Comments on: Choosing a Financial Planner http://www.canadiancapitalist.com/choosing-a-financial-planner/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: The Paradox of Financial Advice | MoneySense http://www.canadiancapitalist.com/choosing-a-financial-planner/#comment-244624 The Paradox of Financial Advice | MoneySense Tue, 17 Aug 2010 13:19:38 +0000 http://www.canadiancapitalist.com/?p=178#comment-244624 [...] Choosing a Financial Planner [...] [...] Choosing a Financial Planner [...]

]]> By: cvrk http://www.canadiancapitalist.com/choosing-a-financial-planner/#comment-99 cvrk Wed, 30 Nov -0001 00:00:00 +0000 http://www.canadiancapitalist.com/?p=178#comment-99 While I may tend to agree with your observations, I tend to disagree with you regarding affliations. An affliation, besides, providing an income also provide access to the industry, so that he keeps abreast with what is happening around/ A prudent FP is one who disclosed what he gets as a commission and convinces you why he recommends such investment, and explains the risk involved. A financial planner only guides you and after all it is your money! Naturally he should be compensated for his time either by way of upfront fee or commission. I would consider the first quality a FP should possess, is transparency in his dealings. While I may tend to agree with your observations, I tend to disagree with you regarding affliations. An affliation, besides, providing an income also provide access to the industry, so that he keeps abreast with what is happening around/ A prudent FP is one who disclosed what he gets as a commission and convinces you why he recommends such investment, and explains the risk involved. A financial planner only guides you and after all it is your money! Naturally he should be compensated for his time either by way of upfront fee or commission. I would consider the first quality a FP should possess, is transparency in his dealings.

]]> By: Arbee http://www.canadiancapitalist.com/choosing-a-financial-planner/#comment-100 Arbee Wed, 30 Nov -0001 00:00:00 +0000 http://www.canadiancapitalist.com/?p=178#comment-100 cvrk: I totally agree that a FP should be compensated fairly for their time and efforts. After all, they have to make a living and they bring valuable skills to the table.<BR/><BR/>That said, I think a professional designation is a must. I've read somewhere that in Ontario you need more qualifications to be a hair stylist than a financial planner. Even a professional designation is meaningless if a planner is employed by a mutual fund company as they will sell only their own funds. cvrk: I totally agree that a FP should be compensated fairly for their time and efforts. After all, they have to make a living and they bring valuable skills to the table.

That said, I think a professional designation is a must. I’ve read somewhere that in Ontario you need more qualifications to be a hair stylist than a financial planner. Even a professional designation is meaningless if a planner is employed by a mutual fund company as they will sell only their own funds.

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