Issues Online
Feb  Mar  Apr  May
Search Tips

Narrow your search results by using '&' or 'AND' between keywords

Use quotes to search for phrases such headlines eg. "this is the headline"

Also try a Google search of our site

Restreignez et centralisez votre recherche en utilisant “&” ou “ET” entre les mots”

Utilisez les guillemets pour rechercher des expressions et titres précis, par exemple. "c'est le titre"

Utilisez aussi l’outil de recherche Google pour notre site.

   

Choosing the right financial advisor

(NC) With RRSP season well underway, many Canadians are wondering whether it's time to seek financial advice. Here are some tips to help you choose an advisor that's right for you.

Since you will be relying on your advisor for information and guidance, it is important that you pick someone you find trustworthy, who helps you think about your life goals, who understands your investment needs, and who fully answers all of your questions.

Your advisor will help you create a plan that's right for you, review it with you regularly and remind you to stick with your plan so that your money can continue to grow. Studies have shown that people who have a financial advisor for 15 years or more, have more than double the savings of those who do not have advisors – mostly because simply having an advisor encourages people to save regularly and save more.

It is important to make sure that the individual is licensed. Licensed advisors are overseen by regulators and must complete education programs before and after they are registered to help them keep on top of new financial products, rules and regulations, and industry trends. Check regulators' websites to determine whether the individual has been the subject of any complaints or investigations.

There are rules requiring financial advisors to tell clients the range of products that they are licensed to offer, their qualifications, and how they are paid. Some financial advisors are paid by salary or through commissions, some through a separate fee paid directly by the client, and others might offer a choice of payment methods. Be sure that you understand the costs of your investments and the services your advisor offers.

Finally, the key to a good relationship with your financial advisor is good communication, so ask questions and update your advisor on any changes in your circumstances.

For more information, visit www.ific.ca/en/pg/investor-centre/ or your provincial securities regulator.

www.newscanada.com

Word count: 326


Terms of Use

Articles are provided free of charge. Articles appearing on web sites, must credit www.newscanada.com. Articles appearing in Print, must credit News Canada with (NC) at beginning of an article or – News Canada at the end. Any source/sponsor of the information quoted in the text must also be identified as presented. Images are only to be used with corresponding editorial copy. Usage of News Canada articles constitutes your acceptance of these terms and an agreement between you and News Canada.

Subscribe