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