AML source of funds documentation for financial advisors

When SOF/SOW documentation is required

Dealers subject to FINTRAC rules collect client identification and may require evidence of source of funds for large or unusual deposits, entity clients, and politically exposed persons workflows per firm policy. Portfolio managers with AML policies follow their own manuals — often triggered by non-standard funding or business-owner clients.

The operational pain is the same: clients email partial bank statements; operations cannot tell if the file is complete.

Common document types

Requirements vary by risk rating and transaction, but advisors often request:

• Recent bank or investment account statements showing deposit origin.
• Sale agreements or closing statements for property or business sales.
• Gift letters and donor SOF evidence for gifted deposits.
• Corporate financial statements and beneficial ownership registers for entity clients.
• Authorized individual resolutions for corporate or trust accounts.

Collection vs verification

Hivi-X is a document-collection layer: checklist-driven requests, my-id.ca portal uploads, approve/reject workflow, and exportable packages. It does not verify identities against FINTRAC databases or screen PEP lists.

General information only — not legal or AML advice. Consult your compliance officer and FINTRAC guidance.