Advisor.ca | Help Clients Through Bankruptcy
Consumer or personal insolvency can befall anyone. As an advisor, you’re best suited to spot troubling patterns in your clients’ financial behaviour. That’s the first step to steering them away from the brink.
First, help clients realize bankruptcy can happen to them. On average, people facing personal insolvency are in their mid-30s, with $35,000 worth of debt.
But “we see all sorts of people,” says Zaki Alam, CIRP, Trustee, CA and senior VP of insolvency and restructuring for MNP. “We do have some clients who don’t have much financial acumen, but we also work with doctors, lawyers and chartered accountants. Our clients encompass the whole gamut.”