Financial advisor Mark Faiz Sakkejha received a painful reminder in 2012 that a financial advisor cannot act as executor of a client’s estate.
Faiz Sakkejha was fined $7,500 by the Mutual Fund Dealers Association of Canada (MFDA) and ordered to pay $2,500 in costs because, among other things, he had been appointed a “co-power of attorney, a co-trustee and/or an executor for four different clients.” And, in the case of one client, Faiz Sakkejha “had acted as the executor of the client’s estate.”
JIM MIDDLEMISS – Investment Executive – November, 2015.
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