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4 Steps to Finding the Best Financial Advisor For You

Making the best decisions about saving and growing your money isn’t always easy. Begin with a key decision-finding the right financial guide.

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It pays to do your homework and find the best financial advisor for you.

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Look at the Services, Not the Titles

These professionals can go by many names, including financial planner, financial advisor, investment counsellor, portfolio manager and more. “If there’s confusion, it’s understandable,” says Katie Walmsley, president of the Investment Counsel Association of Canada. “You have to look beyond the title, at what services are being offered, what qualifications and licensing they have.”

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Consider Your Needs

Are you seeking advice on investments? Education savings? Retirement? Insurance? “Ask about their typical clients, and see where you fit,” says Greg Pollock, president of Advocis, The Financial Advisors Association of Canada.

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Check Qualifications

You want to look at past and continuing education, experience, professional designations, associations and references.

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Do Your Homework

Finally, in light of recent scandals, be sure that your advisor is registered. For a list of registered firms and advisors, visit the Investment Industry Regulatory Association of Canada

For questions to consider when selecting a financial professional, visit Investment Counsel Association of Canada or The Financial Advisors Association of Canada.