Enhancing the professionalism of financial advisors in the best interests of the consumer
APA Board
Chair Roger McMillan, CFP, CLU, CH.F.C.
  Brian Mallard, CFP, CLU, CH.F.C.
  Vince McKay
  Jim Virtue, CFP, CLU, CA
  Dennis Yanke, CFP, CLU, CH.F.C.
  Edward McQuillan, CFP, CLU
  Geoffrey Hull

TERMS OF REFERENCE FOR THE BOARD OF THE ADVOCIS PROTECTIVE ASSOCIATION

Mandate
The purpose and operations of the Board of the Advocis Protective Association (APA) are subject to the TFAAC Board policy “Statement of Committee Governance”. The APA Board shall:

  • Maintain confidentiality, as outlined in the TFAAC Board Confidentiality Agreement.
  • Establish the required policies and procedures for the efficient and effective operation of the APA and oversee their implementation
  • Establish and maintain a self-sustaining, viable and stable professional liability program for the benefit of certificate holders
  • Establish and maintain the relationships with insurers necessary for the ongoing viability of the program
  • Review annually the performance and service parameters of the chosen insurance carriers and brokers
  • Establish and maintain an Underwriting Committee that will operate under its own Terms of Reference
  • Establish and maintain a Claims Committee that will operate under its own Terms of Reference
  • Establish and maintain an Investment and Finance Committee that will operate under its own Terms of Reference
  • Ensure that all certificate holders have ongoing access to loss prevention training and education
  • Explore additional insurance product offerings that may be of interest to certificate holders and exercise the proper due diligence in bringing them to market
  • Establish such Task forces as may be deemed appropriate from time to time, determine budgets for such Task Forces as may be appropriate, and receive reports and recommendations from such Task Forces.
  • Debate, determine and review annually, the strategic plan for the APA
  • Report regularly to the TFAAC Board (Charter Member) at pre-scheduled Board meetings.

Responsibilities

  • To provide expertise on behalf of all certificate holders and other industry participants.
  • To liaise with industry stakeholders to ensure the continued relevance and awareness of the APA programs
  • To oversee the drafting of documentation developed by Association staff to ensure that is high quality and practical
  • To advise on the development of all matters under the mandate for APA governance.
  • To review, annually, the Terms of Reference and forward to the Governance Committee

Composition

  • The Board shall be composed by a minimum of seven directors, to a maximum of 15 directors.
  • The majority of the Board Members shall be TFAAC Members in good standing, reflecting regional diversity, product and/or service expertise, different types of legal structure (e.g., sole proprietorship, partnership, corporation), and degrees of experience and success. 
  • The majority of the Board Members shall be Regular Members of Advocis
  • A maximum of two Board Members may be appointed for their recognized industry expertise and need not be members of Advocis
  • Appointment shall be by the TFAAC Board (Charter Member), based on recommendation from the current APA Board
  • Chair to be appointed by the APA Board
  • Staff liaison to be the President & CEO or his/her designate

Terms of membership

  • Three year term
  • A Board Member cannot serve more than three consecutive three-year terms.

Quorum

  • Majority of the total APA Board Members, present in person or by phone.
  • Decisions may be taken by consensus vote as described above, in addition to during teleconference and in person meetings, by electronic means, which shall include electronic commerce and faxes.

Process

  • By consensus where possible.
  • Any question shall be referred to Robert’s Rules of Order.
  • Board Chair to receive information, agenda and minutes first for approval.
  • Agenda and meeting material to be distributed in advance to Board members within a reasonable time
  • Board Chair shall NOT have a vote
  • Any tie will give the Board Chair a casting vote
  • APA Board business to remain with the APA Board until it is agreed to communicate this business beyond the APA Board

Technical advisors

  • Where necessary in the opinion of the APA Board of Directors
  • Technical advisors may sit through one or more meetings.

Meetings

  • As the APA Board Members determine
  • A minimum of two (2) meetings per year, either in person or by teleconference.
  • Absence of three (3) meetings, member’s commitment is to be reviewed.

Amendment to Terms of Reference

  • Only with approval of the TFAAC Board