The obligation
CIRO's client-focused reforms require advisors to understand the products they recommend, including how fees compare to alternatives. Know Your Product is not optional.
KYP
Find better products for your clients in seconds - not hours
Know Your Product compliance, automated. Analyze thousands of products. Surface lower-cost alternatives. Document the suitability conversation.
2.35%
High-fee fund example
0.06%
ETF alternative example
$X
Annual client savings shown
The problem
Doing that properly across thousands of products and hundreds of client portfolios is still a manual process in most firms. It takes too long, so the comparison work is inconsistent.
What Hanna does
For any product in a client portfolio, Hanna shows what it costs, what similar products cost, and how much the client could save by switching. The comparison can pull from your own shelf and from competitor products.
The conversation
The comparison work is what makes the suitability discussion real
"I noticed you hold Fund X with a 2.35% MER. There is an equivalent ETF at 0.06% that has performed similarly over the last five years. At your portfolio size, that is meaningful annual savings. Would you like to discuss switching?"
Search and compare any product on the shelf
See product type, fund family, MER, and risk level
Find lower-cost alternatives in seconds
Quantify annual savings for the client conversation
Track average MER and concentration across the shelf
Client-Focused Reforms
Review what a client actually holds - not just what exists on the shelf
Pick a client and Hanna reviews every holding they own against the four tests CIRO cares about, then documents the decision for the file.
Suitability
Each held fund's risk rating against the client's KYC risk ceiling. Over the ceiling is flagged red.
Cost
The fund's MER against the peer-category median on your approved shelf. Above median is flagged.
Conflicts
Deferred sales charges, trailing commissions, and load structures, surfaced from the conflict register.
Alternative
The cheapest approved, suitable, same-category swap - with the estimated annual saving for the client.
Red / amber / green
Per-holding status
$X / yr
Estimated MER saving if swaps accepted
Approved-shelf
Alternatives drawn only from your approved list
The audit trail
Document the suitability decision the way an examiner expects to see it
Save the review
Every client review is saved as a timestamped record - the four-check scorecard exactly as it stood that day.
Record the decision
For each flagged holding: accept the recommended swap, keep it with a written rationale, or mark it to monitor. Keeping a flagged holding requires a reason - captured, not skipped.
Export a cited report
One click produces a PDF where every flag names its basis - the KYC ceiling, the peer median, the conflict, the approved alternative - and lists who decided what, and when. Exam-ready.
On a cadence
Best-fit comparisons run against the approved shelf on the annual cadence CIRO expects, across multiple fund families, so the range of alternatives considered is real and documented.