professional designations you have
- Your client profile
- Your fees, fee structure and other sources of revenue
- Extraordinary items, such as awards or sanctions
If you need to look something up, don't worry: you will be able to save your answers and come back to the questionnaire at any time.
Stage 3: Client-feedback survey
The client-feedback survey is a crucial component of your MoneySense Approved application. You will receive a unique online survey link to distribute to your full client list, plus standard invitation and follow-up messages. MoneySense will collect and analyze the responses, which will be aggregated in your client-feedback report and factored into the evaluation of your application. Minimum response rates are required: at least 40 active clients or 40% of your active clients, whichever is less. (An active client is someone to whom you have provided financial advisory services in the past 24 months.) To encourage responses, MoneySense will enter all respondents into a quarterly prize draw.
Stage 4: Advisor interview
Once the client-feedback survey is closed, MoneySense will arrange a phone interview at a time that's convenient to you. We'll ask follow-up questions informed by the answers on your questionnaire and the client-feedback survey. The call should take no more than 30 minutes.